Blake Management Group will bring a two-story, resort-style senior living community, The Blake, to the Lake View Acres neighborhood in College Station. The $23 million project will be located on Harvey Mitchell Parkway South.

The development will include 117 units, which include 73 licensed assisted living units and 44 memory care units. The community will offer assisted living and specialized memory care services for residents living with Alzheimer’s disease and related conditions. The Blake will offer full hospitality services, including dining, fitness programs, concierge assistance and laundry. 

Construction is expected to be completed in early 2028.

The Blake College Station project marks the company’s fourth development in Texas. Blake operates eight other communities nationwide. Texas locations include Waco, Tyler and New Braunfels.

Venu Holding Corporation purchased a 15-acre parcel of property in Chattanooga for planned expansion into Tennessee. VENU is planning to build an amphitheater at the Bend in Chattanooga, to be named Sunset Amphitheater Chattanooga. The planned development is expected to total $300 million in investment.

The venue will feature approximately 12,500 seats. Featuring a canopied roof that functions as both partially enclosed and open air, it will become Chattanooga’s first multi-seasonal facility, fundamentally expanding the city’s ability to attract major touring acts and large-scale events 365 days a year.

The planned venue will feature expansive traditional bowl seating, lawn seating, and a curated selection of premium spaces exclusive to the VENU portfolio, including elevated Owners Clubs and the signature Luxe FireSuites, all complemented by a wide variety of food and beverage offerings .

Hoar Construction will serve as the general contractor for the project. The culmination of the development’s partnership is contingent upon the successful completion of public-private partnership incentives currently under negotiation.

Hotelier Rajesh Aggarwal is planning to build a hotel on 1407 Division St. adjacent to the Best Western Plus Music Row hotel. The project will include a 191,150-square-foot building with 222 hotel rooms.

Aggarwal owns the 1.27-acre property, which includes the existing Best Western Plus. The proposed hotel will rise on a portion of the 0.61-acre site, which currently holds a surface parking lot for the neighboring hotel.

The Nashville Business Journal reports that Nashville’s hotel market continues to boom, with the city second only to New York in the number of hotel rooms set to open in 2025. Of the 2,849 rooms set to open in Nashville this year, most fall in the upper midscale and upscale classes. Music City has been hit by a wave of luxury offerings, with the openings of hotels like the Four Seasons Hotel Nashville, SoHo House Nashville and 1 Hotel Nashville.

The project is seeking final site approval when the Metro Planning Department meets in April.

CM Realty acquired 500 acres in Kaufman County and plans to build a large community, including commercial real estate, in the growing city of Terrell.

The planned community, Evening Star Ranch, will include 800 apartments and 197,700 square feet of commercial space, including a new grocery store, a restaurant, a financial institution, and 1,000 homes. The City of Terrell negotiated the agreement with CM Realty. Rex Glendenning of Frisco-based Rex Real Estate represented both parties in the transaction. The project is located at 16242 State Highway 34.

Terrell is attracting growing interest from homebuyers and developers due to its proximity to Dallas. The city, with a population of more than 21,000 residents, is located about 25 miles east of downtown Dallas on I-20 and U.S. Highway 80.

Construction is expected to begin within a year and will proceed in phases. CM is currently seeking development partners for the project.

One of Center City’s most iconic distressed office buildings could undergo a residential conversion following foreclosure proceedings expected to wrap up early next year.

TF Cornerstone plans to convert Center City’s historic Wanamaker Building into apartments following bankruptcy proceedings.

New York-based development company TF Cornerstone plans to transform the 1.4M SF structure at 1300 Market St. into apartments once the foreclosure process is complete, according to the Philadelphia Business Journal, which cited an unnamed source.

The vintage skyscraper’s current owner, Rubenstein Partners, is in the midst of bankruptcy proceedings in the Philadelphia Court of Common Pleas. TF Cornerstone acquired the majority of the building’s office debt in July and is pushing to advance the foreclosure case.

The two parties will have an opportunity to hash it out during a settlement conference scheduled for Jan. 6. If they don’t come to an agreement, a trial will begin on March 3.

The Wanamaker Building’s floor plate is roughly 100K SF, about five times larger than the ideal size for an office-to-residential conversion, the PBJ reported. One feasible but pricey solution would entail hollowing out the historically protected structure for an interior courtyard.

TF Cornerstone, which also bought the 435K SF Macy’s space on the first three floors of the building for $40M in 2019, has extensive experience with office conversions in New York City.

Its projects include 95 Horatio Street, a former refrigeration facility in the Meatpacking District that was converted to 318 residential units, and The Fairfax, a former FBI headquarters building that became 313 residences.

Last week, the company and partner Dune Real Estate announced plans for a new $1B office conversion venture called Alta Residential.

“Dune and TF Cornerstone have identified the conversion of office buildings to residential as a generational opportunity given the scale of the distress in office real estate together with the unmet demand for housing in the U.S.,” the companies said in a Tuesday press release.

In addition to TF Cornerstone’s hometown, Alta Residential will target the office markets in Washington, D.C., Boston, Atlanta, Dallas, San Francisco, Los Angeles, Charlotte and Raleigh, North Carolina.

Rubenstein paid $200M for a majority stake in the Wanamaker Building in 2017. It was 96% occupied at the time. That rate dropped to 36% when advertising firm Digitas vacated its space last year.

Rubenstein listed the building for sale in 2021 after several high-profile tenants, including the General Services Administration, the Department of Housing and Urban Development and the Children’s Hospital of Philadelphia, moved out in the wake of the pandemic.

The building went into receivership in September 2023. Details about TF Cornerstone’s plans to buy it first emerged in July.

Numerous professional sports teams have developed sports and entertainment districts adjacent to where the teams play. Now, a major college hopes to imitate the success of those developments.

Carter and Front Street Capital, in partnership with the City of Winston-Salem and Wake Forest University, are developing The Grounds, a 100-acre mixed-use development in the area surrounding North Carolina’s major event venues. The $150 million project will blend retail, dining, residential, and office space in one hub.

The Grounds will include:

• a 40,000-square-foot retail village that will include food and beverage offerings
• A 240-unit Residential Community
• A 100K SF Office Building intended to be leased by Wake Forest University. 
• Infrastructure improvements utilizing a $35 million grant allocated by the State of North Carolina that include road improvements, restoration of Silas Creek, and the construction of a paved, landscaped walking trail that will provide pedestrian connectivity throughout The Grounds

The developers say it will be the largest racquet sports facility in the world. Tennis player Rob Autry and partner Jason DeGroff are spending $125 million on the facility at 6121 Mt. Herman Road in Brier Creek. The 44-acre campus will feature pickleball, tennis, padel and volleyball courts and is expected to be ready in 2026.

Swing Racquet + Paddle has started work on the project, which will include 25 pickleball courts, 28 tennis courts, 15 padel courts, four beach volleyball courts and a ping-pong lounge. Swing Racquet + Paddle will have 25 pickleball courts, 28 tennis courts, 15 padel courts, four beach tennis and volleyball courts, a ping pong lounge and a full-service restaurant and bar.

The City of Raleigh granted the project $10 million. Swing’s flagship campus is expected to drive $360 million of economic impact in its first three years and attract more than one million visitors to the Raleigh area annually.  

Nexus Development says the company will begin building a high-end senior living community in Uptown Dallas. The 20-story luxury tower, called Vivante at Turtle Creek, located at 2505 Turtle Creek Blvd, is planned to feature 164 assisted living units, 29 memory care units and two levels of underground parking. The Dallas Business Journal reports construction on the roughly 375,000-square-foot building is estimated to cost roughly $150 million and should be completed in early 2027.

The assisted living units will range from 1,000 square feet to 3,000 square feet and feature full kitchens and balconies/patios. The memory care units, located in a secure care community within Vivante called The Shores, are designed for residents with dementia and offer shared and private room options.

The senior living community will include a library, movie theater, chauffeured Mercedes transportation, a large ballroom, beauty salon and yoga and Pilates studio.

HKS Inc. is the development’s design firm, and Andres Construction is the general contractor.

Wegmans Food Markets, Inc. and Northwood Investors LLC plan to open a new Wegmans location on the Ballantyne campus south of Charlotte. The grocer will be situated at North Community House Road on the east side of Ballantyne. Wegmans is targeting opening by the third quarter of 2026.

At approximately 110,000 square feet, Wegmans’ Ballantyne location will feature a produce department, seafood, meat, bakery, deli, and cheese options, and a large selection of wine and beer. In addition, the store will have a market café with indoor and outdoor seating.

From its position on North Community House Road, Wegmans will be less than a half mile from Ballantyne’s mixed-use development, The Bowl at Ballantyne.

Wegman’s now has four locations in North Carolina and 111 stores in eight states along the East Coast and in the District of Columbia.

The Sweet Auburn neighborhood of Atlanta, one that is often overlooked by apartment investors, will be home to two new housing opportunies. One will be a unique setup that more closely resembles college housing. A $37 million affordable project will offer rooms for $1,400 in furnished three-bedroom apartments, with all utilities paid. Tenants will be limited to leases ranging from three to twelve months.

The Front Porch is being developed by The Historic District Development Corporation (HDDC). Capital One put $9 million into the venture. The project will also be financed through equity, debt and grants.

The project will include 24,000 square feet of commercial space and 33 apartments (67 beds). The development will include restaurants and retail.

Additionally, Invest Atlanta has approved a Housing Opportunity Bond up to $3 million for Sweet Auburn Grande (photo), another intown project at Jesse Hill Jr. Drive and Auburn Avenue being put together by Gorman and Company. The plan calls for 109 multifamily units with about 11,500 square feet of commercial space.