MONTEBELLO, CALIF. — Combined Properties has planned a $5.5 million renovation for Mart Montebello, a retail center at the intersection of Montebello and Beverly boulevards in Montebello. Originally built in 1957 and last renovated in 1991, the new project will remodel and modernize the facades and pad buildings with new parapets, features, fascia materials and repainted color schemes. Additionally, the renovation includes a new pad building, currently under construction, that is leased to Chipotle and The Habit Burger. The renovation is expected to begin during this quarter with completion by the end of the year. Upon completion, the center will be renamed Montebello Mix.
SAN ANTONIO — Oldham Goodwin has opened a new office in San Antonio. This marks the second office expansion in the company’s history. Steve Monroe will be leading the brokerage efforts for Oldham Goodwin Group’s San Antonio office. Steve’s responsibilities include managing the brokerage division of the new office, as well as growing the San Antonio/South Texas office in terms of personnel and property listings for sales, leasing and property management. Steve boasts more than 25 years in the commercial real estate industry. Most of that time was spent with CBRE, where he served as an investment properties specialist and as a managing director responsible for company operations in New Mexico and California. Oldham Goodwin’s new office is located at 1100 N.W. Loop 410, Suite 700. The new office will offer the same services as the corporate headquarters located in Bryan. Services offered will include brokerage, development, management and investment services.
DAYTON, OHIO — The 399-room Marriott at the University of Dayton will undergo a $21 million renovation in May. The hotel will remain open and operational during the nine-month project. The renovation of guest rooms, meeting spaces, lounge areas and a restaurant is slated for completion in early 2017. Thomas Hamilton Associates will serve as the architect for the project. Concord Hospitality Enterprises Co., which manages the hotel, will oversee the renovation. The University of Dayton and Concord Hospitality purchased the hotel, located at 1414 S. Patterson Blvd., in 2014. The property was constructed in 1982 and sits on 9.8 acres. The hotel was last renovated in 2008. The Marriott at the University of Dayton includes 13,600 square feet of meeting space, a full-service restaurant and bar, a fitness center and pool.
COLLEGE STATION, TEXAS — Haven Campus Communities has acquired The Tradition at Northgate, a 795-bed student housing community located across the street from the Texas A&M campus in College Station. ARA Newmark’s Student Housing Group, led by Ryan Lang, brokered the transaction. Haven plans to implement a renovation project that will be delivered in time for the fall 2017 semester. Renovated units will be furnished with fully equipped kitchens, large flat screen televisions, washers and dryers and trundle beds with pillow top mattresses. The apartments will also feature upgraded private bedrooms and bathrooms with bed to bath parity. Community amenities will include a large central courtyard with an indoor/outdoor lounge leading out to a resort-style pool, covered grills, hammocks and fire pits and a 24-hour fitness center. The clubhouse will feature a cyber-lounge with charging stations, a study room with smart TVs, a coffee bar, pool tables and shuffleboard. The property will also feature a new 1,360-square-foot computer lab when renovations are complete.
AUSTIN, TEXAS — Vesper Holdings has announced the launch of its in-house student housing management company Campus Life & Style (CLS) to manage its rapidly growing portfolio of off-campus apartment communities. Based in Austin, the CLS team will be led by COO Jim Sholders, who most recently served as senior vice president at American Campus Communities. To lead the new company’s design side, Vesper has tapped top New York interior designer Jon Call.
AUSTIN, TEXAS — Austin-based developer Johnson Trube & Associates is developing Skyloft, a Class A student housing property one block from the University of Texas at Austin campus. Located at 507 W. 23rd St., the project will total 22 floors, with four below-grade parking levels and 18 residential levels. Skyloft will house 212 units with a mix of one- to four-bedroom units totaling 677 beds. The project will feature a rooftop pool and fitness center, 24-hour study lounges, media room and underground parking. A recent vote by the Austin City Council green-lighted the move of the historic Dabney-Horne home currently on the site, which is allowing the Johnson Trube development to move forward. The development will offer a percentage of its units as affordable housing. Johnson Trube & Associates plans to break ground in August with an opening scheduled for late July/early August 2018. Project team members include architectural firms Mark Hart Architecture and STG Design and general contractor JE Dunn Construction.
SAN ANTONIO — Somervell Commercial Realty has begun construction on GM Financial Servicing Center in San Antonio. The 100,000-square-foot, two-story facility is located on 13.8 acres in the Westover area at the intersection of North Ellison Drive and Westover Link. Somervell plans to complete the building in one year, after which the building will host 500 employees. The project received tax abatements from Bexar County and the city of San Antonio, as well as a $2.5 million grant from the Texas Enterprise Fund. The facility’s exterior walls will display a stone pattern created by reveals and at least two colors. Tinted green glass curtain walls will be located at two-story entry atriums on the north and south sides of the property.
ALBANY, N.Y. — Eastern Union Funding has arranged construction financing for UP REALTY LLC for the conversion of 20 Park Street in Albany from office to residential use. Motti Blau of Eastern Union negotiated the two-year, $7.3 million loan with the Albany office of Community Preservation Corp. The four-story, 94,920-square-foot former office building is being redeveloped into 73 rental units. On-site amenities will include a rooftop deck, gym and parking. The property is connected to the Times Union Center indoor arena, the Empire State Plaza complex, additional parking and the future convention center via a covered pedestrian walkway. Construction is slated for completion by early summer.
TACOMA, WASH. — Dermody Properties has announced plans to develop a 225,972-square-foot industrial facility in the Tacoma submarket of Fife. The property will be known as LogistiCenter at 167. It will be located at 7402 26th St. E. Construction will commence this spring and should be complete by September. Craft Architects is designing the building, while the general contractor is Poe Construction. Dermody is the project’s owner and developer. Vanessa Herzog, Patricia Loveall and Kraig Heeter of Kidder Mathews will handle leasing.
MADISON, WIS. — Brookdale Senior Living has completed the addition of 67 units and a new memory care program at Brookdale Madison West, an assisted living community in Madison. The $18 million expansion was completed in several phases. In the first phase, a 67-unit assisted living building was added to the existing 48-unit community, as well as a variety of dining options and amenities. In the second phase, the community’s initial assisted living building was updated and renovated to memory care units. The memory care section is split into two sections of 20 units each — one for those with acute memory care needs, and another to try to slow the progression of early-stage dementia.