Friday, July 16, 2010

South Weymouth Naval Air Station: SouthField


South Weymouth Naval Air Station was a United States Navy air field that started operations in 1942 and became established as a Navy blimp base during World War II. It closed in 1997 after the Base Realignment and Closure Committee of 1995 recommended it to be eliminated.

Although talk of redevelopment of the base started immediately after its closure – after 13 years – the first dirt is about to be turned for the construction of the East-West Parkway that will support the development.

The 1,500 acre mixed-use development of the airfield, located 13 miles south of Boston, will include over 2 million sq ft of retail and office space, 2,800 homes, public parks, a golf course, as well as a $100 million film studio. Total investment is estimated to be $1.5 billion.

This will be an interesting project to watch.  This certainly is not the first air base to be closed (or redeveloped) as part of the "peace dividend" but there are many of these sites across the US that are available for redevelopment and likely would be catalysts for those communities impacted by the loss of jobs from these closed government facilities.  There is a lot to this redevelopment and I will add another post to talk about the details in the coming weeks.  For an overview - see the SouthField website:  SouthField 

Here is the article about the development from the Boston Globe:

Frommer's New England (Frommer's Complete)Guide to Military Installations

Thursday, July 15, 2010

Downtown Columbus: Just Add Employees



Nationwide Insurance announced today they will be moving 1,400 employees from Dublin to Downtown Columbus.  This is part of a commitment Nationwide Realty Investors has made to help garner additional support for the Grandview Yard project (see previous post Grandview Yard Update) via a tax increment financing package.

Read the Business First article here:
Nationwide Bringing 1,400 Job to Columbus

Columbus Dispatch article here:
Nationwide to move 1,400 jobs Downtown

9/8/2011 Note:  The original content of this post incorrectly stated that the Dublin Nationwide jobs would be moving to Grandview Yard.  The above reflects the correction.  It was recently announced that Nationwide will be moving those employees into a new building that will be constructed at the corner of  North Front Street and Nationwide Boulevard. 

Wednesday, July 14, 2010

EuroMediterranee

This is a massive urban development/ redevelopment in Marseille, FranceThe information is overwhelming but here are a few stats:
~  Almost 1,200 acres of total development
~  10 million sq ft of office and business space
~  2 million sq ft of retail
~  18,000 housing units
~  Seven Billion Euro investment.
~  50 acres of green and public space 

There are several international architects contributing to the project.

The website can be viewed here (in French or English):  EuroMediterranee 


Here is a excerpt from the website: 
Created by leading international architects such as Zaha Hadid, Jean Nouvel, Massimiliano Fuksas and  Rudy Ricciotti, these structures promote the transformation and attractiveness of the Euroméditerranée hub, while their sustainable designs complement Notre Dame de la Garde and the Cathedral de la Major.


The CMA CGM Headquarters Tower makes a bold statement. Designed by Zaha Hadid, the 33-floor building of glass, concrete and steel is 148 meters high. By late 2009, the 55,000 square meter office will host the 2,700 employees of France’s largest (and the world’s third-largest) shipping company.

The Arenc Grain Silo, an important vestige of Marseille’s industrial history, will be transformed into a 2,000-plus seat theater, inspired by the Olympia in Paris, and office space designed by Eric Castaldi and Roland Carta.

The Museum of the Civilization of Europe and the Mediterranean (MuCEM), the first great national museum created by the French Government outside of Paris, is a complex technological challenge. Developed by Rudy Ricciotti and Roland Carta, it is a 19-meter tall cube. The concrete latticework exterior reflects an Asian influence, and is designed to protect the collections inside from the sun. On the J4, the MuCEM is connected by a bridge to Fort Saint-Jean, which has been renovated to host temporary exhibits.

The Regional Center for the Mediterranean (CRM) Of bold architecture, this facility created by Stefano Boeri is designed in the shape of “C,” with a lower part submerged and a 40-meter door overhang in its upper part (the largest door overhang in Europe). This site for artistic creativity will host major events, seminars and exhibitions on culture, economy, environment, heritage, urban planning and other themes.

Les Terrasses du Port. The flagship of the Cité de la Méditerranée, the Terrasses du Port, is a veritable oasis within the city. Created by Michel Petiaud-Letang, this facility features a 40,000 square meter retail area, a 13,000 square meter esplanade that is open to the sea, and promenades with cafes, restaurants, fitness facilities, a pool and even a stadium for beach soccer. The construction of a 3,000-space underground parking facility is also planned, along with a large indoor mall built perpendicular to the Docks building.

Euromed Center will cover 70,000 square meters and house a convention center, a four-star Marriott hotel and a 3,000 seat movie multiplex designed by Massimiliano Fuksas and operated by the French filmmaker/director/producer Luc Besson. The architect designed a site that reflects the imagination of Besson, whose passion for the sea is well known. GORE-TEX fabric stretches over large metal structures, evoking the silhouettes of dolphins and other forms gently eroded by water and wind.

The Arenc Quays, a project initiated by the real estate group Constructa, includes a housing complex of four buildings, each designed by leading architects from different backgrounds: Jean Nouvel, Yves Lion, Roland Carta and Jean-Baptiste Pietri. Two high-rise, luxury residential buildings (114 and 99 meters high) and two office buildings, one a tower 135 meters high, will create a bustling neighborhood with an indoor street featuring many shops on the ground floor. The four buildings, classified HEP (High Energy Performance), will also house state of the art office space.

Jean Nouvel by Jean Nouvel: Complete Works 1970-2008Zaha Hadid: Complete Works, 1979-2009Marseilles Pocket Guide, 2nd (Thomas Cook Pocket Guides)
 

Tuesday, July 13, 2010

Grandview Yard Update


Grandview Yard is located just west of downtown Columbus. The site was home to several warehouses and corporate offices for Big Bear – a large regional grocery player headquartered in Columbus for almost 75 years. In 2004, Penn Traffic, the owner of Big Bear since 1989, closed all stores and exited the Columbus market. Grandview Heights – a bedroom community known for its neighborhoods and lively “downtown” Main Street lost quite a bit of tax revenue when Big Bear and its corporate jobs left Columbus. After years of planning – Grandview Yard is rising in its place.

Grandview Yard will be a mixed use development and will include a minimum of 1.5 million square feet of retail and office space and 600 – 800 residential units on approximately 80 acres. Tenants that have committed to Phase 1 of the project include Urban Active Fitness, Hyatt Place Hotel, Jason’s Deli, M+A Architects as well as the Buckeye Hall of Fame Grill – a new restaurant concept licensed through The Ohio State University.

Nationwide Realty Investors and Capital Square Ltd have joint ventured to develop the private, $500 million development that is slated to open September 1st of this year.  MSI Design provided master planning for the entire 80 acre site.

Learn more about Grandview Yard from their website here:
Grandview Yard

Read Shopping Center Business article here:

And a Columbus Underground update on the Hyatt Place Hotel here:
Hyatt Place Hoists Sign Over Grandview Yard

And for a location of the project:


Urban Development: The Logic Of Making PlansUrban Development: Theory, Fact, and Illusion

Saturday, July 10, 2010

Mall Operator General Growth Has Deal for New Barclays Bankruptcy Loan

is the second largest mall operator in the nation and the owner of several properties we will chronicle in this blog including The Shops at Fallen Timbers we discussed in Part 1 of Ohio Lifestyle Centers.  General Growth Properties

Read article here from Bloomberg:
New Loan For GGP 

Real Estate Finance and Investment Manual