Site work is wrapping up and construction workers are ready to start building on what will be a $3 billion development in Apex. The Triangle Business Journal reports RXR is developing the 1,200-acre Veridea site, which will start with two industrial buildings totaling 213,000 square feet. 1.3 million square feet of warehouse space is planned.

Summit House, the first apartment building, will go vertical in a few weeks with first delivery of units by the end of 2027 and completion in early 2028. Summit House will have 291 studio, one- and two-bedroom apartments in a four-story complex.

Other components of the venture include Veridea Crossing, the 220,000 square foot retail and office space within East Village. It will start opening in early 2028. That includes an anchor grocer opening in 2029. Construction on the Wake Tech’s new campus will start by the end of this year with a targeted opening in fall 2029 with 3,000 students.

Construction on the NC Children’s Hospital is expected to start in summer 2027, with the first phases delivering in 2031. 

IPB, a subsidiary of Bosa Properties announced that on-site work is underway for the first of three towers of the Motley on its development at the site of Midtown’s former dairy factory.

The Nashville Post reports that the Motley will be built in three phases. The first phase will offer a 26-story residential tower with 326 units. It will have more than 14,000 square feet of ground-level retail, as well as an amenity level with a fitness center, dog run, golf simulator and pool.

The next two phases include two more residential towers, one standing 32 stories tall and the other height not yet determined. At completion, the project will include 1,197 units. 

In 2022, IPB Properties paid a collective $80.7 million for the Midtown project site in separate transactions.

The land at 1401 Church St. was last home to the operation of dairy supplier Country Delite Farms, which Dairy Farmers of America shuttered in February 2022. A late 2027 completion is expected for the project.

Hines is partnering with the Aubrey Corporation to create a new employment center and mixed-use village consisting of over 2,390 acres in Bartow County, Georgia. Once complete, the mixed-use development will include up to ten million square feet of new manufacturing, data center, and logistics facilities as well as shops, restaurants, hotels, and a diverse offering of residential properties.

The mixed-use village component of the development program is planned to feature shopping and dining options including a grocer and large-format national retailers, as well as local and regional restaurants, cafes, and shops organized around a central green space. The residential offering will include townhomes and apartments.

The project is projected to be completed over the next ten to twelve years in several phases, with Hines expecting to break ground on the initial infrastructure in late 2025 or 2026. Jim Ramseur and Samantha Wheeler with Lee & Associates represented the Aubrey Corporation. Ramseur Real Estate Advisors will act as the managing consultant for the ventures’ commercial and residential parcels moving forward.

Atlas Development is exploring the possibilities of constructing 13 data centers about 40 miles outside Atlanta in Coweta County. The project, expected to cost $17 billion at full buildout, is far from a done deal. The company’s proposal must contend with power needs that exceed those of the county’s households. Through 2037, data centers will account for almost 83% of Georgia Power’s electricity demand from large potential new customers.

In addition, the company must manage the huge water and sewer requirements for a project of this size.

The project would rise on 800 acres near Newnan on a tract off U.S. 27 bounded by Wagers Mill and Welcome to Sargent roads. Each data center would be 378,000 square feet, with the whole project spanning almost 5 million square feet.

The Atlanta Business Chronicle reports Coweta County estimates the project would generate almost $1.6 billion in annual tax revenue. 

Penn-Florida Cos. has updated its plans for Universal Village in Boca Raton. The developer purchased the land in 2013 and secured the zoning on 77 acres near Florida Atlantic University in 2015 but has yet to start construction.

The S. Florida Business Journal reports that the revised plans for University Village include: The residential unit count would be reduced from 829 to 710, and there would be 100 senior multifamily units; the tallest apartment building would be seven stories; and the office space and retail/restaurant would also be modestly reduced within a proposed five-story building. The number of hotel rooms would remain at 185.

University Village would be developed over three phases. The first phase would contain 466 residential units, the office building, the hotel and most of the retail/restaurant space. The second phase would have 184 residential units, followed by 131 residential units and the rest of the retail in the third phase.

Charlotte Pipe & Foundry named Trammell Crow Co. developer of the first phase of the company’s former manufacturing site in Charlotte, North Carolina.

The Dallas-based real estate company will also be the master planner for the entire 55.5-acre former foundry site, which operated for more than a century before closing last year. It straddles the uptown and South End areas of Charlotte.

The first phase of projects — with Trammell Crow presiding over the development — will feature:

• A 150-room hotel
• 500 residential units
• 100,000 square feet of retail and restaurants
• 150,000 square feet of Class A office space
• 1,200 parking spaces

S9 Architecture is the architectural firm assisting with the master planning and numerous concept designs. Construction will likely begin late in 2025 or early in 2026 and wrap up two years later.

As of June 30, Trammell Crow had $18.8 billion worth of projects underway and another $13.1 billion in the pipeline.

The Promenade at Brentwood, a 337,800-square-foot retail shopping center located in Brentwood, Missouri, has been listed for sale. The open-air center, owned by Site Centers of Ohio, is one of the most dominant shopping centers in the St. Louis MSA, situated within the Brentwood retail corridor.

CBRE’s Christian Williams and Chase Young are leading the marketing and sale of the property. Ranked among the top three shopping centers in the MSA for consumer traffic, the center features a list of national retailers, including Target, Trader Joe’s, Burlington Stores, Inc., Five Below, Ulta Beauty, and Chase Bank.

St. Louis County appraises the site at $29 million, reported the St. Louis Business Journal. Brentwood Promenade was developed in the 1990s, by Orix Sansone Brentwood LLC, a joint venture between St. Louis-based Sansone Group and Orix Real Estate Equities Inc. of Chicago. The property last sold in 2001.

At the behest of New York-based Mack Real Estate Group (MREG), the Arizona State Land Department has agreed to auction off 2,300 acres of land surrounding the $40 billion Taiwan Semiconductor Manufacturing Co. plants in N. Phoenix. The Phoenix Business Journal reports it’s meant for the buildout of a massive technology and science park reminiscent of Silicon Valley.

The auction is scheduled for May 29 with a starting bid at $56.28 million, or about $24,000 an acre. Anyone can bid on the property, but more often than not, the winning bidder is the one who initiates the auction. MREG already has an extensive portfolio of projects across the Valley of the Sun.

The developer “intends to construct and install all of the necessary infrastructure needed for development of the subject and then market parcels for sale to end-users and a variety of uses” including industrial, commercial, multifamily and more.