development2

Stolz Partners, Sudhoff to Develop Multifamily Project in Houston

by Haisten Willis May 17, 2016

HOUSTON — A partnership between Stolz Partners and Sudhoff Cos. will develop a mid-rise condominium project known as The Sophie at Bayou Bend in Houston. The nearly two-acre site is located at 6017 Memorial Drive. The project was initially to be developed into townhomes, but instead the two companies will develop a seven-story building with 42 condominiums on six floors. Units will range in size from 2,400 square feet to nearly 5,000 square feet, and will include private terraces. Common area amenities will include controlled-access entry points, two levels of controlled-access garage space, private garages, a fitness center and a dog park. Construction will begin once 50 percent of all units are pre-sold.

May 17, 2016

Skanska, Megen Construction to Begin $70M Arena Renovation for University of Cincinnati

by Christina Cannon May 17, 2016

CINCINNATI — A joint venture between Skanska and Megen Construction will undertake a $70 million renovation of the University of Cincinnati’s Fifth Third Arena. The 26-year old facility, originally named the Myrl H. Shoemaker Center, is home to the University of Cincinnati Bearcats men’s and women’s basketball teams and women’s volleyball team. The renovation will include a seating bowl with space for 11,500 spectators, new concessions and restrooms, an upper-level concourse with fan amenities, expanded food and beverage options, a new Bearcats lounge, “super suites” and a new main entrance and plaza. Construction is scheduled to begin in June and is slated for completion in November 2018.

May 17, 2016

Multifamily Texas

Mill Creek Begins Construction of Apartment Complex in East Dallas

by Haisten Willis May 16, 2016

DALLAS — Mill Creek Residential has begun construction on Modera Hall Street, a 340-unit apartment complex in east Dallas. Located on North Hall Street between Ross Avenue and North Central Expressway, the community will be located less than a mile from the Dallas Arts District and Downtown Dallas. Amenities will include an on-site dog park with owner’s lounge, pool with tanning ledge, fitness center, business center and a fifth-floor sky lounge with views of the Dallas skyline. Residents will enjoy 24-hour access to deliveries via an electronic package locker system and the use of Modera-branded bikes. Unit amenities will include quartz countertops, stainless steel appliances, tile backsplashes, wood-style floors and walk-in closets. Mill Creek will manage the community and is partnering with Boston-based GID on the project.

May 16, 2016

Retail Texas

Three New Stores to Open in The Shops at Park Lane

by Haisten Willis May 13, 2016

DALLAS — Three new tenants are scheduled to open at The Shops at Park Lane, a mixed-use development bordered by Park Lane and North Central Expressway in Dallas. The new tenants are DSW Designer Shoe Warehouse, Francesca’s and Carlen’s Luxury Optical. DSW Designer Shoe Warehouse, a footwear and accessories retailer, will open an 18,500-square-foot, two-level store in spring 2017 adjacent to F21 RED and ULTA. Francesca’s and Carlen’s Luxury Optical will open on the ground floor of the center’s five-story office and retail building anchored by J.Crew Mercantile and DXL. Francesca’s will open in May in a 2,045-square-foot space featuring women’s apparel, jewelry, accessories and gifts. In August, Carlen’s Luxury Optical will open a 1,500-square-foot store with luxury eye brands, optical frames and designer sunglasses. Licensed opticians will provide consultations for eyewear and lenses. Northwood Investors owns The Shops at Park Lane, and Northwood Retail manages the property.

May 13, 2016

Office Retail Texas

Jack Dawson Joins SRS Real Estate Partners as Senior Associate

by Haisten Willis May 13, 2016

DALLAS — Jack Dawson has joined SRS Real Estate Partners as a senior associate in the firm’s Dallas/Fort Worth office. Dawson focuses on tenant and landlord representation as well as investment sales. Dawson joins SRS with three years of experience in commercial real estate. He has worked with several retailers in the Dallas and north Texas markets such as AIO/Cricket Wireless, JPMorgan Chase Bank, Sub Zero Ice Cream and Eskimo Hut. He has also worked with many landlords in various project leasing assignments, and marketed several investment sale listings. Dawson has a bachelor’s degree from Southern Methodist University, where he was a Hunt Leadership scholar and a Cox Business School BBA scholar. He is a member of the International Council of Shopping Centers (ICSC) and North Texas Commercial Association of Realtors (NTCAR). Additionally, Dawson regularly works with the Yellow Rose Gala Foundation, a group that supports multiple sclerosis research.

May 13, 2016

Industrial Oklahoma Texas

KBGE Engineering Opens Oklahoma Office

by Haisten Willis May 13, 2016

OKLAHOMA CITY — KBGE, an Austin-based civil engineering firm, has expanded operations beyond Texas, establishing its first out-of-state office in Oklahoma City. Located at 4045 NW. 64th St., Suite 415, the Oklahoma office serves clients throughout the state, providing civil engineering and land-development consulting services. Dean Koleada has been hired to lead the new office. Koleada is an Oklahoma native and long-time friend and colleague of the firm. Koleada is a graduate of the University of Oklahoma and brings more than 16 years of engineering experience to the position, having led the civil engineering effort for numerous types of land development and public infrastructure projects in Oklahoma and Texas. KBGE’s portfolio includes a mix of multifamily, mixed-use, public works, industrial, retail and office development projects. Clients include Transwestern, NLand Surf Park, Cielo Property Group, GroundFloor Development, Ryan Companies, LD&C Development & Construction, Natural Vitality, Rooms To Go, LCS Development and Advance Auto Parts.

May 13, 2016

Loans Multifamily New York Northeast

JDS Development Receives $52M Construction Loan for Apartment Development in Brooklyn

by Amy Works May 12, 2016

NEW YORK CITY — JDS Development has received $52 million in construction financing for an apartment building in Brooklyn’s Park Slope neighborhood. Located at the corner of Baltic Street and Fourth Avenue, the 11-story building will feature 50 apartment units and ground-floor retail space. The property is slated for completion by summer 2017. Douglas Heitner, Sara Saylor, Jessica Wald and Christina Congdon of Kasowitz represented the borrower in the financing transaction.

May 12, 2016

Multifamily New Jersey Northeast

KRE Group, Mark Built Homes Break Ground on 135-Unit Multifamily Property in New Jersey

by Amy Works May 12, 2016

MADISON, N.J. — The KRE Group and Mark Built Homes have broken ground on a multifamily development on Green Village Road in Madison. The development will feature Rose Hall, a collection of 100 rental residences, and Madison Place, a boutique collection of 35 condominiums. Additionally, Rose Hall will include ground-floor retail and restaurant space, a 3,000-square-foot community center and landscaped outdoor gathering spaces. The project is slated for completion in second quarter 2017. KRE and Mark Built Homes jointly acquired the five-acre property, which is the former site of Green Village Road School, in January from the Madison Board of Education.

May 12, 2016

Loans Multifamily New York Northeast

JLL Secures $29M Construction Loan for 38-Unit Multifamily Property in Brooklyn

by Amy Works May 12, 2016

NEW YORK CITY — JLL has secured a $29 million construction loan on behalf of Adam America Real Estate for the development of 308 North Seventh Street, a multifamily property in Brooklyn’s Williamsburg neighborhood. Aaron Appel and Keith Kurland of JLL arranged the loan, which was provided by CapitalSource. The seven-story development will feature 38 residential units, a fitness center, a courtyard, bike storage and rooftop common area with views of Manhattan and Brooklyn. Additionally, the building will provide access to the L and G subway lines, as well as the Brooklyn-Queens freeway and Citi Bike stations.

May 12, 2016

Office Texas

BBVA Compass to Move San Antonio Offices, Flagship Branch to Weston Centre

by Haisten Willis May 12, 2016

SAN ANTONIO — BBVA Compass will move its San Antonio offices into Weston Centre, the city’s tallest office building. As part of the move, the bank’s logo will be placed atop the building’s north and south sides, illuminating it at night. The bank signed a lease earlier this month and will move to the center of San Antonio’s financial district by mid-2017. BBVA Compass will occupy 9,600 square feet in the lobby for a retail branch, and 19,000 square feet on the second floor for corporate offices. Weston Centre will undertake extensive renovations for the new BBVA Compass space. Offices on the second floor will feature an open space layout to maximize collaboration. The offices will feature Wi-Fi and Bluetooth technologies, shared public spaces, collaboration areas and private meeting rooms.

May 12, 2016

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