development2

DMG Tops Out 14-Story Multifamily Project in Cliffside Park, New Jersey

by Amy Works September 5, 2017

CLIFFSIDE PARK, N.J. — DMG Investments has topped out One Park, a 14-story multifamily project in Cliffside Park. Slated for completion in fall 2018, the development will feature 204 one-, two-, three- and four-bedroom condominiums, starting at $495,000. Designed by Architectura, with interior spaces by VLDG Inc., the residences feature kitchens with chef-caliber appliances, floor-to-ceiling windows, freestanding sculpted tubs and open showers. Additionally, the property will feature 25,000 square feet of indoor and outdoor amenity space, including a 24-hour attended front desk; aquatic center with indoor heated pool; adjoining outdoor sun deck, sauna and steam rooms; furnished roof deck with grilling stations, fire pits, intimate seating areas and an outdoor movie theater; fitness center with Pilates room, squash court, golf simulator, children’s playroom, pet spa and guest suites; and a secure parking garage.

September 5, 2017

Colorado Hospitality Western

MBC Partners, Corient Venture Partners Open WaterWalk Hotel in Centennial

by Nellie Day September 5, 2017

CENTNENIAL, COLO. — A joint venture between MBC Partners and Rob Mossburg, Bill Booth and Chris Copps of Corient Venture Partners has opened the 146-room WaterWalk hotel in Centennial. The 123,378-square-foot asset is located at 11400 E. Peakview Ave. The property is a hybrid hotel and apartment concept. It was originally planned as a corporate site but is now the company’s first franchise location to open. WaterWalk combines the space and comfort of apartment living with the services of an upscale hotel. Business travelers can stay for a few nights or several months during relocations, training or projects. Rooms feature fully equipped modern kitchens, full-size in-room washers and dryers, housekeeping and customized breakfast options. Other amenities include an on-site fitness center, 300 DirecTV channels, internet and 24/7 front desk service. WaterWalk was created by entrepreneur Jack DeBoer, founder of Residence Inn (now Marriott), Candlewood Suites, Value Place/WoodSpring Suites and Summerfield Suites (now Hyatt House). This is the second WaterWalk property. The first opened in Wichita, Kan., in November 2014.

September 5, 2017

Multifamily New York Northeast

Jefferson Avenue Apartments Underway in Buffalo, New York

by Jaime Lackey September 1, 2017

BUFFALO, N.Y. — Sinatra & Company Real Estate and People Inc. have broken ground on Jefferson Avenue Apartments, a $24 million, two-building project in Buffalo’s Masten District. The project will include 84 mixed-income units, with 16 units to be reserved for people who have developmental disabilities but live independently. The apartment buildings will feature one- and two-bedroom units, a community room with a small kitchen, on-site laundry facilities, green space and off-street parking. The project will also include a 23,000-square-foot space that will house a recruitment and program services office for People Inc. Development team partners include Creative Structures Services, Bellamy Enterprises and Long Associates Architects. Financing for the project is expected to come from the City of Buffalo, Empire State Development, NYS Housing Finance Agency, NYS Housing and Community Renewal and the NYS Office for Persons with Developmental Disabilities, as well as federal and state low-income housing tax credits.

September 1, 2017

Multifamily New York Northeast Student Housing

DMG Investments Breaks Ground on 322-Bed Community Near the State University of New York at Albany

by Jaime Lackey September 1, 2017

Albany, N.Y. — DMG Investments has broken ground on a 322-bed student housing community located near the State University of New York at Albany campus in Albany. The $30.5 million community will be located at the former Red Carpet Inn site at 1385 Washington Ave. The four-story, 142,000-square-foot property will offer one-, two-, three- and four-bedroom, fully furnished units with bed-to-bath parity. Shared amenities will include partially underground parking, in-unit washers and dryers, a fitness center, study room, resident’s lounge, gaming room, on-site tanning and courtyards. A timeline for the project has yet to be announced.

September 1, 2017

Office Texas

Northwood Investors to Develop 340,000 SF Office Tower in Dallas

by Taylor Williams September 1, 2017

DALLAS — Northwood Investors will develop a 340,000-square-foot office tower within The Shops at Park Lane, a 550,000-square-foot mixed-use development in Dallas. Gensler designed the 11-story, Class A building, which has yet to be branded. Cushman & Wakefield will handle leasing of the property. A timetable for construction has not yet been established.

September 1, 2017

Colorado Industrial Western

Majestic Realty Breaks Ground on Spec Warehouse, Distribution Facility in Aurora

by Nellie Day September 1, 2017

AURORA, COLO. — Majestic Realty Co. has broken ground on a 701,900-square-foot speculative warehouse/distribution facility in Aurora. Nicknamed the “Big Bomber,” the building will be the state’s largest facility of its kind once it’s completed in early 2018. The building is being constructed on 36 acres at the 1,500-acre Majestic Commercenter, situated at the intersection of I-70 and Tower Road. It will feature 36-foot ceiling clearance, 146 dock doors, 198 trailer parking spaces and 426 car spaces. Designed for larger users, the facility will be divisible for multiple tenants who require as little as 150,000 square feet. Majestic has been Aurora’s largest industrial developer over the past two decades.

September 1, 2017

Healthcare New York Northeast

The Congress Cos. to Break Ground on $60M White Plains Institute for Rehabilitation & Healthcare

by Jaime Lackey August 31, 2017

WHITE PLAINS, N.Y. — White Plains Healthcare Properties I LLC has selected The Congress Companies as developer and the joint venture Congress/Consigli JV as the construction manager for the 110,000-square-foot White Plains Institute for Rehabilitation & Healthcare. The $60 million dollar facility consists of 160 beds of skilled nursing, including 76 specialized rehabilitation beds, 42 Alzheimer’s secure beds, and 42 long-term care beds. It will be operated by tenant EPIC Healthcare. The Architectural Team (TAT), of Chelsea, Mass., designed the facility. Congress/Consigli JV worked with TAT and EPIC to bring the project through pre-construction to the construction phase, providing scheduling, line item budgeting, value engineering, cost estimating, and evaluations of alternative building system options. A groundbreaking ceremony will be held Sept. 7.

August 31, 2017

California Multifamily Student Housing Western

Landmark Properties Announces New Student Housing Project Starts, Deliveries

by Nellie Day August 30, 2017

BERKELEY, CALIF. — Landmark Properties has announced $2 billion worth of student housing project starts and deliveries. The developer delivered close to 5,000 beds this fall, including a student housing project called Stonefire at Berkeley near the University of California, Berkeley, in Northern California. In addition to its fall deliveries, the company has begun working on 11 new developments totaling more than 8,000 beds. These projects included the Standard at Flagstaff near Northern Arizona University and the Mark at Tucson near the University of Arizona. Landmark is also slated to break ground on another 12 projects totaling close to 9,000 beds in 2018.

August 30, 2017

Multifamily New Jersey Northeast

JMF Properties Breaks Ground on $50M Multifamily Community in Plainfield, New Jersey

by Jaime Lackey August 30, 2017

PLAINFIELD, N.J. — JMF Properties has broken ground on Quin Sleepy Hollow, a $50 million residential community in Plainfield. This 212-unit rental development, located at 1400 South Avenue near the Netherwood train station, is the largest residential development ever in the city of Plainfield. Residences range in size from 900 square feet to 1,200 square feet. Amenities include stainless steel appliances, vinyl wood flooring, quartz countertops, and chef kitchens, as well as high-speed internet and keyless entry. Community amenities include a club room with common kitchen, community room/business center with wireless internet, billiards room, theater/multimedia room, yoga studio, fitness center with state-of-the-art equipment and Fitness On Demand virtual trainers, as well as outdoor grills, open-air lounge seating, an indoor/outdoor fireplace, and a dog park. The community will also offer a bike share program and an electric car charging station. The project is slated for completion in winter 2018/2019. “This project represents one of the single largest investments in the history of our city,” said Plainfield Mayor Adrian Mapp. “This project will not only transform a large blighted property into a vibrant residential community, but it will also revitalize a major corridor and spur additional retail and economic development. I am …

August 30, 2017

Industrial Northeast Pennsylvania

Duke Leases 628,475 SF Warehouse; Begins Construction of 1 MSF Spec Building

by Jaime Lackey August 29, 2017

EASTON, PA. — Duke Realty Corp. has leased its recently delivered 628,475-square-foot bulk warehouse at 33 Logistics Park in Easton to a national third-party logistics company. The building, 1611, was delivered in early July. Dave Saltzman and Brian Knowles with Lee & Associates represented the tenant. Matt Bremner and Cait English with Duke Realty, along with listing agents Bill Wolf and Sean Bleiler, both with CBRE, represented Duke Realty in the transaction. Duke has also begun construction on a 1 million-square-foot spec industrial building in 33 Logistics Park, which is located on the east side of the Lehigh Valley just off Route 33. It is slated for delivery in April 2018. In addition to 36-foot clear height, the cross-dock building will feature LED lights, 120 fully equipped dock doors, four drive-in doors and parking for 245 trailers and 472 automobiles. The building, 1620, will be Duke’s third in 33 Logistics Park. It is located adjacent to building 1611 and a 1.1 million-square-foot, fully leased bulk warehouse that the company delivered in 2016.

August 29, 2017

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