YORK, PA. — Larken Associates is underway on construction of The Enclave at Copper Chase, a 107-unit multifamily project in York, a city located approximately 25 miles south of Harrisburg. Located at 3145 Honey Run Drive, the project is an addition to Larken’s existing 132-unit The Reserve at Copper Chase community. The Enclave will include one-, two- and three-bedroom floor plans, a clubhouse and fitness center. The project also includes renovations to the pool and lounge, as well as upgrades to the property’s roofing and exteriors. Larken acquired the property in 2019. The construction schedule was undisclosed.
FRISCO, TEXAS — Locally based developer Presidium has completed Phase I of Presidium at Edgestone, a multifamily project in the northern Dallas suburb of Frisco that will ultimately total 188 units. Designed by Cross Architects, Presidium at Edgestone will eventually offer amenities such as a pool, fitness center, media and game room, hair salon, cinema, bocce ball court and a dog park. Presidium expects to open the community this summer.
NEWTON, ILL. — St. Joseph Renewable Fuels LLC has unveiled plans to build a $400 million renewable diesel plant in Newton, located within Jasper County in southern Illinois. The 40-acre site is within a federally designated opportunity zone. The proposed plant will bring new sources of renewable fuels to metropolitan, rural and underserved communities. It will consume waste fats and greases from a region spanning 1,000 miles around Newton that would otherwise be landfilled or emptied into sewer drains. The plant will convert the waste into 90 million gallons of diesel and naphtha fuel annually as well as 7 million gallons of technical grade glycerin. Project financing comes from New York-based specialty finance firm Lance Capital and its New Zealand joint venture partner, Lance-Kamaka Capital Ltd. Plans call for the use of a new app called HealthCheckIn that will test the workforce for COVID-19. Other partners include Cyberus Labs and a joint venture between McDermott and Chevron Oil, which will be involved in the core technology of the renewable fuels produced. The project will create 100 permanent jobs in the Newton community, 200 construction jobs for the duration of the two-year project and 300 trucking jobs throughout the state of …
GLENDALE, ARIZ. — P.B. Bell has opened the first phase of Copper Falls, an apartment property located at 5151 N. 95th Ave. in Glendale. The $45 million community is the first of the company’s multiple projects in the Glendale area. Copper Falls features 240 apartments in a mix of one-, two- and three-bedroom floor plans ranging from 726 square feet to 1,315 square feet. The open-concept apartments feature smart light switches, smart thermostats, modern kitchen layouts with granite countertops, subway tile backsplashes, stainless steel energy-efficient appliances and kitchen islands. Additionally, the units offer wood-style flooring, nine-foot ceilings, a full-size washer and dryer, and a personal patio or balcony. The first phase includes a variety of floor plans and community amenities, including a resident clubhouse designed for entertaining, a theater room with complimentary movie rentals, a 24-hour fitness center with a group exercise studio, and a swimming pool and spa. The community also features a package locker systems, valet trash, electric vehicle charging stations, a playground, dog park and pet spa.
TYLER, TEXAS — Alabama-based Johnson Development will build a VA Outpatient Clinic in Tyler, a city located about 100 miles east of Dallas. BL Harbert is the general contractor for the project, which is expected to carry a construction timeline of 16 to 22 months. Gabriel Silverstein and Louis D’Lando of SVN | Angelic structured and placed construction financing for the project, which will be developed as part of a quintet of VA Outpatient Clinics in Texas, Florida, Michigan and Missouri that will collectively span more than 303,000 square feet.
FORT WASHINGTON, PENN. — Equus Capital Partners will develop a 300-unit multifamily project in Fort Washington, a northern suburb of Philadelphia. The developer has acquired a 60,000-square-foot office building located at 1125 Virginia Drive for $5.9 million and plans to demolish it to construct the apartment building in its place. The first phase of construction will include 200 residential units in a five-story building that will incorporate amenities such as a pool and a fitness center, as well as both indoor and outdoor resident lounge areas. Barton Partners designed the project. No plans for the construction schedule have been announced.
MESA, ARIZ. — California-based Pride Ventures LLC II has purchased an approximately four-acre site, located at 1830 W. Main St. in Mesa. Sycamore Station Fund LLC sold the asset for $3.8 million. The property is Parcel 1 of Sycamore Station, a transit-oriented, mixed-use project currently underway. Pride Ventures plans to develop a 200-unit multifamily community at the site, which offers convenient access to the light rail train line on Main Street. Kimberly Rollins and Dallan Randall of the Commercial Properties / CORFAC International Multifamily team, along with Jeff Hays of the corporate services team and Tate Gunning of Commercial Properties Inc., represented the buyer. Lee & Associates represented the seller in the deal.
LAS VEGAS — LM Construction and Brass Cap Development have completed SanTico, an industrial property located at 6425 Santa Margarita St. in Southwest Las Vegas. Situated on 2.5 acres, the facility features 40,000 square feet of industrial mid-bay space that can be divisible into two 20,000-square-foot spaces. LM Construction provided design, planning and construction for the project. Michael DeLew and Greg Pancirov of Realcomm Advisors are handling the leasing and sale of SanTico.
VANCOUVER, WASH. — McBride Capital has arranged a $7 million acquisition and predevelopment loan for a proposed retail center in Vancouver’s Salmon Creek neighborhood. The non-recourse debt facility features a 12-month initial term with extension options, limited prepayment penalty and proceeds to cover predevelopment costs. Danny Natsch of McBride Capital placed the financing on behalf of an undisclosed borrower with a national bridge lender. The name of the grocery-anchored retail property and lender were not released.
SACRAMENTO — Hunt Capital Partners has closed $3.5 million in Low-Income Housing Tax Credit (LIHTC) equity financing for the acquisition and rehabilitation of Pacific Rim Apartments, an affordable housing property in Sacramento. The borrower, Alliance Property Group, plans to upgrade the garden-style complex, which was originally built in 2004. Slated for completion in July 2021, the renovated community will offer 31 three-bedroom units and an additional three-bedroom unit for management. The development team includes Day Builders, Musser: Architects and FPI Management. Planned site and exterior improvements include pavement, fencing and landscaping repair; installation of additional barbecue and playground areas; a new roofing overlay; and construction of a new management office/community room with a laundry facility. Individual units will be outfitted with new kitchen appliances, flooring, various automatic sensors and fresh paint. Once completed, Pacific Rim Apartments units will be leased to family households earning up to 50 percent and 60 percent of the area median income. Additionally, All Things Are Possible, a nonprofit organization, will provide a variety of residential services, including food distribution, parenting and mentor workshops, English-as-a-second-language classes, veteran services, toddler support, employment search and resume assistance. The total development cost for the Pacific Rim Apartments renovations is …