The $200 million plan to add significant new development to Birkdale Village has received a critical approval. The Charlotte Business Journal reports Jamestown received an okay from the Huntersville Board of Commissioners for a rezoning that will allow them to develop a 125-room hotel, 150 multifamily units, 26,715 square feet of retail space and a new, seven-story office building at the center.

Birkdale Village currently includes around 250,000 square feet of retail space, 50,000 square feet of office space and 320 apartments.

The new office building at Birkdale Village will total 175,000 square feet, including around 13,000 square feet of ground-floor retail space. The six-story apartment building is targeted for the site of the existing Dick’s Sporting Goods store. The seven-story hotel would be near Birkdale Village’s entrance off Sam Furr Road.

Belmont Village Senior Living has opened Belmont Village San Ramon, its fifth Bay Area development and 16th California community. Located at 1000 Walnut Dr., the 177-unit property was developed in partnership with Sunset Development and is located within the Bishop Ranch mixed-use neighborhood.

The development includes studio, one- and two-bedroom options for independent living, assisted living and memory care. It represents the second residential community to join Bishop Ranch and the only senior living community in the development.

“The opening of Belmont Village San Ramon is a testament to our mission to create vibrant, supportive communities where seniors not only receive best-in-class care but truly feel at home,” said Patricia Will, founder and CEO of Belmont Village Senior Living.

Added Alex Mehran, Jr., president and CEO of Sunset Development, “The influx of new residents, including those at Belmont Village, underscores how San Ramon is evolving into a premier destination not only for families but also for seniors seeking a luxury living experience that offers both tranquility and easy access to the greater Bay Area.”

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.

Marathon Asset Management’s commercial real estate platform has originated a $120-million construction loan for 125 Perry St., a high-end residential development in Manhattan’s West Village. A Marathon’ team led by managing director Joseph Griffin, closely worked with sponsor Alf Naman Development and its preferred equity partner, Ascendant Capital Partners, to structure and originate the construction loan.

“We are proud to play a role in the revitalization of 125 Perry St. and will continue to provide lending solutions across asset classes and geographies through a combination of proprietary network relationships, deep property-level experience, and differentiated market intelligence,” said Griffin.

The development involves the adaptive reuse and conversion of a historic, four-story, 1930s vintage parking garage into a seven-unit ultra-luxury condominium. Contracts have already been signed for nearly 60% of the units. Completion of the project is expected for 2026.

Rendering courtesy of Sciame Construction.

The owners of Birkdale Village in Huntersville want to add office space, a hotel, apartments and expand the retail offerings. A development group made up of North American Properties, Jamestown and Nuveen Properties is hoping to get a zoning change that will allow them to change the current plan and build a $180 million expansion.

The Charlotte Business Journal reports the details include a 125-room hotel, 150 multifamily units, 122,300 square feet of office space and 26,715 square feet of retail space.

The office building, which includes ground-floor retail space, would be developed at the site of an existing Barnes & Noble store. The 150-unit multifamily building is being planned for the current site of Dick’s Sporting Goods at Birkdale Village. The hotel would be across from the office building.

Birkdale Village is currently 100% occupied and includes around 250,000 square feet of retail space, 50,000 square feet of office space and 320 apartments.

Belmont Village Senior Living and Greystar Real Estate Partners have broken ground on Belmont Village Rancho Santa Fe. This marks Belmont Village’s fourth community in the San Diego area and its 17th in California since its founding in 1997. It’s also the second partnership between Belmont Village and Greystar, following their La Jolla community launched in 2022.

“Belmont Village has always been committed to providing unparalleled living experiences for our residents, and this groundbreaking marks another step in that mission,” said Patricia Will, founder and CEO of Belmont Village. “As a resident of Rancho Santa Fe, I am personally invested in bringing this exceptional community to life.”

Located inside the gated Lakes at Rancho Santa Fe community, the new Belmont Village will provide 185 independent living, assisted living and memory care residences, including 15 private cottages. Construction is slated to begin in December, with completion expected in late 2026.

Savanna said Tuesday it had acquired 799 Broadway, a 12-story, 176,588-square foot, Class-A office in Greenwich Village. The investment manager acquired the distressed office property from Columbia Property Trust and Cannon Hill Capital Partners at a deeply discounted $255 million, through a lender-controlled sale process administered by Blackstone.

799 Broadway was delivered in 2022, making it one of the newest buildings in New York City. Located at the intersection of Broadway and 11th Street, south of Union Square, the property is 71% leased with an 11-year WALT for current tenants.

Kerry Powers, managing director with Savanna, said the property was “representative of the opportunities Savanna continues to pursue, acquiring some of the very best real estate in New York City at extraordinarily discounted prices given the current turbulence in the market.”

Both Savanna and the seller were represented by an Eastdil Secured team led by Gary Phillips and Will Silverman.

A development team of Griffin Brothers Property Services and Quore Real Estate Advisors is trying to get the city of Charlotte to rezone 24 acres in Brookhill Village along Remount Road at the edge of South End. The zoning designation would give the firms the opportunity to plan and develop a mix of uses there that will likely include commercial, retail and additional multifamily.

The Charlotte Business Journal reports the Griffin Brothers and Quora spent the last 1.5 years clearing the site of vacant residential units and rehabilitating the remaining 100 units.

20 of the renovated units will be used as transitional housing for families and individuals experiencing risk of homelessness.

Brookhill Village is an affordable housing community owned by Brookhill Land Lease Ventures. A 99-year ground lease ends in 2049 when the property and everything on it reverts to original ownership. Griffin Brothers assumed ownership of the land lease in March 2022.

Belmont Village Senior Living and Greystar Real Estate Partners, LLC will develop Belmont Village Rancho Santa Fe, a luxury senior housing community within the gated Lakes of Rancho Santa Fe master-planned community. Groundbreaking is expected before year-end. Located at 16202 Sunny Summit Dr. in Rancho Santa Fe, the project will feature more than 185 apartments, including 15 freestanding cottages.

Jerry Brand, executive director of Greystar Development and Construction Services, and Belmont CEO Patricia Will are both long-term residents of Rancho Santa Fe. Following the success of their initial collaboration, Belmont Village La Jolla in 2022, Brand and Will are bringing their expertise to their hometown.

“Simply put, this is the project where I expect to live,” said Will. Belmont Village Rancho Santa Fe will be Belmont Village’s fourth community in the San Diego area and 17th in California since 2002. The company benefits from a relationship for program development with UCSD’s Stein Center for Research on Aging.

Pictured: Patricia Will and Jerry Brand.

Merrimack Village LLC has acquired Merrimack Village Center, an 82,292-square-foot neighborhood shopping center in Merrimack, NH., from CP Merrimack LLC for $16.6 million.  

The center, constructed in 2006 on over 10 acres, is located adjacent to Everett Turnpike. The property was 99% occupied at the time of the sale, with tenants including Shaw’s, the State of New Hampshire liquor store, and McDonald’s. 

Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and facilitated the transaction with the buyer. “The property generates a risk-averse stream of revenue as 80% of the space is occupied by the Shaws grocery store, the State of New Hampshire liquor store and a McDonalds,” said Jim Koury, the IPA senior managing director who led the marketing process.