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Development news – page 21
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Energy Shocks and Occupier ImpactPlenty has been written about how energy price shocks and oil scarcity are impacting commercial real estate. Higher oil prices are impacting everything from CRE asset valuations to construction to overall macroeconomics (including inflation).
Developer Lands $134M to Build Fourth Apartment Tower Near Miami Metrorail13th Floor Investments announced Thursday it has secured a $134 million construction loan to finance the development of a fourth residential tower at Link at Douglas, a transit-oriented project in Miami. Santander Bank led the construction financing.
Rosewood Delivers Final Phase of 956-Unit San Antonio Apartment CommunityRosewood Property Company is now leasing the third phase of The Tobin Estate Apartments, completing a project that totaled 956 unit across 44 acres. The project was launched in 2016.
Microsoft Breaks Ground on Long-Planned North San Jose Data Center SiteNearly a decade after acquiring the site, Microsoft has broken ground on a 48-megawatt data center in north San Jose to support growing demand for cloud services and AI.
Representative imageNew York City Is Leading the U.S. in Apartment Construction. Yes, Really.Talk about a counter narrative. While New York City’s apartment vacancy rate is still below 2 percent, according to an April report from brokerage Corcoran, and the metropolis remains a notoriously expensive place to build, there has been quite a bit of progress lately in…
Riverside Investment & Development Breaks Ground on West Loop Multifamily DevelopmentRiverside Investment & Development Company and its partners recently celebrated the groundbreaking of 566 West Van Buren, a new 12-story, 199-unit multifamily development in Chicago’s West Loop neighborhood.
Data Center Developer to Unveil Plans to Bastrop County ResidentsBastrop County residents and stakeholders will be given the opportunity to ask questions about three planned Cedar Creek data center campuses spanning nearly 1,500 acres. Construction on one center is underway. Two are in the planning stages.
Representative imageLifeCare Development Underway on 117-Unit Seniors Housing Project in College StationCOLLEGE STATION, TEXAS — LifeCare Development is underway on construction of a 117-unit seniors housing project in College Station.
Representative imageHankin Group Breaks Ground on 72-Unit Multifamily Project in Exton, PennsylvaniaEXTON, PA. — Locally based developer Hankin Group has broken ground on a 72-unit multifamily project in Exton, about 35 miles west of Philadelphia. The project is an expansion of Keva Flats, a development that currently consists of 266 units on a 19-acre site.
Suffolk Unveils AI-Enabled “Jobsite of the Future” Operating ModelBoston-based construction management firm on Tuesday launched Jobsite of the Future, which the company described as a first-of-its-kind AI-enabled operating model designed to transform how construction projects are delivered nationwide.
Authority Brands Chooses Cobb County County for New HQAuthority Brands plans to build a nearly 50,000-square-foot “Franchise Success Center” in Cobb County. The company will spend $13 million on its new headquarters, which will include 390 workers.
Nutter Taps Elkus Manfredi to Design Seaport District Headquarters SpaceNational law firm Nutter has engaged Elkus Manfredi Architects to develop a strategic workplace plan and the firm’s 100,000-square-foot headquarters at 155 Seaport Blvd. in Boston’s Seaport District.
Krusinski Construction Selected for Chicago Tenant Improvement ProjectKrusinski Construction Company (KCC) has been selected by Dayton Street Partners to complete a tenant improvement project for an automotive and clean energy company. The Loomis facility will support a new electric-vehicle repair facility in Chicago.
Craig International Helming $200M McKinney Office RedevelopmentCraig International won the bid to redevelop the former Globe Life corporate headquarters locaed at 3700 S. Stonebridge Drive in McKinney, TX.
$250M Astin Martin Condo Project Greenlit in Daytona BeachAston Martin is partnering with Valor Capital Real Estate Development to build an 18-story, 86-unit condo project at 3411 S. Atlantic Ave. It will be called Aston Martin Residences Daytona Beach Shores.
Skanska Completes 250,000 SF Academic Project at University of Texas at TylerTYLER, TEXAS — International development and construction company Skanska has completed a 250,000-square-foot academic project in Tyler, about 100 miles east of Dallas.
Asana Starts Transformation of Former Duke Energy HQAsana Partners, MRP Realty and Rockefeller Group completed the necessary demolition of the former Duke Energy facility. Headquarters at 526 S. Church St. and are now ready to start work on its conversion to multifamily and retail uses.
Sunbeam, Stiles Begin Construction on $1B Waterfront Mixed-Use Development in Broward CountyMIRAMAR, FLA. — Private real estate development and management company Sunbeam and Fort Lauderdale-based developer Stiles have broken ground on Miramar Cove, a $1 billion, waterfront mixed-use development in Miramar, a city in South Florida’s Broward County.
Representative imageRockefeller, Matan Break Ground on 1 MSF Distribution Center at Port 460 in Suffolk, VirginiaSUFFOLK, VA. — Rockefeller Group and Matan Cos. have broken ground on Building 3 at Port 460 Logistics Center, an industrial development that will comprise 5 million square feet in Suffolk, approximately 20 miles southwest of Norfolk with direct access to the Port of Virginia.
Representative imageData Centers Are Plugging a Big Hole in the U.S. Construction IndustryMore apartment buildings might make housing more affordable. Fair enough. The U.S. construction industry, though, is building shelter much faster for robots and other AI-driven technology than for tenants.