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MSD Partners and Lionheart offer $130m funding to build Moxy LES Hotel in New York

MSD

July 28, 2021 – MSD Partners and Lionheart Strategic Management has agreed to provide $130m funding to real estate company Lightstone Group for the construction of Moxy LES Hotel in Manhattan in New York, the US.

 

Located on the Lower East Side in Manhattan, the new 16-storey hotel with approximately 127,000ft2 of total area will include 303-rooms as well as multiple food and beverage venues.

 

The food and beverage venues will be managed by Tao Hospitality Group.

 

The new hotel will be the fourth Moxy project that is being developed by Lightstone in New York City.

 

MSD Partners managing director and Real Estate Credit co-head Jason Kollander said: “We are pleased to join Lionheart in providing financing to Lightstone in developing this new hotel property on the Lower East Side.

 

“We believe the new Moxy development will be well positioned in this dynamic neighborhood, particularly as New York rebounds from the pandemic.”

 

The $130m funding includes around $90m senior loan from MSD Partners and the remaining $40m mezzanine loan is provided Lionheart through its current credit vehicle, Lionheart Real Estate Credit Strategies.

 

Lionheart chairman Winston Fisher said: “This transaction exemplifies our commitment to the resiliency and recovery of New York City and our confidence in its tourism and hospitality industries.

 

“With Lightstone’s strong track record of successful Moxy developments in New York and across the country, we believe this project will benefit from its prime location and is well positioned to capitalize on robust leisure tourist demand that we anticipate New York City will achieve as the market continues to recover from the effects of the COVID pandemic.”

Source:- https://www.worldconstructionnetwork.com/news/msd-partners-and-lionheart-offer-130m-funding-to-build-moxy-les-hotel-in-new-york/

 
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CaroMont Health starts construction of new hospital in North Carolina

CaroMont

CaroMont Health has commenced construction of a new hospital and medical campus in Belmont, North Carolina.

 

In September last year, the organisation entered into a long-term partnership with Belmont Abbey College to build CaroMont Regional Medical Center-Belmont on land, which is owned by the college and monastic community since late 1800s.

 

The new 28-acre medical campus is part of CaroMont Health’s $300m investment in new and expanded facilities in the Gaston County over the next three years.

 

The CaroMont Regional Medical Center-Belmont will be a 265,000ft2 hospital located off Interstate 85 in Gaston County.

 

The campus will include a 66-bed hospital featuring 54-acute care beds, 12 observation beds, labour and delivery unit.

 

Other features include 16-room emergency department, robust diagnostic testing and imaging services, and operation rooms and surgical capabilities. It will also include a medical office building and parking deck.

 

Upon completion, the new hospital is expected to create nearly 150 new jobs in the region.

 

CaroMont Health Facilities and Support Services vice president Richard Blackburn said: “With the insight and guidance of medical and clinical leadership, CaroMont Regional Medical Center-Belmont has been designed with an intense focus on the patient, both their care and their experience.

 

“This medical campus, and the hospital that will anchor it, will extend our clinical network to better serve communities in the eastern part of Gaston County and continue to provide exceptional medical care to the region.”

 

CaroMont Health president and CEO Chris Peek said: “In three short years, this will be the site of so much hope and promise – where new life is welcomed, where patients heal and where the next generation of healthcare professionals find their purpose.”

Source :_https://www.worldconstructionnetwork.com/news/caromont-health-starts-construction-of-new-hospital-in-north-carolina/

 
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Artisan Real Estate reveals plans for £65m Kirkstall Place in UK

Artisan

June 11, 2021 – Real estate developer Artisan Real Estate has revealed details of its new £65m residential development in Leeds, the UK.

 

The new development, named Kirkstall Place, is said to be the company’s first project in the city. It will be constructed on a seven-acre site on the corner of Kirkstall Hill and Kirkstall Lane.

 

To be built on the former Kirkstall District Centre site, Kirkstall Place will deliver 263 homes comprising 80 townhouses and 183 apartments.

 

It will include a mix of three- and four-bedroom townhouses and one- and two-bedroom apartments with public open space and private gardens.

 

The project will be powered completely using electricity and air source heat pumps, and the car parking spaces will also have electric vehicle charging points.

 

The Leeds City Council has granted planning permission for the residential development in April and currently the demolition and enabling works are underway at the project site.

 

Construction work on the project is scheduled to commence in September this year, with completion planned in 2024. The first occupiers are expected to move in next summer.

 

Artisan North regional manager James Bulmer said: “Sustainability is a principal philosophy here at Artisan, that is why we have designed Kirkstall Place with environmental, economic and social awareness at its core to ensure we not only deliver excellent, energy efficient homes, but also create a place with a strong sense of community.

 

“We intend for Kirkstall Place to be the first of many developments that we undertake in the Leeds and wider Yorkshire region.

 

“We are currently recruiting across our commercial, technical, and sales departments as we look to scale our regional office and acquire more brownfield sites for residential development.”

Source:-https://www.worldconstructionnetwork.com/news/artisan-real-estate-reveals-plans-for-65m-kirkstall-place-in-uk/

 
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Jacobs wins contract to design $582m Royal Prince Alfred hospital expansion in Australia

Jacobs

June 11, 2021 – US-based engineering services provider Jacobs has secured a contract from Health Infrastructure to design a $582m Royal Prince Alfred (RPA) Hospital Stage 1 Redevelopment project in New South Wales (NSW), Australia.

 

The redevelopment project will expand the capacity of the existing facility to meet the growing demand for healthcare services in the community.

 

The project will involve construction of a new hospital building, refurbishment of existing spaces such as addition of more adult inpatient beds, medical imaging services, expansion of emergency department, operating theatres, intensive care unit, birthing, maternity, and neonatal services.

 

Under the contract, Jacobs’ architects will be responsible for providing the interior and exterior design for the redevelopment project.

 

Work on the project will start a year before the originally planned date.

 

The redevelopment project is fast tracked by the NSW government as part of its Covid-19 Recovery Plan to create new jobs and improve resilience.

 

Previously, the company was involved in the development of the precinct plan that included development of a sustainability strategy for an integrated health and education precinct centred around the existing RPA Hospital.

 

Jacobs executive vice president Patrick Hill said: “We’ve worked collaboratively with Health Infrastructure for more than 10 years to design world-leading, technology-forward, award winning healthcare facilities for local communities and our appointment on this project is testament to this successful partnership.

 

“Thoughtful and tactical staging of the work is critical to this project and we’ll draw on our strong relationship with key stakeholders and working knowledge of hospital operations to reduce the impacts on hospital staff, patients and the delivery of patient care.”

Source:-https://www.worldconstructionnetwork.com/news/jacobs-wins-contract-to-design-582m-royal-prince-alfred-hospital-expansion-in-australia/

 
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NCC wins contract to upgrade Kungsängsverket treatment plant in Sweden

NCC

June 11, 2021 – NCC has secured a contract worth $32.6m (SEK270m) from Uppsala Vatten to upgrade and modernise the Kungsängsverket treatment plant in Sweden.

 

The sewage upgrade project in Uppsala will help meet the growing population in the region and serve the requirements for efficient and robust sewage treatment.

 

Under the contract, NCC will be responsible for the construction of a new facility for pre-treatment which will replace an existing facility.

 

It will also include construction of two new treatment tanks in the same location as the old ones and will share a superstructure and technical installation room.

 

NCC Infrastructure business area manager Kenneth Nilsson said: “Sweden’s water and sewage plants are in major need of modernisation and the need for investment is extensive. In cooperation with Uppsala Water, we will now future-proof the city’s sewage treatment.”

 

Construction work on the upgrade project is planned to begin in September this year with completion expected in September 2024.

 

NCC stated that it has several similar ongoing projects in this field and work on this project is planned to be completed together with experts in water and environmental technology.

 

Last month, the company commenced work on MIMO property development project in Mölndal, Sweden.

 

The project, located adjacent to Mölndal travel centre and the Mölndals Galleria mall, is an approximately 40,000m2 building that will house offices, services and retail.

 

Work on the property development project involves renovation of an existing building as well as construction of a new 17-storey building, which will contain both offices and services.

Source:-https://www.worldconstructionnetwork.com/news/ncc-wins-contract-to-upgrade-kungsaengsverket-treatment-plant-in-sweden/

 
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Construction begins on $53m affordable housing development in US

affordable

June 11, 2021 – New York Governor Andrew Cuomo has announced the commencement of construction on a $53m affordable housing development in Westchester County.

 

The new project, named 62 Main, will be developed in Tarrytown and involves the reuse of the historic YMCA facility.

 

It will also include construction of an additional building to deliver 109 affordable homes for households over 55 years.

 

Being developed by Wilder Balter Partners, 62 Main will be built on a one-acre land with frontage on Main Street and Windle Park.

 

The project will involve transformation of the four-storey Main Street building, which was built in 1911, into modern apartments with several common areas.

 

62 Main will see the demolition of two additional YMCA buildings in the rear of the property and construction of a four-storey building.

 

The building will feature fitness centre, a community room with kitchen, central laundry room, an onsite management office, green roof courtyard, and one superintendent unit.

 

It will also include two levels of underground parking space for residents and a ground-level municipal parking garage.

 

It is noted that all apartments in the new housing development will be affordable to households earning 30% to 70% or less of the Area Median Income.

 

The new development is located in close proximity to the Metro North Train Station and bus stops for several Westchester County Bee-Line routes.

 

Cuomo said: “All New Yorkers deserve access to safe and affordable housing in the communities they love.

 

“The 62 Main development showcases our unwavering commitment to expanding affordable housing options across the state, including in areas where older New Yorkers on fixed incomes are struggling to find decent housing within their means.”

Source:-https://www.worldconstructionnetwork.com/news/construction-begins-on-53m-affordable-housing-development-in-us/

 
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