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Aventon-Eva
DevelopmentFloridaMultifamilySoutheast

Aventon Breaks Ground on 270-Unit Residential Development in Tampa

by Abby Cox

TAMPA, FLA. — Aventon Cos. has broken ground on Aventon Eva, a 270-unit multifamily development located at the intersection of Little and Decubellis roads in Tampa. The developer will begin leasing the three-story, garden-style complex in July 2027. Aventon Eva will offer one-, two- and three-bedroom floorplans, as well as a resort-style swimming pool, clubhouse with dedicated remote workspace, pet spa and a 24/7 fitness center. The property marks Aventon’s third ground-up community in the Tampa Bay region.  The project team includes Cormia Design (architect) and Studio 5 Interiors (interior designer).

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McFarland-Farms
AcquisitionsDevelopmentMultifamilySoutheastTennessee

Alliance Residential to Develop 312-Unit Apartment Community in Mt. Juliet, Tennessee

by Abby Cox

MT. JULIET, TENN. — Alliance Residential has purchased 10 acres within McFarland Farms, a 110-acre mixed-use project in Mt. Juliet, approximately 17 miles east of Nashville. The Scottsdale, Ariz.-based developer plans to build a 312-unit apartment community on the site. Eric Deems and George Schubert of Atlanta-based Land Advisors Organization represented Alliance Residential in the land transaction. Further details of the multifamily development were not released. In addition to the new apartments, McFarland Farms will include a town center that compromises a mix of 184 townhomes and 175 single-family homes, as well as 35,000 square feet of commercial space for restaurants, retail and entertainment uses; a 4,300-square-foot public greenway; dog park; and a community amphitheater.  The five-phase development, which broke ground in early 2025, is being developed by Tulit Investment and is expected to be fully delivered in 2030.

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sarasota-square
DevelopmentFloridaMixed-UseSoutheastTop Stories

Torburn, Jamestown Announce Next Steps for Mixed-Use Redevelopment of Sarasota Square Mall in Florida

by Abby Cox

SARASOTA, FLA. — Torburn Partners, a real estate development and investment firm based in Chicago, and leasing and placemaking partner Jamestown are moving forward with Sarasota Square, a mixed-use redevelopment of the former Sarasota Square Mall. The mixed-use development spans nearly 100 acres at the corner of South Tamiami Trail and Beneva Road in Sarasota. Sarasota Square Mall originally opened in September 1977 and closed in December 2024. Phase I of the project, which is expected to be delivered in the first quarter of 2027, will introduce approximately 90,000 square feet of daily-needs tenants, such as Whole Foods Market, HomeSense, Charles Schwab, CAVA, Joe & the Juice and Chipotle Mexican Grill. Most recently, Warby Parker signed a 2,040-square-foot lease, bringing the first phase to 88 percent preleased. Additional leasing and development announcements will be shared as the project progresses. Jamestown, an Atlanta-based development and management firm that specializes in placemaking for retail and mixed-use environments, has begun leasing negotiations for Phase II. “With Phase II, we’re targeting operators that deliver a sense of discovery and a unique point of view,” says Adam Schwegman, head of retail leasing at Jamestown. “The early response from prospective tenants has been incredibly strong, reinforcing …

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Alliance-Gateway-Fort-Worth
DevelopmentIndustrialTexas

Hillwood Underway on Two Spec Industrial Buildings Totaling 769,858 SF in North Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Hillwood is underway on construction of two speculative industrial buildings totaling 769,858 square feet at AllianceTexas, the developer’s master-planned community in North Fort Worth. Alliance Gateway 70 and Alliance Gateway 71 will total 268,623 and 501,235 square feet, respectively. Alliance Gateway 70 will feature a rear-load configuration, 36-foot clear heights, 47 dock doors, two drive-in ramps, 185-foot truck court depths and parking for 270 cars and 68 trailers. Alliance Gateway 71 will feature 40-foot clear heights, 105 dock doors, four drive-in ramps, 185-foot truck court depths and parking for 294 cars and 149 trailers. Planned speculative tenant improvements for both buildings include approximately 2,500 square feet of main office space, LED warehouse lighting and 20 full dock door packages with seals, bumpers, lights and mechanical levelers. RGA Architects designed the buildings, with Westwood handling civil engineering. Enterprise Bank and Comerica Bank are respectively financing construction of the two buildings. Construction of both buildings is expected to be complete before the end of the year.

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DevelopmentMultifamilySoutheastVirginia

Emerson, Philip Roper Deliver 201-Unit Apartment Community in Metro Richmond

by John Nelson

CHESTER, VA. — Locally based Emerson Cos. and independent developer Philip Roper have delivered The River Apartments, a 201-unit community located at 1350 Meadowville Technology Parkway in Chester. The Class A community is situated near the James River, which runs through downtown Richmond. The property features one-, two- and three-bedroom floorplans ranging in size from 615 to 1,489 square feet. Monthly rental rates range from $1,684 to $2,596, according to Apartments.com. Amenities include a saltwater pool with sundeck, fitness center, grilling stations, landscaped courtyards with fire pits, resident lounge and coworking/conference space. Burke & Herbert Bank provided an undisclosed amount of construction financing to the development team. The design-build team include 2PA (architect), Highmark Engineering (civil engineer), KBS (general contractor), Focus Design (interior designer) and Cite Design (landscape architect). Capital Square Living operates The River Apartments.

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DevelopmentHospitalityLoansMarylandSoutheast

MCEC Closes $43M C-PACE Loan for Marriott Downtown Frederick Hotel in Maryland

by John Nelson

FREDERICK, MD. — The Maryland Clean Energy Center (MCEC) has closed a $43 million loan for the development of the Marriott Downtown Frederick at Carroll Creek, a 204-room hotel underway in downtown Frederick. The Maryland Property Assessed Clean Energy (MDPACE) transaction represents the largest C-PACE loan in Maryland to date, according to MCEC, which is the administrator of the MDPACE program. Nuveen Green Capital provided the 30-year, fixed-rate financing on behalf of the locally based developer, Plamondon Hospitality Partners. The C-PACE financing will fund sustainable initiatives at the property including advanced insulation, roofing, windows, HVAC systems, LED lighting, low-flow water fixtures and hot water systems. The Marriott Downtown Frederick at Carroll Creek will be situated on 2.2 acres at 20 S. Carroll St. and feature more than 20,000 square feet of conference and event space, including a rooftop terrace and flexible indoor-outdoor venues. The hotel will also have two restaurants (one creekside and one rooftop bar and restaurant), a lobby bar and a coffee shop and market. The hotel’s target opening date was not released.

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AcquisitionsDevelopmentMultifamilyStudent HousingTexas

Tailwind Group Buys 543-Bed Student Housing Community Near Baylor University, Plans Renovation

by Taylor Williams

WACO, TEXAS — Tailwind Group has acquired The Outpost Waco, a 543-bed student housing community located near the Baylor University campus, with plans to commence renovations in June. Capital improvements will include a redesigned clubhouse with a modern lounge and gaming areas, dedicated study zones and private conference rooms; the addition of a new 24-hour market; improved technology throughout the community; and a complete refresh of the property’s fitness center with increased space, new equipment and a spa-style sauna. The community’s exterior is also set to undergo upgrades, including renewed pool areas with new furniture and grills, revitalized outdoor recreational facilities, updated landscaping and improvements to the building’s exteriors. Renovations are scheduled for completion by this November. The seller and terms of the transaction were not released.

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DevelopmentLoansMixed-UseTexas

Oak Street Capital Arranges $15M Construction Loan for Mixed-Use Project in Taylor, Texas

by Taylor Williams

TAYLOR, TEXAS — Oak Street Capital, an Austin-based financial intermediary, has arranged a $15 million construction loan for a mixed-use project that will be located in the Central Texas city of Taylor. The site is located along Second Street, and the project will be an 82-unit condo and retail development. Brian Hampton led the Oak Street Capital team on the debt placement. The lender was First Bank of The Southwest, and the borrower was Metropolitan Development Co. A groundbreaking ceremony took place on March 25.

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Target-Verrado-Mktpl-Buckeye-AZ
ArizonaDevelopmentRetailWestern

Seven New Tenants to Open at Verrado Marketplace Shopping Center in Metro Phoenix

by Amy Works

BUCKEYE, ARIZ. — Seven new tenants will open this month at Verrado Marketplace, a 500,000-square-foot shopping center development located in Buckeye, approximately 35 miles outside Phoenix. The first wave of tenants includes Buckle, Ulta Beauty, Target, Bath & Body Works, Famous Footwear, Marshalls and HomeGoods. Target, which spans 148,000 square feet, will be the first anchor tenant to open at Verrado Marketplace on May 17. The next wave of tenants will debut in June, including Einstein Bros. Bagels, Elite Shutters & Blinds, Great Clips, Pacific Dental Services, NextCare Urgent Care, Paramount Hair Extensions and CityVet, followed by Ross Dress for Less in mid-July. Verrado Marketplace is projected to be fully open by January 2027 and will comprise more than 55 retailers, chef-driven restaurants and eateries, service-based tenants and the Harkins BackLot entertainment experience.

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DevelopmentHospitalityMidwestMissouriRetail

Construction Begins on First Amusement Park Ride at Oasis at Lake of the Ozarks in Missouri

by Kristin Harlow

OSAGE BEACH, MO. — Construction teams are now installing the first amusement park ride at Oasis at Lake of the Ozarks in Osage Beach. The family tower ride, named The Plunge, will lift riders 100 feet into the air to experience sweeping views of the lake before plunging them back down to the landing zone at high speeds. Standing as tall as the Natural Bridge at Ha Ha Tonka State Park in Camdenton, Mo., The Plunge will be one of the tallest structures in the area. The Plunge is one of 12 amusement rides planned for the Oasis Lake of the Ozarks entertainment destination. The amusement park, parking garage and boat slips are scheduled to open in spring 2027. The indoor water park and Marriott Resort & Conference Center will follow. When complete, Oasis Lake of the Ozarks will operate as a year-round destination featuring multiple restaurants and a wide range of attractions, including two roller coasters, a nearly 200-foot-tall observation wheel, the largest indoor water park in Missouri and a 401-room Marriott Resort.

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