development1

Wood Partners Breaks Ground on $100M Mixed-Use Development in Midtown Atlanta

by John Nelson October 21, 2014

ATLANTA — Wood Partners has begun construction on 33 Peachtree Place, a $100 million mixed-use development on West Peachtree Street in Midtown Atlanta. The project will include a 21-story high-rise and mid-rise apartment building totaling 369 residential units (including five penthouse suites) and 20,000 square feet of ground-level retail space. The project will be Atlanta’s first multifamily property to utilize natural gas for heating, cooling, water and cooking. The property’s amenity offerings include a dog-friendly resident park, resort-style pool deck, club rooms, half-acre private park and courtyard space and more than 500 parking spaces. Prudential Real Estate Investors (PREI) was the seller of the site, a former parking lot for the 10 Peachtree Place building. PREI is also Wood Partners’ equity partner for 33 Peachtree Place. The general contractor, Balfour Beatty, expects to complete the project by the third quarter of 2016.

October 21, 2014

Loans Multifamily New York Northeast

Emerald Creek Capital Lends $23M for Acquisition of Manhattan Development Site

by Amy Works October 21, 2014

NEW YORK CITY — Emerald Creek Capital has provided a $23 million acquisition loan for the purchase of a development site in Manhattan’s Lower East Side. Located at 50 Clinton St., the development site is zoned R7A and has approved plans for a seven-story condominium building offering 37 residential units and grade-level retail. The borrower is DHA Capital, a New York City-based development firm.

October 21, 2014

Massachusetts Multifamily Northeast

Criterion Selects WinnCompanies to Manage 164-Unit Lumiere in Medford

by Amy Works October 20, 2014

MEDFORD, MASS. — Criterion Development Partners has selected WinnResidential, the property management arm of WinnCompanies, to manage its newest apartment community in Medford. Located on Mystic Valley Parkway, Lumiere consists of 164 residential units with a mix of studio, one- and two-bedroom units. Each apartment features hardwood floors, stone counter tops, expansive tall windows and private patios or balconies. On-site amenities include a swimming pool with sun deck, green deck with community garden, a game area, fitness center and a WiFi lounge with seating for private parties and individual use. The first phase, which is currently open for occupancy, features 48 apartments and the sun deck. The second phase will open in January and the final phase will open in February. WinnResidential manages nearly 500 communities across 23 states nationwide with more than 200 located in Massachusetts.

October 20, 2014

Mixed-Use Multifamily New Jersey Northeast Office Retail

LCOR Tops Out Phase I of New Jersey Mixed-Use Project

by Amy Works October 17, 2014

MONTCLAIR, N.J. — LCOR, along with co-developer The Pinnacle Cos., has topped out Phase I of Valley & Bloom, a mixed-use project in Montclair’s central business district. Located at 638 Bloomfield Ave., Valley & Bloom will be comprised of two buildings that will include a total of 258 residential apartments, ranging from studio to two-bedroom units; 20,000 square feet of office space; 22,000 square feet of retail space; and 571 parking spaces. Phase I is on track to be completed by the end of May 2015, with the second building following shortly after. Valley & Bloom is the first phase of the Montclair Center Gateway Redevelopment Plan. The Pinnacle Cos. recently received approval for Phase II, which will include The MC Hotel, part of Marriott International’s Autograph Collection. The MC Hotel is slated to begin construction in 2015.

October 17, 2014

Hospitality Mixed-Use Texas

Construction Begins on Hotel at Hughes Landing in The Woodlands

by Haisten Willis October 16, 2014

THE WOODLANDS, TEXAS — The Howard Hughes Corp. and The Woodlands Development Co. have begun construction on a 205-room, nine-story Embassy Suites Hotel at Hughes Landing, a 66-acre mixed-use development in The Woodlands. Hughes Landing is located on Lake Woodlands, 30 miles north of Houston. The project offers retailers, dining, entertainment, apartments and Class A office space. The 172,000-square-foot hotel is scheduled for completion in late 2015. Amenities will include 3,000 square feet of meeting and event space, a business center, bar, restaurant and a 4,000-square-foot rooftop pool deck overlooking Lake Woodlands.

October 16, 2014

Multifamily New York Northeast

The Daten Group, Lighthouse Enterprises Open Three Residential Buildings in White Plains

by Amy Works October 16, 2014

WHITE PLAINS, N.Y. — The Daten Group, along with its co-developer Lighthouse Enterprises, is opening three residential buildings in White Plains. The properties will bring more than 100 new apartment units to the city. The properties include the 56-unit La Gianna at 10 DeKalb Avenue, the 24-unit The Dylan at 42 Waller Avenue and the 23-unit The Reed at 115 N. Broadway. On-site amenities include doormen, fitness centers, media rooms, children’s playrooms, playgrounds, barbecue areas and covered parking. The units feature modern, upscale, open layouts with hardwood floors, master bathrooms with double sink vanities, full-size vented washers and dryers, custom Italian kitchens with modern stainless steel appliances, ceasarstone countertops, large bedrooms and closet space. Residents starting moving into La Gianna in October and The Dylan and The Reed will be available for occupancy in December. Rental fees start at $2,050 for studios, $2,300 for one bedrooms and $2,775 for two bedrooms.

October 16, 2014

Multifamily North Carolina Southeast

$54M Adaptive Reuse Apartment Community Opens in Winston-Salem

by John Nelson October 16, 2014

WINSTON-SALEM, N.C. — Co-developers Pennrose Properties LLC and C.A. Harrison Cos. LLC have opened Plant 64 Apartment Homes, a $54 million adaptive reuse project in downtown Winston-Salem. Originally built in 1916 as one of the oldest R.J. Reynolds tobacco buildings, the 423,000-square-foot project has been renovated to feature 242 one-, two- and three-bedroom apartments. Plant 64’s amenity package includes controlled access entry, a roof terrace with grills, outdoor theater, fitness center, swimming pool and a sports court. Bonaventure Property Management is managing Plant 64. Financing was provided by Bank of America N.A., Nationwide Insurance and Stonehenge Capital.

October 16, 2014

Florida Multifamily Southeast

ZOM, AIG Global to Build Lakefront Multifamily Community in Orlando

by John Nelson October 16, 2014

ORLANDO, FLA. — ZOM and its joint venture partner AIG Global Real Estate have completed the land purchase for the site of a new luxury lakefront multifamily community. The 483-unit property, known as Baldwin Harbor, will be located in the master-planned Baldwin Park community in Orlando. Baldwin Harbor’s amenity offerings will include a clubhouse with a resident’s lounge, an entertainment kitchen, pool with cabanas, summer kitchen and a golf simulator. J.P. Morgan Chase Bank provided construction financing for the project, and ZRS Management LLC will provide property management services upon completion. Pre-leasing for Baldwin Harbor will begin in the fall of 2015. CBRE’s Orlando office represented the seller in the land transaction.

October 16, 2014

Civic Midwest Missouri Uncategorized

HOK Designs New $17 Million Patient Care Center at University of Missouri-St. Louis

by Danielle Everson October 15, 2014

ST. LOUIS — HOK has designed a new $17 million patient care center for The University of Missouri-St. Louis (UMSL) Colleges of Optometry and Nursing. The 48,000-square-foot facility will expand the eye-care services offered through the existing University Eye Center. The facility will also incorporate the latest technology needed to advance eye and vision research. Scheduled to open in 2016, the center will include space for campus and community partners to offer complementary healthcare services, such as dental and primary care. UMSL has the only optometry program in Missouri and one of just 21 nationwide. Funding for the new center came in part from a supplemental fee that will be assessed to optometry students. It is also funded by internal reallocations within the college and campus reserves. The improvements to the College of Optometry are the first phase of planned capital improvements for the UMSL campus.

October 15, 2014

Mixed-Use Restaurant Retail Texas

Trademark Acquires Land for Waterside Development in Fort Worth

by Haisten Willis October 15, 2014

FORT WORTH — Trademark Property Co., in partnership with Sarofim Realty Advisors, has acquired 63 acres of infill land located on the Trinity River at Bryant Irvin Road and Arborlawn Drive in Fort Worth. The property will become Waterside, a new mixed-use development. Phase I of construction at Waterside begins Oct. 20 and will include anchor tenant Whole Foods Market, along with retail, restaurants and 375 multifamily rental homes built by Transwestern Development Co. When completed, Waterside will include 200,000 square feet of retail space and restaurants, 20 acres of residential properties, 200,000 square feet of office space and a hotel. Phase I is scheduled to open in the spring of 2016.

October 15, 2014

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