development1

Wood Partners Breaks Ground on Multifamily Community in Charlotte

by John Nelson June 8, 2015

CHARLOTTE, N.C. — Wood Partners LLC has broken ground on Alta Berewick, a 266-unit apartment community located on a 16-acre lot at 5503 Dixie River Road in Charlotte. Wood Partners expects to have apartments available for lease in February 2016, with construction slated for a December 2016 completion. This apartment community marks the 15th property that Wood Partners has developed in North Carolina. Architect Cline Design Associates has designed the property to comprise one- to three-bedroom units, each featuring stainless steel appliances, washers and dryers, granite countertops and faux wood flooring. The community’s amenity offerings include a fitness center, resort-style pool, clubroom, cyber café and a playground. Wood Partners purchased the lot from Berewick Town Center III for an undisclosed price. Wood Partners’ equity partner on the project is Sumitomo Corporation of the Americas, and the community’s general contractor is WP East Builders. Wood Residential Services will manage the community upon completion.

June 8, 2015

California Multifamily Seniors Housing Western

Integral Senior Living to Manage New Community Kingston Bay in California

by Nellie Day June 8, 2015

FRESNO, Calif. — Integral Senior Living (ISL), a seniors housing operator based in Carlsbad, will manage Kingston Bay Senior Living in Fresno, which recently started construction. ISL expects the community to open in spring of 2016. Quiring General, a seniors housing-focused construction company headquartered in Fresno, is building Kingston Bay. Sitting on four acres, the 86,467-square-foot community will have 107 units, which will consist of 61 one-bedroom and 22 bedroom assisted living apartment homes, as well as 24 memory care residences. This senior living community will provide an active and healthy lifestyle while promoting independence and upholding the dignity of the residents.

June 8, 2015

Multifamily New Jersey Northeast

Woodmont Properties Opens Woodmont Station at Cranford

by Amy Works June 5, 2015

CRANFORD, N.J. — Woodmont Properties has opened Woodmont Station at Cranford, an apartment community located in Cranford. Located at 555 S. Avenue East, the Woodmont Station at Cranford features 163 one-, two- and three-bedroom apartments in six different floor plans ranging from 858 and 1,238 square feet. The apartments feature gourmet kitchens with quartz countertops, full stainless steel appliance packages and bar-style seating. Community amenities include an outdoor spa pool and barbecue terrace, game room, strength and cardio center, state-of-the-art fitness studio with virtual classes on demand, clubroom with resident lounge, cyber café, bark park and an indoor pet spa. The company broke ground on the property, which is more than 50 percent leased, in 2013.

June 5, 2015

Indiana Industrial Midwest

The Opus Group Develops Spec Industrial Property in Indianapolis

by Amy Works June 5, 2015

INDIANAPOLIS — The Opus Group is developing a speculative industrial property at 3901 Hanna Circle at the Airport Business Center in Indianapolis. The industrial office and warehouse facility will feature 433,000 square feet of space. Situated on 26.2 acres, the property will feature 32-foot clear heights, 40 loading docks with four drive-in doors, ESFR sprinkler systems, T-5 fluorescent lighting and parking for 288 cars and 63 trailers. Construction began in May, with completion slated for February 2016. The building will be owned by a joint venture partnership between Opus Development Co. and Founders Properties. Opus Development Co. is the project’s developer, Opus Design Build is serving as design-builder and Opus AE Group is the architect and engineer of record. DTZ has been retained to market the property for lease.

June 5, 2015

HFF Arranges $556M Construction Loan for Full-Block Manhattan Office Tower

by Nellie Day June 5, 2015

NEW YORK – HFF has arranged a $556 million construction loan for a full-block office development on Manhattan’s Park Avenue. The 47-story tower will be located at 425 Park Ave. in Midtown’s Plaza District. L&L Holding Company and GreenOak Real Estate are developing the 670,000-square-foot project. This will be the first full-block office development on Park Avenue in nearly 50 years, according to HFF. The new project will feature flexible floor plate sizes and layouts. All floors will contain views of Midtown. Central Park will be visible to floors 24 and higher. The development is also situated near Rockefeller Center. Project amenities include a private garage for tenants with a special car lobby, a private building entrance and a chauffeurs’ lounge. It will also contain a space dedicated to amenities on the 26th floor that will feature outdoor areas with views of Central Park, a wellness center, and dining, meeting and conference rooms. The lobby will contain an atrium with floor-to-ceiling glass. The building’s 56th Street and Park Avenue corner will boast a high-end restaurant, while the 55th Street and Park Avenue corner will house retail and gallery space. HFF’s Mike Tepedino, Michael Gigliotti and Jennifer Keller arranged the construction …

June 5, 2015

Florida Loans Mixed-Use Southeast

George Smith Partners Secures $125M Loan for Phase I of Celebration Pointe

by John Nelson June 5, 2015

GAINESVILLE, FLA. — Los Angeles-based George Smith Partners has closed a $125 million construction loan for the development of Celebration Pointe, a large-scale mixed-use development underway in Gainesville. George Smith Partners secured the financing on behalf of the project’s developers, comprising Gainesville-based SHD Development, Atlanta-based Ra Co Real Estate Advisors and Miami-based 1220G. Located at the intersection of I-75 and Archer Road and anchored by Bass Pro Shops, the $200 million, 1 million-square-foot Celebration Pointe will feature a mix of approximately 400,000 square feet of entertainment, outlet retail and restaurants uses, as well as a new 137-room Hotel Indigo. Phase I of Celebration Pointe is slated to open in fall 2016.

June 5, 2015

the Old No. 77 Hotel & Chandlery New Orleans

Hospitality Louisiana Southeast

Provenance Hotels, GB Lodging, Woodbine Open New Hotel in New Orleans’ Warehouse Arts District

by John Nelson June 4, 2015

NEW ORLEANS — Provenance Hotels, GB Lodging and Woodbine Development Corp. have partnered to co-develop and open the Old No. 77 Hotel & Chandlery, a boutique hotel located in New Orleans’ historic Warehouse Arts District. Originally built in 1854, the historic property is located at the intersection of Tchoupitoulas and Lafayette streets, roughly four blocks from the French Quarter. The hotel features hardwood floors, exposed brick walls, an art collection courtesy of the New Orleans Center for the Creative Arts and a new restaurant. Nina Compton is the head chef and owner of the restaurant, known as Compere Lapin. In August 2013, Provenance Hotels and GB Lodging purchased the historic hotel property, then known as the Ambassador Hotel. The companies partnered with Woodbine Development to renovate the hotel and expand the guest room count to 167. According to the hotel’s website, rooms rent for as low as $109 per night.

June 4, 2015

Hospitality Illinois Midwest

Holladay Properties, WoodSpring Suites Break Ground on Hotel in Romeoville, Ill.

by Amy Works June 4, 2015

ROMEOVILLE, ILL. — Holladay Properties has partnered with WoodSpring Suites, formerly Value Place, to develop the first WoodSpring Suites hotel in Romeoville, located west of Chicago. Located at 1093 Windham Parkway, the four-story hotel will feature 116 rooms with in-room kitchens, free high-speed Internet and guest laundry facilities. The hotel is slated to open in April 2016.

June 4, 2015

Georgia Retail Southeast

Newly Opened Dollar General in Georgia Marks Company’s 12,000th Store

by John Nelson June 4, 2015

JULIETTE, GA. — Goodlettsville, Tenn.-based Dollar General Corp. has opened its 12,000th store in the small, historic town of Juliette. Dollar General anticipates opening 730 new stores in 2015 and plans to remodel or relocate an additional 875 stores. “It is exciting to open our 12,000th store and move into new communities where we can serve customers with everyday low prices, convenience and great service,” says Rick Dreiling, Dollar General’s chairman and CEO. With 12,000 stores in 43 states, Dollar General has more retail locations than any retailer in America.

June 4, 2015

New Jersey Northeast Office

The S.Hekemian Group Breaks Ground on 46,000 SF Office Building in New Jersey

by Amy Works June 4, 2015

ENGLEWOOD, N.J. — The S.Hekemian Group has broken ground for construction of Englewood South Phase 4 (ES4), a Class A office building located at 10 Sterling Blvd. in Englewood. The 46,000-square-foot office building, which will feature ground-floor retail space, is slated for completion in first quarter 2016. ES4 will feature strong exterior architecture with classic masonry and refined finishes throughout the interior. Tenant spaces will feature oversized ceiling heights and loft-like, open-plan build-outs with exposed ceilings and ductwork. Brian Silbert and Wayne Kasbar of Silbert Realty & Management are the exclusive leasing agents for the property.

June 4, 2015

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