development1

Construction Commences on New $90M Tehachapi Critical Care Replacement Hospital

by Nellie Day October 22, 2015

BAKERSFIELD, CALIF. — Construction has commenced on a new 25-bed Tehachapi Critical Care Replacement Hospital 35 miles southeast of Bakersfield. The $90 million project is a joint venture between Bernards and Colombo Construction. The 77,889-square-foot critical access facility will offer acute care and outpatient services. It will be the only healthcare facility in Tehachapi, a rural area of Kern County. The hospital will include 16 medical/surgical beds, four intensive care beds and a five-bed obstetrical (labor and delivery/postpartum) unit. It will also contain an emergency room, anesthesia services, a radiology/imaging center, a clinical laboratory, dietetic services space, a pharmacy and nearly 16,000 square feet for administrative offices. The property will also include facility support functions like a central plant, general storage area and laundry area. Tehachapi Critical Care Replacement Hospital is scheduled for completion in 2016. SWA Architects is designing the project.

October 22, 2015

California Multifamily Western

Adagio on the Green Debuts in Mission Viejo

by Nellie Day October 22, 2015

MISSION VIEJO, CALIF. — Wermers Properties has debuted the 256-unit Adagio on the Green luxury apartment complex in Mission Viejo. The community is located at 26600 Oso Parkway. Adagio sits adjacent to the Mission Viejo Country Club.

October 22, 2015

California Retail Western

Simon to Complete Redevelopment of Stanford Shopping Center and Add 14 Tenants

by Nellie Day October 21, 2015

PALO ALTO, CALIF. — Shopping mall developer Simon Property Group is set to complete its redevelopment of Stanford Shopping Center, a mall located in Palo Alto, and add 14 new tenants to open in spring 2016. The Plaza, Simon’s reimagined public space, includes gardens, lawn space, a water feature with infinity edges and a new outdoor venue for special events. The reimagined public space, nearing completion in November, will also include suspended wooden trellis with decorative lighting and an open-air, granite-clad fireplace. New retailers set to open at the center will include Anthropologie, Allen-Edmonds Shoe, LUSH Fresh Handmade Cosmetics, Luisa Spagnoli, AllSaints, lululemon, Everything But Water, The North Face, Uno de 50, Vineyard Vines, Pink Posy, True Food Kitchen, Tender Greens, and Minamoto Kitchoan. Stanford Shopping Center expects a total of 25 new stores to open during late spring 2016.

October 21, 2015

Foundry Row Owings Mills Baltimore County Wegmans

Maryland Retail Southeast

Greenberg Gibbons, Vanguard Break Ground on Wegmans at Foundry Row in Baltimore County

by John Nelson October 21, 2015

OWINGS MILLS, MD. — Greenberg Gibbons and Vanguard have begun construction on a 110,000-square-foot Wegmans grocery store at Foundry Row, a $140 million mixed-use development in Baltimore County. The 50-acre project is a redevelopment of a former Solo Cup factory located on Reisterstown Road in Owings Mills. Wegmans expects to open its new store in September 2016. Other committed tenants at Foundry Row include LA Fitness, Sports Authority, DSW, Ulta Beauty, Panera Bread, Zoe’s Kitchen, Smashburger, Nally Fresh and LifeBridge Health. Foundry Row is expected to support 2,300 full- and part-time jobs in Baltimore County during the construction phase, and will permanently support nearly 3,100 jobs.

October 21, 2015

Mixed-Use Southeast Tennessee

Doster Construction Completes Mixed-Use Development in Metro Nashville

by John Nelson October 21, 2015

BRENTWOOD, TENN. — Birmingham, Ala.-based Doster Construction Co. has completed construction on Tapestry at Brentwood Town Center, a mixed-use development located in the Nashville suburb of Brentwood. The property comprises two four-story buildings spanning 393 units. In addition to the property’s retail space, the project’s amenities include two courtyards with a pool, a zen garden space with four outdoor kitchens, sports lounge, demonstration kitchen, billiard table, large clubhouse with terrace deck, conference room, leasing office area, retail space and a “fitness bridge” that features a yoga room and gym with workout equipment. The fitness bridge spans the two buildings and the paved entrance to the property that accesses the two parking decks wrapped by each building. The retail space at Tapestry is soon to be filled with a restaurant, and the areas surrounding Tapestry include Brentwood Place Shopping Center that features a Nordstrom Rack and Kroger. Northwestern Mutual Life Insurance Co. is the project’s owner, Bristol Development is the developer and Fugleberg Koch Architects is the architect.

October 21, 2015

Hospitality Texas

Hyatt Regency Houston Galleria Opens

by Haisten Willis October 19, 2015

HOUSTON — The Hyatt Regency Houston Galleria has opened at 2626 Sage Road in Houston. The 14-story hotel, managed by Aimbridge Hospitality, marks the ninth Hyatt-branded hotel to open in the Houston area. The hotel is part of the 7.6-acre Galleria Plaza development, which includes retail, apartments and office towers. The development will also include Hyatt Place Houston Galleria, adjacent to Hyatt Regency Houston Galleria. The Hyatt Place hotel is under construction and is expected to open in early 2016. Hyatt Regency Houston Galleria features 325 rooms, including 20 suites and eight accessible rooms. The hotel features more than 11,000 square feet of functional space and an additional 7,800 square feet of lobby and gathering space. On the third floor is a heated, outdoor swimming pool and sun deck.

October 19, 2015

Maryland Multifamily Southeast

Wood Partners to Break Ground on Apartment Community in Maryland

by John Nelson October 19, 2015

LAUREL, MD. — Wood Partners plans to break ground on a new 340-unit apartment community in Laurel, a city situated halfway between Baltimore and Washington, D.C. The property, known as The Residences Towne Centre at Laurel, will be located on a 5.2-acre site adjacent to the Towne Centre at Laurel, a 400,000-square-foot mixed-use development that features an Old Navy, Outback Steakhouse, Mission BBQ and Panera Bread. Designed by JDavis Architects, the new community will comprise a 640,000-square-foot, four-story building wrapping a 555-space parking garage. The units will feature quartz countertops, stainless steel appliances, tile backsplashes, oversize tubs, vinyl plank flooring, upgraded lighting and hardware packages and full-size washers and dryers. Community amenities will include lounge spaces, a game room, café, business center, fitness facility with a yoga studio, additional storage space, bicycle storage and a pet spa. CBRE represented the seller, Greenberg Gibbons, in the land sale. Leasing is anticipated to begin in early 2017, with construction scheduled for completion by the summer of 2017.

October 19, 2015

Loans Midwest Minnesota Mixed-Use

Oak Grove Capital Originates $9.3M FHA Loan for New Mixed-Use Property in Minneapolis

by Christina Cannon October 16, 2015

MINNEAPOLIS — Oak Grove Capital has originated a $9.3 million FHA loan for the construction of Broadway Flats, a mixed-use property located in north Minneapolis. The property will include commercial space and workforce housing. Ken Dayton and Pat McMullen of Oak Grove Capital arranged the loan. The property is being built in an effort to revitalize the damage resulting from a tornado in 2011. The 19,000-square-foot commercial space is slated to open in April 2016, followed by the opening of 103 housing units in July 2016. Building amenities will include a business center, fitness room, conference room and underground parking. Plans to integrate a metro transit shelter into the exterior of the building should go into effect in 2017.

October 16, 2015

Multifamily New York Northeast

Joint Venture Launches Leasing at One Sixty Madison in NoMad

by Amy Works October 16, 2015

NEW YORK CITY — J.D. Carlisle Development Corp., in partnership with DLJ Real Estate Capital Partners and Mitsui Fudosan America Inc., has launched leasing at One Sixty Madison, a new residential tower located in NoMad, at the nexus of Chelsea, Gramercy and Midtown. Designed by SLCE Architects, the 45-story octagonal building features 319 rental residences in a mix of studios, one- and two-bedroom homes. The interior spaces, which were designed by Philip Koether Architects, feature floor-to-ceiling windows, oak floors and panoramic views. On-site amenities include the Three Sixty Lounge atop the building, an indoor fireplace, two expansive rooftop terraces, a 14,000-square-foot Park Lounge, a fitness center, valet and concierge services, bicycle storage and a fully attended lobby.

October 16, 2015

Multifamily Texas

Stonemont Financial, Preiss Co. to Develop Apartment Complex in San Marcos

by Haisten Willis October 16, 2015

SAN MARCOS, TEXAS — Stonemont Financial Group and The Preiss Co. will develop and complete the new Ella Lofts, a 252-bed off-campus student housing community within walking distance of the Texas State University campus. Located at 817 Chestnut St. in San Marcos, Ella Lofts will feature amenities including a 24-hour fitness center, group study areas, outdoor courtyards and a pool. The project will also feature one-, two- and four-bedroom loft floor plans. Formerly known as 817 Lofts, the project originally started construction under a different developer in 2013 and was set to be completed in August 2014. After construction delays and other stalls, the project sat dormant until Stonemont Financial purchased it in September. With more than 38,000 students enrolled, Texas State University is the fourth largest institution in the state of Texas. The Preiss Co. will serve as developer and manager for the project. Leasing is underway at the Ella Lofts leasing office located at 316-D Edward Gary Drive in San Marcos. Monthly rent will begin at $499 per student, which includes utilities and furniture.

October 16, 2015

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