Mike Levin’s Post

🔹 "The Safeway at 1780 E Broadway is owned by Nova Scotia-based Crombie REIT, and they are partnering with Vancouver-based developer Westbank to redevelop the site, with Perkins&Will serving as the architect." 🔹 "When the developers submitted their original rezoning application for the site to the City in June 2019, the plan was for 24-, 27-, and 30-storey towers with a total of 520 market strata units and 160 market rental units, for a total density of 5.53 FSR." 🔹 "By August 2023, the rezoning application was withdrawn altogether ahead of the developers submitting a new rezoning application in November, which was made public earlier this year. That proposal was for 35-, 36-, and 39-storey towers, with a total of 981 residential units, consisting of 882 market rental units and 99 below-market rental units, for a total density of 7.90." 🔹 "Now, the proposal for the site is 36-, 37-, and 43-storey towers, with a total of 1,044 residential units, consisting of 940 market rental units and 104 below-market rental units, for a total density of 8.27 FSR." 🔹 "This 2024 Rezoning resubmission proposes an increase in density from the previously proposed 5.7 FSR to approx. 8.3 FSR," they added. "Although this density is greater than that originally envisioned for this site within the GWCP, it is well within parameters that would be considered reasonable when compared to neighbouring sites within the Broadway Plan Corridor." It remains unclear how the City will handle the proposal. Storeys | Westbank Corp | Crombie REIT | Perkins&Will #Redevelopment #Vancouver #Vancouverrealestate

🏗 Exciting Redevelopment at Preston Center Pavilion 🌆 Dallas' Preston Center Pavilion is set for a transformative redevelopment, introducing a multifamily tower and office tower with ground-floor retail into the heart of North Dallas. Ramrock Real Estate LLC aims to enrich the area with a mix of residential, office, and retail spaces, enhancing the urban landscape and pedestrian experience. 🛍 230,000 Square Feet of Retail: The current site, known for its vibrant retail offerings, will see an expansion to include high-rise living and office spaces. 🏢 Mixed-Income Housing Initiative: The project seeks approval for increased floor area and height, tied to providing mixed-income housing, with a proposal to make 5% of units affordable for households earning 81% to 100% of the median family income. 🌳 Enhanced Open Spaces: Responding to feedback, Ramrock has increased the open space in its design, promoting a more engaging and pedestrian-friendly environment. 🔄 A Diverse Urban Mix: The introduction of multifamily units to an area predominantly featuring office and retail uses aims to boost the vitality of Preston Center, maintaining ground-floor retail along the core. https://lnkd.in/gFcdQW7q #landinvestment  #landevelopment #dfwrealestate #cre 

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

FOR SALE OR LEASE EXCELLENT REDEVELOPMENT POSSIBILITY  538 W 5TH STREET SAN PEDRO, CALIFORNIA https://lnkd.in/g-YdkJ7c WESTMAC Commercial Brokerage Company is pleased to present the opportunity to acquire or lease 538 W 5th Street, San Pedro, California 538 W 5th Street, San Pedro, California, offers a strategic location in San Pedro’s most dynamic district. It is ideal for businesses seeking high visibility and easy access to key cultural and commercial attractions. Located in the vibrant San Pedro Arts, Culture, and Entertainment (SPACE) District, this property sits in the historic core of downtown San Pedro. The SPACE District is known for its artistic flair and vibrant community. It covers the areas around Pacific Avenue, Harbor Boulevard, and surrounding streets, hosting various art galleries, studios, retail shops, luxury apartment complexes, luxury live-work apartment complexes, and cultural venues. This prime location is ideal for businesses seeking high visibility and easy access to the Port of Los Angeles, key cultural and commercial attractions, and to thrive in a bustling cultural and commercial hub. This property provides an excellent investment opportunity for an owner-user, a redevelopment project or a lessee seeking a large footprint in San Pedro.  Approximately 7,358 square feet BUILDING SIZE : Main Building size: ±6,204 square feet | Addition size: ±1,131 square feet LOT SIZE : Approximately 15,002 square feet Lot size meets the minimum for potential redevelopment. As part of the Enterprise zone, projects may utilize a lower parking ratio for commercial office, business, retail, restaurant, bar and related uses, trade schools, or research and development buildings thus increasing the buildable area of the parcel ZONING : LAC2-1VL-CPIO Current use code allows for non-auto service and repair shop, paint shop, or laundry APN :7451-027-004 YEAR BUILT :1950 PARKING :On-site and street parking Immediately FEARURES : » New roof. » High foot traffic area. » Close proximity to major ports and waterfront attractions. » Surrounded by a mix of residential, commercial, and cultural establishments. » Easily accessible via major roads and public transportation. » Nearby waterfront, art galleries, retail and grocery stores, parks, schools and a variety of dining options enhance the livability and convenience of the location. » Close to Cabrillo Avenue Elementary School, Richard Henry Dana Middle School, and San Pedro Senior High School, all part of the Los Angeles Unified School District. » Well-served by several public transit lines including 142, 205, 225, 246, and 550, making it easy to commute within the San Pedro area and beyond. Buyer / lessee to verify all information

🏙️ 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

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

Although it will be years before the vision for Cloverdale Mall really begins to take shape, the City’s approval of the first two towers is an important step towards transforming the mall into a space that will better serve Etobicoke residents, many of whom already look to the mall as a de facto community gathering space. I love that the masterplan for Cloverdale Mall has evolved from a “retail main street strategy” to an “urban village strategy” that will centre around two large public parks. Add Valhalla Village just to the north, coupled with Cypress and Kip District Condos and the Six-Points Interchange Redevelopment to the east along Dundas St.W., central Etobicoke will be transformed entirely. https://lnkd.in/gCqCHMGy #mixedusedevelopment #transitorienteddevelopment #residentialdevelopment #highrisebuildings #apartments #affordablehousing #retail #amenities #rentalunits #etobicoke #toronto #development

New Post: Developer proposes residential building on Grove Street in West Roxbury, on block that is now home to neighborhood’s only Venezuelan restaurant -A Walpole developer has filed plans to replace a string of low-slung stores on Grove Street at Washington Street with a five-story, 30-unit apartment building that would have ground-floor retail space. In a filing with the BPDA, Derrick Fitzgerald’s S & F Development does not say if Viva Mi Arepa or the other businesses –... A Walpole developer has filed plans to replace a string of low-slung stores on Grove Street at Washington Street with a five-story, 30-unit apartment building that would have ground-floor retail space. In a filing with the BPDA, Derrick Fitzgerald's S & F Development does not say if Viva Mi Arepa or the other businesses - which also include the Yellow Bird chicken place - will be offered spaces in the new building. The units would be split between one- and two-bedroom units. Roughly four units would be rented as affordable. The building would have 11 parking spaces in a lot, accessible via a curb cut at 5205 Washington St. - the 17-unit apartment building now nearing completion around the corner, where the Lee Myles transmission garage used to be. Fitzgerald says his company recently acquired that project. 231-245 Grove St. filings. Source link

New Post: Developer proposes residential building on Grove Street in West Roxbury, on block that is now home to neighborhood’s only Venezuelan restaurant -A Walpole developer has filed plans to replace a string of low-slung stores on Grove Street at Washington Street with a five-story, 30-unit apartment building that would have ground-floor retail space. In a filing with the BPDA, Derrick Fitzgerald’s S & F Development does not say if Viva Mi Arepa or the other businesses –... A Walpole developer has filed plans to replace a string of low-slung stores on Grove Street at Washington Street with a five-story, 30-unit apartment building that would have ground-floor retail space. In a filing with the BPDA, Derrick Fitzgerald's S & F Development does not say if Viva Mi Arepa or the other businesses - which also include the Yellow Bird chicken place - will be offered spaces in the new building. The units would be split between one- and two-bedroom units. Roughly four units would be rented as affordable. The building would have 11 parking spaces in a lot, accessible via a curb cut at 5205 Washington St. - the 17-unit apartment building now nearing completion around the corner, where the Lee Myles transmission garage used to be. Fitzgerald says his company recently acquired that project. 231-245 Grove St. filings. Source link

HENRICO, VA - A local real estate firm’s plans for a new-construction headquarters in Short Pump is off the table.  Capital Square has scrapped its plans to build four-story, 65,000-square-foot office on the vacant 1-acre parcel at 2301 Old Brick Road in West Broad Village.  As part of that change of plans, Capital Square has sold the West Broad Village site and relocated elsewhere within its current neighborhood in Innsbrook. Capital Square sold the West Broad Village land to CTO Realty Growth, Inc., the Florida-based investment firm that bought the bulk of West Broad Village’s retail space for $94 million in 2022.  The land sold for $1.5 million – the same amount Capital Square had paid for it a few years ago. Capital Square continues to own the entirety of the apartment portion of West Broad Village, which it bought in a record-setting, $111 million deal in 2021.  Capital Square co-CEO Louis Rogers said the company chose to sublease 45,000 square feet in the former local Snagajob headquarters building at 4851 Lake Brook Drive. It moved into the space last fall. “We found the perfect sublease, the former Snagajob headquarters, that obviated the need to build a very expensive headquarters,” Rogers said in an email. “As real estate professionals, we realized that this was quite a bargain and a very rare opportunity to step right into the perfectly furnished office that meets all of our current and future needs.” What’s next for the grassy area on Old Brick Road is unclear. CTO did not respond to requests for comment. There’s been some churn among West Broad Village’s commercial spaces since CTO bought the development in 2022, particularly in its restaurant spaces. A new steakhouse recently opened and a Ford Motors-inspired eatery is en route, though this spring it lost a tenant in Carrabba’s.  Meanwhile Capital Square is busy with other new-construction projects, particularly in Scott’s Addition where it’s building more than 350 apartments on a 3-acre site along West Marshall Street.  It also recently announced it has begun an equity raise for its next big Scott’s Addition development: a six-story mixed-use building that’ll include 220 apartments and 100 hotel rooms at 1600 Roseneath Road. That 2.2-acre site, which Capital Square bought in the spring for $11.5 million in another record-setting deal, was formerly home to longtime diner The Dairy Bar.  Capital Square often finances its deals through private investment, namely from investors executing 1031 exchanges, and it announced this week it’s launched a fund seeking to raise $77 million to help build the Roseneath development. Construction is set to begin sometime in 2025.  For more, click on the link below. #escrowcredirt #newmarktitleservices