National
Hayden to Convert Top Floors of Millennium Center to Apartments
Downtown St. Louis’ first glass-walled office tower, the Millennium Center, has been acquired by developer Brian Hayden who intends to move the existing tenants to lower floors and renovate the higher floors as apartments
Austin Lawrence to Develop $40M Mixed-Used Tower in Durham’s Historic District
The Historic Preservation Commission has approved the construction of a 26-story mixed-use building in the heart of downtown Durham. According to the NewsObserver, the proposed “City Center” high-rise will include 25,000 square feet of ground floor retail; 70,000 square feet of offices; and 133 luxury apartments on the upper 21 floors.
Austin Lawrence Partners of Colorado is developing the project, which will be located inside the city’s historic central business district, at the former Woolworth’s site between Parrish and Main streets. Last November, the company purchased the site, along with four adjacent buildings which will be incorporated in the new development. Greenfire Development sold the properties for $3 million.
Work on $30M Class A Office Building in Midtown to Begin in August
In an effort to add more high-end office space in Detroit’s brisk Financial District, locally-based Queen Lillian Development LLC will kick-start in August a new Class A commercial facility that’s being marketed as the Midtown Professional Building.
Level Homes Launches National Expansion in the Triangle
In its first foray outside Louisiana, Baton Rouge-based Level Homes is planning to develop three communities totaling 230 single-family homes in Apex, Cary and Durham. According to the Triangle Business Journal, the company has recently opened a new regional office in downtown Raleigh to market its expansion.
In Apex, Level Homes is developing the Ellington Place community comprised of 52 home lots. The company acquired the 14-acre site in October for $2.04 million and plans to open a model home here this April, which would be the Triangle’s first. Prices are expected to start at $250,000s.
115 Sansome Street Building Acquired by Harvest Properties, Set for Conversion to Creative Space
Harvest Properties will now carry out extensive renovations that will strip the building of its existing, more traditional tenant improvements. The company will then work with architecture firm Hooks ASD and contractor RN Field to highlight the building’s strong suites through new creative office space. The new owner is betting that such a property in a location like San Francisco’s North Financial District would be a welcome alternative to Class A office space or commodity space.
New Convention Hotel Project Eyed for Seattle’s Downtown
With an opening tentatively set for 2017, the project would feature a six-story podium that will also contain around 40,000 square feet of retail space, the hotel’s lobby and an affordable housing component. The project aims to fill a void of new convention and meeting space, as the developer claims that around 100 conventions backed out of Seattle due to a lack of openings. The property would cash in on that existing demand and provide a space that would also boost the area’s hospitality stats to boot.
Thistledown Racino to Open on April 9
More gambling is coming to the Greater Cleveland area as Ohio is getting ready to welcome its second ”racino”. Rock Ohio Caesars’ ThistleDown Racino will celebrate its grand opening on April 9, in North Randall. American Idol winner and Las Vegas headliner Taylor Hicks will kick off the festivities with exclusive concerts.
PECo to Buy Dayton Facility, Bring 250 Jobs to the City
The Process Equipment Company (“PECo”) has announced on April 1 its plans to purchase a 425,000 square foot manufacturing facility at 2333 McCall Street, near downtown Dayton. The acquisition is part of the Tipp City-based company’s plan to consolidate and expand its local operations.
$95M Terminal B Redevelopment Nearly Complete; Tenant Line-Up Revealed
United Airlines has recently unveiled the dining and retail line-up soon to be featured at the new Terminal B south concourse at Houston’s George Bush Intercontinental Airport.
Eli Lilly Plans $180M Expansion of Insulin Cartridge Plant in Indianapolis
Locally based pharmaceutical giant Eli Lilly and Co. is considering an additional $180 million investment in its Indianapolis-based insulin manufacturing operations.
Plans call for an 84,000-square-foot expansion of the company’s $140 million plant currently under construction in the southwest area of downtown Indianapolis. The new facility will increase the company’s insulin-active-ingredient manufacturing capacity and create a second insulin-cartridge-filling line. The production area is expected to become operational in March 2014, while construction on the insulin-cartridge-filling line would be complete by 2016.