development1

Sunrise Set to Open 80-Unit Seniors Housing Community in Los Angeles

by Nellie Day February 25, 2016

LOS ANGELES — Sunrise Senior Living is set to open Sunrise at Palos Verdes in Los Angeles in March, marking the operator’s 42nd community in California. The community will include 80 units of assisted living and memory care, each of which will have flexible uses depending on the resident’s needs. The community is four stories and 67,000 square feet. Marguerite Crockem, formerly executive director of Sunrise of Fullerton, will be executive director of the new community. Based in McLean, Va., Sunrise is the fourth-largest operator of seniors housing in the U.S., according to June 2015 numbers from the American Seniors Housing Association.

February 25, 2016

California Hospitality Top Stories Western

Tutor Perini to Build $285M Resort, Casino Expansion in Southern California

by John Nelson February 25, 2016

TEMECULA, CALIF. — The Pechanga Development Corp., the economic development branch of the Pechanga Band of Luiseño Indians, has selected Tutor Perini Building Corp. to expand the Pechanga Resort & Casino in Temecula, roughly 60 miles north of San Diego. The contract is valued at $285 million. “Perini was the general contractor for the original Pechanga resort that opened in 2002. This development will complement our current offerings, enhance the resort experience for guests, and cement Pechanga Resort & Casino as the preeminent luxury gaming destination in California,” says Patrick Murphy, president of the Pechanga Development Corp. The resort expansion project involves adding a AAA Four Diamond, 568-room hotel wing; a standalone luxury two-story spa and salon with 17 treatment rooms, a fitness center and hydrotherapy pool terrace; a resort-style pool complex with eight pool areas; two new restaurants; and an additional 67,000 square feet of event space. Tutor Perini previously completed multiple phases of the Pechanga Resort & Casino over the past 13 years. Tutor Perini expects the expansion to be “substantially completed” by the end of 2017. Pechanga Resort & Casino is the largest resort/casino in California and employs roughly 4,000 team members, according to the casino’s website. …

February 25, 2016

Office Texas

KDC to Develop 150,000 SF Office Building in Dallas

by Haisten Willis February 24, 2016

DALLAS — KDC plans to develop a multi-story office building within the $200 million West Love mixed-use project near Dallas Love Field Airport. Located at 2345 W. Mockingbird Lane, KDC’s 150,000-square-foot office building will include structured parking along with views of Love Field and downtown Dallas. The office building is a key element in the mixed-use plan for West Love, located on 37 acres between Maple Avenue and Forest Park Road. In addition to the office building, West Love’s initial phase includes two Starwood hotels, 368 apartment homes and 65,000 square feet of retail and restaurant space. A later phase will include an additional 750 apartments. West Love will be a pedestrian-friendly community with extensive landscaping. Starwood Hotels & Resorts Worldwide, Atlantic Hotels Group and Civitas Capital Group are developing the 224-room, dual-branded Aloft and Element hotel project, now under construction and slated for completion in December. Highridge Partners and affiliates will develop the apartments and retail spaces, which are expected to be completed in mid-2017.

February 24, 2016

Hospitality Mixed-Use Multifamily New York Northeast Office Restaurant Retail

Triangle Equities Breaks Ground on Lighthouse Point in Staten Island

by Amy Works February 24, 2016

NEW YORK CITY — Triangle Equities has broken ground on Lighthouse Point, a $200 million mixed-used project on the St. George waterfront in Staten Island. Triangle, along with its partner, Lubert Adler LLP, secured construction financing for the first phase of development. The project is being financed through a partnership of private and public sector groups, including $30 million of construction loans and tax credit equity from the Goldman Sachs Urban Investment Group, $29 million of construction loans from Citizens Bank, $16.5 million from Empire State Development, $6.2 million of capital from New York City, and joint venture equity from Triangle and Lubert Adler. The first phase, which is slated for completion in 2017, will feature 65,000 square feet of retail and office space, as well as restaurant space, entertainment space and a 12-story residential tower with 116 apartment units. Regus, a shared workspace provider, has signed a 15-year lease to occupy 30,000 square feet of space at the first phase. Following completion of the first phase, Triangle will rehabilitate and repurpose the four historic structures, historic wall and multiple underground vaults currently situated on the site. This repurposing will allow for additional restaurant, office and hospitality space, including a …

February 24, 2016

Colorado Retail Western

Massage Heights Plans Aggressive Franchise Expansion

by Nellie Day February 24, 2016

DENVER — Massage Heights, a leader of therapeutic massage and facial services, opened nearly two dozen locations in 2015. Ramping up franchise expansion, Massage Heights plans to open 40 locations this year and have 300 open by the end of 2018. As part of its growth strategy, the brand plans to develop franchised locations in cities like Denver, San Diego and Las Vegas in 2016. Additionally, Massage Heights is seeking area developers to grow the brand in Sacramento, Calif., Los Angeles and Salt Lake City.

February 24, 2016

Multifamily North Carolina Southeast

Stiles, Grubb Ventures to Develop Apartment Community in Raleigh

by John Nelson February 23, 2016

RALEIGH, N.C. — Stiles Residential Group, a division of Fort Lauderdale, Fla.-based Stiles, and Raleigh-based Grubb Ventures have partnered to develop a new 186-unit mid-rise apartment community in Raleigh. Located at the intersection of Glenwood Avenue and Oberlin Road inside the I-440 Beltline, the Class A project will be situated adjacent to Carolina Country Club and near downtown Raleigh and Cameron Village. Apartment homes in the unnamed property will include studio, one-, two- and three-bedrooms ranging in size from 600 square feet to more than 1,700 square feet. Community amenities will include three resident lounges/clubrooms, a café, resort-style pool and outdoor entertainment area, terrace overlooking the adjacent golf course, fitness center and a landscaped courtyard with seating areas and a bocce ball court. Construction is scheduled to commence in March and first move-ins are anticipated to be in early summer 2017.

February 23, 2016

Illinois Industrial Midwest

PREMIER Design + Build Completes Two Speculative Warehouses in Libertyville, Illinois

by Christina Cannon February 23, 2016

LIBERTYVILLE, ILL. — PREMIER Design + Build LLC has completed the construction of two speculative warehouses in Libertyville, approximately 40 miles northwest of Chicago. The facilities are situated on 21 acres at 804 E. Park Ave. Bridge Development Partners is the project developer. Building 1 at Bridge Point 94 is 185,670 square feet, and Building 2 is 220,542 square feet. Both Class A facilities feature 32-foot clear heights, 56 truck dock positions and ESFR sprinklers. The buildings share a parking lot with 536 spaces. Cornerstone Architects Ltd. provided architectural services, and Pearson, Brown & Associates Inc. was the civil engineering firm. John Hauser and Michael Fonda of Avison Young are overseeing the lease-up of the building.

February 23, 2016

Chuys-san-marcos-texas-springtown-shopping-center

Restaurant Retail Texas

Chuy’s to Open New Location in San Marcos

by Haisten Willis February 22, 2016

SAN MARCOS, TEXAS — Austin-based Tex-Mex chain Chuy’s has signed a lease to open a restaurant in San Marcos. Chuy’s will open in the Springtown Shopping Center, which is receiving a $27.4 million overhaul by Austin-based Endeavor Real Estate Group. The center is located at 205 W. Hopkins St. along I-35. Chuy’s will occupy 6,500 square feet along with and an outdoor patio. Construction will begin in March, with the restaurant opening sometime this summer. Founded in Austin in 1982, Chuy’s owns and operates 69 full-service restaurants across 14 states. Since 2010, San Marcos’s population has increased by 30 percent

February 22, 2016

Florida Retail Southeast

Miami Worldcenter’s Owners Unveil Plans for High Street Retail Component

by John Nelson February 22, 2016

MIAMI — Miami Worldcenter Associates, in collaboration with The Forbes Co. and Taubman, has unveiled plans for the high street retail promenade and plaza at Miami Worldcenter, a $2 billion, 27-acre mixed-use development located in Miami. The retail component will feature a pedestrian-oriented, open-air streetscape surrounded by residential towers, a hotel and exposition center and a variety of dining and entertainment options. The retail promenade will run from northeast 10th Street to northeast 7th Street, and will be located near a large open-air public plaza set to be developed on 1st Avenue. This plaza will be surrounded by shops and restaurants, and will create a central gathering place and outdoor event space within the complex.

February 22, 2016

Multifamily Seniors Housing South Carolina Southeast

Cardinal Ventures Breaks Ground on 88,000 SF Seniors Housing Community in Metro Columbia

by John Nelson February 22, 2016

ELGIN, S.C. — Cardinal Ventures, a developer based in Mississippi, has broken ground on The Blake at Woodcreek Farms, a seniors housing community located within the 2,300-acre resort-style community of Woodcreek Farms in the Columbia suburb of Elgin. The Blake at Woodcreek Farms will total 88,000 square feet, with a scheduled opening in early 2017. The community will have assisted living and memory care apartments. Development costs and number of units were not disclosed. Blake Management Group will operate the community once complete. The company currently manages other Blake-branded communities in Alabama, Louisiana, Mississippi and Tennessee.

February 22, 2016

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