Deal Profile: Pueblo at Paseo

Three new buildings, with 7,553 square feet of retail space on 0.41 acres, bracket a small plaza that replaced a vacant lot at the edge of an established retail area north of downtown Oklahoma City. The three restaurants and eight studio/office spaces complement the area’s established arts anchors.

Deal Profile: The Newton

The Newton is an 18,599-square-foot (1,727 sq m) mixed-use retail, dining, office, and events building in Uptown Phoenix, Arizona, housing an independent bookstore with a beer, wine, and coffee bar; a home and garden store; a chef-led restaurant; a small office; and spaces for meetings and events. The Newton hosts hundreds of events each year, whether sponsored by its tenants or booked by the public. It was built within a renovated restaurant/banquet facility whose mid-century modern architecture and old-fashioned cuisine made it a local landmark for 40 years.

Sino‐Ocean Taikoo Li Chengdu

Sino‐Ocean Taikoo Li Chengdu is a retail-driven mixed-use project that weaves old and new, global and local, low-rise and high-rise, and religious and commercial uses into a pedestrian-centered urban fabric within a growing central Chinese city. The 18.25-acre site includes more than 300 retailers within 1.14 million square feet of retail space, a 335,000-square-foot boutique hotel with 100 rooms and 42 serviced apartments, and a 1.3 million-square-foot, 47-story office tower—all wrapped around an ancient Buddhist temple, six adaptively reused heritage buildings, and three on-site plazas. The Leadership in Energy and Environmental Design (LEED) for Neighborhood Development Gold-rated community brought over 110 new retailers to the market.

City Market at O

City Market at O is a 3.5-acre development on two city blocks in the heart of Washington, D.C.’s historic Shaw neighborhood. Home to the only grocery store in the neighborhood, the development features multifamily rental housing, senior housing, retail and restaurants, open spaces, and a hotel. In the 19th century, the site accommodated a public market, which City Market at O seeks to emulate. City Market at O blends seamlessly into its walkable neighborhood, giving its residents access to many amenities within the development along with easy access to downtown, nearby restaurants, and the Metro. Through a mix of private and public financing, City Market at O has been able to draw together many different interests in this project, propelling a course of redevelopment in this once-struggling neighborhood. A working partnership with the community during the planning phase helped ensure that the project would properly serve existing neighbors while drawing new residents to both its luxury and affordable housing offerings. The dialogue between developers and neighbors on City Market at O resulted in a new development that reinvigorated a historic neighborhood.

Encore

Encore is a mixed-use, mixed-income redevelopment of what had been public housing just north of downtown Tampa, Florida, developed by a partnership between a housing authority and a bank-owned community development corporation. Encore currently comprises four apartment buildings with a total of 662 units of housing, 559 of which are affordable to seniors and family households with low incomes. At full buildout, the LEED for Neighborhood Development Gold–rated community will have up to 1,513 housing units, plus 180,000 square feet of office space, 200 hotel keys, and a 36,000-square-foot grocery on its 12 city blocks. Over eight years, the $425 million investment will create 5,000 construction jobs and 1,000 permanent jobs on a site that previously supported only 18 jobs. Encore uses innovative and efficient districtwide approaches for stormwater management and cooling.

The Newton

The Newton is an 18,599-square-foot mixed-use retail, dining, office, and events building in Uptown Phoenix, Arizona, housing an independent bookstore with a beer, wine, and coffee bar; a home and garden store; a chef-led restaurant; a small office; and spaces for meetings and events. The Newton hosts hundreds of events each year, whether sponsored by its tenants or booked by the public. It was built within a renovated restaurant/banquet facility whose midcentury modern architecture and old-fashioned cuisine made it a local landmark for 40 years.

Avalon

Avalon is a mixed-use town center that, in its first phase, includes retail, restaurant, multifamily rental housing, single-family for-sale housing, and office uses surrounding a main street and a central plaza. A second phase will add a hotel and conference center as well as additional retail, multifamily rental housing, and office space. The 2.3 million-square-foot project is located in an affluent northern suburb of Atlanta on an 86-acre site. A previous developer had planned a similar concept for the site in the mid-2000s era but was unable to execute the development.

Downtown Storrs

Storrs Center created a new, mixed-use downtown for the town of Mansfield, Connecticut, replacing a small shopping center adjacent to the University of Connecticut. Its 11 mixed-use buildings house 626 rental apartments and 139,707 square feet of retail and office; 42 for-sale townhouses and condominiums are also on the site. New retailers, such as a supermarket, restaurants, medical center, and bookstore, create an eclectic college-town atmosphere, while a half-acre town square and 20 acres of nature preserves provide places for gathering and recreation.

The project was initiated by a partnership between the town, the university, and local business leaders. Master developer LeylandAlliance, together with apartment developer Education Realty Trust (EdR), built the $169 million retail and residential development, while the town used over $25 million in grants for on-site infrastructure and planning. Storrs Center was a finalist for the ULI Global Awards for Excellence in 2015.

AF Bornot Dye Works

AF Bornot Dye Works is a loft apartment and retail project in central Philadelphia that involved the adaptive use and restoration of three timber and concrete factory buildings. Located along Fairmount Avenue, one mile north of Philadelphia’s City Hall, the surrounding Art Museum area is one of Philadelphia’s hottest submarkets, accounting for one-fifth of Center City’s new housing in 2015. The four-story buildings include 17 rental residences on the upper levels and 13,210 square feet of retail space across two lower levels, which has been preleased to neighborhood-serving tenants. In undertaking the project, developer, MMPartners, built upon 15 years of experience renovating and building scores of residential and retail properties in nearby Brewerytown. The $10.7 million development was funded through a combination of conventional loans, federal and state historic tax credits, city incentives, partner equity, and a $375,000 mezzanine loan from an online crowdfunding platform.

Legacy Village

Legacy Village is one of northeast Ohio’s first open-air lifestyle shopping centers. The 613,000-square-foot (56,948-square-meter) project includes approximately 550,000 square feet (51,095 square meters) of retail space on the first and second floors of seven separate buildings, as well as almost 20,000 square feet (1,858 square meters) of office space on the third floor of one building. The project owes its success to several factors Including a site design and hardscape features that lessen the impact of Cleveland’s cold, snowy winters, and the synergy both among retailers within Legacy Village and between Legacy Village and a nearby regional mall. Seventy percent of the center’s retailers are new to the market, and the project has paved the way for other open-air shopping centers in the Cleveland area.