development2

Premier Design + Build Constructing Three Industrial Facilities in Southern California for Black Creek Group

by Amy Works February 15, 2021

RIVERSIDE COUNTY, SAN BERNARDINO COUNTY AND TORRANCE, CALIF. — Premier Design + Build, as contractor, is constructing three industrial facilities in Southern California for Black Creek Group, a Denver-based real estate investment management firm. Totaling nearly 696,000 square feet, the projects include Perris DC III in Riverside County, Fontana Logistics Center in San Bernardino County and Gateway Logistics Center in Torrance. Situated on 24.5 acres, Perris DC III will feature a 251,000-square-foot facility with 32-foot clear heights, 37 truck dock positions, a drive-in door and 216 excess trailer stalls. Perris DC III is slated for completion in first-quarter 2021. Located on a vacant 8.9-acre site, Fontana Logistics Center will feature a 193,000-square-foot industrial warehouse offering 36-foot clear heights, 27 truck dock positions, two drive-in doors and office space. Completion is scheduled for first-quarter 2021. Slated for completion in fourth-quarter 2021, Gateway Logistics Center will feature a 252,000-square-foot building with 36-foot clear heights, 42 truck doors, two drive-in doors and 67 trailer parking stalls.

February 15, 2021

Development Multifamily Seniors Housing Texas

Civitas, Journey Capital Break Ground on 121-Unit Seniors Housing Project in Aledo, Texas

by Taylor Williams February 12, 2021

ALEDO, TEXAS — Civitas Senior Living and Journey Capital, a senior housing development company, have broken ground on Harvest of Aledo Senior Living, a 121-unit project located approximately 20 miles west of Fort Worth in Aledo. The 68,000-square-foot property will consist of 20 independent living residences, 67 assisted living units and 24 memory care units. Other project partners include Arrive Architects, Ridgemont Construction and Senior By Design. Completion is scheduled for fall 2022.

February 12, 2021

Development Massachusetts Multifamily Northeast

Related Beal Nears Completion of 172-Unit Apartment Complex in Boston’s South End

by Taylor Williams February 11, 2021

BOSTON — Locally based developer Related Beal is nearing completion of The Harris, a 172-unit apartment complex that will be located at the site of the former Quinzani Bakery in Boston’s South End neighborhood. Residences will come in studio, one-, two- and three-bedroom floor plans and will be furnished with custom oak cabinetry, quartz countertops and tile backsplashes. Amenities will include an 8,000-square-foot fitness center with yoga and spin studios, as well as basketball and squash courts. In addition, residents will have access to a billiards lounge with reservable dining spaces and a 5,700-square-foot terrace with grills, fire pits, lounge furniture and TVs. Construction of The Harris began in 2019 and is expected to be complete in late spring.

February 11, 2021

Affordable Housing Development Georgia Multifamily Southeast

City of Refuge, Pencor Construction to Build 31-Unit Affordable Housing Project in Atlanta

by John Nelson February 10, 2021

ATLANTA — City of Refuge, an Atlanta-based nonprofit, will partner with Pencor Construction for a 31-unit affordable housing project in Atlanta’s Westside known as The 345. Pencor will be the general contractor for the project. North American Properties (NAP), a mixed-used developer based in Cincinnati, will be the project manager. The 345 formerly was formerly a motel known as The Danzig Motel, which was one of the only African-American-owned motels in Atlanta. The motel had been abandoned for over 20 years, until City of Refuge bought it in 2017. City of Refuge is currently in the permitting process with the City of Atlanta. This spring, the nonprofit plans to break ground on the $2 million renovation. The 345 will be a community to primarily serve African-American men from the Atlanta Westside. City of Refuge wants to focus primarily on Westside neighborhood residents, especially those from the Westlake and Bankhead areas who are defined as low-income individuals by the Department of Housing and Urban Development (HUD). The three-floor housing community will be separated by groups. Floor one will be dedicated to veterans and citizens returning from incarceration; floor two will house men overcoming addiction and those with manageable mental health challenges; …

February 10, 2021

Development Mixed-Use Multifamily Restaurant Retail Southeast Tennessee

Private Developer Nearing Completion of Mixed-Use Condo Project in Downtown Nashville

by John Nelson February 10, 2021

NASHVILLE, TENN. — Jim Jacobs, a private developer based in Nashville, is nearing completion of Muse, a short-term rental condominium building in downtown Nashville. Jacobs created Muse Nashville LLC to purchase the site of the building in 2019, according to the Nashville Post. The company also secured a $15.5 million to finance the project. In addition to 55 condos, of which three quarters are presold, Muse will offer a lobby designed by ES|DG, cardio fitness center, a luggage drop, onsite management, security and more than 5,000 square feet of Class A retail and restaurant space. The property will also have a SkyLounge with indoor and outdoor panoramic views of Nashville’s skyline. The apartment building is the only new construction condominium in downtown Nashville that allows short-term rental options, according to Jacobs. Construction began in spring 2020 and will wrap up by October of this year. The Muse is located at 65 Lindsley Ave. Muse’s project team comprises locally based firms including Centric Architecture, Catalyst Design Group and Cherry & Associates, a commercial estate services company where Jacobs serves as a principal.

February 10, 2021

Development Multifamily Texas

Allied Orion Breaks Ground on 324-Unit Granary Flats Apartments in Metro Houston

by Taylor Williams February 9, 2021

RICHMOND, TEXAS — Locally based developer Allied Orion Group has broken ground on Granary Flats, a 324-unit apartment community that will be located in the southwestern Houston suburb of Richmond. Designed by Sage Group, the property will be situated within Johnson Development’s 1,300-acre Harvest Green master-planned community and will feature one-, two- and three-bedroom floor plans. Units will be furnished with stainless steel appliances, granite countertops and wood-style flooring. Amenities will include a pool, fitness center, media room and a resident lounge with coworking spaces. Allied Orion expects to open the community in the fourth quarter.

February 9, 2021

Development Multifamily Northeast Pennsylvania

KRE, Silverman Group to Develop 273-Unit Multifamily Project in Lehigh Valley

by Taylor Williams February 9, 2021

UPPER MACUNGIE, PA. — A partnership between two New Jersey-based firms, KRE Group and Silverman Group, will develop Lehigh Hills, a 273-unit multifamily project that will be located outside of Allentown in the Lehigh Valley community of Upper Macungie. The community will feature a mix of one- and two-bedroom units that will be housed in seven mid-rise buildings. Amenities will include a fitness center with a yoga room, gaming room, conference room, a pool, dog park and a children’s play area. Valley National Bank provided a $44.4 million construction loan for the project, which is expected to be complete in 2022.

February 9, 2021

Development Loans Multifamily Washington Western

Parkview Financial Provides $27.5M Construction Loan for Kestrel Park Apartments in Vancouver, Washington

by Amy Works February 9, 2021

VANCOUVER, WASH. — Parkview Financial has provided a $27.5 million construction loan to Hurley Development for Kestrel Park Apartments, a multifamily property located in Vancouver, 10 miles from Portland, Ore. Situated on 5.5 acres at 15306 NE Fourth Plain Road, Kestrel Park will feature 178 apartments spread across six three-story buildings. The community will offer 54 one-bedroom units, 108 two-bedroom units and 16 three-bedroom units, with an average size of 883 square feet. Construction is underway, with completion slated for March 2022. The apartment community is part of a multi-phase development, with Phases I through IV including residential lots that have been pre-sold to a national home builder. Kestrel Park Apartments is part of Phase V with future phases to include a retail and office center.

February 9, 2021

Development Multifamily North Carolina Southeast

Elevation, Great Lakes Capital to Build 204-Unit Granger Village Multifamily Community in Mooresville, North Carolina

by John Nelson February 8, 2021

MOORESVILLE, N.C. — Elevation Real Estate Group has partnered with Great Lakes Capital to build a 204-unit multifamily complex known as Granger Village in Mooresville. The property is located on 18.6 acres at the southeast corner of Charlotte Highway and East Waterlynn Road. Granger Village will be located near Exit 33 of Interstate 77 by Lake Norman and is approximately 30 miles from Charlotte. The property will feature multifamily units, as well as two commercial parcels that may include 15,500 square feet of retail, restaurant and medical office space. Granger Village is situated less than one mile from the Lake Norman Regional Medical Center and Lowe’s Home Improvement’s corporate headquarters. Raleigh-based Finley Design is the architectural firm on the project. Elevation and Great Lakes Capital plan to start construction this year and open the property in 2022. Leasing is planned to begin later this year. Elevation Real Estate Group is a Charlotte-based real estate company. Great Lakes Capital is a real estate development and private equity firm based in South Bend, Ind.

February 8, 2021

Affordable Housing Development Illinois Midwest Multifamily

Evergreen Real Estate, Structured Development Begin Development of $25M Mixed-Income Community in Chicago

by Kristin Harlow February 5, 2021

CHICAGO — Evergreen Real Estate Group and Structured Development have begun development of Schiller Place Apartments on Chicago’s Near North Side. The mixed-income housing community, located on West Schiller Street, will span three buildings with 48 units. The project is being built on land formerly occupied by the Isham YMCA. Schiller Place will feature eight market-rate units. The remaining 40 units will be set aside for households earning between 30 and 60 percent of the area median income (AMI). The development team secured project-based vouchers for 24 units through the Chicago Housing Authority. Additionally, five units will be set aside for veterans and an additional five units reserved for individuals sourced through the Statewide Referral Network, which works with households earning at or below 30 percent of AMI with a head of household who has a disability or illness. Completion is slated for early 2022. GMA Construction is the general contractor and Bailey Edward is the architecture firm. Funding for the project came from the Illinois Housing Development Authority, Hudson Housing Capital, CIBC Bank, IFF and Clocktower Tax Credits. Housing and Human Development Corp. will provide onsite social services to residents.

February 5, 2021

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