development1

One51-Office-Centre-Phase-2-san-antonio-westover-hills

Stream Realty Breaks Ground on Phase II of Office Development in San Antonio

by Haisten Willis March 3, 2016

SAN ANTONIO — Stream Realty Partners has broken ground on Phase II of the company’s One51 Office Centre in the Westover Hills area of San Antonio. The Class A project will consist of a 101,000-square-foot office building located off of Highway 151. The two-story building will be completed in December. Carolyn Hinchey Shaw of Stream Realty Partners Central Texas will lease the office property, which will offer floor plates ranging from 22,000 to 101,000 square feet. The property, owned by Stream, will feature Class A finishes, 10-foot ceilings, 24-hour access, visibility from Highway 151 and dual-pane glass windows. The property is located on 9 acres near San Antonio International Airport. Westover Hills is home to numerous corporate campuses, including Nationwide Insurance, Wells Fargo, Hartford Insurance, Kohl’s, Capital Group, Chase Bank and Microsoft.

March 3, 2016

Joint Venture Receives $17.4M Construction Loan for Multifamily Project in New Jersey

by Amy Works March 3, 2016

WESTFIELD, N.J. — The Hampshire Companies and The Claremont Companies have received a $17.4 million loan for the construction of a 70-unit multifamily property located at 333 Central Ave. in Westfield. Located within walking distance to downtown Westfield, the new four-story, 126,340-square-foot property will feature a variety of one- and two-bedroom layouts ranging from 700 to 1,550 square feet with select units featuring a den and private terrace. All units will have hardwood floors throughout, nine-foot ceilings, stainless steel appliances, granite countertops and spacious walk-in closets. Community amenities will include secure and covered parking, a luxurious lounge with wet bar for entertaining, state-of-the-art gym with yoga room, rooftop lounge and additional storage units located on each floor. The multifamily community is slated for completion in spring 2017. Jon Mikula and Michael Klein of HFF secured the financing for the borrowers through Capital One Bank.

March 3, 2016

Georgia Retail Southeast

Edens Breaks Ground on $95M Moores Mill Development in Atlanta

by John Nelson March 3, 2016

ATLANTA — Edens, a Columbia, S.C.-based developer, owner and operator of shopping centers, has broken ground on Moores Mill, a 70,000-square-foot shopping center in Atlanta’s West Midtown District. The $95 million project will be anchored by Publix and feature a mix of retailers and restaurants, as well as apartment residences, according to the Atlanta Business Chronicle. Located on Moores Mill Road at Marietta Boulevard, Edens plans to deliver the property in June 2017. Edens held a groundbreaking ceremony on Wednesday, March 2 that was attended by Atlanta Mayor Kasim Reed, Edens executives, local government officials and economic development officers.

March 3, 2016

Mixed-Use North Carolina Southeast

Hankins Properties to Develop Mixed-Use Project in Winston-Salem MSA

by John Nelson March 3, 2016

CLEMMONS, N.C. — Hankins Properties plans to develop Clemmons Town Center, a 246,000-square-foot mixed-use development in Clemmons, a suburb of Winston-Salem. The project will feature retail and restaurants in a Main Street layout, a 139-room hotel, office space, surface parking lot and a two-tiered parking deck. The project will anchor the 340-acre Village Point project, which features a 312-unit apartment community, Novant’s $100 million hospital complex, Morgan Elementary School, WFBMC Medical Plaza and a Publix-anchored shopping center known as Peace Haven Village. Lewisville, N.C.-based Gillon Design is the project’s architect. Winston-Salem-based Meridian Realty Group brokered the sale of the 20-acre site between Hankins and the seller, Village Pointe LLC. Hankins has retained Meridian Realty to lease and manage the project, which is slated to break ground later this summer.

March 3, 2016

Archer Park Washington DC Congress Heights

Affordable Housing District of Columbia Multifamily Southeast

DCHFA Provides Construction Financing for Affordable Housing Property in D.C.

by John Nelson March 3, 2016

WASHINGTON, D.C. — The District of Columbia Housing Finance Agency (DCHFA) has provided acquisition and construction funding for Archer Park, a four-story, 190-unit affordable housing project in Washington, D.C.’s Congress Heights neighborhood. The developer, WC Smith, will build the community into the 1200 block of Mississippi Avenue Southeast. The project is being financed utilizing $28.2 million in DCHFA short- and long-term tax exempt bonds and $19.6 million raised through syndication of low income housing tax credits (LIHTCs). Archer Park is Phase I of a two-phase redevelopment project of the former Trenton Terrace apartment complex. Upon completion in summer 2017, Archer Park will feature 24 efficiency units, 95 one-bedroom units and 71 two-bedroom units. The project will be affordable to families whose incomes are at or below 60 percent of the area median income (AMI), with 14 units rented to families earning 30 percent or less of the AMI and 10 reserved as permanent supportive housing. The property will include a 128-space parking garage, solar panels on the roof, a roof terrace, fitness center, business center and a meeting room. Phase II of the project will be a 74-unit townhouse development that will be separately financed for sale.

March 3, 2016

Mixed-Use Northeast Pennsylvania Top Stories

Drexel, Brandywine Realty Trust Partner on Philadelphia’s $3.5B Schuylkill Yards Development

by John Nelson March 3, 2016

PHILADELPHIA — Drexel University and Brandywine Realty Trust (NYSE: BDN) will co-develop the Schuylkill Yards mixed-use community on a 14-acre site in Philadelphia. The development costs weren’t disclosed, but the Philadelphia Business Journal estimates total costs will reach $3.5 billion. Initial phases of the projected 20-year innovation development plan will consist of 5 million square feet of mixed-use real estate on a 10-acre site next to Drexel’s main campus and adjacent to Amtrak’s 30th Street Station. The master-planned neighborhood within Philadelphia’s University City submarket will feature entrepreneurial spaces, educational facilities and research laboratories, corporate offices, residential and retail spaces, hospitality, cultural venues and public open spaces. “Drexel University and Brandywine’s shared vision for the continued renaissance of University City provides a strong foundation for a long-term partnership. Together, we will create a dynamic and world-class innovation hub to attract the brightest minds to our region,” says Gerard Sweeney, president and CEO of Brandywine Realty Trust. “Schuylkill Yards will transform Philadelphia’s skyline as new towers rise on the west side of the Schuylkill River,” he continues. “Brandywine’s existing Cira Centre, EVO and FMC Tower at Cira Centre South projects in University City will provide a synergistic connection to Schuylkill Yards, creating …

March 3, 2016

westbend-fort-worth-trademark-property-company

Hospitality Mixed-Use Multifamily Retail Texas

Trademark to Purchase Land for Expansion of Westbend Mixed-Use Development

by Haisten Willis March 2, 2016

FORT WORTH, TEXAS — Trademark Property Co. is under contract to purchase 3.5 acres adjacent to its 278,000-square-foot WestBend mixed-use development in Fort Worth’s University District. The parcel is located on University Drive, immediately south of WestBend along the Trinity River. Conceptual planning is underway to develop additional mixed-use space including ground-floor retail with either a hotel or multifamily and condo units above. A Hawthorne Suites hotel currently occupies the site.

March 2, 2016

Georgia Mixed-Use Southeast

Jamestown to Open The Roof at Ponce City Market in Atlanta

by John Nelson March 2, 2016

ATLANTA — Jamestown plans to open the final phase of Ponce City Market known as The Roof at Ponce City Market. Located on the roof of the mixed-use development, the project will feature boardwalk-style amusement games and rides, an 18-hole miniature golf course and a slide. On April 3, The Roof will host a miniature golf tournament organized by the Kyle Korver Foundation, Plywood People and the Jamestown Charitable Foundation. Proceeds from the event, called Putt! Putt! Putt!, will support 18 local charities in Atlanta. The Roof will open to the public in mid-2016. Jamestown hopes to pay homage to the Ponce de Leon amusement park, which was formerly situated at the site of Ponce City Market. Located along the Atlanta BeltLine in the Old Fourth Ward, Ponce City Market features 259 residential units, 550,000 square feet of Class A loft office space, 300,000 square feet of retail and restaurants and a pedestrian bridge linking the interior courtyard and public market to the BeltLine.

March 2, 2016

Loans Massachusetts Multifamily Northeast

CBRE/NE Secures $28.1M Loan for Condo Development in South Boston

by Amy Works March 1, 2016

BOSTON — CBRE/New England has secured a $28.1 million loan for the the construction of a luxury condominium development in South Boston. The borrower, CPC Cornerstone Development, is developing the 49-unit property that will feature a 6,000-square-foot restaurant space. Located at 14 W. Broadway, the building will feature large floor plans, garage parking for all units, top-of-the-line finishes, a roof deck, 24-hour concierge, valet garage parking and a fitness center. The property will also feature six affordable units per Boston Redevelopment Authority Inclusionary Development Policy. John Kelly and Sam Dylag of CBRE/NE arranged financing for the borrower. Additionally, CBRE arranged $8 million in equity on behalf of the sponsor.

March 1, 2016

Healthcare Illinois Midwest

Duke Realty to Develop 80,000 SF Medical Office Building in Illinois

by Christina Cannon March 1, 2016

VILLAGE OF HUNTLEY, ILL. — Duke Realty will develop an 80,000-square-foot medical office building in the Village of Huntley, approximately 50 miles northwest of Chicago. The four-story building will be located on the Centegra Health campus. The facility is slated for completion in February 2017 and will connect to the 360,000-square-foot Centegra Hospital-Huntley, which has a completion date of August 2016. The medical office building will also connect to an existing 56,000-square-foot ambulatory care center. Tenants that have already signed leases at the building include Rosalind Franklin University of Medicine and Science, which will occupy 30,000 square feet and Northern Illinois Medical Center, which will occupy 20,000 square feet. Chicago-based Power Construction is the general contractor for the project, and Kahler Slater is the architect. St. Charles, Ill.-based O’Donnell Commercial Real Estate is managing leasing for the facility.

March 1, 2016

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