S.R. Clarke Construction / Real Estate Development / Architecture / Engineering Blog: Jan 8, 2007






Monday, January 8, 2007

Rezoning Approved For Washington DC Mixed-Use Project

http://www.cpnonline.com/

"The development of Washington Gateway took a big step forward as the District of Columbia Office of Zoning's commissioners signed off on the 1 million square-foot mixed-use project in the burgeoning NoMa Corridor. MRP Realty is behind the endeavor, which will cost an estimated $350 million.

Washington Gateway, named for its position as the entrée to northeast Downtown, will be a jewel of the NoMA district, an area located north of Massachusetts Avenue and surrounded by Union Station, North Capitol St. and New York Ave. When completed, the property will be home to two office towers featuring an aggregate 600,000 square feet, a 250-unit residential apartment building, a 150-room extended-stay hotel and approximately 7,000 square feet of retail space. Washington, D.C., continues to be one of the leading office and multi-family markets in the country, so demand for such space remains strong. According to recent reports by Marcus & Millichap Real Estate Investment Brokerage Co., the average vacancy rate for apartments in Washington, D.C., is 3.9 percent and the average vacancy rate for office space is 8.8 percent; the office vacancy rate in the Capitol Hill submarket, which includes NoMA, is 6 percent, as per a third quarter report by real estate services firm GVA Advantis."

posted by S.R. Clarke

Buffalo Skyscraper Plans Unveiled

http://washington.bizjournals.com

" The proposal hasn't changed much since it was first unveiled by British developer and investor Bashar Issa in last October. The 1.1-million-square-foot building, planned for the corner of S. Elmwood Avenue and W. Mohawk Street, will feature a mix of office space, upscale condominiums and a 300-room hotel. The project remains tenant-driven with Issa waiting until at least 40 percent of the building has signed leases or letters of intent before construction can begin.

Office tenants are likely to come from places like New York, Toronto and Chicago rather than from the immediate Buffalo Niagara region. Frank Sica, a Cannon vice president, said several top-level hotel and restaurant chains have expressed an interest in the building as have some office tenants.

The building is designed to both dominate the Buffalo skyline and to bookend the 38-story HSBC Center, currently downtown's tallest building. "

posted by S.R. Clarke

Wichita Mixed-Use Project Breaks Ground

http://www.kansas.com/
"WaterWalk took a big step forward on Thursday as Key Construction quietly started work on the project's biggest building.

The seven-story building, called WaterWalk Place, will house condominiums, a parking garage, offices and retail space. The building is set for completion in May 2008.

It will run along Main Street between Waterman and Kellogg, to the east of the Gander Mountain store.

"The partners and the city are very excited about the next phase going into the ground," said Tom Johnson, president of WaterWalk.

The 48 condominiums will range from 1,200 square feet to 4,600 square feet. The units will start at $180,000.

On the first floor of the building will be 12,000 square feet of office space and 16,000 square feet of retail space.

Also on the first floor, the Greater Wichita Convention and Visitors Bureau has signed a letter of intent for its new location."

posted by S.R. Clarke

Model Homes Open At New Orange County Development

http://www.ocregister.com

"A neighborhood of two-story homes – high on a hill with ocean views – opens to the public today after five months of construction.

Belle Cliff, being built by John Laing Homes, is the first model to rise from the ground at Pacifica San Juan, a master-planned community under construction north of Camino Las Ramblas and east of the San Diego (I-5) Freeway.

So far, developer SunCal Companies has nearly completed all of the project's grading and is now installing neighborhood entry gates. Next month it will begin construction on the community's main entryway. And within several weeks it will begin construction on the recreation/pool area."

posted by S.R. Clarke

BE&K Offering Free Construction Job Training

http://www.al.com/

"BE&K Construction, based in Birmingham and one of the nation's largest privately held construction companies, is offering a free training program at its Decatur center.

The program, On Track, is designed to introduce people with no experience in construction to a possible career in that field. There's another part to the program that sounds almost too good to be true.


After four weeks of training, participants can fill out an application for employment. Everyone who completes the six-week training program is then offered a job.

The job may require some travel and a willingness to work out of town, but the offer will be there for those completing the program. "

posted by S.R. Clarke

Lauderhill Florida To Get Massively Redeveloped

http://www.sun-sentinel.com/

"Several multimillion-dollar projects -- including a gospel museum, an upscale shopping/arts district, residential developments and an updated mall -- are planned or proposed around Central Broward Regional Park on Sunrise Boulevard and State Road 7.

The 97-acre county park, scheduled to be completed about this time next year, will feature a 5,000-seat stadium for cricket and other sports, an aquatic center, a nature area, basketball and tennis courts and picnic areas.

Some residents said they wonder whether anything will really change in the area, but officials hope the proposed projects will add thousands of jobs and perhaps millions of dollars to the city's coffers.

"This redevelopment is in a relatively small geographic area, but it's going to benefit not only the nearby properties but all of Lauderhill," said Don Giancoli, director of the city's Community Redevelopment Agency."

posted by S.R. Clarke

Lauderhill Florida To Get Massively Redeveloped

http://www.sun-sentinel.com/

"Several multimillion-dollar projects -- including a gospel museum, an upscale shopping/arts district, residential developments and an updated mall -- are planned or proposed around Central Broward Regional Park on Sunrise Boulevard and State Road 7.

The 97-acre county park, scheduled to be completed about this time next year, will feature a 5,000-seat stadium for cricket and other sports, an aquatic center, a nature area, basketball and tennis courts and picnic areas.

Some residents said they wonder whether anything will really change in the area, but officials hope the proposed projects will add thousands of jobs and perhaps millions of dollars to the city's coffers.

"This redevelopment is in a relatively small geographic area, but it's going to benefit not only the nearby properties but all of Lauderhill," said Don Giancoli, director of the city's Community Redevelopment Agency."

posted by S.R. Clarke

Speculative Construction Returns To Boston Suburbs

http://www.bostonsf.com/

"Speculative office construction has returned to the Boston suburbs, initially in Waltham on Route 128 close to the Massachusetts Turnpike, reports Jones Lang LaSalle.

In Waltham, in response to declining vacancies and increasing rental rates, the first speculative construction in the suburbs in five years is underway, according to the 4th Quarter office report from Jones Lang LaSalle. Here are the speculative construction projects in Waltham:

Boston Properties has started construction at 77 Fourth Avenue, a Class A, 204,000 s.f. premium office building and is responding to RFPs for major tenants. Completion will likely be in early 2008.

Duffy Associates is also constructing a new Class A, 142,666 s.f. building on Waverley Oaks Road in East Waltham that will be ready for occupancy early in 2007.

Bulfinch Companies has also begun site work on Trapelo Corporate Center, a 93,823 s.f. building fronting Route 128 that will contain 61,054 s.f. of medical/office space.

Reservoir Woods, a 451,000 s.f., Class A office complex in Waltham was delivered in the 4th quarter, more than 80 percent occupied.

posted by S.R. Clarke

Torrey Pines Institute Project Moving Forward

http://www1.tcpalm.com/

" Suffolk Construction has not guaranteed a final price tag for the 100,000-square-foot building, but last week the city's Planning and Zoning Board approved the Torrey Pines site plan without any discussion. Meanwhile, city and Torrey Pines attorneys still are debating the details of the agreement that seals Port St. Lucie's portion of the $90 million deal that lured the California biotech firm here in September.

"I have every confidence staff will work out these issues amicably," Christensen said.

Making a home for Torrey Pines Institute for Molecular Studies is the city's priority for the next 24 months, officials said. The company chose Port St. Lucie partly because the city promised to build a lab and headquarters by the end of 2008.

To meet that timeline, the city is using the "design-build" method to construct the facility. The process means that financing, designing and even some building all happens concurrently, instead of each part beginning and ending before the next begins. "

posted by S.R. Clarke

Positive Forecast For Orlando Commercial Real Estate

http://www.orlandosentinel.com/

"Brad Peterson, senior vice president of Trammell Crow Co.'s East Coast Retail Investment Team, noted that more than 2 million square feet of new retail is in the pipeline for the University of Central Florida and Lake Nona areas in east Orange County, which are both expected to be growth centers during the next five years.

He sees a new regional mall being proposed for the area. The biomedical complex at Lake Nona, on the southeastern edge of Orlando International Airport, will provide a substantial boost to that area's growth, he said.

Peterson also expects 500,000 square feet of retail to open in downtown Orlando during the next two years."

posted by S.R. Clarke

Branson Landing Lawsuit

http://www.sbj.net/

"An Atlanta architecture firm has alleged in a lawsuit that the real estate development firm behind Branson Landing owes it $1.8 million plus interest for services performed.

Thompson, Ventulett, Stainback & Associates Inc. filed the suit in Taney County Circuit Court last month.

Defendants in the suit include HCW Development Co. LLC, the city of Branson and a long list of commercial tenants and individual condo owners at the $435 million, mixed-use lakefront development."

posted by S.R. Clarke

Massive North Las Vegas Development Gets Underway

http://www.inbusinesslasvegas.com/

"The Olympia Group, developer of Southern Highlands, kicked off construction this week on North Las Vegas' next master-planned community - Park Highlands. When completed, it will yield nearly 16,000 homes and other housing units and add nearly 50,000 people to the city's population.

North Las Vegas leaders had a vision of what they wanted in their city, and it was building on Aliante, Olympia partner Guy Inzalaco said.

"We are excited to see the next part of North Las Vegas take shape," Inzalaco said. "Aliante set a fine example of what North Las Vegas can be, and we are looking at Aliante and, if it can be done, take it to the next level and provide another great community for North Las Vegas."

posted by S.R. Clarke