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.”
The New York Governor Andrew Cuomo has approved the recommendation of the US Army Corps of Engineers for the construction of four temporary hospitals in New York State to treat the increasing number of patients of COVID-19 outbreak.
Balfour Beatty Campus Solutions has secured financing to build a mixed-use student housing project at Bowie State University (BSU) in Maryland, US.
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.
Stockton University and the Atlantic City Development have unveiled plans to construct a new student Residence Hall at Stockton University Atlantic City, US.
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.
Hilton, a US-based hospitality company, has broken ground on its new Tempo by Hilton hotel in Louisville, Kentucky.
Taste and nutrition company Kerry Group has announced plans to invest $125m to expand its food manufacturing facility in Rome, Georgia 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.
Washington University in St. Louis is all set to break ground this month on a new neuroscience research building at on the School of Medical campus, in St. Louis, Missouri.
The St. Joe Company, a US-based real estate developer, has broken ground on Watersound Camp Creek, a new residential community in Watersound, Florida.
The Collective, a UK-based a co-living company, has secured $75m in financing from ACRES Capital for the construction of 292 North 8th Street (North 8th), a student housing development in New York, US.
The National Aeronautics and Space Administration (NASA) has broken ground on new Aerospace Communications Facility (ACF) at its Glenn Research Center in Cleveland, US.
Indiana University (IU) has broken ground on the new Stephen L. and Connie J. Ferguson International Center in Bloomington, Indiana.
Mill Creek Residential has broken ground on Modera Flagler Village, a luxury high-rise apartment community located in Florida, US.
Meriwether Companies and Big Sky Wave Developments have unveiled plans to build Coral Mountain, a resort community in California, US.
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.