Bank OZK Gives $60 Million in Construction Financing for Building in Boston
Bank OZK has provided $60 million in construction financing for the development of a large life science building near Boston. The 140,000 square-foot property, developed by Lincoln Property Company and MetLife Investment Management, will offer laboratory space across four stories. The project is slated for a completion date in 2021.
Construction Underway on New 23-Story Residential Building in Brooklyn
Construction is progressing on a new rental building in Downtown Brooklyn. Developed by local Lonicera Partners, the project will yield a 23-story building featuring 160 residential units. Not much has been disclosed about the building’s amenities or its estimated construction costs. The building is expected to open in winter 2021.
W&D Offer $23 Million in Financing for Residential Community in New Orleans
Walker & Dunlop, a Maryland-based real estate financing firm, has provided $23 million in Freddie MAc financing for the development of The Reveal, a 150-unit affordable housing complex in New Orleans. Once completed, the community will feature amenities including conference rooms, a community room, a fitness center, and a 1,745 square-foot business incubator.
County Commissioners in Georgia Approve 1M+ SF Mixed-Use Project
Commissioners in Forsyth County, Ga. have voted to give the green light to a proposed mixed-use project. Once completed, the development will feature 907,550 square-feet of commercial and industrial space and 88 residential units. Construction will cost between $85 million and $90 million. The project’s estimated completion date is currently unknown.
Mixed-Use Project Underway Near San Francisco
The City of Pittsburg, Calif. will hold a groundbreaking ceremony for a new mixed-use building being developed near the city’s BART station. The project, titled The Atchison, will include 202 residential units and feature more than 13,000 square-feet of commercial space. The complex will also include amenities like a pool, playgrounds, a gym, and a lounge area. The project’s estimated construction costs and completion date are both unknown.