Development
Forest City to Develop Mixed-Use in Dallas
Forest City Enterprises Inc. has big plans for the Dallas suburb of Frisco. The real estate company, acting through its Forest City Commercial Development subsidiary, has entered into a memorandum of understanding with the city and the Frisco Community Development Corp. to create Frisco North, a 320-acre mixed-use development that will sprout up in phases over an undetermined number of years.
Simon to Build First Premium Outlets in Arizona
Arizona’s very first Premium Outlets shopping center is in the works now that Simon Property Group Inc. has forged an agreement with the Gila River Indian Community’s Wild Horse Pass Development Authority. The REIT is building based on location, not demand, as the average vacancy rate in metro Phoenix is 12.4 percent.
ULI Report: Office Developers Shy Away from Spec Developments
Office-development experts agreed that in-place assets are preferable to speculative development.
UC Davis Near Completion on First Phase of Massive Zero Net Energy Community
Work is nearly complete on the first phase of UC Davis West Village, which the university is calling the “largest planned zero net energy community,” in the country. That means that the property will ultimately generate at least as much, and possible more power than it consumes.
Record-Breaking Army Land Exchange Advances Bay Area Development
With the signing of the largest-ever Reserve Property Exchange Agreement, the U.S. Army paved the way for SunCal Co.’s development of a master-planned community, Dublin Crossing, on 180 acres at Camp Parks Reserve Forces Training Area in Dublin, Calif. In return for the land, SunCal will build 152,300 square feet of new buildings for the military.
Barnett Joins Colliers as Senior Vice President
Richard Barnett will lead the healthcare and life sciences practice in the firm’s development and consulting services group.
Lend Lease to Build for 7-Eleven
The retail chain plans to boost its profile by at least 500 stores this year via individual store capital leases, business conversions and acquisitions.
Water Levels Delay $347M Casino
Pinnacle Entertainment Inc. was on schedule to complete development of the Baton Rouge, La., project, but low Mississippi River water levels have forced the company to push back the gaming property’s debut to the first quarter of 2012.
OliverMcMillan Restarts Project
There will be an investment of $300 million to bring The Streets of Buckhead to life. The mixed-use project will ultimately consist of an array of luxury commercial and residential components spanning six blocks in the tony neighborhood.
Eyeing Healthcare Growth, Lend Lease Acquires DASCO
Company executives are counting on the merger to provide a one-stop shop for the burgeoning medical facilities industry.