development1

University House Midtown Atlanta Inland Georgia Tech

Inland American Communities to Top Off University House Midtown in Atlanta

by John Nelson January 22, 2015

ATLANTA — Inland American Communities Group (IAC) will top off University House Midtown, a 20-story student housing development in Midtown Atlanta, tomorrow. The 268-unit community is located at 930 Spring St., adjacent to Georgia Tech. The 706-bed property will feature more than 9,000 square feet of retail space, a resort-style pool on an elevated terrace, secured parking garage, business center, study rooms, fitness center and a lounge on the top floor with skyline views. IAC is working with local project partners, including architect Niles Bolton Associates, civil engineer Eberly & Associates and general contractor DPR Hardin. University House Midtown, which is slated to open in August, is more than 50 percent pre-leased.

January 22, 2015

Texas-A&M-Francis-Hall-Satterfield-&-Pontikes

Office Texas

S&P Completes Renovation of Historic Building at Texas A&M

by Haisten Willis January 21, 2015

COLLEGE STATION, TEXAS — Satterfield & Pontikes Construction has completed a $7 million renovation of Texas A&M University’s Francis Hall. The building will house the school’s construction science department’s 900 students and 30 faculty members. Francis Hall was built in 1918 and spans 32,500 square feet. The renovated Francis Hall includes specialty labs, classrooms, a 120-room auditorium, exhibit hall, student lounge, conference room and administrative suites. Brown Reynolds Waterford Architects provided design services for the project.

January 21, 2015

New York Northeast

ARK Development Signs 30-Year Lease to Develop, Oversee The ARK at JFK

by Amy Works January 20, 2015

NEW YORK CITY — ARK Development, an affiliate of Racebrook Capital, has signed a 30-year lease with the Port Authority of New York and New Jersey to develop, finance, construct, operate and manage The ARK at JFK, an animal handling and intelligent air cargo facility. The $48 million, 178,000-square-foot facility will be a USDA-approved, full-service, 24-hour airport quarantine facility for the import and export of horses, pets, birds and livestock. The facility will be constructed at the current site of Cargo Building 78 at JFK with 14.4 acres of surrounding ground area, which includes direct airside access to the taxiway and large aircraft ramp parking. The ARK at JKF will be divided into three complementary sections: the air cargo wing, a central administrative and business center with 24-hour veterinary hospital, and the main handling facility with pet boarding, animal import and export center, and livestock export handling system. The project will create more than 180 jobs and generate revenues for the Port Authority of New York and New Jersey estimated at $108 million over the project’s 30-year lease. Financing for the project will be facilitated by Build NYC, the city’s conduit bond issuer, which will issue bonds underwritten by Goldman …

January 20, 2015

Hospitality North Carolina Southeast

Concord Hospitality, Kane Realty to Develop AC Hotel in Raleigh

by John Nelson January 20, 2015

RALEIGH, N.C. — Concord Hospitality Enterprises and Kane Realty Corp. plan to develop and operate North Carolina’s first AC Hotel, a Marriott brand. The new 133-room hotel, known as AC Hotel Raleigh, will be located in Raleigh’s North Hills neighborhood. This is Concord and Kane Realty’s third hotel venture in the North Hills district. The hotel is slated to open in 2016.

January 20, 2015

Georgia Healthcare Southeast

Johnson Development to Develop New VA Medical Facility in Savannah

by John Nelson January 16, 2015

SAVANNAH, GA. — Johnson Development has been awarded the lease to develop a new Veteran’s Affairs (VA) medical facility in Savannah. The new 69,000-square-foot healthcare clinic will replace the existing 25-year-old VA clinic. Johnson Development will be breaking ground on the new clinic in the spring. New outpatient services that will be provided in the new facility include eye care, audiology, physical rehabilitation, prosthetics and a special women’s center. The anticipated completion date is summer 2016.

January 16, 2015

Georgia Multifamily Southeast Student Housing

Landmark Breaks Ground on Urban Infill Student Housing Project in Athens

by John Nelson January 16, 2015

ATHENS, GA. — Landmark Properties has begun construction on The Mark, a 928-bed student housing project with 38,400 square feet of retail space and 41,000 square feet of Class A office space. Located adjacent to the campus of the University of Georgia at the intersection of Oconee and Broad streets in downtown Athens, The Mark will offer 14 different floor plans including studios, one-, two-, three-, four- and five-bedroom apartments. The Mark will provide students with an amenity package that includes a clubhouse, fitness facilities, a golf simulator, racquetball court, indoor basketball court, tanning beds, computer lab with private and group study rooms and an Internet café. A rooftop resident center will feature a large fitness center overlooking a two-tiered rooftop pool with cabanas, a Jumbotron, outdoor grilling areas and a stadium-view rooftop lounge. The top level will also feature a “VIP” floor with private rooftop patios and a select number of private hot tubs. A Landmark subsidiary, Landmark Construction, will serve as the project’s general contractor. Niles Bolton Associates is the architecture firm and Williams & Associates is the engineering firm.

January 16, 2015

Illinois Midwest Multifamily Student Housing

The Bainbridge Cos. to Develop Student Housing Project in Urbana, Ill.

by Danielle Everson January 15, 2015

URBANA, ILL. — The Bainbridge Cos. is developing Campus Circle Urbana, a 524-bed student housing community located directly across the street from the University of Illinois in Urbana. The property, located at 1008 W. University Ave., will include 181 rental apartments. Campus Circle Urbana will feature a design inspired by the retro “speakeasy” feel of Chicago’s popular restaurants and clubs. The project is scheduled to deliver starting in December.

January 15, 2015

Georgia Hospitality Southeast

Noble Investment Group, Simon Break Ground on AC Hotel Buckhead

by John Nelson January 15, 2015

ATLANTA — Noble Investment Group, in a joint venture with Simon Property Group, has broken ground on the AC Hotel Buckhead. The 166-room hotel will be located at the intersection of Peachtree and Wieuca roads in Atlanta’s Buckhead neighborhood across from the Nordstrom at Phipps Plaza. This will be AC Hotels by Marriott’s first hotel in the Atlanta area. Upon completion in early 2016, the hotel will feature an AC Lounge, 2,500 square feet of meeting space, the AC Library, a fitness center and an indoor pool.

January 15, 2015

Florida Retail Southeast

Branch Properties Breaks Ground on $40.8M Island Walk Project in Palm Coast

by John Nelson January 15, 2015

PALM COAST, FLA. — Atlanta-based Branch Properties LLC has begun construction on Phase I of Island Walk, a $40.8 million retail and restaurant redevelopment of the Palm Harbor shopping center in Palm Coast. Phase I includes the demolition of the buildings to the west of the existing Publix. The redevelopment will add 50,000 square feet of retail space to Palm Harbor. Phase I, which includes the majority of Island Walk’s small shop tenants, is expected to be complete in the spring. Phase II, which will include the redevelopment/expansion of the Publix and the addition of more small shop space, is slated to finish in the fall. Publix has signed a lease for the new 53,785-square-foot store, which is roughly 20 percent larger than the existing store. Phase III, which will include additional retail space to the east of the Publix, is slated to open in mid-2016. Palm Harbor’s tenant roster, including Publix, Starbucks Coffee, The UPS Store, Eyeglass Express, Coast Dental & Orthodontics and Salsa’s Mexican Restaurant, will remain open during the redevelopment. Branch Properties, along with Michael Collard Properties, purchased the 28.7-acre site for the future Island Walk in May 2014 from The Inland Real Estate Group.

January 15, 2015

Office Texas

Sentinel Capital, AEDC Break Ground on Office Park in Metro Dallas

by Haisten Willis January 14, 2015

ALLEN, TEXAS — Allen Economic Development Corp. and Sentinel Capital have broken ground on the first phase of AllenPlace. The 22.5-acre, 700,000-square-foot, five-building, Class A office park is located on the east side of North Central Expressway between Millennium Drive and Butler Drive in Allen. KONE, an elevator and escalator company, announced earlier this year it would be the lead tenant with more than 200 company employees in the $26-million first phase of AllenPlace. In addition to office space, KONE’s commitment includes light manufacturing and test facilities in the first phase of development. Jeff Patman, senior vice president of Site Selection Group, represented KONE in their site selection. Ben Appleby with Paladin Partners represented the landlord, Sentinel Capital, in the transaction. Paladin Partners will be responsible for the leasing at AllenPlace. Houston-based Sentinel Capital LLC is developing AllenPlace in partnership with Centra Partners LLC and Triad Real Estate.

January 14, 2015

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