development1

Taurus, AOG Living Break Ground on 348-Unit Multifamily Project in East Austin

by Taylor Williams February 23, 2024

AUSTIN, TEXAS — A partnership between Taurus Investment Holdings and AOG Living has broken ground on The Evergreen at Whisper Valley, a 348-unit multifamily project in East Austin. Designed by The Sage Group and located within the 2,670-acre Whisper Valley master-planned community, the property will offer one, two- and three-bedroom units. Amenities will include a pool, fitness center, resident clubhouse, business center, beer garden, dog park and nature trails. Residents will also have access to a 600-acre public park. Delivery is slated for spring 2025.

February 23, 2024

Development Loans Mixed-Use New York Northeast

United Group of Cos. Receives Construction Financing for Mixed-Use Project Near Albany

by Taylor Williams February 23, 2024

TROY, N.Y. — United Group of Cos. has received construction financing from Berkshire Bank for City Station North, a $42 million mixed-use project in Troy, located just outside of Albany. The project represents the fourth phase of the larger City Station development that began in 2009. The latest phase will feature 87 one- and two-bedroom apartments and Class A amenities, 40,000 square feet of office space that will be the future home of United Group’s headquarters and 154 covered and surface parking spaces. Project partners include QPK Design, Colliers Engineering & Design and Franco Construction Services. Completion is slated for late 2025.

February 23, 2024

Development Multifamily Texas

Trademark Breaks Ground on 321-Unit Vickery Apartments in Downtown Fort Worth

by Taylor Williams February 22, 2024

FORT WORTH, TEXAS — Trademark Property Co. has broken ground on The Vickery, a 321-unit multifamily project in downtown Fort Worth. Designed by GFF and developed in partnership with SCOA Real Estate Partners, The Vickery will consist of 307 apartments, 14 townhomes and a 5,300-square-foot restaurant with a second-story lounge. Residential amenities will include a pool, rooftop lounge, coworking space and two dog parks. First United Bank provided a $61 million construction loan for the project. Heather McClure and Jonathan Paine of Walker & Dunlop arranged the loan on behalf of Trademark. The first units are expected to be available for occupancy in spring 2026.

February 22, 2024

Development Industrial Self-Storage Texas

Bakke, Batson-Cook Break Ground on 987-Unit Self-Storage Facility in New Braunfels, Texas

by Taylor Williams February 21, 2024

NEW BRAUNFELS, TEXAS — A partnership between San Antonio-based Bakke Development Corp. and Atlanta-based Batson-Cook Development Co. (BCDC) has broken ground on an 987-unit self-storage facility in New Braunfels, a northeastern suburb of San Antonio. The site along I-35 spans 1.8 acres, and the building will rise four stories and house 104,875 net rentable square feet of climate-controlled space. Project partners include Alamo Architects, civil engineer INK Civil, general contractor Independent Contractors and construction lender Frost Bank. Completion is slated for the first quarter of 2025. The project marks the fifth self-storage collaboration between Bakke and BCDC, with construction on the most recent project, a 762-unit facility in McAllen, beginning earlier this month.

February 21, 2024

Development Mixed-Use Texas

City of Fate Approves 267-Acre Lafayette Crossing Mixed-Use Project

by Taylor Williams February 20, 2024

FATE, TEXAS — The City Council of Fate, located northeast of Dallas, has approved plans for Lafayette Crossing, a 267-acre mixed-use project. A California-based entity doing business as D-F Funds, which is represented by Jim Wills of Dallas-based 5054 Development, owns the land and is leading the development of the project. Preliminary plans call for retail and restaurant space, a full-service grocery store and café, hospital, light manufacturing facilities, a 120-room hotel and residences across a variety of formats, including single-family, apartments, condos and townhomes. Lafayette Crossing will also feature several open green spaces, lawns and pocket parks for public gatherings and recreational events, some of which will be developed in partnership with the city. Construction of Phase I will begin this fall with the launch of $11 million in infrastructural upgrades and is expected to be complete in spring 2028.

February 20, 2024

Loews-Arlington-Hotel-&-Convention-CenterLoews-Arlington-Hotel-&-Convention-Center

Development Hospitality Texas

Loews Opens $550M Hotel, Convention Center in Arlington

by Taylor Williams February 15, 2024

ARLINGTON, TEXAS — Loews Hotels & Co. has opened the Loews Arlington Hotel & Convention Center, a $550 million development located in between AT&T Stadium and Globe Life Field in the city’s Entertainment District. Loews developed the 888-room hotel and adjoining 266,000-square-foot convention center in a public-private partnership with the City of Arlington, the Texas Rangers baseball team and The Cordish Cos., a Baltimore-based owner-operator of entertainment venues. The 21-story hotel also connects to the 300-room Live! by Loews Arlington Hotel, which opened several years ago and offers an additional 300 rooms. The new hotel houses five food-and-beverage establishments and resort-style amenities such as two pools, a spa and salon, water slide and a man-made sandy beach. HKS served as the project architect, and Looney & Associates handled the interior design. JE Dunn served as the general contractor.

February 15, 2024

Affordable Housing Development Multifamily Texas

Palladium USA to Develop $35M Affordable Housing Project in Northeast Houston

by Taylor Williams February 14, 2024

HOUSTON — Dallas-based multifamily developer Palladium USA will develop a $35 million affordable housing project in northeast Houston. Palladium Houston Ella will be a three-story, 146-unit building that will house one-, two- and three-bedroom units. About 78 percent (115) of the units will be reserved for renters earning between 30 and 60 percent of the area median income, and the remainder will be rented at market rates. Amenities will include a pool, fitness center, conference center, dog park, computer lounge, kid’s play area and a clubroom. Palladium USA is developing the project in partnership with the Harris County Housing Finance Corp. HEDK Architects is designing the property, and Brownstone Construction is serving as the general contractor.

February 14, 2024

Development Multifamily Texas

McNair Interests Begins Construction on 371-Unit Multifamily Project in Houston

by Taylor Williams February 13, 2024

HOUSTON — Locally based developer McNair Interests has begun construction on a 371-unit multifamily project in Houston’s Timbergrove neighborhood. The five-story building at 3001 W. 11th St. will house one-, two- and three-bedroom units with an average size of 813 square feet. Amenities will include a pool, fitness center, outdoor grilling and dining stations, dog park and coworking space. Houston-based architecture firm Munoz & Albin designed the community, with Atlanta-based Preston Partnership serving as the architect of record. Dallas-based Ink+Oro handled interior design. Cadence McShane is the general contractor. The first units are expected to be available for occupancy in early 2025.

February 13, 2024

Development Industrial Texas

Grandview, Brennan to Develop 393,796 SF Industrial Project in Laredo, Texas

by Taylor Williams February 12, 2024

LAREDO, TEXAS — A joint venture between Connecticut-based Grandview Partners and Chicago-based Brennan Investment Group will develop a 393,796-square-foot industrial project in the Rio Grande Valley city of Laredo. The site spans 24 acres within the 1,390-acre Pinnacle Industry Center development. Building features will include 32-foot clear heights, 195-foot truck court depths and parking for 152 cars and 199 trailers. Construction is expected to begin in the coming weeks and to last about 12 months.

February 12, 2024

Development Industrial Self-Storage Texas

Bakke, Batson-Cook Break Ground on 762-Unit Self-Storage Facility in McAllen, Texas

by Taylor Williams February 9, 2024

MCALLEN, TEXAS — A partnership between San Antonio-based Bakke Development Corp. and Atlanta-based Batson-Cook Development Co. (BCDC) has broken ground on an 762-unit self-storage facility in the Rio Grande Valley city of McAllen. The site on South McColl Road spans roughly two acres, and the building will rise three stories and house 85,825 net rentable square feet of climate-controlled space. Project partners include Alamo Architects, civil engineer Halff, general contractor Independent Contractors and construction lender Security State Bank. Completion is slated for the first quarter of 2025. The project marks the fourth self-storage collaboration between the two firms, with the most recent project, an 802-unit facility also in McAllen, beginning in early 2023.

February 9, 2024

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