A $1.2bn mixed-use project proposal, including a 480ft tall SkySpire observation tower, has been selected by San Diego Port Authority Commission for downtown San Diego Waterfront.The project, proposed by ThrillCorp and designed by AVRP/Skyport Studios, will be part of the transformation of 70 acres of prime downtown San Diego waterfront.The SkySpire will feature gondolas that spiral around the tower as they transport guests to a top level interactive observation experience — to be designed in partnership with the Smithsonian Media.In addition, the redevelopment proposal includes an aquarium, Bayfront beaches, hotels, marinas, retail outlets, dining establishments and other entertainment.ThrillCorp’s CEO David Gust said: "We have a great set of patented products, a terrific team and a solid business plan. Selection of our team and our product in San Diego adds tremendous value potential to the company."It places our observation product in an absolute trophy location. We are on a mission to create the most unique entertainment experiences in the world and this another step along that path."The final review of the proposal is expected to be complete by October, after which the development process will begin immediately.
Grand River Development, managed by Riant Capital, has unveiled plans for a $1.1bn mixed-use commercial tower in Taipei, Taiwan. The Taipei Sky Tower will be located adjacent to Taipei 101 in Taipei’s prime Xinyi District and will feature a retail podium, a luxury hotel, a lifestyle hotel and a theatre house. The 54-storey tower will measure more than 260m in height and include 93,000sq m in combined floor area. Riant Capital’s CEO Aaron Chan said: “Due to the unique location and street front exposure of the site, we are able to re-create a new whole pedestrian block comprising independently operated retail and F&B flagship/concept stores that one typically finds in major international cities such as New York, Tokyo or Hong Kong. “We believe that this pedestrian shopping experience will offer consumers an attractive alternative to the traditional department store concept and that our innovative approach will further enhance Taipei Xinyi District’s status as a premium business and retail centre in Asia.”
Abu Dhabi-based developer Aldar Properties has awarded contracts worth AED440M ($120M) to National Projects and Construction (NPC) for its Nareel Island and Al Merief communities in Abu Dhabi.Nareel Island is located on the coast in Al Bateen and is spread over two islands. It will include 148 villa plots, a lagoon, a marina, a clubhouse, open parks, private beaches, as well as pontoons and gardens. The earthworks and marine works tender packages have been awarded in October 2015. Reclamation work for the lagoon has also started, and dredging work on the southern island is complete.Al Merief project is located in Khalifa City and features 283 land plots. The villas will be located within recreational facilities and sheltered gardens, in close proximity to the community's parks, mosques, an Aldar Academies-operated school, and neighbourhood retail centre. The development’s conceptual and preliminary designs were completed in 2015.Aldar Properties’ chief development officer Talal Al Dhiyebi said: "As one of the most exclusive developments in the region, Nareel Island truly brings a new level of luxury to Abu Dhabi. Meanwhile, Al Merief is set to become a welcoming, impressive new address to a burgeoning area of the capital.“With the appointment of NPC, we are on track for the completion of both developments in 2017."Work on both projects is expected to be delivered over a 16 month-period.
Dubai South has awarded AED1bn ($272M) contracts for project developments in Dubai’s Residential District.Dubai South’s Residential District will feature 10,000 residential units, including villas, townhouses and apartments, accommodating about 35,000 residents. It will also include schools, nurseries, hospitals, retail outlets, food and beverage options, a post office, a swimming academy and a sports centre.Atkins Global, Studio International Architects and RNL Design have been selected to supervise the masterplan and product design for the mixed-use project, which will be delivered in phases. UAE-based Al Nasr is currently working on the first section of the District’s infrastructure, which will be completed by the fourth quarter of 2016. The company has also secured a contract for the construction of infrastructure in Dubai South’s Logistics District.Tristar Engineering & Construction has secured an infrastructure construction contract for the remaining areas of the first phase — scheduled to be complete by the fourth quarter of 2017.Parsons and Kele Constructions have also been awarded a contract to build the first phase of Sakany Staff Village, which will accommodate 20,000 residents by 2020.Additionally, UAE-based City Diamond Contracting has won a contract to build a multi-purpose aerospace supply chain facility in Dubai South’s Aviation District.Ahmed Al Ansari, Dubai South’s acting CEO, said: "We, at Dubai South, are excited to be working with the leading companies in the construction industry to help create a solid foundation for the future of Dubai South residents."This entirely new and incomparable model of urban living puts people first, while celebrating nature and diverse populations, which come together to form a thriving and healthy community."
UK-based property and construction consultancy Gleeds has been selected as project and cost manager on Formal Investments’ £75M commercial redevelopment in Glasgow, Scotland.The proposed development will include a 12-storey new building, incorporating 12,000sq m of Grade A office space on Bath Street, as well as the remodelling and refurbishment of a second building, formerly home to retailer BHS.Furthermore, a third premises located on Sauchiehall Street will be refurbished to include a total area of 22,000sq m.The former BHS site will be knocked down to make way for the new building, with the remaining construction set to include about 7,000sq m of office space above the existing retail offering. Under the contract, Gleeds will provide assistance in appointing additional consultants and managing the entire programme of works, once planning permissions for the project have been received.Gleeds’ director for Glasgow Brian Stevenson said: “I am delighted to be working with Formal Investments on yet another large-scale city centre development.“This scheme has the potential to completely transform both the commercial and public realms of this part of Glasgow and represents a fantastic opportunity for business across the board.”Subject to necessary approvals, work is anticipated to commence in mid-2017.
Construction firm Brookfield Multiplex has been appointed as the contractor by AMP Capital for the $600M Karrinyup Shopping Centre redevelopment in Perth, Western Australia.When completed, the project will offer space for large international and fashion retailers, food and entertainment venues and 150 housing units, in addition to the current retail offer.Karrinyup Shopping Centre is managed by AMP Capital Shopping Centres on behalf of its owner, UniSuper.AMP Capital shopping centres state development manager Scott Nugent said: “The redevelopment of Karrinyup will see the centre expand from 59,715sq m to 113,000sq m, and will surpass all other retail precincts previously delivered in Perth for its range of shops, lifestyle and entertainment options.”Brookfield Multiplex’s CEO John Flecker said: “We are excited to deliver the next phase of Karrinyup, which will reposition it to provide customers with an unprecedented retail and entertainment experience. AMP Capital has been investing in Western Australia since the late 1800s, and we look forward to investing further in the state.” The project will create 2,500 construction jobs and additional 2,500 jobs once completed.
Design and consulting firm Arup has announced the start of construction on the Long Beach Civic Center in California.The new $520M project will include a 25,000sq m City Hall, a 22,000sq m port headquarters, a 9,000sq m main library, underground parking for 469 vehicles, a 7,000sq m civic plaza, and a revamped 4.9-acre Lincoln Park.Plans also include modern residential, retail, and hotel facilities on the current City Hall’s site.Mayor Robert Garcia said: "The new Civic Center will strengthen the connection between City Hall and the community, help revitalize the Downtown core, and generate thousands of jobs.” Arup has been acting as the city's lead advisor on the project since 2013 and has provided comprehensive services integrating financial, commercial, real estate, engineering, and cost consulting while assisting the city with the P3 procurement through the current detailed design and construction phase.The company was able to reduce the planning, entitlement, and procurement process to two years, down from the traditional three-to-five-year period.The project is scheduled to be complete in 2019.
Fujairah National Construction (FNC) has won an AED700M ($191M) contract from Mag 5 Property Development (MAG 5 PD) joint venture for a housing community project in Dubai South. The MAG 5 Boulevard development will include 1,172 residential units, retail space, and food and beverage, leisure and entertainment amenities.The 74,000sq m project, located within Dubai South’s residential area ‘The Village’ and adjacent to the Expo 2010 site and Dubai Parks, will be surrounded by running and cycling tracks, playgrounds, and community and retail centres. Talal Moafaq Al Gaddah, MAG 5 PD’s chief executive, said: “FNC has an enviable portfolio for the delivery of premium real estate developments in the UAE. “We are confident in their ability to bring MAG 5 Boulevard to the market within two years and in doing so, create the ultimate quality affordable living in one of the city’s most sought-after locations, Dubai South.”The project is set to break ground this month.
US-based developer Next Century Partners has received $1bn in construction financing for its Century Plaza Hotel redevelopment in Los Angeles, California.The project secured a $446M senior loan from a consortium led by J.P. Morgan Chase, $120M of mezzanine financing from an investment vehicle managed by Colony Capital and $450M of EB-5 financing provided by CMB Export LLC Regional Center.The $2.5bn mixed-use development will feature two 46-storey luxury residential towers, restaurants, retail shops and a new five-star 400-room hotel.The project is expected to commence later this summer and create more than 12,300 construction and permanent jobs.
Specialist regeneration and development firm Urbo has submitted plans for a £175M mixed-use development project at West Bar, Sheffield.The West Bar Square project comprises 10 buildings, each with self-contained parking.The scheme, fronting Sheffield’s inner relief road, will create up to 130,000sq m of space, most of which will be office space.The application also includes plans for apartments blocks, a four-star hotel, restaurants, retail units and public spaces.The project presents a significant step forward in the regeneration of Sheffield’s Riverside Business District, which already contains major employers such as the Home Office and lawyers Irwin Mitchell.Peter Swallow, Urbo’s managing director, said: “We’re delighted to move West Bar Square to the next level. It is a very significant development for the city and will create a premier business district to attract major employers.“There has also been strong interest in private rented sector apartments with many investment funds eager to house people in a purpose-built environment.”Site assembly and clearance is already underway to enable the earliest possible start on site, subject to planning approval.
Madison’s City Council has given the go-ahead to the $170M Judge Doyle Square project in downtown Madison, USA.The redevelopment will cover two downtown blocks that currently house the Madison Municipal Building and the Government East parking garage.The project plans by Beitler Real Estate Services include construction of 354 apartments, retail and office space, and a parking facility. Work will also involve construction of a hotel with 250 rooms.The project is subject to various approvals, such as land use considerations.The project faced many set backs through the years. This started with biotechnology firm Exact Sciences scrapping plans for Judge Doyle Square headquarters. Later, the city received two updated proposals for the Judge Doyle Square project from Beitler Real Estate Services Joint Venture and Vermilion Enterprises, with Beitler finally being selected.Construction on the project is expected to commence in 2017.
Carillion has secured a contract to build the first building of Birmingham’s transformational Paradise Scheme.The UK-based company is the phase one enabling and infrastructure contractor for the £500M mixed-use project, and has now been named as the contractor for the seven-storey contemporary building. The 16,000sq m ‘One Chamberlain Square’ will include a roof terrace on the sixth floor and restaurants and retail units on the ground level. Simon Dingle, Carillion’s operations director, said: “Paradise is a crucial project for the city and Carillion is very proud to be playing such a major role in its delivery. “We are looking forward to completing the enabling works on the site and being able to bring our considerable experience to construct One Chamberlain Square.”The Paradise scheme will involve the development of commercial, civic, retail, leisure and hotel space, as well as improving pedestrian access and enhancing public realm.The project is being developed through Paradise Circus Limited Partnership (PCLP) — a private-public joint venture with Birmingham City Council.
Dubai-based Najibi Group has announced an AUD400M ($297M) ‘active lifestyle’ theme park in Australia.The development will include a ‘Wave Reservoir’, waterpark and extreme water sports facilities, an Olympic standard training centre, a 4-star hotel, a conference and exhibition centre, restaurants and retail outlets. Najibi’s executive chairman Talal Najibi said: "This project marks a major milestone in Najibi's strategy to diversify its interests and investments."We feel this is the right time to invest in Australia. The Sunshine Coast, Queensland is rife with opportunities, and we are confident that this project will be extremely successful."Construction on the project is scheduled to commence in 2017, and will create 2,000 direct and indirect jobs during its construction period.
Leighton Asia’s subsidiary Leighton India Contractors has signed an AUD223M ($169.5M) contract to deliver phases two and three of a mixed-use development in Mumbai, India.The development, known as Maker Maxity, is located in the Bandra Kurla Complex, and its phases two and three will include the development of retail and hospitality facilities.The scope of the work includes structural and civil works, mechanical, electrical and plumbing services, lifts and escalators, façade, finishes and external works for the facilities.Leighton Asia’s managing director Manuel Alvarez Munoz said: "We are delighted to have secured our first major project with the Maker Group, one of India's most prestigious developers."Leighton Asia will bring its international experience, wealth of local knowledge and commitment to safety and quality to facilitate the timely completion of this major project."Work has commenced in June 2016, and is scheduled to be complete in mid‐2019.
The Cordish Companies has unveiled plans for a $200M expansion project at its Maryland Live! Casino property in Hanover, Maryland.The project, to be located next to Maryland Live! Casino at Arundel Mills, will include a 17-storey Live! Hotel tower with 310 luxury guest rooms. The development will add an additional 33,000sq m of space to the gaming facility and will also involve the construction of an event centre, meeting spaces, new dining options, and a day spa/salon.Tutor Perini Building Corp. will serve as the general contractor in the project.Cordish Global Gaming Group president Robert Norton said: "Maryland Live! Casino is the premier gaming, entertainment and retail destination serving the heart of the Baltimore/Washington population."The addition of our flagship Live! Hotel is just the latest investment we are making to ensure Maryland Live! continues to be the preferred choice for visitors seeking a world-class gaming and entertainment experience."Construction work is set to start in late 2016 with its completion slated for the fourth quarter of 2017. The project is expected to create about 400 new jobs and 550 construction jobs in the region.
Broadbridge LA joint venture has secured a $164.5M loan from Jamestown to redevelop the 102,000sq m Broadway Trade Center in downtown Los Angeles, California.The loan will be used to support the eight-storey building’s extensive refurbishment, which is currently in progress. Plans will also include a food marketplace, bars and restaurants, retail space, a hotel, a rooftop park and flexible office space with large floorplates.Jamestown’s president Michael Phillips said: “The Broadway Corridor is poised to make a comeback as the urban heart of Los Angeles, and we’re pleased that we can assist as a lender on this transformative redevelopment project.“We are committed to investing our resources in projects that transform spaces into true destinations through innovative mixed-use components, and we’re confident in the future of the Broadway Trade Center and the surrounding neighbourhood.”
Finnish construction company YIT has announced that the Mall of Tripla project in Helsinki secured a €300M financial package.The financial package will be provided by a group of banks, including the European Investment Bank (EIB), the Nordic Investment Bank (NIB), Danske Bank and Handelsbanken.The €600M shopping mall is set to become the largest shopping centre in Finland in terms of the number of retail spaces.It will have 85,000sq m of leasable floor area for a total of 250 tenants, and a car park with 2,300 spaces. The development will feature new solutions for recycling, water treatment and waste processing, allowing the constructors to apply for a Platinum-level LEED certification. The project is expected to be completed in late 2019.
Whaha Capital subsidiary Waha Land has signed an AED426M ($116M) financial deal with Emirates Islamic Bank for Stage 2 of its Almarkaz light industrial real estate project in the United Arab Emirates.The 1.5sq km development is located 25km south of Abu Dhabi city. Stage 2 of the project, to be built in two packages, will include an additional 187,000sq m of premium industrial and logistics facilities, as well as retail and commercial amenities.Package 2a, to be delivered by Ali & Sons Contracting L.L.C, consists of 92,500sq m of industrial and logistics facilities, and retail and commercial amenities. The first buildings will be available for occupancy in June 2017, while the entire package is expected to be complete by the fourth quarter of 2017.Further development will include flexible industrial building sizes, fitted industrial units, warehouse and storage facilities, commercial offices and food beverage outlets.Hazem Saeed Al Nowais, Waha Land’s chief executive officer, said: “Almarkaz has proven extremely popular because of the quality of the facility, and its excellent location as a hub in transport infrastructure.“This success has enabled the project to achieve attractive financing. Building on the success of Stage 1, we are moving ahead with our planned development, which aims to meet the needs of the Abu Dhabi manufacturing and logistics market in addition to SME’s.” Almarkaz’s Stage 1 comprises 90,000sq m of industrial and logistic units, which are already fully leased.
Oxfordshire’s Vale of White Horse Planning Committee has approved Mace’s planning application to redevelop the former West Way shopping centre in Botley, Oxford, UK.The project, called West Way Place, is set to become a mixed-use retail centre, which will include 140 new homes, a 122-bed Premier Inn, 321 car parking spaces and a 1,325sq m Co-Op store.The development will also involve the construction of 262 university-related student rooms, a new Baptist church, and a new community centre incorporating a public library.Mace’s development director Huw Griffiths said: ‘The West Way Place planning consent is a genuinely community-led proposal shaped by an eight month public consultation which included four meetings of a Community Liaison Group, a series of Community Workshops and a public exhibition. “This consultation enabled community views to be fed into the proposals, guiding the plans at every stage of the design process. “We are particularly pleased that development at West Way Place will be phased so retailers will be able to continue trading throughout the redevelopment. “Mace are proposing a direct let leasing model for the student accommodation but also have interest from Oxford’s two Universities. Retail tenants will include a mix of new and existing tenants.”
Developers Capital & Centric and Henry Boot have submitted plans to Manchester City Council for the first phase of a £200M mixed-use project in Manchester, UK.The project, designed by architects Mecanoo and Shedkm, will be located off Aytoun Street on a 2.3-acre plot of land acquired from Manchester Metropolitan University in 2014.Subject to planning consent, the residential-led mixed-use development in central Manchester will feature its own 'secret garden' as part of an innovative design.Phase one of the development will include about 500 private rented flats across two 12–16-storey buildings, featuring retail and leisure space at the ground floor level.The project will also include the refurbishment of the existing 1960s former Aytoun Tower, including a roof village of timber Dutch townhouses.Plans for the second phase, which will involve the redevelopment of the listed Minshull Mill and Minto & Turner Mill, are to be submitted later this year.Adam Higgins from Capital & Centric’s said: “We have worked closely with Manchester city council and importantly, the local community to create this exciting scheme, which will rejuvenate this area of our city that has been neglected for too long.“The ‘secret garden’ concept is pivotal to our vision to create a vibrant new bohemian destination for the city.”