development2 Archives - REBusinessOnline

CC&F, Equity Residential to Develop 440-Unit Multifamily Project in Metro Boston

Taylor Williams — Tue, 07 May 2024 14:13:34 +0000

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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NorthPoint to Develop 1 MSF Industrial Project in Hazleton, Pennsylvania

Taylor Williams — Mon, 06 May 2024 15:08:42 +0000

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.

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Urban Moment Nears Completion of 230-Unit Apartment Complex in Denton, Texas

Taylor Williams — Wed, 01 May 2024 15:48:25 +0000

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.

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Glazer’s Beer & Beverage Opens 250,000 SF Distribution Center in Weslaco, Texas

Taylor Williams — Wed, 24 Apr 2024 14:08:34 +0000

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.

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March Capital Management to Develop 900,000 SF Industrial Project in Creedmoor, Texas

Taylor Williams — Tue, 23 Apr 2024 13:23:40 +0000

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.

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JPI Breaks Ground on 761-Unit Multifamily Project in Lewisville, Texas

Taylor Williams — Mon, 22 Apr 2024 15:57:54 +0000

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.

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Coca-Cola Breaks Ground on $650M Fairlife Dairy Production Facility in Webster, New York

Taylor Williams — Mon, 22 Apr 2024 15:13:29 +0000

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.

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Beacon Communities Completes Renovation of 285-Unit Affordable Housing Complex in Boston

Taylor Williams — Mon, 08 Apr 2024 14:03:59 +0000

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.

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NRP Group Completes 330-Unit Mixed-Income Housing Project in Austin

Taylor Williams — Fri, 05 Apr 2024 14:40:56 +0000

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.

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Banyan Residential, Bridge Complete 289-Unit Mixed-Income Apartment Complex Near Downtown Dallas

Taylor Williams — Thu, 04 Apr 2024 13:55:00 +0000

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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WinStanley, NorthPoint to Develop 524,000 SF Industrial Project in Westfield, Massachusetts

Taylor Williams — Wed, 03 Apr 2024 13:02:00 +0000

WESTFIELD, MASS. — A partnership between two developers, Massachusetts-based WinStanley Enterprises and Kansas City-based NorthPoint Development, will build a 524,000-square-foot industrial project in Westfield, located outside of Springfield in the western part of Massachusetts. The 126-acre site of the project, which will be known as Falcon Landing, is adjacent to Westfield-Barnes Regional Airport and can support parking for 362 cars and 322 trailers. Infrastructural improvements to the site are underway, and a precise construction timeline is still being finalized.

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High Street Residential Breaks Ground on 181-Unit Multifamily Project in Metro Houston

Taylor Williams — Tue, 02 Apr 2024 13:45:41 +0000

KINGWOOD, TEXAS — High Street Residential has broken ground on Reserve at West Lake, a 181-unit multifamily project located on the northern outskirts of Houston in Kingwood. High Street Residential is developing the project, which consists of 109 townhomes and 72 apartments and is the second phase of a larger development, in partnership with Japanese homebuilder Daiwa House Group. Residences will come in one-, two- and three-bedroom formats. Apartments will have an average size of 1,046 square feet, and townhomes will have an average size of 1,530 square feet. Amenities will include a pool, grilling areas, fitness center, resident lounge and an entertainment kitchen. W Partnership is the project architect, and Arch-Con Corp. is the general contractor. Delivery is slated for next summer.

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Milhaus, BAM Capital to Develop 272-Unit Multifamily Project Near Pittsburgh

Taylor Williams — Fri, 22 Mar 2024 14:10:28 +0000

ROBINSON TOWNSHIP, PA. — A partnership between two Indiana-based firms, developer Milhaus and investment firm BAM Capital, will develop a 272-unit multifamily project just west of Pittsburgh in Robinson Township. Known as Nox Living, the property will feature studio, one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, coworking space, resident lounge and outdoor grilling and dining stations. The development team expects to begin construction by July and is aiming to deliver the first units by late 2025.

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Syracuse University to Develop Two New Residence Halls

Taylor Williams — Mon, 18 Mar 2024 14:20:34 +0000

SYRACUSE, N.Y. — Syracuse University will develop two new residence halls. The first community will be developed at 700 Ostrom Ave. and will offer 450 beds upon completion. An undisclosed architect has been selected for the project, with construction expected to begin this year. The university concurrently announced plans to demolish Marion Hall, Kimmel Hall and an existing dining center on the corner of Comstock and Waverly avenues to make way for a new residence hall. A timeline for the development was not disclosed.

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Partnership Delivers 168,000 SF Life Sciences, Manufacturing Project in Bedford, Massachusetts

Taylor Williams — Wed, 13 Mar 2024 13:53:04 +0000

BEDFORD, MASS. — A partnership between Redgate, Optimum Asset Management and AEW Capital Management has delivered Riverwalk Labs, a 168,000-square-foot life sciences and manufacturing project in Bedford, about 20 miles northwest of Boston. The developers converted a former office building into a facility with 20,000-square-foot lab and office suites, as well as four separate tenant lobbies and multiple loading docks. Ci Design served as the project architect, and J. Calnan & Associates served as the general contractor.

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Provident Realty Advisors Delivers 308,270 SF Industrial Project in El Paso

Taylor Williams — Mon, 26 Feb 2024 15:13:19 +0000

EL PASO, TEXAS — Dallas-based developer Provident Realty Advisors has delivered Gateway Logistics Park, a 308,270-square-foot industrial project in El Paso. The site is located 13.5 miles from El Paso International Airport and 7.5 miles from the Ysleta-Zaragoza port of entry. Building features include 32-foot clear heights, 190-foot truck court depths, 67 dock-high doors, two drive-in ramps, 93 trailer parking spaces and 2,500 square feet of office space. CBRE is the leasing agent for Gateway Logistics Park.

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Sansone Group, Raith to Develop 3.7 MSF Industrial Project in El Paso

Taylor Williams — Fri, 23 Feb 2024 15:53:38 +0000

EL PASO, TEXAS — St. Louis-based Sansone Group and its equity partner Raith Capital Partners will develop Rancho del Rey Logistics Park, an industrial development in El Paso that will ultimately comprise more than 3.7 million square feet. The 235-acre site at the junction of at I-10 and Loop 375 features proximity to the Ysleta-Zaragoza port of entry. Rancho del Rey Logistics Park will be developed in three phases via a ground lease with an undisclosed local family that has owned the land for multiple generations. A groundbreaking ceremony for Phase I, which will encompass three buildings totaling roughly 1.4 million square feet, will take place in mid-March. The first of those three buildings, a 413,035-square-foot structure, is slated for a fourth-quarter delivery and is fully preleased to Fortune 100 company Bosch. Bob Feinberg and Tom Jones of Colliers represented the landowner and developers in structuring the ground lease and in negotiating the lease for Building 1. Brett Preston and David Hingst of Cushman & Wakefield represented Bosch.

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Reports: Chick-fil-A Opens $100M Distribution Center in Hutchins, Texas

Taylor Williams — Thu, 22 Feb 2024 15:58:59 +0000

HUTCHINS, TEXAS — Atlanta-based fast food restaurant Chick-fil-A has opened a $100 million distribution center in Hutchins, a southern suburb of Dallas, according to reports from multiple news outlets including Fox 4 KDFW and The Dallas Express. Both publications report that the facility will span approximately 290,000 square feet, employ more than 200 people and serve more than 200 restaurants in the region. Chick-fil-A, which opened its 3,000th restaurant a couple months ago in Dallas, now operates seven distribution centers throughout the country.

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Reports: SpaceX to Open $100M Office, Industrial Facility in Brownsville, Texas

Taylor Williams — Wed, 21 Feb 2024 15:57:15 +0000

BROWNSVILLE, TEXAS — SpaceX, the rocket and spacecraft production company owned by Elon Musk, will open a new office and industrial complex in the South Texas city of Brownsville, according to reports from multiple news outlets including Dallas Morning News and San Antonio Express-News. The former publication, citing a filing with the Texas Department of Licensing & Regulation, reports that the “Starbase Office” project carries a price tag of about $100 million and will be developed as an expansion of an existing industrial facility, with construction starting later this month. The latter reports that the facility will rise five stories and span approximately 330,000 square feet, with construction expected to last about a year.

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Report: Z Modular Nears Completion of $62M Multifamily Project in San Marcos, Texas

Taylor Williams — Mon, 19 Feb 2024 15:05:00 +0000

SAN MARCOS, TEXAS — Z Modular, a subsidiary of steel manufacturer Zekelman Industries, is nearing completion of Flatz 512, a $62 million multifamily project in the Central Texas city of San Marcos, according to a report from Community Impact Newspaper. When complete later this year, Flatz 512 will offer studio, one-, two- and three-bedroom units. Amenities will include a pool, fitness center, pickleball court, coffee bar, spa, sports simulator lounge, outdoor grilling stations and walking trails. Construction began in 2020, and South Carolina-based Greystar is managing the property, according to the local news outlet.

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