development2

Midwood Investment Launches Leasing at 82-Unit Apartment Development in Brooklyn

by Amy Works November 2, 2016

NEW YORK CITY — Midwood Investment & Development has launched leasing for The Williams, a 13-story rental residential property located at 282 S. Fifth St. in Brooklyn’s South Williamsburg neighborhood. Designed by Morris Adjmi Architects, the property features 82 units in a mix of studio, one- and two-bedroom layouts, an attended lobby, a lounge with billiards and conference room, a fitness center and yoga room, children’s playroom, laundry facilities, bicycle and stroller storage, and an indoor pet spa. The property also offers a garden terrace with café lounge seating, walkways, grassy areas and a dog run, and a second rooftop terrace with barbecue areas, fire pit, lounge area and an outdoor shower. Additionally, the property features storage lockers, vegetable garden plots and on-site parking for an additional fee. The development is Midwood’s first ground-up residential development in Brooklyn.

November 2, 2016

Indiana Midwest Multifamily Seniors Housing

63-Unit Senior Apartment Community for Low-Income Residents Opens in Indianapolis

by Kristin Harlow November 1, 2016

INDIANAPOLIS — The city of Indianapolis, along with TWG Development LLC and community leaders, recently celebrated the grand opening of Illinois Street Senior Apartments, a 63-unit, low-income housing community, on Oct. 28. Facilitated through the Department of Metropolitan Development (DMD), TWG was awarded U.S. Department of Housing and Urban Development (HUD) grant funds to purchase and develop the historic building at 1352 N. Illinois St. The vacant building once housed Fame Laundry Co. The city supported this project with two HUD funds: the HOME Investment Partnerships Program (HOME), which supports affordable housing projects across the city, and the National Stabilization Program (NSP), a competitive grant created to help local governments acquire and redevelop buildings. The Community Investments Division of DMD earned the NSP grant in 2015, enabling the city and TWG to invest in the property and return it to a community asset.

November 1, 2016

Office Texas

WatchGuard Video to Build $46M Office Facility in Allen

by Haisten Willis October 31, 2016

ALLEN, TEXAS — WatchGuard Video, a manufacturer of law enforcement video systems, will be building its new corporate headquarters in Allen, accommodating up to 700 employees. The build-to-suit project will be completed in two phases for a total of 200,000 square feet of office space and a corporate investment of $46 million. WatchGuard’s new corporate headquarters will be located on 12 acres at the intersection of Exchange and Andrews parkways near Cabela’s and Topgolf, just east of Central Expressway. The first phase of the two-story, 140,000-square-foot office facility is expected to cost $36 million and will open at the end of 2017. The company’s second phase, set for a 2022 completion, will add another 60,000 square feet of space and is expected to require an additional $10 million investment. The company expects to move between 280 and 300 employees into the new office, with a total capacity of around 500 employees before further expansion is necessary. The facility will include open group areas for collaborating, training rooms, an outdoor recreation space, indoor racquetball court, gym, health clinic and a “customer experience room” that allows demonstrations of the company’s products.

October 31, 2016

Midwest Minnesota Multifamily

WNC Provides Nearly $2 Million in LIHTC Equity for Homeless Veterans in Suburban Minneapolis

by Kristin Harlow October 31, 2016

MINNEAPOLIS — WNC has provided nearly $2 million in low-income housing tax credit (LIHTC) equity to fund the development of Linden Grove Veteran Apartments, a 37-unit affordable housing complex exclusively constructed for homeless veterans of the U.S. Armed Forces in the Minneapolis suburb of St. Cloud. The three-story building sits on six acres of land and is located at 4804 Veterans Drive. The apartments are part of the St. Cloud VA Health Care System and designated as permanent housing for low-income veterans who are homeless or at risk of homelessness. St. Michael Development Group LLC, a subsidiary of The Sand Companies Inc., developed the apartments. Affordable Housing Initiatives LLC served as the managing general partner of the project and Jamie Thelen as its developer.

October 31, 2016

New York Northeast Retail

Stalco Construction Completes 5,000 SF Expansion, Renovation in Holtsville, N.Y.

by Amy Works October 31, 2016

HOLTSVILLE, N.Y. — Stalco Construction, as construction manager, has completed the expansion and renovation of H.O. Penn’s parts and service departments and retail area at the company’s 42,000-square-foot building, located at 660 Union Ave. in Holtsville. The scope of the 5,000-square-foot project included relocating the entrance of the retail and parts departments, updating the reception lobby, the demolition of preexisting offices and retail area and the installation of a new storefront-type entrance, retail section, customer support counter and a new office for the department manager. Additionally, the renovated sales floor features seven desks for sales staff and a private manager’s office. The project team included Rosebery Architectural Studio, The Maude Group, 2 Gang Electric and KK Signs.

October 31, 2016

Michigan Midwest

Dan Gilbert’s $15M Donation to Michigan State University Will Support Renovation of Breslin Center

by Kristin Harlow October 28, 2016

EAST LANSING, MICH. — Michigan State University alumni Dan and Jennifer Gilbert are donating $15 million from their family foundation to support a new addition and renovation of the Breslin Center at MSU. The renovation will enhance the fan experience for the more than 500,000 people who attend basketball games and other events at the arena each year. The gift will also support two MSU programs: the Detroit Scholars Program (DSP) and the Resource Center for Persons with Disabilities (RCPD). The donation is one of the largest in MSU’s Empower Extraordinary campaign, which has raised more than $1.26 billion since 2011 to support global problem-solving research, endowed faculty positions, enhanced facilities and student opportunities. Dan Gilbert is founder and chairman of Quicken Loans Inc. and Rock Ventures LLC, the umbrella entity for Gilbert’s portfolio of companies and investments, including his commercial real estate holdings. He is also majority owner of the Cleveland Cavaliers. His wife, Jennifer, is founder and CEO of Amber Engine, a business-to-business cloud-based platform that seeks to transform the way manufacturers and retailers of home furnishings and décor conduct business.

October 28, 2016

Georgia Retail Southeast

Morgan Construction Underway on $24.1M Kroger-Anchored Center in Metro Atlanta

by John Nelson October 27, 2016

CARTERSVILLE, GA. — Morgan Construction Co. is nearing completion of Main Street Market Place, a Kroger-anchored shopping center in Cartersville, roughly 43 miles north of Atlanta. The total construction costs for the development is $24.1 million, excluding the cost of the Kroger Fuel Center. The 53-acre development includes a Kroger Marketplace and fuel center, AT&T, Pacific Dental, Vision Works, Panera Bread, Sport Clips, Las Palmas Mexican Restaurant, Willy’s Mexicana Grill. Phase II of the future development will allow 85,000 square feet for co-anchor space. The Kroger store opened to the public on Oct. 5, but the remaining retail space remains under construction. The development team is led by R.H. Ledbetter Properties of Rome, Ga. The design team includes architects CR Architecture & Design, Buckle Design Group and Schaefer Inc.; and landowner Dellinger.

October 27, 2016

Multifamily Texas

StreetLights Residential Opens The Carter Apartment Community in Houston

by Haisten Willis October 26, 2016

HOUSTON — StreetLights Residential has opened The Carter, a 305-unit apartment community in Houston. Located on Chelsea Boulevard just east of Montrose Boulevard, The Carter is situated near Hermann Park, midtown, downtown, the Texas Medical Center and Rice University. On-site amenities include a bar, fitness center, conference center, pet washing station, dog park, pool and 24-hour concierge service. The Carter’s fitness center features Precor fitness equipment, flex fitness room with spin bikes and a yoga studio. There is also a lounge with billiards and a card table located on the 19th floor. The Carter offers one-, two- and three-bedroom residences, along with four townhomes and five penthouses. Units range from 723 to 3,329 square feet. Unit amenities include 10-foot ceilings, granite countertops and backsplashes, hardwood flooring and stainless steel appliances. GDA Architects designed the building, Lynda Tycher & Associates designed the landscape and SLR Texas Construction served as the general contractor. StreetLights Residential and 5G Studio collaborated on the interior design. Lincoln Property Co. will manage the community.

October 26, 2016

Illinois Midwest Retail

Ryan Companies Is Converting Former Grocery Store into Furniture Store in Metro Chicago

by Kristin Harlow October 25, 2016

SCHAUMBURG, ILL. — Ryan Companies US, Inc. is converting a former Dominick’s grocery store into an Art Van Furniture store in Schaumburg, a northwest suburb of Chicago. Dominick’s closed its operations in the Chicago area in 2013. The facility has been vacant since then. Ryan is undertaking a comprehensive renovation and modernization of the 72,000-square-foot facility, located at 1293 E. Higgins Road. The new Art Van Furniture store, the tenth in metro Chicago, will open later this fall.

October 25, 2016

Retail Texas

Van Marcke Trade Supply to Open Two Locations in Fort Worth

by Haisten Willis October 25, 2016

FORT WORTH, TEXAS — Charlie Otte of Rubicon Representation represented Van Marcke Trade Supply in the lease of two retail stores in Fort Worth. On Dec. 1, the company will move into 5,000 square feet at Westside Marketplace located at 9124 Camp Bowie West Blvd. . Jeff Marek of Vision Commercial Real Estate represented the landlord, TIC Westside Holdings LLC, in the lease transaction. On Jan. 1, Van Marcke Trade Supply will move into a 5,000-square-foot space at 5203 McCart Ave., just off I-20. Ann Ngo of Quine & Associates represented the landlord, Sweet Talking LLC, in the lease. Van Marcke Trade Supply is looking to open 16 new stores in the Dallas-Fort Worth Metroplex.

October 25, 2016

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