development2

Dermody Completes 154,440 SF Spec Industrial Property in Metro Atlanta

by Julia Sanders January 26, 2022

DECATUR, GA. — Reno, Nev.-based Dermody Properties has completed LogistiCenterSM at Miller Road, a 154,440-square-foot distribution facility in Decatur. Located at 2800 Miller Road, LogistiCenterSM is situated 16.7 miles east of downtown Atlanta. The property features 32-foot clear heights, 150 car parking stalls, 23 trailer stalls, 35 dock-high doors, an ESFR fire protection system and build-to-suit office space. LogistiCenterSM, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class A distribution and logistics facilities that meet the supply chain requirements for companies. Matt Bentley of NAI Brannen Goddard is the leasing broker for the project. The building is immediately available for lease.

January 26, 2022

Development Florida Multifamily Seniors Housing Southeast

RangeWater to Break Ground on Age-Restricted Multifamily Project in Jacksonville

by Julia Sanders January 26, 2022

JACKSONVILLE, FLA. — Atlanta-based RangeWater Real Estate has plans to break ground on Olea Beach Haven, a 175-unit, age-restricted housing community in Jacksonville. Construction will start in the first half of this year. Olea Beach Haven will offer one-, two- and three-bedroom floorplans. Community amenities will include a dog park, social green space, pool, a library and media rooms. Located on 6.4 acres at 4101 San Pablo Parkway, the property is situated 17.8 miles from downtown Jacksonville, 7.7 miles from the University of North Florida and 5.6 miles from Jacksonville Beach. RangeWater opened its first two Olea-branded properties in Florida in August 2020 and experienced high leasing velocity, leading to stabilization within a year.

January 26, 2022

Colorado Development Healthcare Office Restaurant Retail Western

Evergreen Devco Plans Three Buildings at Nine Mile Corner Mixed-Use Project in Erie, Colorado

by Amy Works January 25, 2022

ERIE, COLO. — Evergreen Devco has broken ground for three buildings at Nine Mile Corner, a mixed-use project in Erie. Located at the southwest corner of U.S. 287 and Arapahoe Road, Nine Mile Corner consists of approximately 26 acres of retail, 12 acres of multifamily and 10 acres of open space. The project is a public-private partnership between Evergreen, the Town of Erie and the Town of Erie Urban Renewal Authority. The under-construction properties are two multi-tenant buildings, totaling 18,000 square feet, and an 8,000-square-foot UCHealth medical office building. Waner Construction is the serving as general contractor and G3 Architecture is serving as architect for the three buildings. Completion is slated for third-quarter 2022.

January 25, 2022

Affordable Housing Development Multifamily Texas

NRP Group Breaks Ground on 368-Unit Mixed-Income Housing Project in Killeen, Texas

by Taylor Williams January 24, 2022

KILLEEN, TEXAS — Cleveland-based developer The NRP Group, in partnership with The City of Killeen Public Facility Corp., has broken ground on a 368-unit mixed-income housing project in the Central Texas city of Killeen. About 50 percent of the units will be reserved for households earning 80 percent or less of the area median income. Amenities will include a pool, fitness center, clubroom and a dog park. J.P. Morgan is the equity investor in the project, and Texas Property Bank provided construction financing. Leasing is slated to begin in early 2023, with full completion of the project scheduled for 2024.

January 24, 2022

Build-to-Rent Development Indiana Midwest

Onyx+East, Pretium Form Joint Venture to Invest $600M for Development of Single-Family Rental Homes

by Kristin Harlow January 24, 2022

INDIANAPOLIS — Indianapolis-based homebuilder Onyx+East has formed a joint venture with investment management firm Pretium to invest approximately $600 million to develop, build and operate new single-family build-to-rent communities. The joint venture plans to build over 2,000 homes across the Midwest and Florida’s West Coast. In 2022, the partnership intends to develop six communities totaling more than 700 homes in Indiana, Ohio and Florida. Progress Residential, Pretium’s single-family rental platform, will operate and manage the communities.

January 24, 2022

Affordable Housing Development Georgia Multifamily Southeast

GBX, Urban Landings to Rehabilitate Affordable Housing Property in Midtown Atlanta

by Julia Sanders January 24, 2022

ATLANTA — Cleveland, Ohio-based GBX Group LLC, in partnership with developer Atlanta-based Urban Landings, will rehabilitate Winnwood Apartments, a historical multifamily property in Midtown Atlanta that will be renovated into affordable housing. Construction on the project is expected to be complete by the fourth quarter. Winnwood is a 90-year-old, two-story property. When renovations are complete, the property will feature about 50 micro and one-bedroom units. Community amenities will include covered parking and a dog park. Located at 1460 W Peachtree St. NW, the property is situated within two miles from Georgia Tech, less than a mile from Atlantic Station, 1.5 miles from Tech Square and 4.4 miles from Georgia State University. Urban Landings helped secure Winnwood’s spot on the National Register of Historic Places in 2021, enabling access to historic tax credits. Simultaneously, the ownership group donated a facade easement to Easements Atlanta, a nonprofit organization whose mission is to accept qualified historic preservation easement donations of certified historic properties in Atlanta. This donation allows permanent protection for Winnwood’s exterior design and makes the project eligible for additional tax incentives.

January 24, 2022

Development Industrial Texas

TDB Land Holdings to Develop 7.5 MSF Industrial Park in Laredo, Texas

by Taylor Williams January 21, 2022

LAREDO, TEXAS — An entity doing business as TDB Land Holdings Ltd. has acquired a 683-acre vacant site in the Rio Grande Valley city of Laredo for the development of a 7.5 million-square-foot industrial park. The development, which will be branded World Industrial Park, will be located along Interstate 35. Andrew Brittingham of Coldwell Banker Commercial represented the buyer in the sale of the land. The land seller and sales price were not disclosed.

January 21, 2022

Affordable Housing Development Multifamily North Carolina Seniors Housing Southeast

Greystone, Urban Trends to Develop $28.9M Affordable Housing Project for Seniors in Charlotte

by Julia Sanders January 20, 2022

CHARLOTTE, N.C. — Raleigh-based Greystone Affordable Development and Charlotte-based Urban Trends Real Estate Inc. plan to develop Eastway Crossings, a $28.9 million affordable housing Low-Income Housing Tax Credit (LIHTC) community located on Charlotte’s east side. Greystone Affordable Development and Urban Trends are co-developers working on behalf of Harmony Housing, a national nonprofit specializing in affordable and workforce housing. Eastway Crossings is Greystone Affordable Development’s first new construction project in the Charlotte market. The community will offer residential units for senior residents aged 55 years and older with household incomes at or below 60 percent of area median income (AMI). Forty of the units will be reserved for veterans through a Veterans Affairs Supportive Housing (VASH) project-based voucher contract. The property will be situated close to the recently completed Eastway Recreational Center, as well as the multimillion-dollar Community Resource Center planned by Mecklenburg County. Community amenities will include a conference room, private one-on-one meeting room, exercise room and other areas that can be used for health and wellness activities. Additionally, onsite staff will coordinate activities with local service providers as well as shuttle services for residents. To fund the development of Eastway Crossings, the partnership was awarded 4 percent LIHTC funds …

January 20, 2022

Development Illinois Industrial Midwest

Ridgeline Property Group Unveils Plans for 416-Acre Logistics Park in Minooka, Illinois

by Kristin Harlow January 20, 2022

MINOOKA, ILL. — Ridgeline Property Group has unveiled plans to develop I-80 Logistics Park, a 416-acre logistics and rail park in Minooka, about 13 miles southwest of Joliet. The site can support more than 7 million square feet of Class A industrial space. Ridgeline plans to break ground on the first building this spring. The 1.1 million-square-foot facility will feature a clear height of 40 feet, 241 exterior docks, four drive-in doors, 766 car parking stalls and 434 trailer stalls. Completion is slated for the third quarter of 2023. Ben Harris of Ridgeline’s Chicago office will lead the project. Matthew Stauber and Jim Estus of Colliers will market the development for lease.

January 20, 2022

Acquisitions Development Industrial Northeast Pennsylvania

Dermody Acquires Former Manufacturing Site in York, Pennsylvania, Plans Redevelopment

by Taylor Williams January 20, 2022

YORK, PA. — Nevada-based Dermody Properties has acquired the former Glen-Gery Corp. manufacturing site in York with plans to redevelop the property into a 342,720-square-foot logistics center. Glen-Gery, a Pennsylvania-based manufacturer of building products, has occupied the 29.5-acre site for more than 50 years and will lease back the facility for the next two years. Dermody will begin construction of the logistics center at that time. The company also intends to complete roadwork improvements to the adjoining intersection.

January 20, 2022

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