WAKEFIELD, MASS. — A joint venture between locally based developer Cabot Cabot & Forbes (CC&F) and Equity Residential (NYSE: EQR) will develop 200 Quannapowitt, a 440-unit multifamily project in the northern Boston suburb of Wakefield. The property will offer one-, two- and three-bedroom units, 18 percent of which will be reserved as affordable housing. Amenities will include a pool, fitness center, clubhouse, outdoor grilling and dining stations, coworking space and nature trails. Brett Paulsrud, Andrew Gray and Mike Shepard of JLL structured the joint venture between the two firms.
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HAZLETON, PA. — Kansas City-based NorthPoint Development will build a 1 million-square-foot industrial project in Hazleton, located roughly midway between Allentown and Scranton in Luzerne County. The building will feature a clear height of 40 feet, 100 docks, four drive-in doors and parking for 839 cars and 360 trailers. The design team includes studioNorth Architecture and designBLD. Peak Construction Corp. is the general contractor. Completion is slated for the first quarter of 2025.
DENTON, TEXAS — Austin-based developer Urban Moment is nearing completion of YardHomes Parkside, a 230-unit apartment complex located in the North Texas city of Denton. YardHomes Parkside will offer one-, two- and three-bedroom floor plans that will range in size from 635 to 1,375 square feet. Residences will be furnished with stainless steel appliances, granite countertops and smart-home technology products. Amenities will include a pool, fitness center and outdoor grilling and dining stations. Full completion is slated for later his month.
WESLACO, TEXAS — Glazer’s Beer & Beverage has opened a 250,000-square-foot distribution center in the Rio Grande Valley city of Weslaco. The wholesale alcoholic beverage distributor is the anchor tenant of Mid Valley International Industrial Park, a 122-acre master-planned development by the Weslaco Economic Development Corp. The project is ultimately expected to add about 200 new jobs to the local economy at full operational capacity.
CREEDMOOR, TEXAS — San Francisco-based development and investment firm March Capital Management will develop 45 Logistics South, a five-building, 900,000-square-foot industrial project in Creedmoor, about 20 miles south of Austin. The site is located adjacent to I-45 and just east of I-35. Construction of the first phase of the project, which will consist of two buildings totaling approximately 400,000 square feet, is set to commence in the coming days. Deutsche Bank is financing the development.
LEWISVILLE, TEXAS — Locally based developer JPI has broken ground on Jefferson Castle Hills, a 761-unit multifamily project that will be located within the 2,900-acre Castle Hills master-planned development in the northern Dallas suburb of Lewisville. Bright Realty owns Castle Hills. Designed by Preston Partnership, Jefferson Castle Hills will be developed in two phases and will offer one-, two- and three-bedroom units. Residences will be equipped with stainless steel appliances, walk-in closets, individual washers and dryers and private yards or balconies. Amenities will include a pool, fitness center, dog park, private courtyards and dedicated parking garages. Construction of Phase I is slated for a fourth-quarter 2025 delivery.
WEBSTER, N.Y. — The Coca-Cola Co. (NYSE: KO) has broken ground on a $650 million production facility for its dairy brand Fairlife in the Central New York community of Webster, located just west of Rochester. About 250 people are expected to work at the 745,000-square-foot facility, which will source from local milk co-operatives to produce its line of dairy-based beverages before distributing them to retailers across the region. Completion is slated for the fourth quarter of 2025. Empire State Development provided $21 million in assistance for the project through the performance-based Excelsior Jobs Tax Credit Program in exchange for job creation commitments. The Atlanta-based soft drink giant acquired Fairlife in 2020.
BOSTON — Beacon Communities has completed the renovation of Lenox Apartments, a 285-unit affordable housing community in the South End/Lower Roxbury neighborhood of Boston. Lenox Apartments comprises 13 buildings and offers one-, two- and three-bedroom floor plans. According to Beacon Communities, the property was originally built in 1939 as the first public housing project in Boston dedicated to serving African Americans. The renovation was funded through a mix of state and federal housing and historic tax credits, as well as public and private loans.
AUSTIN, TEXAS — Cleveland-based multifamily developer The NRP Group has completed The Markson, a mixed-income housing project in the Barton Springs area of Austin. Named after former company executive Dan Markson, the $60 million property comprises 330 units, more than half of which will be reserved for renters earning 80 percent or less of the area median income. Amenities include a pool, dog park, conference rooms, coworking lounge, coffee bar, fitness center, game room, outdoor kitchen, volleyball and bocce ball courts and access to surrounding nature trails. The NRP Group developed The Markson in partnership with the Housing Authority of the City of Austin. Amegy Bank and J.P. Morgan Asset Management provided financing for the project. According to the property website, monthly rents at The Markson’s essential worker living units start at $1,442 while market-rate units start at $1,790.
DALLAS — Los Angeles-based Banyan Residential, in partnership with Bridge Investment Group, has completed Banyan Flats, a 289-unit multifamily project located at 2022 N. Beckley Ave., just west of downtown Dallas. Floor plans feature micro, studio, one-, two- and three-bedroom units ranging in size from 415 to 1,425 square feet. Roughly half the units are reserved for households earning 80 percent or less of the area median income. Amenities include a pool, fitness center, clubhouse, dog wash and a rooftop deck. JHP Architecture designed the project, and J.P. Morgan provided construction financing. Rents start at $1,345 per month for a studio apartment.
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