Noblesville is the historic seat of Hamilton County. But the once-sleepy community is now undergoing major change to attract new businesses and residents. Wochit

A four-story apartment building, retail shops and a parking garage are being proposed along the White River in Noblesville at the site of a Hamilton County employeeparking lot.

Officials with thecity, J.C. Hart Company and Republic Development said the $47.9 million project at 5th Street and Maple Avenue will have 219 apartments, 5,000-square feet of retail space and parking for 295 cars.

The spot is just east of the river on the 3.4-acre area that also houses McMillan's Auto Care.

One of our citys great assets is the White River and this project will bring people to the heart of our city and increase the vibrancy along the river, Mayor Chris Jensen said a written statement. Investing in our downtown livability and quality of life attracts more talent to our community, which ultimately drives our economic development.

In Hamilton County: Here's why most schools still have an in-person learning option

The project is the second piece in an arrangement between the county, city and developers.

The county is planninga 430-space employee parking garage at 8th and Clinton streets to replace the two lots at 5th Street and Maple Avenue, which the county sold to thedevelopers for $4.5 million.

Commissioner Mark Heirbandt said the county had long sought a garage because it is safer for the employees who now must cross Ind. 32 to get to the Hamilton County Government Center.

Preliminary plans are for the$9.5 million employee garage to have four floors one underground with 430 parking spaces and the capacity to add another floor later with 150 more spaces, Heirbrandt said. The parking lots being replaced hold 332 cars. It would be open to the public on weekends and after work hours. RQAW Architects is working on the final design and construction could begin in 2021.

The mixed-use project includes an outdoor sports and activity area, greenspace along the river, a pool and a clubhouse. The apartments will rent for between $850 to $2,000 per month.

The project continues a string of rental unitsplanned in or neardowntown. Among them are:

John Hart, president of J.C. Hart, saidhis project will help the city achieve its goal of increasing densityand vibrancydowntown.

Our vision for this development is to provide diverse housing options across a wide demographic to both attract millennials, working professionals, and folks who are looking to downsize, Hart said in a news release.

Theplanwill be presented to the CityCouncil at an upcomingmeetingand the developer expects to break ground on the project in late spring or early summer 2021, if approved.

Carmel-based J.C.Hart has also developed the Flats at Switch in Fishers, Midtown Flats in Carmel, Pebble Brook Village in Noblesville and Penrose onMass in Indianapolis.

Call IndyStar reporter John Tuohy at 317-444-6418. Email at john.tuohy@indystar.com and follow on Twitter and Facebook.

Read or Share this story: https://www.indystar.com/story/news/local/hamilton-county/2020/12/03/noblesville-apartments-another-complex-planned-near-downtown-white-river/3796256001/

Go here to read the rest:
$47.9M mixed-use project planned along White River in downtown Noblesville - IndyStar

Mill Creek Residential, a national multifamily developer with a substantial Texas presence, has contracted to buy The Lot and Local Traveler sites for conversion to a mixed-use development branded as The Trailhead.

The Lot and Local Traveler restaurants, located at the Gaston, Garland, Grand intersection, closed permanently during the pandemic. Sharing a property line, the two sites total 3.88 acres.

The Lot site is zoned mixed use, and the Local Traveler site carries a community retail zoning. Mill Creek has filed a re-zoning case with the City of Dallas proposing to combine the sites under a planned development classification that would allow construction of about 320 apartment units and between 10,000 and 20,000 square feet of commercial space a combination of retail and office space depending on forecasted demand.

The land is at the confluence of three City Council districts Paula Blackmons District 9, Dave Blewetts District 14 and Adam Medranos District 2, where the property is located. Mayor Eric Johnson likely drives by the property to and from City Hall from his home in Forest Hills. The property is down the street from the Dallas Arboretum and adjacent to the Santa Fe Trail.

Navigating these different constituencies during the rezoning process will be challenging.

We have assembled a team of designers and consultants from the neighborhood, says Michael Blackwell, senior managing director of Mill Creek. We, together with the sellers, are East Dallas people who were also fond of The Lot and Local Traveler and who use the lake and the trails daily. We want to do something special, unique, upscale and mixed use that would only work right there.

Multifamily builders have focused on transit-oriented developments in Dallas and other markets. Blackwell substitutes trail for transit in a nod to the sites location next to the Santa Fe Trail.

The Trailhead will be a trail-oriented development about the Santa Fe Trail and the connections to the broader system including White Rock and Trinity Forest to celebrate, engage, support, encourage and treat it like a great street, he says.

Mill Creek Residential has significant experience in developing mid- and high-rise multifamily in Dallas locations. Under its Modera brand, Mill Creek has developed Modera Hall, Modera Howell, Modera Uptown and the under-construction Modera Katy Trail. View Mill Creeks past projects in Dallas and other markets here.

City staff and plan commission meetings are anticipated to begin in late January or early February. Adjacent landowners will be notified of public meetings, and Mill Creek is sure to hold neighborhood gatherings as they seek support for the rezone. Now that the case is filed, the City will soon post the developers submittals here.

So many dynamics are woven into this land-use question density, height, affordability, architecture, scale, traffic, trails, topography, unique neighborhoods, multiple councilpersons, multiple plan commissioners, adjacent uses and what is allowed by right today. Buckle up.

Read the original:
Rezoning proposed for The Lot and Local Traveler sites - Advocate Media

EAST BRUNSWICKThe Township Council introduced an ordinance authorizing the municipality to enter into a financial agreement with the redeveloper of the 110 Tices Ln. Redevelopment Project.

The property is currently owned by the redeveloper, Tices Developers, LLC.

The redeveloper proposes to redevelop the project area with the construction of 520 residential dwelling units consisting of apartments, townhomes, a clubhouse, maintenance facilities, 18,000 square feet of retail space, and adequate parking to accommodate the residential and retail components, according to the plans.

The redeveloper and the Redevelopment Agency have agreed to enter into a redevelopment agreement with the agency dated November 2020 to set in detail each parties undertakings, rights and obligations in connection with the development and construction of the project, according to the council.

On Nov. 9, before the council introduced and approved the ordinance, Mayor Brad Cohen said this ordinance is an attempt to use the redevelopment law to replace functionally obsolete industrial space in town and replace it with a modern mixed-use transit-oriented development for the needs of those who are living here now.

For those that are only concerned about the monetary effect, the tax effect on this is significant. The present tax revenues that we have for this property is about $500,000 a year, which only 20% comes to the township under the current tax code, Cohen said. With the new PILOT [payment in lieu of taxes] agreement it will bring upwards of [more than] $2.5 million over a 30-year period of time yearly. At 95%, which is how a PILOT works, it would net out to the town to $2.375 million or more per year going forward.

While its a five times increase in the amount of taxes coming to the township, Cohen said its a 23.75% increase in terms of what comes to the municipal government.

I think that people need to keep in mind that significant increase can be used to fund recreational programs, school programs that may be needed and in many other infrastructure programs in town that would otherwise fall to the current taxpayers and residents, Cohen said.

Redevelopment Agency Chairman and Councilman James Wendell said on Nov. 9 that this financial agreement will be a tremendous tax windfall for the town.

Its a great development coming to town. I think its going to add a lot of revenue. There were many months of negotiation between the developer, myself, Redevelopment Agency Director Michael Hughes, and the mayor and everybody else got involved and it took a long time to get to the point where were at, Wendell said. I think that were sitting on the high side from what the other towns get and I think developers understand what the township brings to them and the long-term investment that theyre going to make.

Wendell said the developer understands what the township brings to them and the long term investment that theyre going to make. The good part of this developer is now the agency will have a partner that is going to be a long-term investor in town.

These are not merchant builders that are going to look to build something and sell it, and I think to have a 30-year long term partner in town is a great thing to have , they know what it takes to keep these buildings going and keep these buildings successful, Wendell said.

The council approved and adopted the ordinance authorizing the financial agreement between the agency and the redeveloper for the 110 Tices Ln project on Nov. 23 during the council via video conference.

In order to enhance the economic viability of and opportunity for a successful project, financial assistance is necessary in order for the project to be undertaken in its intended scope, according to the council.

Councilman Kevin McEvoy asked Township Attorney Michael Baker if that means there is going to be a need for someone ask the township for money.

No, what that means is that this project couldnt happen without there being some different structure for the taxes that they would pay because it said. Its very common, particularly when youre developing an older industrial site that had some environmental issues, you have a large facility to take down and concrete to take out, Baker said. When youre also having to meet some of the significant portions of the townships requirements under the Fair Housing Plan, it makes for a much more expensive than usual project, as in anticipation of those things. The state legislature passed statutes that allow a town to structure differently.

The way that these properties would be taxed, its the long term tax exemption statute that allows for a special financial arrangement between the property owner and the developer to be made, and its in an effort to make sure that the project is viable, that the old industrial facility can be properly developed and that its fair to both parties, Baker said.

For this agreement, Baker said the developer and township professionals held weekly in-person meetings through March. Now, using the Zoom platform, the professionals have continued to meet and got to the point where everyone is comfortable that this is a very good deal for the township.

An application went before Cohen and the council for the approval of a long-term tax exemption in accordance with Long Term Tax Exemption Law (LTTE) for the improvements to be constructed as part of the project, according to the council.

Baker said the long-term tax exemption is the statute that allows the structure of taxes for a project in a redevelopment area to be raised differently instead of having an ad valorem tax which is the tax on the value of the property. There are two options, it can be a percent of the construction or a percent of the revenue, he said.

In this case, Baker said its a 12% of revenue for the first 10 years, 12.5 for the next 10 years and 13% for the following 10 years that will produce a revenue stream of taxation, to the town of about $2.3 million a year.

Right now the town is getting about $125,000 of the revenue from the property before development. Now the town will get a beginning 95% of the revenue from the project. The folks who get less money will be principally the county, but thats the way the statute is structured, Baker said. As a result of that, the town will be able to collect far more in revenue from this project, then the town will have to expand in cost of servicing the people and the project.

Any exemption from taxation as set forth in the financial agreement is granted to the redeveloper with respect to the project for the term set forth in the financial agreement; provided that in no event will the term of the agreement exceed the earlier 35 years from the date of execution of the agreement or to the extent permitted by the LTTE law, 30 years from the redevelopers receipt of a Certificate of Occupancy for the project, and only so long as the redeveloper remains subject to and in compliance with the agreement and LTTW law, according to the council.

This ordinance will take effect in accordance with all applicable laws, according to the council.

For more information, visit http://www.eastbrunswick.org/129/Agendas-Minutes.

Contact Vashti Harris at vharris@newspapermediagroup.com.

The rest is here:
East Brunswick introduces ordinances entering into finance agreement with developer of Tices Lane property - centraljersey.com

A rendering of Wheaton Gateway, an 800-unit project planned by The Duffie Cos., Willco and the Housing Opportunities Commission of Montgomery County.

A major new residential project is slated for the Wheaton area in eastern Montgomery County.

A joint venture of The Duffie Cos., Willco and the Housing Opportunities Commission of Montgomery County is scheduled topresent Wheaton Gateway, an 800-unit project, to the community Thursday evening, Bethesda Magazine reports.

The team postedthe plans on the project website ahead of the presentation, which is being held virtually at 7 p.m. The teamis currently goingthrough the sketch plan process, and it aims to begin construction by 2023.

The project sits at the intersection ofUniversity Boulevard and Veirs Mill Road, across the street from the Westfield Wheaton shopping mall. It is about a half-mile from the Wheaton Metro station, the penultimate stop on the eastern branchof the Red Line.

The developmentsite, composed of five adjacent properties, currently houses a Lindsay Ford dealership with a large surface parking lot. The properties along University Boulevard previouslyhouseda Mattress Firm and an Ambassador hotel, which have both been demolished.

The Housing Opportunities Commission acquired the properties in multiple transactions from January 2019 to July 2020 totaling more than $12M, property records show.

The proposal calls for up to 800 units, roughly 30% of which would be set aside as affordable housing, withunits ranging from one to three bedrooms. It also calls for about 50K SF of commercial space and underground parking.

The project would be built over three phases, with the first phase consisting of about 325 units and 25K SF of retail.

The Duffie Cos., founded in 1953, is also the developer behind the two-buildingHillandale Gatewayproject in Silver Spring. Willco, which hired a new CEOin September, also has 4M SF of developmentplanned in Montgomery County's White Flint area.

See the rest here:
Duffie, Willco Propose 800-Unit Project In Wheaton - Bisnow

Exterior work is now fully complete at 25 Park Row, a 702-foot-tall mixed-use skyscraper in theFinancial District, and what had been an active project on YIMBYs annual December countdown list the past few years. Designed by COOKFOX Architects and developed by J&R Music Worlds Friedman family and L+M Development Partners, the 50-story reinforced concrete structure contains a total of 110 residences. YIMBY recently spoke with L+Ms Tell Metzger about the rise of the new tower, the evolution of the surrounding neighborhood, and the changing styles of contemporary residential high-rise design.

YIMBY in bold.

The neighborhood around City Hall has seen a dramatic transformation over the past decade. What do you think are the main factors that led to this rapid evolution and transition to a more residential nature?

The push to transform City Hall and the surrounding downtown neighborhoods began over twenty years ago with the conversion of commercial towers into residential properties to meet an overwhelming demand for housing in the area. Within the past decade, the area has established itself further as a premier residential neighborhood with the arrival of notable schools, luxury retail outposts, lauded restaurants and food halls, and cultural institutionsall of which have made the neighborhood a destination amongst New Yorkers.

25 Park Rowsblock is home to what was once the tallest building in New York City. How did that historical context play out in relation to designing its new neighbor?

You are referring to 25 Park Rows neighbor,15 Park Row, which held the distinction as the tallest building in the city until 1908.CookFoxthoughtfully designed 25 Park Row to complement and complete the urban room comprising the architecturally and historically significant buildings on the perimeter of City Hall Park. Its height and design is a complement to its esteemed neighbors.

Did the architects and developers behind One Beekman and The Beekman consult with your team on their projects, and vice versa? The buildings appear coherent with the blocks overall vernacular.

The Beekman proceeded 25 Park Row so was part of the context to consider. 25 Park Row is designed with the core to the south and a single-loaded corridor allowing every residence unobstructed views over City Hall Park and beyond. This means that quite literally, its back is to The Beekman. The facade of 25 Park Row was carefully calibrated to complement the buildings that rim the park as its primary objective. Any similarities with One Beekman are a happy accident.

What were the challenges of developing the site?

Its critical to New York City life to get the streetscape right, but its difficult because theres not a lot of political momentum to support retailers at the moment. The city does have tools in the form of tax abatements that were deployed successfully in Manhattan after 9/11 and could be used to new effect today. In terms of our future tenants, we have an office space and a retail space so we anticipate our office user will value our park views and the private lobby and elevator buildout.

What are some advantages prospective tenants will have in this location?

Our retail tenant will be able to take advantage of the neighborhoods residential population in addition to local office workers and foot traffic stemming from our location near the Brooklyn Bridge as well as other attractions.

Do you consider 25 Park Row to represent Neo Art Deco architecture, and do you think the rise of other skyscrapers like Rose Hill, 111 West 57th Street, andVandewateraffirm a citywide trend towards the rebirth of design that does not become immediately dated?

The skyscraper building period coincided with the rise of the Art Deco period. Consequently some of New Yorks most iconic buildings, such as The Chrysler Building, Empire State Building, and Rockefeller Center embody this design now synonymous with classic New York. Accordingly, buildings seeking to be classic in design, particularly when near or adjacent to a commercial area, will often reflect the Art Deco heritage of New York and, often, the architectural context. This is much, in the way that Rosario Candela, Emory Roth and other pre-war designers are still referenced in residential exterior and interior design. 25 Park Row seeks to continue that tradition.

On the subject of Art Decos rebirth, do you think that the respective market is to credit for the creativity of these designs, or is technological progress and cost efficiency of construction also contributing to the feasibility of this revival?

Fundamentally 25 Park Row is a new construction building. Renovating an Art Deco skyscraper would likely be more complex than building a rationalized new residential tower. We were able to situate the buildings core to ensure that every residence has a view over City Hall Parkthis approach to building design is rooted in a contemporary approach.

25 Park Row offers crafted interior and amenity design. The development team ensured the integrity of the intricate interior design was meticulously executed. The amenities and interiors at 25 Park Row are even more beautiful that the architectural renderings. The reality is better than the dream.

With Fulton Center and the Oculus recently opening nearby, the neighborhood is more transit accessible than ever before. What additional infrastructure improvements do you think would benefit the vicinity?

The area infrastructure now includes a Whole Foods, the Seaport Entertainment Complex and the new Perelman Performing Arts Center, in addition to the numerous acres of waterfront park and recreation space. With nearby educational institutions from preschools to world-class universities, it is hard to imagine what more one could seek in this fully realized 24 hour neighborhood.

How do you think theCity should encourage the revitalization of neighborhood retail in Lower Manhattan, and what kind of tenants do you anticipate will ultimately occupy 5 and 25 Park Row?

Its critical to New York City life to get the streetscape right, but its difficult because theres not a lot of political momentum to support retailers at the moment. The city does have tool in the form of tax abatements that were deployed successfully in Manhattan after 9/11 and could be used to new effect today. In terms of our future tenants, we have an office space and a retail space so we anticipate our office user will value our park views and the private lobby and elevator buildout.

The accumulation of history on 25 Park Rows block will imminently illustrate the absolute limit of floor-area-ratios. Do you think that its time to repeal the state-mandated cap on residential FAR, and if it were repealed, do you think developers would ultimately be able to build taller housing that is also more affordable at market rates?

This is an issue that is at the citys discretion to determine the public good.

Whats next on the horizon for your firm, after 25 Park Row is fully wrapped?

We will continue our corporate mission of building quality housing throughout New York City and beyond, across price points and product types. We look forward to partnering with teams in the future who will bring a deep respect and knowledge to future developments as the Friedmans did with this site.

25 Park Row. Photo by Michael Young

25 Park Row. Photo by Michael Young

Subscribe to YIMBYs daily e-mail

Follow YIMBYgram for real-time photo updatesLikeYIMBY on FacebookFollow YIMBYs Twitter for the latest in YIMBYnews

Read more from the original source:
Ten Questions With 25 Park Row and L+M Development's Tell Metzger, on Neo Art Deco, Neighborhood Retail, and More - New York YIMBY

VIRGINIA BEACH, Va., Dec. 03, 2020 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE: AHH) today announced it has formed a 50/50 joint venture with Beatty Development Group, which will develop and build T. Rowe Prices new 450,000 square foot global headquarters in Baltimores Harbor Point. Beatty is the lead developer of the joint venture and Armada Hoffler is the noncontrolling equity partner and general contractor for the build-to-suit project.

Situated between Harbor East and Fells Point, Harbor Point is Baltimores largest downtown waterfront development site with capacity for up to three million square feet of mixed-use space on 27 acres. T. Rowe Price has signed a letter of intent for a 15-year lease at Harbor Point for two sustainably designed and constructed buildings totaling approximately 450,000 square feet. The T. Rowe Price site is adjacent to Armada Hofflers existing Harbor Point assets: the Wills Wharf office building, the Thames Street Wharf office building, and 1405 Point apartments. In addition to T. Rowe Prices new global headquarters, the joint venture plans to develop complementary ground level retail and limited onsite parking as well as expand and improve the green spaces and public amenities at Harbor Point. The preliminary estimated cost of this entire phase of mixed-use development office, retail, onsite parking, and public space improvements is approximately $250 million.

In conjunction with the build-to-suit project, another joint venture between Beatty and Armada Hoffler will develop and build a new mixed-use facility with structured parking on a neighboring site to accommodate both existing parking requirements and the influx of employees relocating to Harbor Point. T. Rowe Price plans to relocate its downtown Baltimore operations to Harbor Point in the first half of 2024.

T. Rowe Price further validates Harbor Point as a top tier destination for world-class companies, said Lou Haddad, President & CEO of Armada Hoffler Properties. Alongside Exelon, Morgan Stanley, and EY, we are excited to welcome T. Rowe Price and their 1,700 employees currently downtown to Harbor Point.

We look forward to continuing our 25-year partnership with Armada Hoffler in creating an innovative and sustainable global headquarters for T. Rowe Price at Harbor Point, said Michael Beatty, President of Beatty Development Group.

About Armada Hoffler Properties, Inc. Armada Hoffler Properties, Inc. (NYSE: AHH) (the Company) is a vertically-integrated, self-managed real estate investment trust ("REIT") with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. In addition to developing and building properties for its own account, the Company also provides development and general contracting construction services to third-party clients. Founded in 1979 by Daniel A. Hoffler, the Company has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information, visit ArmadaHoffler.com.

Forward-Looking Statements Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements. These forward-looking statements may include comments relating to the proposed T. Rowe Price headquarters and related projects, including the anticipated lease duration, expected timing of completion and the size of the Companys portfolio after completion of the T. Rowe Price project. For a description of factors that may cause the Companys actual results or performance to differ from its forward-looking statements, please review the information under the heading Risk Factors included in the Companys Annual Report on Form 10-K for the year ended December 31, 2019, and the other documents filed by the Company with the Securities and Exchange Commission (the SEC) from time to time, including the Companys Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020, and September 30, 2020. The Companys actual future results and trends may differ materially from expectations depending on a variety of factors discussed in the Companys filings with the SEC. These factors include, without limitation: (a) the impact of the coronavirus (COVID-19) pandemic on macroeconomic conditions and economic conditions in the markets in which the Company operates, including, among others: (i) disruptions in, or a lack of access to, the capital markets or disruptions in the Companys ability to borrow amounts subject to existing construction loan commitments; (ii) adverse impacts to the Companys tenants and other third parties businesses and financial condition that adversely affect the ability and willingness of the Companys tenants and other third parties to satisfy their rent and other obligations to the Company, including deferred rent; (iii) the ability and willingness of the Companys tenants to renew their leases with the Company upon expiration of the leases or to re-lease the Companys properties on the same or better terms in the event of nonrenewal or early termination of existing leases; and (iv) federal, state and local government initiatives to mitigate the impact of the COVID-19 pandemic, including additional restrictions on business activities, shelter-in place orders and other restrictions, and the timing and amount of economic stimulus or other initiatives; (b) the Companys ability to continue construction on development and construction projects, in each case on the timeframes and on terms currently anticipated; (c) the Companys ability to accurately assess and predict the impact of the COVID-19 pandemic on its results of operations, financial condition, dividend policy, acquisition and disposition activities and growth opportunities; and (d) the Companys ability to maintain compliance with the covenants under its existing debt agreements or to obtain modifications to such covenants from the applicable lenders. The Company expressly disclaims any responsibility to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Armada Hoffler Properties, Inc. Contacts:

See the article here:
Armada Hoffler Properties Announces Joint Venture to Develop & Build New Global Headquarters for T. Rowe Price at Harbor Point - GlobeNewswire

The New York City Economic Development Corporation is set to commence construction of the Bronx Point affordable housing project on the edge of the Harlem River. The project will be constructed on a vacant piece of land along the river owned by the city of New York.

The project will include 542 affordable housing units, community and retail spaces, a new public park, and a museum dedicated to the history of hip-hop. The project is being developed by the New York City Economic Development Corporation in partnership with several city agencies whose main agenda is to address the lack of affordable housing and jobs in the low-income and rent-burdened areas of the South Bronx.

As opposed to typical mixed-use projects that are developed at market rates, Bronx Point affordable housing project was designed to specifically address the needs of the neighborhood including the inclusion of additional cultural and community amenities.

Thanks to its ambitious plan, the project recently won the Annual Awards for Excellence in Design from the Public Design Commission which is tasked with reviewing designs of projects in the city.

The project will include a U-shaped cluster of building towers on the edge of the river with community, retail, and museum spaces at the base. The mixed-use project was especially necessary given the fact that the city is trying to meet the high demand for affordable housing. In addition, the project ensures some equity in the distribution of job opportunities.

One thing that sets this project apart is just the scale of it. Were able to achieve so many of these benefits because the project is so large, said Douglas Land, real estate transaction senior associate at the New York City Economic Development Corporation.

The more than half a million square feet project will 50,000 square feet for the first permanent home of the Universal Hip Hop Museum and 10,000 square feet of retail space. The new museum will be dedicated to highlighting the story of the local creation of hip-hop.

See the rest here:
Construction of Bronx Point affordable housing project to start next year - Construction Review

General Manager Patrick Sayler stands in front of The Co-Op Natural Foods in Sioux Falls. The Co-op is planning a large expansion.(Photo: Jeremy Fugleberg / Sioux Falls Business Journal)

The Sioux Falls Food Co-op is about to get bigger as the grocer embarks on its multi-phased expansion plans.

Construction has already begun in the tenant space next to the Co-op's current location in the retail center at410 W. 18th St., just off of Minnesota Avenue.

Leadership for the grocery store wrapped up their capital campaign just last month after months of planning and years of anticipating a need for more room, general manager Patrick Sayler said.

"In the co-opworld it's not as simple as in regular retail world," Sayler said. "There are so many more stakeholders involved."

The Co-op was issued building permits this week for the project, a four-phase timeline expected to culminate in the spring. Early work won't be as disruptive to the store's operations because the walls are up between the two spaces, which will eventually become one single, larger space.

A 3-D rendering of what Co-op Natural Foods in Sioux Falls will look like after the store's planned expansion in 2020.(Photo: Submitted)

Crews have already finished demolition on the other side and will be able to finish most of the work before the walls come down, including building out a deli area nearly four times the size of the current section.

"It's quite an undertaking," Sayler said.

By the time the spaces are combined and the remodeling work is finished, each section of the Co-op will have more space. The largest expansions -- after the deli -- will occur in the meat department and frozen department.

The growth will also help the Co-op better meet the food needs of the growing number of aspiring home-based chefs, who are using quarantine during the coronavirus pandemicto branch out in their cooking, Sayler said.

"It seems like folks are really getting out of their comfort zone and trying out new and different things," he said.

Expanding the Co-op has been something the store's organizers have been planning since Sayler started in 2016.

"Pretty quickly after moving tothe space we're currently in, we realized we we're going to outgrow the space," he said.

Read or Share this story: https://www.argusleader.com/story/news/business-journal/2020/11/05/construction-underway-co-op-looks-ahead-serving-growing-customer-base/6159561002/

Read the original:
With construction underway, the Co-op looks ahead to serving growing customer base - Argus Leader

Some 2.2 million square feet came online year-to-date through Octoberthe largest office delivery was Cousins Properties Domain 12, a 320,102-square-foot building within The Domain, considered Austins second downtown. Meanwhile, another 2.2 million square feet is slated for completion by year-end, with deliveriesprojected to surpass last years 2.4 million square feet. The list below maps out the largest office projects underway in the metro as of October, based on Yardi Matrix data.

Some 2.2 million square feet came online year-to-date through Octoberthe largest office delivery was Cousins Domain 12, a 320,102-square-foot building within The Domain, considered Austins second downtown. Meanwhile, another 2.2 million square feet are slated for completion by year-end, with deliveriesprojected to surpass last years 2.4 million square feet. The list below maps out the largest office projects underway in the metro as of October, based on Yardi Matrix data.

In October 2019, Lincoln Property Co. teamed up with The Lynd Co. and Kairoi Residential to develop Austins tallest tower. The project will rise 66 stories and 847 feet high, surpassing the Jenga-shaped The Independent locateda few blocks away.

Dubbed 6 x Guadalupe, the 1.1 million-square-foot mixed-use development is taking shape downtown, at 400 W. Sixth St., and features 590,000 square feet of office space, first-floor retail, 34 floors of residential and 10 levels of parking with 1,627 stalls. Designed by Gensler, the property is expected to come online in the third quarter of 2022. QuadReal Finance provided $272 million in construction financing. A former Extended Stay America hotel was demolished to make way for the project.

Another project emerging in downtown Austin, at 1801 Congress Ave., is Texas Facilities Commissions George H.W. Bush State Office Building. The 603,000-square-foot development is estimated to cost $580 million, with a team that includes Page as the master architect, CobbFendley as the site services engineer and Balfour Beatty as the construction manager agent.

At full build-out, anticipated for the second quarter of 2022, the 14-story building will include first-floor retail and eight levels of parking space, as well as display and performance space. The Texas Lottery Commission has already signed on as a tenant. The project represents the first phase of the Texas Capitol Complex, a mixed-use development spanning 46 square blocks. Phase I also includes a 416,000-square-foot project underway at 1601 Congress Ave. The upcoming facilities will serve as the foundation of a new pedestrian mall known as Texas Mall.

Trammell Crow Co. and Principal Real Estate Investors broke ground on Indeed Tower in May 2018. The 716,438-square-foot, 36-story project is expected to come online in the second quarter of 2021 and will include 43,000 square feet of first-floor retail space and 12 levels of parking. JPMorgan Chase originated a $211.5 million construction loan.

Two-thirds of the project has been preleased by the Teacher Retirement System of Texas, Indeed and Brown Advisory Group. DPR was selected as the general contractor and Page Southerland Page as the architect. In addition to the office building, the joint venture plans to transform the site into a mixed-use destination by redeveloping a former historic post office into a 25,000-square-foot retail segment and a 20,000-square-foot outdoor plaza. The site is located in downtown Austin, at 200 W. Sixth St., equidistant to the upcoming 6 x Guadalupe and 405 Colorado developments.

Trammell Crow Co. is also working on Block 185, a 794,000-square-foot, single-tenant office building serving as Googles future home. Construction on the 35-story asset started in January 2019, with completion scheduled for the second quarter of 2022. Pelli Clarke Pelli Architects designed the project, which features a sail-like design and will include785,783 square feet of office and 8,100 square feet of retail space.JPMorgan Chase financed the project with a $408.5 millionconstruction loan.

Block 185 is located at 601 W. Second St. in downtown Austin, on the last portion of undeveloped land of the former Thomas Green Water Treatment Plant. The upcoming project is close to the Colorado River, rising west of Googles nearby 29-story office.

One year ago, Apple broke ground on its $1 billion Austin campus, a 3 million-square-foot project including 981,471 square feet of office space scheduled for completion in the second quarter of 2022. The development will also include a 192-key, six-story hotel.

JE Dunn Construction serves as the general contractor, while Cardno is the structural engineer. Studio 8 Architects serves as the lead designer andNudge Designas the landscape architect. Spreading across 138 acres at 6900 W. Parmer Lane in Northwest Austin, the campus is projected to house up to 15,000 employeesdouble the tech giants current employment base in the metro.

See original here:
Top 5 Office Projects Under Construction in Austin - Commercial Property Executive

Although office vacancy levels have increased in Houston over recent quarters,development activity has continued at a steady pace, with no major delays in deliveries. According to Yardi Matrix data, 28 properties totaling 5.6 million square feet were under construction in the metro as of October, and more than 60 percent of the space has been preleased.

Seven properties encompassing some 775,000 square feet were completed year-to-date, including Stonelake Capital Partners 200 Park Place, a 207,200-square-foot project in Houstons High Street corridor. Another 1 million square feet of office space is scheduled for completion by the end of 2020, with projected deliveries on par with last years 1.7 million square feet. Yardi Matrix identified the largest office projects underway in the metro, as listed below.

Last month, CHI St. Lukes Healthbroke ground on OQuinn Medical Tower, a 400,000-square-foot office building in Houstons Medical Center submarket. The 12-story, $426 million project is scheduled for completion at the end of 2021 and will house the Dan L Duncan Comprehensive Cancer Center. The building will be connected to a new eight-story parking garage. Harvey-Cleary Builders is the general contractor for the project.

Located at the corner of NWC Old Spanish Trail and Cambridge Street, OQuinn Medical Tower is rising within the 1.2 million-square-foot Baylor St. Lukes Medical Center McNair Campus, where the organization plans to relocate all its clinical care services. The campus sits just south of the Texas Medical Centerthe largest medical complex in the worldand close to Hines upcoming 52-acre life science hub.

Crown Castle, one of the nations largest providers of shared communications infrastructure, is developing 8020 Katy Freeway, a 420,000-square-foot office asset in Houstons North Loop submarket. The company broke ground on the 13-story building in August 2019, with completion expected in the first quarter of 2021.

The developments estimated costs amount to approximately $55 million. Houston-based Harvey Builders serves as general constructor, Kirksey as architect and Abel Design Group as the interior designer for the project, which will feature a podium-style office building with a parking garage. The owner is headquartered nearby, at 1220 Augusta Drive.

Earlier this year, a joint venture between Patrinely Group, USAA Real Estate and CDC Houston broke ground on a 440,000-square-foot office project in Spring. The built-to-suit project will serve as Hewlett Packard Enterprises newest campus. Upon completion, scheduled for the second quarter of 2022, the property will include two five-story office buildings, as well as 2,055 parking spots.

PNC Bank provided $109.2 million in construction financing. The owner selected Pickard Chilton as the design architect, while Kirksey served as the executive architect, REES as the interior designer and Harvey Builders as the general contractor. The upcoming campus sits on 12 acres at 1801 E. Mossy Oaks Road,within the 60-acre CityPlace master-planned community.

The second property on the list is Marathon Oils upcoming headquarters, a 445,000-square-foot development owned and financed by Sumitomo Mitsui Banking Corp. Hines broke ground on the 15-story asset in December 2019, with Kendall/Heaton Associates acting as the architect and Harvey Builders as the general contractor.

Located at 990 Town and Country Blvd., the project is scheduled for completion in the third quarter of 2021. Once delivered, Marathon Oil will relocate from 5555 San Felipe St. in the Uptown-Galleria area, where it has been operating for more than three decades.

In July 2018, Hines and Ivanhoe Cambridge teamed up to develop the 47-story Texas Toweralso known as T2in Houstons central business district. Scheduled for delivery in late 2021, the property will include 114,000 square feet of office space and 15,000 square feet of first-floor retail.New York Life Insurance Co. provided $317.5 million in construction financing.

The developersselected Pelli Clarke Pelli to spearhead design plans.Hines preleased some 180,000 square feet in the building for their new headquarters,alongside future tenants Vinson & Elkins and DLA Piper.

View post:
Top 5 Office Projects Under Construction in Houston - Commercial Property Executive