development1

DoubleTree by Hilton Park City – The Yarrow Opens in Utah

by Nellie Day May 1, 2015

Hilton recently debuted the DoubleTree by Hilton Park City – The Yarrow in Utah. This resort occupies a former resort, the Yarrow Resort Hotel & Conference Center, which received an extensive renovation. The property is located at 1800 Park Ave. It is situated near Park City Mountain Resort, Deer Valley Resort and Canyons Resort. The renovation will upgrade the hotel’s guestrooms, meeting spaces and public areas. Amenities include a year-round heated outdoor swimming pool and hot tub, 24-hour fitness center and a 24-hour business center. A new game room will open at the resort later this year. The Yarrow property also features 11,837 square feet of flexible event space, including a 5,100-square-foot ballroom that accommodates more than 700 guests.

May 1, 2015

Office Texas

Trammell Crow Completes Medical Plaza II Office Building in Houston

by Haisten Willis April 30, 2015

HOUSTON — Trammell Crow Co. has completed construction on Medical Plaza II at the Memorial Hermann Katy Hospital campus in Houston. The four-story, 100,000-square-foot building is the second building to be developed by Trammell Crow on the 66-acre campus. Memorial Hermann decided to add a new patient tower and additional medical office space in order to accommodate physicians at the hospital. Powers Brown Architecture designed the building. Trammell Crow Co. is developing a similar building to accompany its Medical Plaza I at Memorial Hermann Sugar Land Hospital, which is expected to be completed this fall.

April 30, 2015

Massachusetts Multifamily Northeast

Related Beal to Develop 239-Unit Affordable, Workforce Residential Project in Boston

by Amy Works April 30, 2015

BOSTON — Related Beal has unveiled its plans to develop a 239-unit affordable and workforce residential development in Boston’s Bulfinch Triangle neighborhood. The 14-story, 484,000-square-foot residential property will be part of a mixed-use development that will include a 220-key hotel, street-level retail space and on-site parking. The residential units will be restricted to and available for individuals, couples and families with qualified incomes ranging from 30 percent to 165 percent area median income. CBT Architects is providing architectural services for the project. Construction is expected to begin by December with completion slated for 2017.

April 30, 2015

Odenton Meade Center All American Steakhouse & Sports Theatre

Maryland Mixed-Use Southeast

Baybridge Properties Breaks Ground on Mixed-Use Project in Metro Baltimore

by John Nelson April 30, 2015

ODENTON, MD. — Baybridge Properties has kicked off construction on Phase I of Meade Center, a mixed-use project in Odenton, roughly 20 miles south of Baltimore. Phase I comprises the All American Steakhouse & Sports Theatre, which is slated for a fall 2015 opening. Phase II includes a 29,800-square-foot center with roughly 14,300 square feet of ground-level retail space and 15,500 square feet of second-floor office space. Phase II is expected to be completed by the second quarter of 2016. Klein Enterprises/Metropolitan Management LLC will lease the asset. The Meade Center location in Odenton will be All American Steakhouse & Sports Theatre’s eighth location, according to owners George Jones and Brock Anderson.

April 30, 2015

Indiana Midwest Multifamily Seniors Housing

Mainstreet, Trilogy Health Services Open Transitional Care Facility in Carmel, Ind.

by Danielle Everson April 29, 2015

CARMEL, IND. — Mainstreet and Trilogy Health Services have completed construction on a transitional care facility in Carmel. Wellbrooke of Carmel is located at 12315 Pennsylvania St. The new facility will provide transitional care (short-stay rehabilitation and therapy) and assisted living. Construction on Wellbrooke of Carmel started in April 2014. The 68,590-square-foot property includes 94 beds. Amenities include a therapy gym, an outdoor rehabilitation courtyard, a movie theatre, a game room, a spa and an on-site chef. The project, which represents a total investment of $15 million in the community, created 374 construction jobs and 120 permanent jobs. A community open house for Wellbrooke of Carmel will take place on May 3.

April 29, 2015

Hospitality Texas

Hilton, Centurion to Open The Statler Hotel & Residences in Dallas

by Haisten Willis April 29, 2015

DALLAS — Hilton Worldwide and Dallas-based Centurion American Development have signed a franchise license agreement to open The Statler Hotel & Residences in Dallas. Opening in October 2016, the refurbished hotel will be part of Curio by Hilton, a brand of upscale and luxury hotels for travelers. The original Dallas Statler Hilton was located at 1914 Commerce St. in downtown Dallas. Centurion American Development Group’s master plan includes 161 hotel rooms on the lower five floors and 219 residences on the top 11 floors. The building will include meeting space, retail and office space, four restaurants and a hotel lounge. A new music venue is also planned in the 14,500-square-foot ballroom. Development of the building is set to start at the beginning of May. Plano-based Aimbridge Hospitality will manage the hotel.

April 29, 2015

Atlanta Braves SunTrust Park Omni Atlanta Northwest Hotel

Georgia Hospitality Mixed-Use Southeast

New Omni Hotel Will Anchor Mixed-Use Campus Adjacent to Atlanta Braves’ SunTrust Park

by John Nelson April 29, 2015

ATLANTA — The Atlanta Braves and Omni Hotels & Resorts have partnered to develop a new Omni hotel in the mixed-use development adjacent to SunTrust Park in Cobb County. Known as the Omni Atlanta Northwest Hotel, the property will span 16 floors and feature 260 guest rooms. The hotel will comprise 12,500 square feet of meeting space, a signature restaurant and an elevated pool deck and bar overlooking the plaza and ballpark. Groundbreaking for the Omni Atlanta Northwest Hotel is expected to occur later this year. The Dallas-based hospitality company has 60 hotels and resorts in the top markets across the U.S., including the Omni Atlanta Hotel at CNN Center. SunTrust Park is set to open by April 2017 and will be the new home to the Atlanta Braves.

April 29, 2015

Loans Mixed-Use Multifamily New York Northeast Retail

HFF Arranges $360M in Financing for Development of Midtown Manhattan Condo Tower

by Amy Works April 29, 2015

NEW YORK CITY — HFF has arranged $360 million in financing for the development of 100 East 53rd Street, a luxury condominium project in Manhattan’s Midtown East neighborhood. The construction loan was arranged for a joint venture between RFR Holdings LLC and Vanke Holdings LLC/China (HK) Asset Management Co. Ltd. through the Industrial and Commercial Bank of China. The 61-story tower will feature 94 for-sale residences, as well as ground- and second-floor retail and restaurant space. Slated for completion in 2017, the Foster + Partners-designed property will offer studio, one-, two-, three- and four-bedroom floor plans, a swimming pool, sauna, steam room, fitness center, yoga room, Pilates studio, massage/spa treatment rooms, lounge, media room and concierge services. Hines is serving as co-developer of the project along with RFR Holding LLC. Compass and Classic Marketing are handling sales and marketing for the project. Mike Tepedino, Michael Gigliotti and Jennifer Keller of HFF represented the borrower in the financing.

April 29, 2015

Colorado Industrial Western

Additional Spec Property Coming to Majestic Commercenter in Aurora

by Nellie Day April 29, 2015

AURORA, COLO. — Majestic Realty Co. has announced plans to build an additional 452,400-square-foot speculative industrial warehouse and distribution facility at its Majestic Commercenter in Aurora. The center is located at the intersection of I-70 and Tower Road. The Class A industrial property is scheduled for completion in November. Majestic notes favorable market conditions, historically low industrial vacancy rates and recent lease agreements motivated the company to move forward on a sister property to its most recent 500,000-square-foot Building #28. Majestic recently signed long-term lease agreements with Fresca Foods for 158,000 square feet and Niagara Bottling for 132,000 square feet at Building #28. The new building will be constructed and designed by Commerce Construction Co.

April 29, 2015

Mixed-Use Texas

Trademark Property Co. Rebrands Mixed-Use Development in Metro Dallas

by Haisten Willis April 28, 2015

CEDAR HILL, TEXAS — Trademark Property Co., the operating partner for Uptown Village at Cedar Hill, has announced the 610,000-square-foot shopping center will be rebranded as Hillside Village. The new name and corresponding new brand were selected to reflect the garden-like look and feel planned as part of a multi-million dollar property renovation to attract a broader trade area, and to pay homage to the community in which it lies. Planned improvements to Hillside Village include enhanced entrances, public spaces and vehicular access, upgraded landscaping, façade improvements, a new children’s play area, new amenities for adults and children, and new signage throughout the property. Hillside Village currently includes 350,000 square feet of specialty stores and restaurants. Anchor retailers are Barnes & Noble, Dillard’s and Dick’s Sporting Goods along with 31,000 square feet of office space. The center features more than 65 tenants including Charming Charlie, Chico’s, H&M (opening this fall) Hollister, James Avery, Old Navy, Papaya, The Children’s Place and Victoria’s Secret.

April 28, 2015

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