News
Nordic PCL to Build $500M M-U Project in Downtown Honolulu
Nordic PCL Construction Inc. has been appointed general contractor for the $500 million 690 Pohukaina mixed-use project in Honolulu, the Pacific Business News reports. Forest City Hawaii has also selected Benjamin Woo Architects LLC as part of the development team.
Dynamic Week for Houston M-F; McCann Realty Builds, HGI Sells
Two recent events stand out as further indicators of the strength of the metro Houston multifamily market; while McCann Realty broke ground on its newest community, the 323-unit Retreat at Vintage Park in the Champions submarket of Houston, Harbour Group International found a buyer for its 696-unit Fairfield Creek Apartment community.
Ryan Cos. Unveils Plans to Build $400M M-U Development Next to Planned Vikings Stadium
Twin Cities developer Ryan Cos. recently unveiled plans to build a $400 million mixed-use development adjacent to the planned new Vikings stadium in downtown Minneapolis.
$500M Mixed-Use Development Planned for Westlake
After several months of discussions and meetings with residents, the Westlake town council has approved Centurion American’s concept plan for a $500 million, mixed-use development.
Lubert-Adler Buys Huntington Point Apartments for $78M, Amasses $2B M-F Portfolio
Lubert-Adler, a real estate investment company based in Philadelphia, recently purchased the Huntington Point apartment complex in Alexandria, Virginia. With this, its latest acquisition, Lubert-Adler has amassed a multifamily portfolio valued at approximately $2 billion for its domestic institutional investors.
ULI Special Report: Micro-Size It
Can apartments be too small? Developers are testing the boundaries, experimenting with layout and design to determine just how tiny and inexpensive a space they can easily lease.
Vandenberg Air Force Base Military Housing Ends Six-Year Makeover Process
The housing component at Vandenberg Air Force Base has received a major boost as the initial development period has finally come to an end. A partnership between Balfour Beatty Communiites LLC and Hensel Phelps Construction Company handled the renovation and construction of new military housing units at the base. The total investment made during the six-year interval now stands at around $158 million. Balfour Beatty Communities currently deals with a range of residential projects including multifamily, military and student housing. With the initial development period now over, the developer and property manager has increased the number of units it handles at the Vandenberg AFB to almost 1000.
Coppin State University Breaks Ground on New Science and Technology Center
On Tuesday, May 14, Coppin State University hosted a formal groundbreaking for its new Science and Technology Center(STC). Lt. Governor Anthony Brown, Mayor Stephanie Rawlings-Blake, and other elected officials attended the ceremony.
IIT Buys 808 KSF Industrial Building in Mesa, Ariz.; Pays Cash
Industrial Income Trust, of Denver, a non-traded REIT, has purchased the 11-building, 808,400-square-foot Broadway 101 Commerce Park in Mesa, Ariz., for $77 million in a cash deal.
Student Art Plays Key Role in 100 Peachtree Restoration Strategy
Owner America’s Capital Partners has sought the help of a rather unusual group to assist in the $14 million restoration efforts and marketing strategy of the former Equitable Building in downtown Atlanta.