KAI hires Jason Keung as project manager in Dallas-Fort Worth office

KAI is excited to announce the hiring of Jason Keung, AIA, NCARB, NCIDQ, as project manager at its Dallas-Fort Worth office.

With more than 15 years of industry experience, Keung has engaged in a diverse range of projects, clients, environments and challenges within the architectural and construction industries. His area of expertise includes designing overall concepts, developing construction documents based on clients’ needs and coordinating with consultants in the development of the design.

As a project manager for KAI Design, Keung is responsible for the internal and external success of project design, schedules, deliverables and budgets. He will act as the primary point of contact and liaison between the owner/client and design team while facilitating a collaborative team within a multi-discipline environment. He will maximize the use of resources to improve design and build collaboration, increase profit per project, and improve the value-added building strategies provided by KAI. 

Prior to KAI, his expertise included restaurant, retail and general construction. He worked as a senior project manager for ENTOS Design and as a project manager for CallisonRTKL, both headquartered in Dallas; and LBL Architects in Arlington, Texas. His portfolio of projects includes restaurants: MOD Pizza, Pie Five, On The Border, Chilis, and Red Lobster; high-end custom homes; animal shelters; Caliber Collision; and Target.

He has a Bachelor of Science in architecture from the University of Texas at Arlington. When not working, Keung enjoys spending time with his wife and two children and traveling.

Ashland Greene strengthens executive leadership for accelerated growth in the Dallas-Fort Worth market

Ashland Greene, vertically integrated Dallas-Fort Worth-based multifamily real estate investment firm, announced two strategic appointments at the executive level: CFO Keith Colvin and VP of People and Culture Jessica Gemar. The company, comprised of Ashland Greene Capital, Ashland Greene Construction, AG Living—its property management company, and Ashland Greene Impact—its 501(c)(3) social responsibility entity, is strengthening its management team as it deftly navigates fast-paced company growth in what has become one of the most lucrative multifamily real estate markets. 

Keith Colvin is a licensed CPA and CFA Charter Holder, with an extensive background in real estate.  His background includes roles at Emersons Commercial Real Estate and Satori Capital, and most recently he served as CFO of Rainier Companies, a Dallas-based commercial real estate investment sponsor and asset manager. In these positions, he has successfully built and led finance teams, managed financial reporting, accounting, audit, and tax functions, and implemented technology solutions to enhance efficiency and internal controls. 

Jessica Gemar, an accomplished human resources professional, will spearhead the company’s talent strategy to maintain an inclusive and proficient workforce. She will also oversee the human resources department for all payroll, benefits and total rewards initiatives and implementations. While also guiding the company’s learning and development program to build a world class on-boarding experience and a comprehensive training and development program for the entire organization. Gemar comes with a diverse background within commercial real estate, hospital/ healthcare operations, and more with almost two decades of experience within talent acquisition, leadership development, diversity and inclusion, organizational and cultural development and HR operations. 

As part of this leadership transition, Tyler McWilliams, who previously held the dual role of CFO/COO, will now concentrate solely on his position as COO. McWilliams’ extensive experience in operations management will remain invaluable as he oversees the company’s day-to-day operations, streamlines processes and enhances operational efficiencies across the organization.

Westmount Realty Capital welcomes new managing director of development

Westmount Realty Capital, a private national real estate investment firm with offices throughout the country, recently announced the addition of Managing Director of Development Kyle Russell.

Westmount is strengthening its growing portfolio and focus on the industrial market through the restoration of its development initiative, focusing first on the Dallas-Fort Worth area with plans to progress and broaden further development into a national footprint. Russell leads the new development initiative, bringing over 30 years of experience in development analysis, planning and execution. Russell will further bolster Westmount’s industrial development capacity, providing another capability that aligns with the firm’s solid industrial portfolio and time-tested reputation in this asset class.

Russell has managed diverse project teams, budgets, project schedule and consultant teams for timely project delivery. Prior to joining Westmount, Russell was the vice president of development management at Dalfen Industrial where he led industrial developments across Texas, Arizona, Utah and Pennsylvania. Before his time at Dalfen Industrial, he served as vice president of project management at Scannell Properties where he was the project lead in the Texas market for build-to-suit and logistics developments.

Russell is a native Texan and received his Bachelor of Architecture from Texas Tech University. He is also a member of the American Institute of Architects.

$63 million in financing secured for multifamily development in Dallas-Fort Worth area

Anthem Development, a Dallas-based multifamily developer and Nova Capital, a Los Angeles-based real estate capital advisory firm, successfully closed on a $63 million of joint venture equity and debt for the acquisition and development of Lofts iThirty, a planned 340-unit luxury multifamily property located on 10.4 acres at the Northwest corner of Broadway and Interstate 30 in Garland, Texas, one of the most active submarkets in the Dallas-Fort Worth metroplex. 

Nova Capital was exclusively engaged on behalf of the sponsor, Anthem Development, a Beck Ventures Company, to arrange financing for the development of the project, which is set to break ground this month with completion scheduled for 2025. The firm ultimately secured co-investment from an institutional joint venture equity partner with over $6 billion in capital under management and a debt facility with Bank OZK.

Lofts iThirty will feature five, four-story buildings with community amenities including two resort style pools, pet spa, pet park, game room, coffee bar, remote work lounge, outdoor kitchens, two 24-hour fitness centers totaling over 3,500 square feet, elevator access, and climate-controlled corridors and more. 

The community is conveniently located adjacent to Interstate 30, providing residents with convenient access to neighboring communities. Additionally, Lofts iThirty is designed to be pedestrian-friendly and is within walking distance of a variety of shopping, dining, and entertainment options, and will offer short commutes to major employers. 

The NRP Group breaks ground on mixed-income apartment community in Dallas-Fort Worth

The NRP Group, a vertically integrated, award-winning developer, builder and manager of multifamily housing, has officially broken ground on Ascent at Mountain Creek, a 324-unit mixed-income multifamily community located just 15 minutes outside of Downtown Dallas. Fifty percent of the units will be reserved for individuals and families earning 80% or less than the Area Median Income.

Located at 4868 S. Merrifield Road, Ascent at Mountain Creek will comprise 14 three-story, wood-frame residential buildings offering a mix of one-, two- and three-bedroom apartments. As a result of the increased resident demand for larger units to accommodate growing work-from-home preferences, den floor plans for one- and two-bedroom units will also be available. In-unit features will include quartz countertops, backlit mirrors, stainless steel appliances and walk-in closets. Community amenities will include a resort-style pool, dog park, fitness center and resident lounge that can double as workspace for remote workers. 

Located at the intersection of Highway 408 and 1-20, Ascent at Mountain Creek will offer residents easy access to bustling downtown Dallas and is in close proximity to ample retail and dining options. The community is also surrounded by rolling hills, lush forests, and hiking trails, a rarity in the Dallas-Fort Worth market, with Mountain Creek Lake less than 10 miles away. Residents will also be a 10-minute drive from a variety of healthcare, grocery, retail, and recreational offerings, including Methodist Charlton Medical Center, Target, Home Depot, Epic Waters Waterpark, Grand Oaks Golf Club, and more.

Within Ascent at Mountain Creek’s immediate vicinity is a host of employment opportunities for working professionals. Mountain Creek Business Park, a 450-acre industrial park, is home to a wide range of reputable companies, including Nestle, Ulta Beauty, and Chewy, among others. The community is also a short distance away from Dallas Baptist University, complete with 4,480 enrolled students and 132 full-time employees. 

Early lease-up of the community is expected to occur in October 2023, with a completion date slated for September 2024.

Edge Realty promotes new principal, Warren Smith

Edge Realty Partners announced that Warren Smith has been appointed a principal at the firm. Smith, who joined Edge’s Dallas/Fort Worth office in 2015, was most recently a senior vice president. He specializes in tenant representation as well as land acquisition and disposition.

Smith represents institutional residential and industrial developers along with publicly traded companies such as Public Storage, Simmons First National Bank, and Texas Roadhouse. Throughout his real estate career, Smith has completed transactions valued at over $500 million.