Latest news with #mixeduse
Yahoo
8 hours ago
- Business
- Yahoo
A mixed-use development is under construction at former Virginia Beach elementary school site
The 12-acre site where Linkhorn Park Elementary School was located for more than four decades is transforming into a mixed-use development. The Canopy, a nearly $80 million project consisting of residential, retail and office space, is under construction on Laskin Road near the Hilltop shopping district in Virginia Beach. 'It's a really big legacy project for us,' said Christen Faatz, senior vice president of corporate finance and accounting for The Franklin Group. 'We're really excited to see it come to life, come out of the ground and come alive. We've been working on it for almost four years at this point.' The project began in 2021 in response to a city request for proposals, followed by the demolition of the old school building, Faatz said. The company bought the site last year for $7 million. The finished project is slated to have 132 apartments, 10,000 square feet of ground-level retail space and 50,000 square feet of office space. The apartments — featuring 40 one-bedroom, one-bath units; 60 two-bedroom, two-bath units; and 32 three-bedroom, three-bath units — are anticipated to be complete by February. The first move-in should be in March, Faatz said. Amenities include a resort-style infinity pool, two pickleball courts, an event lawn at the rear of the building, a covered cabana with an outdoor kitchen, fire pits, walking trails, a fitness center and electric vehicle charging stations. Various businesses, including a fast-casual restaurant, fitness studio and a coffee shop, have expressed interest in leasing the retail space beneath the apartments, she said. A 1-acre outparcel, on the corner of Laskin Road and Winwood Drive, will also be available for development and lease. An additional stoplight will be placed at that intersection as part of the project. The five-story tower, with roughly 10,000 square feet of office space on each floor, will be built on the easternmost corner of the property — starting in late 2026 or early 2027 — once the apartments are leased and stabilized. The Franklin Group plans to move its corporate headquarters into 30,000 square feet within the tower in early 2028. The other 20,000 square feet will be available for lease, she said. The company currently occupies 18,000 square feet within the Sidney Kellam Building developed by Gold Key/PHR on 32nd Street in Virginia Beach. 'Gold Key has been really wonderful partners since we started in 2013,' Faatz said. 'We've grown and grown and grown and taken up almost two full floors now and we just need additional space eventually.' The Franklin Group now manages close to 38,000 apartment units in 11 states. Its continued growth will lead to more hiring, she said. Sandra J. Pennecke, 757-652-5836,
Zawya
20 hours ago
- Business
- Zawya
Saudi Arabia's NCP announces major PPP projects in Makkah and Dammam
Saudi Arabia's National Centre for Privatisation & PPP (NCP) has announced two major Public-Private Partnership (PPP) opportunities in Makkah and Dammam involving healthcare, retail, and mixed-use projects as part of the Kingdom's Vision 2030 agenda. Makkah: Healthcare and commercial hub PPP NCP and the Holy Makkah Municipality has initiated the Expression of Interest (EOI) and Request for Qualification (RFQ) process for joint development project on Prince Sultan bin Abdulaziz Road (Makkah–Alhada). The project aims to convert a 219,416-square-metre (sqm) government-owned plot, with direct access to Al Haram and other key landmarks, into a mixed-use healthcare and commercial zone. The RFQ was issued on 26 June 2025, with submissions due by 27 July 2025. Structured as a Build-Own-Operate-Transfer (BOOT) model with a 30-year concession, the scope includes: Financing, constructing, and operating a 200-bed long-term care hospital, a 100-bed multi-specialty hospital, a regional shopping mall and big-box retail spaces Leasing, operations, and facilities management Transferring the project to the Holy Makkah Municipality at the end of the contract Dammam: King Fahd Suburb Boulevard PPP NCP and the Eastern Province Municipality has initiated the Expression of Interest (EOI) phase for King Fahd Suburb Boulevard, a sprawling 1,000,000-sqm mixed-use project located in the King Fahd Suburb of Dammam. The two-phase project aims to transform government-owned land and commercial plots owned by Ashraq Development Company, the development arm of the Eastern Province Municipality, into a mixed-use destination featuring parks, recreational areas, retail, hospitality, and office spaces. The EOI notice was issued on 25 June 2025, with submissions due by 16 July 2025. The project is being procured under a Design-Build-Finance-Operate-Maintain-Transfer (DBFOMT) model, and its scope encompasses: Develop, operate and maintain commercial, leisure, retail, hospitality, and entertainment facilities Integrate walkways, sports zones, and sustainable, community-focused features Additionally, revenue-sharing agreements will be established between the developer, Ashraq, and government entities, with full asset handover to the public sector at the end of the 30-year concession. (Writing by SA Kader; Editing by Anoop Menon) (
Khaleej Times
a day ago
- Business
- Khaleej Times
Dubai: Palm Jebel Ali to get more residential, hospitality units
Palm Jebel Ali will get upscale residential and hospitality offerings, in Dubai Holding's first land sale with a third-party developer at the iconic destination. A large-scale project will also be developed at Dubai Design District (d3), with the area serving as a vibrant mixed-use community, seamlessly blending culture, innovation and contemporary urban living. This comes as part of a strategic agreement between Dubai Holding and Select Group, along with its long-standing JV partner Emirates Strategic Investments Company LLC (ESIC). Design and planning phases for both projects are underway, with further details regarding project specifics and timelines to be announced soon. Palm Jebel Ali's seven islands span 13.4km and feature 16 fronds and over 90 kilometres of beachfront, marking the beginning of a new growth corridor in the Jebel Ali area. The landmark development is designed with several mixed-use pedestrian-friendly neighbourhoods offering panoramic views of the Arabian Gulf. d3 is a global creative ecosystem and the destination of choice for design talent from around the world. Offering stunning views of the Dubai skyline including the iconic Burj Khalifa, d3 reinforces Dubai's status as the first city in the Middle East to be designated a UNESCO Creative City of Design. Khalid Al Malik, CEO of Dubai Holding Real Estate, said: 'Palm Jebel Ali is an iconic development poised to elevate Dubai's global reputation as a premier waterfront destination. By joining forces with Select Group, we are delivering on the leadership's vision of creating a world-class coastal destination that sets new standards in luxury residential and hospitality experiences." Rahail Aslam, Chairman of Select Group, added: 'We are incredibly excited about what we will be bringing to market in both Palm Jebel Ali and d3 – two unique locations that align perfectly with our brand ethos of waterfront location, quality, sophistication and long-term value creation.' This strategic deal forms a continuation of Select Group's deliberate expansion into high-impact, design-forward projects that meet the needs of a new generation of global residents and investors seeking immersive environments that go beyond the conventional definitions of luxury. Select Group has a distinguished track record that includes The Palm, Dubai, Peninsula in Business Bay and the newly launched Six Senses Residences Dubai Marina.
Zawya
a day ago
- Business
- Zawya
Seef Properties signs MoU with Saudi-Based AWJ Real Estate
Manama, Kingdom of Bahrain: Seef Properties, one of the leading real estate development companies in the Kingdom of Bahrain, has announced the signing of a Memorandum of Understanding (MoU) with Saudi Arabia's AWJ Real Estate to jointly develop a mixed-use project in Riyadh. The project will be located within the Al Rabwa development in Riyadh, one of AWJ Real Estate's flagship projects in the Saudi capital. Spanning approximately 160,540 square meters, the project is envisioned as an integrated urban destination. It will feature family entertainment centers, restaurants and cafés, office spaces, and residential units — all developed according to the highest standards of sustainable urban planning. Under the MoU, Seef Properties will assume the role of developer and strategic partner, while both companies will collaborate on the framework for planning, designing, and executing the project, paving the way for a long-term strategic partnership. On this occasion, Mr. Ahmed Yusuf, CEO of Seef Properties, stated: 'The Saudi market presents substantial opportunities with its continued growth and dynamic landscape, making it a promising environment for value-added real estate developments. This agreement marks a pivotal step in our regional expansion strategy. We are committed to delivering a distinguished project that leverages our proven track record in developing and managing commercial and entertainment destinations, aligns with the evolving needs of the Saudi market, and contributes to Riyadh's urban development.' Mr. Abdulaziz Al Mosa, CEO of AWJ Holding, added: 'We are pleased to welcome a leading Gulf-based company like Seef Properties into the Saudi market through this landmark initiative — a step that reflects growing investor confidence in the Kingdom's business environment. The project is situated within Al Rabwa, a development that has already delivered over 3,000 residential units in earlier phases through partnerships with prominent Saudi developers. The upcoming phases are set to deliver more than 7,000 additional and diverse residential units. The project will be a strategic addition to a growing portfolio of developments in Al Rabwa, including the previously announced 'Al Rabwa Boulevard,' the '7' entertainment project by SEVEN, and other high-impact developments to be unveiled soon.' Seef Properties' portfolio includes several prominent projects such as the Seef Malls, Al Liwan, Fraser Suites, and Seef Entertainment. The company is active in the development and management of a diversified real estate portfolio across retail, entertainment, and hospitality sectors. AWJ Holding is recognized as one of Saudi Arabia's leading real estate investment and development firms. The company manages a dynamic portfolio encompassing retail, mixed-use developments, hospitality, and commercial facilities across the Kingdom. About Seef Properties: Seef Properties B.S.C. was established in the year 1999 and is a public shared company listed on Bahrain Bourse since 2007 with its operations headquartered in the Kingdom of Bahrain, becoming a leader in the retail, hospitality, entertainment and real estate development sectors on the level of the Kingdom. Today, Seef Properties manages a large portfolio of assets, promoting its position as a distinguished commercial brand. The vision of Seef Properties is centered to its constant strives to become a leading real estate company in innovation and diversity, driven by the implementation of the highest standards and values to achieve its goal in excellence, and the satisfaction of shareholders, partners and clients. The Company's message is centered to the development, acquisition and management of a real estate investment portfolio that serves the retail, entertainment and hospitality sectors.
Yahoo
3 days ago
- Business
- Yahoo
Turner expands to Phase 1 on $5B One Beverly Hills project
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Award: Phase 1 of One Beverly Hills mixed-use project Value: Undisclosed, total project value $5 billion Location: Beverly Hills, California Client: Cain International and OKO Group Turner Construction is getting a bigger piece of an already large pie. The One Beverly Hills project in California has tapped the New York City-based firm as the contractor for the first phase of the project, according to a Turner news release. The Phase 1 contract value was not disclosed, but overall project value is approximately $5 billion, according to the Los Angeles Times. When the project broke ground last year, Turner led overall site management for the mixed-use development, which will include two, 28-story skyscrapers with fewer than 200 uber-luxury condominiums branded by high-end resort and destination firm the Aman Group of Switzerland. The 17.5-acre development at Wilshire and Santa Monica boulevards in the heart of Beverly Hills will also include a new, 10-story luxury Aman Hotel with 78 guest suites and a standalone, 100,000-square-foot Aman Club with expansive wellness facilities, according to a news release from London-based investment firm Cain International. In March 2024, the project secured an additional $2 billion in construction financing, including a $500 million senior loan from JP Morgan, among other private financing commitments, according to Cain. Miami-based OKO Group is developing the site, while Toronto-based Adamson Associates Architects is serving as executive architect. Singapore and Australia-based Kerry Hill Architects is designing the Aman-branded properties. London-based architecture and engineering firm Foster + Partners master-planned the property. In addition to the towers, hotel and club, the iconic Beverly Hilton — home to the Golden Globes — will also receive a comprehensive redesign led by London-based David Collins Studio. Ten acres of botanical gardens will link the property with the Waldorf Astoria Hotel, according to Cain. 'We are thrilled to work on this iconic project,' said Reed McMains, vice president and general manager at Turner. 'One Beverly Hills will usher in the next exciting chapter in Beverly Hills' remarkable history.' Turner said the project will create more than 2,500 construction jobs. Construction is expected to be completed in late 2027. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
