Community Development Digest

Development

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Chesapeake Real Estate Group to Develop 259 Acres

A Baltimore-based real estate company plans to develop up to 1 million square feet of industrial and warehouse space at an Anne Arundel County property known as Brandon Woods III.

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$59 Million Financing Deal Closes for Merietta, GA Asset

Bethesda, MD-based Walker & Dunlop Inc. has closed an approximate $59 million combination of bridge and equity financing for Newmarket Business Park, a 471,486 square foot, Class B, multi-tenant office property in Marietta, GA.

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CEDS Resource Helps Craft Economic Development Strategy

If you’re a city planner or a private developer seeking to strengthen your economic development portfolio, there’s a free resource available to help you do just that.

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New $28 Million Assisted Living Facility Coming to Colorado

Bethesda, MD-based commercial real estate finance company Walker & Dunlop has structured a $28.1 million construction loan for Jackson Creek Senior Living, a 137-unit assisted living facility that will be located between Denver and Colorado Springs in Monument, CO.

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Senior Living Facility On Track for Completion in Spring 2018

The foundation, paving and first-floor framing is complete and one of the five wings is nearing completion on its rooftop. Mountain vistas provide the backdrop for the Coachella Valley’s newest senior living community by WESTliving opening next year.

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Former Readers Digest Headquarters Becomes Retail Development

Dubbed Chappaqua Crossing, the project will be ready for its anchor tenants, Whole Foods and Life Time Fitness, each 40,000-square feet, in mid-2018. Other tenants with signed leases include Pet Valu, Chase Bank, AT&T, and Go Health Urgent Care.

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New Seniors Housing Development Slated for Snellville, GA

Senior Lifestyle Corporation, a privately-held owner, operator, and developer of seniors housing communities, and its co-developer, Griffin Fine Living LLC, have unveiled development plans for The Sheridan at Eastside. Located in a vibrant and growing section of Snellville, GA, The Sheridan's construction is slated to begin in this fall with a projected opening date for residents in late 2018.

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RSI Communities Goes Big in Texas with 28 Communities

RSI Communities, a California- and Texas-based residential developer, says it has invested more than $100 million in land acquisitions in San Antonio and Austin, TX, expanding its Texas land portfolio to 4,200 lots. The company also plans to build 1,000 energy-efficient, value-packed homes on the newly acquired properties in 2017.

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Major Electronics Firm Breaks Ground on NJ Headquarters

LG Electronics has broken ground on a fresh New Jersey headquarters. The new office complex was contested for several years by surrounding New Jersey communities. Local environmentalists and community members in 2013 expressed concern that the height of the new construction planned for Palisades Heights would destroy the scenic views of the cliffs along the Hudson Rive

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Community Benefits Agreements: When Good Intentions Go Wrong

CBAs are contractual agreements between represented community groups and developers. They spell out specific benefits a developer will provide to the community in exchange for public support of the developer’s proposed project. Examples include changing elements of the project itself based on community feedback, dedicating a percentage of jobs and contracts to residents or other stakeholders, and funding projects such as affordable housing, public space, or youth programming.

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