Granite Properties and Highwoods Properties announced the opening of 23Springs in Uptown, a mixed-use neighborhood in Dallas. At 63 percent leased pre-opening, the 641,563-square-foot development features a Class-AA, 26-story, 625,215-square-foot office tower, two freestanding restaurant buildings totaling approximately 16,348 square feet and a half-acre park. The project is at the corner of Maple Avenue and Cedar Springs Road.
23Springs tenants include Sidley Austin LLP, Savills and Bank OZK. Commercial Edge reports that Bank OZK provided $265 million in construction financing for the development.
23Springs is the tallest office building in Uptown. Designed by GFF and constructed by DPR Construction, its amenities reflect the expectations of the modern workforce and include an indoor lounge with a golf simulator, a large conference center and boardroom, a 4,500-square-foot fitness center, and a lobby that features the largest interactive indoor video wall in Dallas.
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The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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