Advances Archives - VRJ Properties https://vrjproperties.com/tag/advances/ Multifamily and Commercial Real Estate Investments Wed, 26 Jun 2024 02:41:49 +0000 en-US hourly 1 https://vrjproperties.com/wp-content/uploads/cropped-favicon-512x512-1-32x32.png Advances Archives - VRJ Properties https://vrjproperties.com/tag/advances/ 32 32 Sterling Bay’s Lincoln Park Housing Project Advances https://vrjproperties.com/sterling-bays-lincoln-park-housing-project-advances/ Tue, 25 Jun 2024 22:52:35 +0000 https://vrjproperties.com/sterling-bays-lincoln-park-housing-project-advances/ A two-tower multifamily development proposed by Sterling Bay that had advanced through the initial hurdle of zoning approvals is now facing a delay in the process amid opposition from a local alderman. The deferral came less than a week after...

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A two-tower multifamily development proposed by Sterling Bay that had advanced through the initial hurdle of zoning approvals is now facing a delay in the process amid opposition from a local alderman.

The deferral came less than a week after the mayoral-appointed City Plan Commission approved the development near Lincoln Yards despite objections from Ald. Scott Waguespack, whose 32nd Ward encompasses the site. Both Waguespack and Sterling Bay’s zoning attorney requested a vote in the City Council’s Zoning Committee be deferred until a later meeting.

Sterling Bay plans to build a 25-story building with 615 apartments at 1840 North Marcey Street on a former industrial site near the developer’s $6 billion Lincoln Yards megaproject, reported Crain’s. The larger building was previously proposed at 27 stories.

The Sterling Bay project’s journey through the approval process is seen as a test case for Johnson’s comittment to improve and streamline administrative processes to build housing and commercial developments in Chicago.

The post Sterling Bay’s Lincoln Park Housing Project Advances appeared first on Connect CRE.



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]]> Durham Bottling Plant Redevelopment Advances https://vrjproperties.com/durham-bottling-plant-redevelopment-advances/ Fri, 10 May 2024 13:23:04 +0000 https://vrjproperties.com/durham-bottling-plant-redevelopment-advances/ Ardent Companies has updated its plans for redeveloping a Durham Coca-Cola Bottling Company warehouse. The new development will include 370 apartments, 35 townhomes and nearly 70,000 square feet of retail space, including a grocery store. The company is hoping to...

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Ardent Companies has updated its plans for redeveloping a Durham Coca-Cola Bottling Company warehouse. The new development will include 370 apartments, 35 townhomes and nearly 70,000 square feet of retail space, including a grocery store.

The company is hoping to break ground in the first quarter of 2025. If it follows that timeline, the development will open in the third quarter of 2026.

The multifamily units will be a mix of studio, one, two and three-bedroom units in a seven-story building. The Triangle Business Journal reports that retail will be in six buildings, one for the grocer and five for new retailers. The grocery space will be 23,291 square feet, and the remaining buildings will hold about 15 retailers.

The Durham Coca-Cola bottling facility, built in 1961, is at 3214 Hillsborough Road, near Duke University Hospital. The more than 100,000-square-foot warehouse is on 11 acres and is assessed at about $4.5 million.



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