development1

Hines, Qatari Diar Break Ground on Conrad Washington, D.C. Luxury Hotel at CityCenterDC

by John Nelson June 30, 2016

WASHINGTON, D.C. — Hines and Qatari Diar, the real estate development arm of Qatar Investment Authority, have broken ground on the Conrad Washington, D.C., a 360-room luxury hotel situated within the CityCenterDC development. The hotel will be operated under Hilton Worldwide’s Conrad Hotels & Resorts brand. The hotel is the seventh building developed by Hines and Qatari Diar at CityCenterDC, a 10-acre mixed-use destination in downtown Washington, D.C. The hotel will feature 30,000 square feet of retail space with a signature restaurant conceptualized by chef Bryan Voltaggio, the executive chef and co-owner of several Mid-Atlantic restaurants including VOLT, RANGE, AGGIO, Lunchbox and Family Meal. The hotel’s design team includes architects Herzog & de Meuron and HKS Architects Inc., interior designer Rottet Studio and general contractor Turner Construction Co. Hines and Qatari Diar expect initial occupancy to begin in the first quarter of 2019.

June 30, 2016

Hospitality Indiana Midwest

Drury Hotels Opens New 303-Room Hotel in Indianapolis

by Christina Cannon June 30, 2016

INDIANAPOLIS — Drury Hotels Co. has opened the Drury Plaza Hotel Indianapolis Carmel. The hotel features 303 guest rooms and over 7,000 square feet of event space. Amenities include Wi-Fi, a complimentary breakfast, business center, fitness center and an indoor/outdoor pool with hot tub. The Drury Plaza offers king, queen and two-room suites. Missouri-based Drury Hotels Co. owns and operates over 130 hotels in 21 states.

June 30, 2016

Loans Massachusetts Mixed-Use Multifamily Northeast Retail

Fantini & Gorga Secures $16.4M in Financing for Mixed-Use Development in Massachusetts

by Amy Works June 29, 2016

MANSFIELD, MASS. — Fantini & Gorga has arranged $16.4 million in financing for the development of North Common Estates, a transit-oriented mixed-use development in Mansfield. The borrower is North Common Residences LLC, an affiliate of Curgnale Properties. Casimir Groblewski of Fantini & Gorga arranged both the debt and equity portions of the capital stack for the project. The debt was placed with a major Massachusetts-based financial institution and the equity with a group of private investors. Slated for completion in fall 2017, North Common Estates will feature two four-story buildings offering a total of 37 one-bedroom and 44 two-bedroom apartments, ranging in size from 700 to 1,500 square feet, and 7,689 square feet of commercial space. RESKON Group is the project manager and Annino Inc. is serving as architect for the project.

June 29, 2016

The Enclave Shops at Coral Ridge Fresh Market Fort Lauderdale

Florida Retail Southeast

Stiles Completes Fresh Market-Anchored Shopping Center in Fort Lauderdale

by John Nelson June 29, 2016

FORT LAUDERDALE, FLA. — Stiles has completed The Enclave Shops at Coral Ridge, a 27,300-square-foot shopping center anchored by The Fresh Market. The property is located at the entrance of a single-family home community in east Fort Lauderdale near Oakland Park Boulevard and Fort Lauderdale Beach. The Fresh Market occupies 21,000 square feet of the shopping center, which will also feature inline retail shops and an outparcel leased to a bank. Stiles developed the project in a joint venture agreement with a group of local businessmen headed by Phil Smith. Stiles is leasing and managing the property.

June 29, 2016

California Multifamily Top Stories Western

City of Anaheim Approves $364M, 1,079-Unit Luxury Apartment Building Near Angel Stadium

by Jeff Shaw June 29, 2016

ANAHEIM, CALIF. — The mayor and city council of Anaheim have unanimously approved construction of Jefferson Stadium Park, a 17.9-acre development adjacent to Angel Stadium of Anaheim, home of Major League Baseball’s Los Angeles Angels. Multifamily developer JPI is building the $364 million project, which centers around a 1,079-unit luxury apartment community. The development also includes a 1.1-acre public park and 14,600 square feet of retail space. The company plans to break ground in December. Residents of Jefferson Stadium Park will have access to Anaheim’s Regional Transportation Intermodal Center (ARTIC). The development is one mile from the Downtown Disney Shopping District, Disneyland and California Adventure theme parks. Also nearby is the public marketplace of the Anaheim Packing District. This is the second project for JPI in Anaheim’s Platinum Triangle neighborhood. Currently under construction is the $120 million Jefferson Platinum Triangle, a 400-unit luxury apartment community scheduled for occupancy in the fall of 2017. “Anaheim’s Platinum Triangle is a model for development efforts that encourage new projects, enhancing quality living experiences for the community,” says Heidi Mather, senior vice president and development partner for JPI. “This new project only strengthens our commitment to be a part of the revitalization of this …

June 29, 2016

Mixed-Use Multifamily Retail Texas

High Street Residential, Northwestern Mutual Top Out Knox Heights Mixed-Use Development in Dallas

by Katie Sloan June 28, 2016

DALLAS — High Street Residential, in partnership with Northwestern Mutual Real Estate, has topped out Knox Heights, a six-story mixed-use development located along McKinney Avenue in Dallas. The project will feature 13,500 square feet of ground-floor retail, 182 luxury residential units, a 2,400-square-foot fitness facility and lounge, a 4,500-square-foot amenity deck and pool, and a three-level, 363-space subterranean parking garage. Construction on the Class A development is scheduled for completion in early 2017. Andres Construction Services serves as the general contractor for the development, and Good Fulton & Farrell is the project’s architect.

June 28, 2016

Illinois Industrial Midwest

Summit Design + Build Completes Renovation of 120,000 SF Industrial Facility in Chicago

by Christina Cannon June 28, 2016

CHICAGO — Summit Design + Build LLC has completed a 120,000-square-foot renovation for Economy Packing, Chicago’s largest direct receiver of meat and seafood that was founded in 1932. The facility, located at 4501 W. Ann Lurie Place within the Crawford Industrial Park in Chicago, is Economy Packing’s new warehouse and distribution facility after the company sold four buildings in the Fulton Market meatpacking district last year. The building includes roughly 10,000 square feet of office space, 95,000 square feet of warehouse space and 15,000 square feet of completely upgraded freezer space. The renovation also included the addition of 20 refrigerated loading docks. Alan R. Schneider Architects provided architectural services for the project.

June 28, 2016

Multifamily South Carolina Southeast

Miller-Valentine to Develop Upscale Apartment Community in Metro Charlotte

by John Nelson June 28, 2016

FORT MILL, S.C. — Miller-Valentine Group plans to develop Beckett Farms, a 280-unit luxury apartment community in Fort Mill, a southern suburb of Charlotte in South Carolina. The asset will be situated on 44 acres near the intersection of Gold Hill Road and I-77. The property will feature one-, two- and three-bedroom units, as well as carriage units with garages underneath. Interiors will feature wood-style flooring, farmhouse-inspired fixtures and lighting, washers and dryers, stainless steel appliances, granite countertops, freestanding islands and tiled backsplashes. Amenities will include a salt water/ mineral pool with sun shelves, covered cabanas, palm trees, gas fire pit lounge area, outdoor kitchen and grill station, cyber café and a fitness center. The design team includes architects Axiom Architecture, Design Resource Group and Vignette Interior Design; general contractor CF Evans Construction; construction manager Miller-Valentine Construction; and marketing firm Yellow Duck Marketing. Miller-Valentine expects to deliver the first units of Beckett Farms by May 2017.

June 28, 2016

California Mixed-Use Western

Public/Private Partnership Breaks Ground on Mixed-Use Development in Fremont

by Nellie Day June 27, 2016

FREMONT, CALIF. — A public/private partnership between the City of Fremont, TMG Partners, SARES-REGIS Group and Summerhill Homes has broken ground on Locale @ State Street in downtown Freemont. Designed by KTGY Architecture + Planning, the transit-oriented residential and retail development will feature 157 for-sale residential units and 21,000 square feet of ground-floor, street-front retail and restaurant space along Capitol Avenue. Situated within walking distance of the Fremont BART station, the development will offer 81 flats and rowhomes and 76 on-grade attached rowhomes. On-site amenities include outdoor spaces with barbecues, landscaping, seating areas, a fitness studio and bike share program.

June 27, 2016

Multifamily Oklahoma Seniors Housing Texas

Ziegler Closes $111M in Bond Financing for Construction of CCRC in Oklahoma

by Katie Sloan June 27, 2016

STILLWATER, OKLA. — Ziegler, a specialty investment bank, has arranged $111 million in tax-exempt bonds for Epworth Living at The Ranch, a continuing care retirement community (CCRC) in Stillwater, approximately 60 miles north of Oklahoma City and west of Tulsa. Local nonprofit operator Epworth Living is developing the 380,000-square-foot community on a 55-acre site near Oklahoma State University. When completed, The Ranch will consist of 114 independent living apartments, 23 independent living villas, 48 assisted living apartments, 20 memory support suites, and 40 skilled nursing beds. The Ranch was 70.1 percent pre-leased at the time of the bond issue. The bonds will be used to fund the construction and development of the community, refinance a $6.8 million predevelopment loan, fund interest for two years, establish debt-service reserve funds and pay a portion of issuance costs. Epworth Living is contributing $2 million in equity to the financing. The Weitz Company will serve as the construction manager for the project.

June 27, 2016

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