WESTERLY, PROVIDENCE AND WARWICK, R.I. — Rhode Island Commerce Corp. Board of Directors and Rhode Island Governor Gina Raimondo have approved more than $7 million in state relocation and redevelopment credits. Funding three projects, the economic development tools include $362,055 in tax credits under the Qualified Jobs Incentive Tax Credit Program to support company relocation and growth, $3 million for the first Tax Increment Financing agreement to support hotel development and $3.6 million Rebuild Rhode Island tax credits to fund the redevelopment of a historic property. Ivory Ella, a socially-minded online retailer, will receive the $362,055 for the relocation of 40 of its current jobs, 19 of which qualify under the Qualified Jobs Incentive Tax Credit program, from Connecticut to Westerly. Homewood Suites Hotels – Exchange Street LLC will receive $3 million for the construction of a $24.5 million 120-room hotel with ground-floor retail in downtown Providence. The board approved $3.6 million in Rebuild Rhode Island tax credits to support the adaptive reuse of a vacant historic mill complex along the Pawtuxet River in Warwick. The property will be redeveloped into a 200,000-square-foot mixed-use development, costing an estimated $34.6 million.
MONTROSE, COLO. — Roaring Fork Lodge LLC has selected Denver-based architectural firm OZ Architecture to design Roaring Fork Lodge, a new independent living, assisted living and memory care community in Montrose, located in the southwestern portion of Colorado. The 80,000-square-foot community will be situated on a 10-acre plot. It will include 10 independent living duplex cottages, in addition to the main building that will feature 69 independent living, assisted living and memory care apartments. The site will also feature a retail component, coffee shop, café and small medical clinic. Colorado-based Vivage Senior Living will operate the community, which is expected to open in late 2016.
WILMINGTON, DEL. — Capital & Guarantee is developing Fenwick Medical Complex, a six-building facility in Wilmington. When complete, the property will feature 120,000 square feet of space, ample parking and a heliport. Anchored by a full-service emergency medical center, the complex will be occupied by various medical specialists and physicians, including cardiovascular, family practice, gastroenterology, gynecology, podiatry, internal medicine, psychology, spinal care and vein care offices. Physician and office space is available as build-to-suit units regardless of size or floor plans.
NORTH KANSAS CITY, MO. — Tutera Senior Living & Health Care will break ground this week on the $65 million Tiffany Springs Senior Community, a continuing care retirement community (CCRC) in North Kansas City, located just across the Missouri River from Kansas City proper. The 14-acre luxury community will feature more than 300 units of independent living, assisted living, memory care and rehabilitation in 300,000 square feet of buildings. Design company studioSIX5 is providing interior design services. Builders for the community include Nearing Staats Prelogar & Jones Architects of Prairie Village, Kan.; Lutjen Inc. of North Kansas City; and Luke Draily Construction Co. of Riverside, Mo. Based in Kansas City, Tutera Senior Living & Healthcare is a developer and operator of 47 seniors housing communities in 13 states throughout the Midwest, Southeast, Oklahoma and Texas.
DALLAS — McCarthy Building Cos. will build Southwest Airlines’ new office and training facility on the company’s corporate campus in Dallas. The new building, called “Wings,” consists of a 414,000-square-foot office building and an attached 367,000-square-foot flight training center, which will house 18 flight simulator bays, associated offices and ancillary areas. The project is valued at more than $150 million, according to the Dallas Morning News. The training portion of the structure will be constructed out of a special hardened building that can withstand 210-mile winds as it must remain operational every day of the year in all weather conditions. Also included in the project is a 1,900-car parking garage and surface parking that will provide for a total of 2,500 cars, as well as additional site work and construction of pedestrian bridges. Southwest’s corporate campus is adjacent to Love Field Airport. BOKA Powell is the project architect and Pacheco Koch is the landscape architect/civil engineer. Reed Wells Benson is the mechanical and electrical engineer and L.A. Fuess Partners and Ponce-Fuess are providing structural engineer services on the project. The project will commence in June and is expected to be completed in early 2018.
HOUSTON — American Bureau of Shipping (ABS) has signed a long-term lease in CityPlace 2, becoming the latest major employer to move its global headquarters to Springwoods Village. CityPlace is a 60-acre mixed-use development that will include 4 million square feet of Class A office space, 400,000 square feet of retail space, a full-service hotel and additional luxury multifamily projects when fully developed. ABS, a provider of classification services to the marine and offshore industries, will occupy the entire office component of the new 10-story, 326,800-square-foot CityPlace 2, which will begin construction in early 2017. Scheduled for completion in late 2018, CityPlace 2 will also include 23,700 square feet of ground-floor retail. Tim Relyea and Kevin Snodgrass of Cushman & Wakefield represented ABS, while Chrissy Wilson of JLL and Dennis Tarro of Patrinely Group represented the landlord.
AUSTIN, TEXAS — Cushman & Wakefield has acquired Oxford Commercial in Austin. Oxford Commercial has served clients in the areas of commercial real estate brokerage, investment sales, development consulting, market research and related advisory services since 1993. The company employs 35 brokers and staff members and has been behind many of the largest transactions in central Texas, including Athena Health’s lease inside the Seaholm Power Plant. In the past three years, Oxford Commercial’s transaction value totals reach $1.3 billion. Spencer Hayes, co-founder and managing partner of Oxford Commercial, will remain as managing principal under the new structure. Hayes worked for Cushman & Wakefield prior to founding Oxford Commercial.
FORT WORTH, TEXAS — Quorum International has inked a 305,000-square-foot lease with Sun Life Assurance Co. of Canada in an early renewal and expansion of its headquarters and distribution center in Fort Worth’s Railhead Industrial Park. The tenant has picked up 101,000 square feet of extra operating room at 400 Railhead Road, a 3.3-acre rail-served property on the city’s north side. Quorum has begun renovations on the expansion space, which has been updated with new lighting by the landlord. Quorum is one of the oldest tenants in the 633-acre Railhead Industrial Park, which opened in 1995 as the largest industrial center in Fort Worth with dual-rail service. Its operations hub features 22 dock-high doors and 28-foot clear heights.
DEFOREST, WIS. — Ryan Companies US Inc. has broken ground on a 130,000-square-foot office and processing facility for The Little Potato Company in DeForest, approximately 17 miles northeast of Madison. The new facility will be located along the western edge of US Hwy. 51 and east of Stevenson Street in the DeForest Business Park. The facility, situated on a 15.9-acre site, is scheduled to open in early 2017. The Little Potato Company, based in Edmonton, Alberta, is a grower and distributor of creamer potatoes.
AUSTIN, TEXAS — Highland Village, a 120,000-square-foot retail center located at 6929 Airport Blvd. in Austin, will be renovated and rebranded as the Crescent. The center will receive façade and exterior improvements, parking lot upgrades, a new pylon sign, monument and directional signage and updated landscaping. Supermarket chain 99 Ranch Market will anchor the project, opening its first Austin location at the Crescent in early 2017. The California-based supermarket offers fresh produce, meat and seafood, along with Chinese, Korean, Japanese and American specialty grocery items. 99 Ranch Market was established in 1984 and has grown to become one of the largest Asian supermarket chains in the United States, with more than 43 locations in California, Nevada, Texas, New Jersey and Washington state. Kula Revolving Sushi Bar will also open inside the center. Eric DeJernett and John Heffington of CBRE’s Austin office are the exclusive retail leasing advisors for the project, and CBRE also manages the property.