Rowan University Building a $47 Million New Academic Building
Construction is resuming on a new building at Rowan University in Glassboro, N.J. The new academic building, named Discovery Hall, will house the University’s School of Earth and Environment and its College of Science and Mathematics. The $47 million project will add 67,560 square-feet of classroom and laboratory space to the campus and is set to open in winter 2021.
Developer Nears Completion on $65 Million Refurbishment of Manhattan Building
A former pork and poultry storage warehouse in lower Manhattan is nearing completion on the renovation which will transform it into a boutique office building. The lead developer, Aurora Capital Associates, has sunk $20 million into adding an additional three stories and 15,000 square-feet of commercial space onto the three-story, 32,000 square-foot building. Updates to the building include a new lobby, new elevators, new storefronts, upgraded utilities, and an updated façade. The total cost of the project, including the 99-year lease signed by Aurora, will total $65 million.
Hawaiian Developer Sells 46 Acres in Maui for $44 Million
Maui Land & Pineapple Co. (ML&P) has reached an agreement to sell 46 acres of land at its Kapalua Resort in Maui, Hawaii for $44 million to KCRMD LLC, a Delaware-based firm. This sale was a part of ML&P’s greater project, Kapalua Central Resort, which would transform the land into 61,000 square-feet of commercial space and 188 condo and multifamily residential units. The project is expected to be completed between 2020 and 2039.
Main Street of Colorado Town to be Revitalized with 70,000 SF of Commercial Space
Los Angeles-based architecture firm KTGY Architecture + Planning has recently revealed details for its design of Main Street in downtown Superior, Colo. The project will include 73,000 square-feet of commercial space, 446 residential units, a parking garage, and more than 7,000 square-feet of civic space. While the greater project’s construction costs are currently unknown, the project is expected to be completed by Q3 2022.
New Plans Unveiled for Redevelopment in Chicago Suburb
New plans have been released for a development project happening in Naperville, Ill. outside of Chicago. The new plans for the 13-acre development near the city’s Fifth Avenue train station calls for 15,000 sqaure-feet of retail space, 60,000 square-feet of office space, 30,000 square-feet of health and wellness space, and 292 residential units, 24% of which will be reserved for affordable housing. The project’s estimated construction costs and timeline are currently unknown.