The Michaels Organization, a residential real estate firm, has secured financing to build the third phase of Jordan Downs redevelopment in California, US.
Real estate firm Hines and its joint venture partner Pederson Group announced that they have closed on the land for the development of 325-unit luxury residential property in north Phoenix, Arizona.Located at the northwest corner of Happy Valley Road and 35th Avenue, the multifamily property include six, threeo-storey buildings. An additional one-storey building will include a cloubhouse and a fitness amenity surrounding a pool. In total, Hines plans to develop 318,000ft² of space.The apartment property is expected to include 161 one-bedroom, 140 two-bedroom and 24 three-bedroom apartments. While rent prices have not been confirmed yet, the joint venture partners plan to begin construction of the property in the fourth quarter of this year. The announcement from Hines comes at a time when it has broken ground on Adeline, its first luxury for-rent property in Phoenix. Adeline will be a 25-story, 379-unit high-rise community at the Collier Center in downtown Phoenix.Hines managing director Robert Trujillo said: “Hines jumped at the opportunity to work with our partners on this project on Happy Valley Road. Our luxury multifamily project is positioned well to meet the expanding need for suburban luxury multifamily options in the submarket.” This property of Hines is part of a larger commercial development by Pederson Group which owns the adjacent 167,000ft² Stetson Village shopping center and has plans to develop seven acres of a mix of retail services directly in front of Hines’ multifamily development on Happy Valley Road.Pederson Group CEO Jim Pederson said: “The Pederson Group acquired the 23-acre site from the Arizona State Land Trust. “We sought a quality multifamily developer to partner with us to create a fine mixed-use project. We’re thrilled to work with Hines.”
US-based real estate firm Hines along with Oaktree Capital Management, an asset management firm, has acquired a 75-acre site in Glendale, Arizona to construct an industrial complex.
Walker & Dunlop, a US-based real estate finance company, has arranged $51.9m financing for ECLIPSE at CityCentre, a multifamily project in Huntsville, Alabama of the US.
The University of South Florida has broken ground on its newest facility at its Research Park located at the gateway to Tampa campus.
US-based real estate developer RedLeaf Properties has signed a master development agreement (MDA) with the City of Cedar Park, Texas in the US for the $350m Bell Boulevard Redevelopment Project.
Hines, a US-based real estate firm, along with its partner Cresset-Diversified QOZ Fund have started construction on The Mercantile, a mixed-use project located downtown Omaha, Nebraska.
The St. Joe Company, a US-based real estate developer, has announced its plans to build a mixed-use shopping centre with additional leasable commercial space in Watersound, Florida.
Stream Realty Partners (Stream), a real estate company, is set to develop a new 500,000ft² mixed-used project, known as The Quad, in uptown Dallas, Texas.
The Texas A&M University System is planning to invest $546m in Texas Medical Center in Houston to house its Engineering Medicine (EnMed) programme and provide housing for medical and nursing students.
New York Governor Andrew Cuomo has broken ground on the $44m Nexus Center, a recreation and sporting complex in downtown Utica.
GK Real Estate, a US-based real estate developer, has secured $29m loan from Praxis Capital Group for the construction of The DeMarcay, a luxury residential condominium project, located in downtown Sarasota, Florida.
Admares, a real estate developer using marine, offshore, land and modular construction techniques, has partnered with Porsche Consulting for the construction of a new commercial property in Brooklyn, New York City.
Real estate investment firm Patrinely Group, in a joint venture with USAA Real Estate and CDC Houston, has broken ground on Hewlett Packard Enterprise's (HPE) new campus in CityPlace located at Springwoods Village, a 2,000-acre master-planned community in Texas, US.
Range Developments has begun construction of first-ever Six Senses resort on the island of Grenada in the Caribbean.
Brookfield Properties and Skanska USA have announced the topping out of the office tower at the Fifth + Broadway, a mixed-use project located in Nashville, Tennessee.
The University of Hawai’i (UH) in Mānoa, US has announced plans to build a $110m on-campus housing project for UH Mānoa graduate students and faculty members.
Virginia Alcoholic Beverage Control Authority (ABC) and Virginia Department of General Services (DGS) have broken ground on ABC’s new administrative headquarters in Hanover, Virginia.
US-based real estate firm Crescent Communities along with Starwood Capital Group has announced plans to commence construction on NOVEL Edgehill, a new mixed-use multifamily community in Tennessee, US.
Westdale Real Estate Investment and Management (Westdale), Ivanhoé Cambridge and Hines have broken ground on The Stack, a mixed-use building to be located on Commerce Street, Dallas, Texas.