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Mixed-use tower advances near BeltLine A local development firm is hoping to continue the groundswell of new housing around Atlanta’s Blandtown neighborhood with a project that would have steps-away access to the BeltLine and, well, other area attractions. Cassius Coleman, a principal with Atlanta-based Five Points Development, tells Urbanize Atlanta his company closed in January on the land required to build a project called 1283 West. The purchase price wasn’t disclosed. The concept calls for 200 residential units and 7,000 square feet of commercial space rising from what’s currently a vacant lot at 1283 Marietta Boulevard, about two miles west of Atlantic Station.  The land in question is bordered by Elaine Avenue to the north, Marietta Boulevard to the west, a small office complex to the east, and Vivide strip club to the south. According to Coleman, 25 percent of the apartments would rent for prices reserved for residents earning 80 percent of the area median income or less, while 3,000 square feet of the retail and restaurant space would be leased to underserved tenants. Renderings suggest 1283 West would rise 16 stories, with retail and a plaza facing Marietta Boulevard and amenities including a pool situated near the base. Five Points Development lists itself as a co-developer on the project. The company’s previous work includes the Legacy at Vine City project and two under-construction housing ventures near Greenbriar Mall, among other projects. Coleman said 1283 West’s land deal closed with Capital Impact Partners and that design work is continuing now. “Plans will be ready in late August for a possible construction loan closing in the fourth quarter [of 2024],” Coleman wrote via email. https://lnkd.in/gFeGSrt7 near-beltline-strip-club-images-first-look?

Old Orchard Skokie Development Update. $100 Million Transformation Of Old Orchard Mall Heads To Skokie Plan Commission Phase one includes the demolition of the former Bloomingdale's and the construction of over 400 apartments and 16,000 square feet of retail. SKOKIE, IL — The future of Old Orchard Mall will be the central topic at a Skokie Plan Commission meeting Thursday, with commissioners set to consider whether to recommend that trustees grant approval for redevelopment plans for the shopping center. The two-phase project proposed by mall landlord Unibail-Rodamco-Westfield, URW, in partnership with Chicago-based developer Focus calls for the demolition of northwest and northern portions of the mall, which will be replaced with new apartment buildings, and possibly a hotel, atop redesigned retail space. The first phase of the project includes the construction of up to 425 apartment units and 16,000 square feet of street-level retail in two buildings, one five stories tall and the other seven stories tall, connected by bridges and common areas. https://lnkd.in/gy_WKGQ2

Value Add / End User Opportunity with Redevelopment Upside Unique opportunity to purchase a 11,867 square foot mixed-use retail building located near the intersection of Canada Way and Edmonds St in Burnaby’s Edmonds neighborhood. The property is in close proximity to Edmonds School Park and Community Centre in addition to transit hubs, restaurants and other community amenities. The 2 storey building currently has 13 units (3 commercial retail units (CRUs) and 10 office units). The 10,012 square foot lot also has a OCP designation allowing for a 4+ storey mixed-use development. At present, there are 10 parking stalls at the rear with one point of ingress and egress in addition to streetside parking at the front. Recent lease transactions support market rates of $25/SF/YR + in the Edmonds neighborhood. From a repositioning standpoint, one has an exceptional opportunity to increase market rents/rental income in order to add significant value. Lease provisions also allow for end-users to occupy a substantial percentage of the building, while benefiting from holding income/appreciation. $25/SF/YR + for retail & office in the Burnaby Submarket https://lnkd.in/g69zqUqF

CBRE is pleased to present the extraordinary opportunity to acquire 1314 N Marston (“The Property”), a brand new boutique luxury apartment building located in the burgeoning Brewerytown submarket in Philadelphia, Pennsylvania. The Property currently requires approximately $250,000 to complete construction and obtain a certificate of occupancy. Ownership would prefer to transact immediately and allow the buyer to complete construction and lease-up. Since the Property is located in a Qualified Opportunity Zone (QOZ), this would allow a QOZ buyer to take advantage of the associated tax benefits. They are willing to consider completing construction and closing once the certificate of occupancy is obtained. The five-story, luxury building contains 14 spacious two- and three-bedroom residences designed with condo level finishes, private terraces (select units), a rooftop deck and a dog run.   1314 N Marston is located just a few minutes from Brewerytown’s blossoming restaurant and bar scene, and one block from Philadelphia’s Athletic Recreation Center, a 4.7 acre site that includes an outdoor swimming pool, basketball courts, baseball fields, a playground, and an indoor sports facility. The recreation center also has a six-room building with an auditorium, gymnasium, boxing gym, and public computing center. Aldi, the German based grocery chain, is conveniently located just four blocks away with Whole Foods and Target within a mile.   The Property is conveniently situated just one block from SEPTA’s route 7, 48 and 49 bus lines, as well as the Girard Avenue trolley, which provide access to Center City. The Parkway and Art Museum District and Central Business District are each just minutes away. The elegant podium construction design includes 14 secure garage parking spaces, allowing residents to safely park their cars at the Property and easily access I-76, I-676 and I-95. 1314 N Marston represents a rare opportunity to acquire a newly-constructed luxury residential building with the largest units in the market, condo-quality finishes located in the path of growth and just minutes from Center City.    CBRE Deal Flow: https://lnkd.in/e3ehm4DZ Contact Us: Spencer Yablon - spencer.yablon@cbre.com Adrian Sam - adrian.sam@cbre.com Robert Miller - robert.f.miller@cbre.com John McFadden - john.mcfadden@cbre.com Brad Megay - brad.megay@cbre.com Marco Spigonardo - marco.spigonardo@cbre.com

🏙️ Atlanta Commercial Real Estate Highlights 🔄 Adaptive Reuse Projects: -Upper West Market: A former 97K SF warehouse on Collier Road will be transformed into a vibrant indoor farmer’s market, featuring local food stalls, retail spaces, and offices. Tenants include Chef Anne Quatrano’s Summerland Cafe, HopCity Wine Bar, and Honeysuckle Gelato. Expected opening: Summer 2025. 🏢 New Developments: -40 Marietta St. Conversion: Columbia Ventures is turning a 17-story office tower into a 152-unit affordable senior living facility with rents ranging from $698 to $2,000. Invest Atlanta approved a $32.5M tax-exempt loan for the project. -Veranda at Assembly: The Integral Group delivered this 100-unit affordable senior living complex in Doraville, catering to residents 55 and older. -Georgia-Pacific Center: Plans to convert their 51-story headquarters into a mixed-use tower with 400 apartment units, 125K SF of retail space, and a 35K SF central plaza. -Underground Atlanta: Lalani Ventures and Exact Capital are developing a 405-unit mixed-use apartment tower featuring student, income-restricted, and market-rate housing along with retail and art incubator spaces. 🏘️ Major Transactions: -Gwinnett Place Mall: Gwinnett County purchased Macy’s department store for $16.5M as part of the mall's redevelopment into a mixed-use Global Village with 3,800 residential units and extensive commercial space. -Met Atlanta Purchase: Atrium Health bought nearly 40 acres near the West End MARTA station for $70M, further expanding their footprint in the area. 💼 Lease Renewals: -T-Mobile at One Ravinia Drive: Renewed its 100K SF office lease in the Central Perimeter’s 800K SF tower, represented by CBRE and Cushman & Wakefield. -Thrive Coworking: Leased nearly 19K SF at 3176 Main St. in Downtown Duluth, marking its eighth Georgia location. 💰 Financing Initiatives: -Rapid Rehousing Program: Invest Atlanta approved $75M in bonds to construct 500 quick-delivery housing units for Atlanta residents experiencing homelessness, supported by the city’s Affordable Housing Trust Fund and additional $10M. #AtlantaRealEstate #CRE #CommunityGrowth #AdaptiveReuse #Development #InvestmentOpportunities https://lnkd.in/g2gJr77J

Xpercity picks up stalled Manchester resi scheme! Follow Sourced Recruitment Group for the latest updates and jobs in the Northwest Residential Sector. Plans for 69 canalside homes on Store Street were approved more than four years ago but the project has failed to get off the ground due to viability constraints. Xpercity has acquired the Manchester site from the Canal and Rivers Trust to bring the development forward. With Xpercity at the helm, the project will have a 20% affordable provision. In 2020, when the scheme was first unveiled by Clarion Housing Association and H20 Urban – a joint venture between developer Bloc and the Canal & River Trust – it was proposed as a 100% affordable scheme. However, Clarion walked away in 2022 after the cost of the project increased from £10.5m to £16m. Having acquired the site, Xpercity has appointed CBRE to find a registered provider to operate the 13 affordable homes within the scheme. Nick Legget, development director at H20, said: “Following the grant of planning permission, H2O has been working tirelessly to negate the impact of significant market volatility, to ensure the scheme remained viable for delivery. “By identifying a suitable partner in Xpercity, the approved scheme can now be delivered with a policy compliant level of affordable housing, as set out in the S106 Agreement. We look forward to seeing the scheme brought forward, which, unlike most of the residential schemes delivered in the city centre in recent years, will ensure delivery of much-needed affordable housing.” The Store Street development will be completed by Xpercity’s sister company, Big Red Construction Group, and is set to be ready for occupation in quarter one of 2026. The build-to-rent development will comprise 66 one- and two-bed apartments, and three townhouses. The scheme will be branded Outram in recognition of Benjamin Outram, the engineer who built the nearby aqueduct. Designed by AHR Architects, Outram will be positioned on a small triangular plot next to the Ashton Canal and comprise two adjoining blocks. The blocks are designed to address a 6.5-metre disparity in elevation between the canal towpath and Store Street.   The first block is 11 storeys rising from street level, while the second, at four storeys, rises from the level of the canal towpath.   Mike Lomas, founder of the BR2.0 Group, which includes both Xpercity and Big Red Construction, said: “Xpercity aims to create a more enjoyable way of living and our latest site on Store Street will do just that. #BTR #Newbuildhomes #affordablehomes #sourcedrecruitmentgroup Credit - Place Northwest https://lnkd.in/ddncKWa3

CHESTERFIELD COUNTY, VA - Decades after buying a sizable assemblage at a prime Chesterfield crossroads, local developer Ed Nunnally is moving forward on the mixed-use development he has long envisioned for the land. Nunnally’s EWN Investments and Henrico-based private equity and development firm Markel|Eagle Partners, LLC are in the early stages of planning a large project that would rise on 200 acres at the intersection of Hull Street and Otterdale roads in western Chesterfield. The project, dubbed Nunnally Village, would take a page from Markel | Eagle’s GreenGate center in Short Pump, and is expected to feature multiple grocery stores and other retailers, restaurants with an emphasis on locally owned brands, office space, and residences. “We have had a lot of great conversations with grocery stores and local grocery stores, local restaurants and some national names as well,” Markel | Eagle President Richard (Ricky) E. Core Jr. said. “What we’re seeking to deliver is a retail experience similar to what we created at GreenGate.” Preliminary planning for the project is still underway, and a cost estimate for the project is still being worked out. Core said the project team plans to file a zoning application tied to the development with Chesterfield County this year. Core said specific square footages and number of buildings were still being determined and would be shaped by ongoing conversations with potential tenants. A site plan or renderings weren’t available. “We haven’t finalized a site plan,” Core said. “We are still working through understanding what the users look like and what their needs are.” Ellen Long and Robert Marshall of Taylor Long Properties have been tapped to handle leasing at the project. The project site consists of more than 200 acres across six parcels that are owned by an LLC tied to Markel | Eagle and the Nunnally family, which plan to develop the project in a joint venture. The project is the first time Nunnally and Markel | Eagle have worked together after being introduced about a decade ago, and the development has been discussed by the two sides for some time. “I’ve known Ed Nunnally for many years and we have discussed the vision for his family property. His vision and our vision are very much aligned and we want to create a great place to support the surrounding neighborhoods. The location is second to none in the Hull Street corridor,” Core said. Core likened the undeveloped site, which features both cleared land and woods, to a “donut hole” surrounded by the Magnolia Green subdivision to the west, Harpers Mill to the south and Cosby Village to the east. For much more, click on the link below. #escrowcredirt #newmarktitleservices

The developer behind a proposal to build three residential towers along Vancouver’s Broadway corridor near Commercial Drive have submitted yet another version of their plans with even higher towers – but this time composed entirely of rental units rather than condos, reported The Globe and Mail. "The proposed site, on what is now a Safeway grocery store that would also be redeveloped, is important because it is next to the Commercial-Broadway SkyTrain station, which connects two of Vancouver’s rapid-transit lines. It’s also in the heart of the Commercial Drive neighbourhood on the city’s east side and has the potential to transform it. The question is how it will transform the area." "The proposal at 1780 E. Broadway from developer Westbank Corp and landowner Crombie REIT now includes three towers at 35, 36 and 39 storeys above a retail podium level. A little more a year ago, in 2022, they were at 31, 34 and 38 storeys, which was already several storeys higher than what was proposed in 2019. There have been several updates to the plan." "The increase is to accommodate 981 secured purpose-built rental units, says architect Peter Busby. The new focus on rentals is a response to policies that have come along in recent years designed to incentivize greater density around transit hubs." https://lnkd.in/g75EWgAu #vancouver #development #transitorienteddevelopment

Albany Park Commercial mixed use Development Update. Albany Park To Get Riverside Apartment Building Overlooking Ronan Park The five-story, 40-unit building on Lawrence Avenue will have ground-floor retail, a restaurant and parking for cars and bikes. ALBANY PARK — A five-story apartment building with ground-floor retail is coming to Albany Park near the Chicago River. City Council on Wednesday approved plans for the 40-unit, mixed-use Lawrence Gateway to be built at 2919 W. Lawrence Ave. Developers MAS Ventures LLC and Malek Abdulsamad needed a zoning change to move forward with the project. Apartments would be a mix of studios, one-bedroom and two-bedroom units, with 20 percent of them affordable. The market-rate rents will be finalized when the building is nearing completion, the developers previously said. The building would have a fifth-floor lounge and outdoor deck overlooking Ronan Park and the river, plus 10,000 square feet of retail divided into two parts on the ground floor. https://lnkd.in/gAUp8gre

Just Listed | StorSafe of Trotwood | Trotwood, Ohio (Dayton MSA) DEAL SUMMARY LIST PRICE   To Be Determined By Market NRSF.............73,435 UNITS............598 ACRES..........5.031   INVESTMENT HIGHLIGHTS   PRIME LOCATION // Centrally located on major East-West thoroughfare with strong traffic counts.   EXCELLENT DEMOS // The five-mile trade area boasts 99,486 people, 48K+ households. The population is projected to grow by 1.5% over the next five years supporting future demand for self storage.   FAVORABLE SUPPLY INDEX // The total supply index in five miles is 8.63 square feet per capita, with non-climate-controlled units making up 5.05 square feet.   POSITIVE INCOME TRENDING // The operation is realizing steady income growth over the trailing 12, 9, 6, and 3 month periods.   STRONG RENTAL RATES // In addition to achieved rental rate growth over the past three years, the current achieved rents are 11.27/foot   INVESTMENT SUMMARY   Strategically located with visibility and access to busy Salem Ave, StorSafe has been a fixture in the Trotwood Self Storage marketplace, proudly servicing the needs of the community for 50 years. Originally built in 1978 and completely renovated in 2019, the operation sits on 5.031 and consists of 598 units spread across 73,435 net rentable square feet.   The property offers construction and amenities typical of a B-Class operation. There are two large pole signs (one with electronic message board), boasting visibility from both Salem Ave and Salem Bend Dr. The attractive entrance allows for easy access to a well-pronounced 240 square foot leasing office and 1,300 square foot managers apartment. Customers can access the exterior drive-up units through a keypad-controlled security gate, via wide asphalt paved drive aisles. The interior units are accessed by well-lit corridors.   In May 2019 Trotwood and the surrounding area was devastated by a number of tornados that hit between 9pm and 2am. StorSafe was not spared, taking on significant storm damage. As a result, the site was completely renovated with new roofs, new siding, new gutters/down spouts, new signs, new fencing and gate, new cameras and 10% of the doors were replaced. Through it all, the occupancy remained strong – currently 90%.   StorSafe of Trotwood represents an excellent opportunity to purchase a well-located, highly occupied self storage operation, with in-place cash flow. Additionally, upside can be achieved by reducing expenses (automating the operation), building upon the ancillary sales programs that are in place, and by pushing the trailing income to in- place rent levels. Access the Offering Memorandum at https://lnkd.in/g6ZEFz8s LISTED BY: Parasell, Inc Scott Reid OH Lic #REC.2020005946 PRESENTED BY: Jesse Luke EquiCap Commercial 630.696.7281 Jesse@EquiCapCommercial.com Scott Rihm EquiCap Commercial 630.669.5625 Scott@EquiCapCommercial.com #selfstorageopportunities #selfstorageinvesting #investmentcre