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Atheria-at-West-Grove-McKinney
DevelopmentMultifamilyTexas

Milhaus Begins Construction on 389-Unit Multifamily Project in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS — Milhaus, an Indianapolis-based multifamily owner-operator, has broken ground on Atheria at West Grove, a 389-unit multifamily project that will be located north of Dallas in McKinney. The site is located within the 52-acre West Grove master-planned development, and the property will offer one-, two- and three-bedroom apartments with covered balconies/patios. Atheria at West Grove will also feature two-bedroom townhomes with garages. Amenities will include a pool, clubhouse with a golf simulator, covered outdoor kitchen, grilling areas, a pet spa, office workspaces, a billiards and media room, indoor/outdoor fitness center and a one-acre park with pickleball courts, a dog park and an events lawn. Project partners include HEDK Architects, SJL Design Group, Studio Outside, Strategic Construction and engineering firm Winkelmann & Associates. InterBank is financing construction of the project. Leasing is slated to begin next spring.

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Kirby-District-Houston
DevelopmentIndustrialTexas

Stream Realty Partners Breaks Ground on 384,509 SF Industrial Project in South Houston

by Taylor Williams

HOUSTON — Stream Realty Partners has broken ground on a 384,509-square-foot industrial project that will be located near the intersection of the Sam Houston Tollway and State Highway 288 in South Houston. Known as Kirby District, the two-building development will consist of a 117,247-square-foot rear-load structure with 32-foot clear heights and a 267,262-square-foot cross-dock structure with 36-foot clear heights. Other building features will include a combined total of 101 dock-high doors and six ramps. Ware Malcomb is the project architect, and E.E. Reed Construction is serving as the general contractor. Halff is the civil engineer, and Stream is also the leasing agent. Completion is slated for the first quarter of next year.

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DevelopmentFloridaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Seritage Growth Signs 17 New Tenants at Esplanade at Aventura in Metro Miami

by John Nelson

AVENTURA, FLA. — Seritage Growth Properties, a REIT created by Sears Holdings in 2015, has signed leases with 17 new tenants at Esplanade at Aventura, its 215,000-square-foot mixed-use development located in the northeastern Miami suburb of Aventura. Retail and restaurant concepts including The Salty Donut, If So, Chip City and The Shade Store recently opened at the property, while Tremble, Bank of America and Hästens will open this summer. Pura Vida Miami, Salt & Straw, Starbucks Coffee, Wairua Beauty and Next Health are expected to open this fall. Additional stores that will be arriving later in the year include 7th Avenue, Lola + The Boys, The Keys Co. and Anatomy Fitness. Lastly, Feulard Aesthetic Lab plans to open in spring 2026. The new tenants will occupy approximately 55,000 square feet at the development. Completed in 2023 and located adjacent to Aventura Mall, Esplanade at Aventura features more than 40 retail, dining and entertainment options, including Pinstripes and The LEGO Store. The project also includes healthcare tenants like One Medical and CCRM Fertility, as well as coworking operator Industrious.

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DevelopmentIndustrialKentuckySoutheast

CRG, STAG Industrial Break Ground on 500,240 SF Facility in Shepherdsville, Kentucky

by John Nelson

SHEPHERDSVILLE, KY. — CRG and STAG Industrial have broken ground on Park Loop @ I-65, a 500,240-square-foot speculative industrial facility located at 650 Park Loop Road in Shepherdsville. The project is situated on a 42.5-acre site one mile east of I-65 and 20 miles south of Louisville, Ky. Park Loop @ I-65 will feature 40-foot clear heights, 96 dock doors, four drive-in doors, 185-foot-deep truck courts, ESFR sprinklers, LED lighting, trailer storage and parking for 310 vehicles. CRG and STAG Industrial plan to deliver the facility in early 2026. The developers have tapped Alex Grove and Doug Butcher of CBRE to market and lease the project. The design-build team includes Clayco (CRG’s parent company) and Lamar Johnson Collaborative.

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DevelopmentFloridaLoansRetailSoutheast

Ocean Bank Provides $54M Construction Loan for Whole Foods-Anchored Retail Project in Miami Beach

by John Nelson

MIAMI BEACH, FLA. — Ocean Bank has provided a $54 million construction loan for a retail development in Miami Beach. The borrower, 1901 Alton Property LLC, an affiliate of veteran developer Russell Galbut and his daughter Marisa Galbut, is developing a commercial building that will house a 40,883-square-foot Whole Foods Market, 4,000-square-foot Wells Fargo bank branch and 271 parking spaces. Jorge Hernandez of Ocean Bank originated the financing on behalf of the borrower, which has been doing business with Ocean Bank for 35 years. Details of the loan and the development timeline were not released.

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Affordable HousingDevelopmentGeorgiaMultifamilySoutheast

Partnership Opens Phase I, Begins Phase II of Affordable Housing Development in Decatur, Georgia

by John Nelson

DECATUR, GA. — A partnership between Decatur Housing and Preserving Affordable Housing Inc. (PAHI) has officially opened Phase I of Village at Legacy, an affordable housing development in the east Atlanta suburb of Decatur. The partnership also officially broke ground on Phase II. Leasing and move-in activity at Phase I of Village at Legacy is expected to begin in August, with construction on Phase II targeted for completion in spring 2026. Village at Legacy is situated on six acres within Legacy Park, a 77-acre site that once housed the United Methodist Children’s Home. The project represents the first ground-up affordable housing development in Decatur in decades. Phase I is a $27.9 million apartment community comprising 66 units, 40 of which Decatur Housing is supporting with project-based vouchers under its new Housing Assistance Payments (HAP) contract with HUD. The $21.5 million second phase will also comprise 66 units, 20 of which will have project-based vouchers. Decatur Housing was awarded Low Income Housing Tax Credits (LIHTC) by the Georgia Department of Community Affairs to support both phases of Village at Legacy. The City of Decatur and the Decatur Housing Authority are providing additional capital. Other capital partners include Hudson Housing Capital, Advantage …

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DevelopmentHealthcareTexas

AP Construction Underway on 10,500 SF Healthcare Project in Marble Falls, Texas

by Taylor Williams

MARBLE FALLS, TEXAS — Adolfson & Peterson Construction is underway on a 10,500-square-foot healthcare project in the downtown area of Marble Falls, about 50 miles northwest of Austin. Designed by Seaux-Pierce Architecture, the two-building project is a build-to-suit for Heritage Oaks Dental Office and will include a 1,300-square-foot of oral surgery space. Completion is slated for the fall.

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DevelopmentLoansMultifamilyNew JerseyNortheastSeniors Housing

MRC, Pearlmark Provide $140M in Financing for Active Adult Project in Cherry Hill, New Jersey

by Taylor Williams

CHERRY HILL, N.J. — New York City-based Madison Realty Capital (MRC) and Chicago-based Pearlmark have provided $140 million in financing for the The Plaza Grande, a 507-unit active adult project located outside of Philadelphia in Cherry Hill. Units are reserved for renters age 55 and above. Amenities include an 18,500-square-foot clubhouse, golf simulator, indoor and outdoor pools, tennis and pickleball courts, a theater, sauna and massage rooms and lounge areas. The borrower, New Jersey-based Procida Funding & Advisors, will use the debt to complete construction and fund lease-up costs.

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Mosaic-South-Orange-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

Mark Built Homes Completes 42-Unit Multifamily Project in South Orange, New Jersey

by Taylor Williams

SOUTH ORANGE, N.J. — New Jersey-based developer Mark Built Homes has completed Mosaic South Orange, a 42-unit multifamily project located about 20 miles west of New York City. Units come in one-, two- and three-bedroom floor plans and range in size from 790 to 1,665 square feet. Residences are furnished with quartz countertops, custom cabinetry, full-size washers and dryers and smart technology, and select residences have private balconies and patios. Amenities include a rooftop deck and clubroom with lounge seating, a fitness center, coworking lounge and indoor and outdoor social spaces. Rents start at $2,995 per month for a one-bedroom apartment.

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DevelopmentIllinoisMidwestRetail

Chicago Fire FC Releases Renderings for $650M Downtown Stadium

by Kristin Harlow

CHICAGO — Chicago Fire FC has released renderings and further details for its $650 million soccer-specific stadium in downtown Chicago. The development, announced earlier this month, will be privately financed by the club’s owner and chairman, Joe Mansueto. The stadium will anchor The 78, Related Midwest’s 62-acre project located along the Chicago River just south of Roosevelt Road. Designed by Gensler in “Chicago School” fashion, the new stadium will seat approximately 22,000 fans. The bowl is designed to prioritize the match viewing experience with seating positions that are lower and closer to the action. There will be 50 suites, more than 500 Loge seats and 3,500 Club seats. An exposed steel canopy over the seating bowl will direct light and crowd noise back to the pitch, creating an environment that enhances the Fire’s home-field advantage. A dedicated supporter section will be built at the core of the stadium for the most passionate fans. The section is purpose-built to be loud with room for approximately 2,000 fans on safe-standing bleachers. In addition to Fire matches, the stadium can host a variety of other sports and entertainment events such as international soccer matches, rugby matches, concerts, festivals, live performances, charity events, trade …

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