Development

Provident Industrial Completes 497,280 SF Project in El Paso

by Taylor Williams November 5, 2026

EL PASO, TEXAS — Provident Industrial, a subsidiary of Dallas-based development and investment firm Provident, has completed a 497,280-square-foot industrial project in El Paso. The project represents the fourth and final phase of Gateway Logistics Park and consists of three rear-load buildings. Buildings 4 and 5 each span 147,420 square feet and have a shared 205-foot truck court. Building 6 totals 202,440 square feet and has a 130-foot truck court and 44 trailer parking stalls. Construction of Phase IV began in spring 2025. Now fully built out, Gateway Logistics Park comprises six buildings totaling roughly 1.4 million square feet.

November 5, 2026

Development New York Northeast Office

Marx Realty Begins $68M Repositioning of Midtown Manhattan Office Building

by Taylor Williams November 5, 2026

NEW YORK CITY — Marx Realty has begun the $68 million repositioning of 430 Park Avenue, a 19-story, 300,000-square-foot office building in Midtown Manhattan. The project will involve a redesign of the lobby and the introduction of indoor and outdoor amenities, including a parlor, library, golf simulator lounge and an indoor/outdoor bar. Studios Architecture is designing the project, which will also include the installation of new custom artwork. Lobby work has commenced, and work on pre-built suites will begin before the end of the month. Construction on amenity spaces will begin in February 2027, with completion expected for the summer.

November 5, 2026

Company News Development Florida Loans Southeast

Trez Capital, Starwood Capital Partner for Residential Land, Development Financing Venture

by John Nelson November 5, 2026

VANCOUVER AND MIAMI — Trez Capital and Starwood Capital Group have entered into a strategic partnership that will focus on origination of residential land acquisition and development loans for single-family communities across the United States. The partnership will expand Trez Capital’s lending capacity, further scaling its established residential land development financing platform. For Starwood Capital, the new venture will give the company the opportunity to finance land acquisition and development, complementing its long-standing track record in residential land investments. “Trez Capital has a strong track record in U.S. residential land lending, and we look forward to leveraging our collective strengths through this relationship,” says Anthony Murphy, managing director at Starwood Capital. The partnership is expected to be seeded with a $450 million portfolio of residential land acquisition and development loans originated by Trez Capital. The venture will target more than $1 billion in annual originations. “Starwood’s decision to partner with Trez Capital reflects the strength of our team, our origination capabilities and our expertise in this sector,” says John Maragliano, co-CEO and CFO of Trez Capital. “This will deliver additional institutional depth and enhanced financing capabilities, while supporting stronger returns and liquidity for our investors.”

November 5, 2026

Development Illinois Midwest Multifamily

R2 Cos., Lagfin Complete Office-to-Residential Conversion Project in Chicago

by Kristin Harlow November 5, 2026

CHICAGO — R2 Cos. and Lagfin, the building’s owner, have completed development of the office-to-residential conversion at 79 W. Monroe in downtown Chicago’s Loop. Ware Malcomb’s Chicago office provided architecture and interior design services for the renovation of the historic 14-story building, which included transforming seven upper floors of vacant office space into 76 market-rate and 41 affordable housing units. Built in 1905 and historically known as the Rector Building, the masonry high-rise is the oldest surviving commercial structure by Chicago architect Jarvis Hunt. The project marks the first completed under the city’s LaSalle Street Reimagined initiative. The new residential floors offer a mix of studio, one- and two-bedroom units. Rooftop amenities include an indoor tenant lounge, a fitness center and outdoor areas. Leopardo Cos. and GMA Construction Group were the general contractors.

November 5, 2026

Civic Development Midwest North Dakota

Kraus-Anderson Builds $63.7M Laboratory Facility in Bismarck, North Dakota

by Kristin Harlow November 5, 2026

BISMARCK, N.D. — Kraus-Anderson has completed a new $63.7 million laboratory facility for the Department of Health and Human Services and the Department of Environmental Quality located on North Dakota’s State Capitol grounds adjacent to the State Museum in Bismarck. Designed by Zerr Berg Architects, the three-story, 104,230-square-foot facility features an expanded capacity for future tests such as toxicology of non-fatal overdoses, hematology and chemistry tests for North Dakota correctional facilities. Separate departments will share resources in the facility. Construction began in April 2024.

November 5, 2026

Development Illinois Industrial Midwest

Meridian Constructs 50,463 SF Industrial Build-to-Suit Project in Bartlett, Illinois

by Kristin Harlow November 5, 2026

BARTLETT, ILL. — Meridian Design Build has completed a 50,463-square-foot truck maintenance and tire storage facility for Pava Logistics within Blue Heron Business Park in Bartlett. The building marks the third build-to-suit project that Meridian has constructed within the park, which is owned by Abbott Land & Investment. The building features a clear height of 24 feet, two loading docks, 12 drive-in doors and accommodations for truck maintenance. Harris Architects provided architectural and structural design services, while Mackie Consultants handled the civil engineering design.

November 5, 2026

Development Loans Multifamily New York Northeast Office

Northwind Group Provides $231M Construction Loan for Office-to-Residential Conversion Project in Manhattan

by Taylor Williams November 4, 2026

NEW YORK CITY — Northwind Group, a Manhattan-based real estate private equity firm and debt fund manager, has provided a $231 million construction loan for an office-to-residential conversion project in Manhattan. The borrower is joint venture between Metro Loft Management and David Werner Real Estate Investments, and the building in question is 675 Third Avenue, a 32-story, 337,000-square-foot tower in the Midtown East submarket. The conversion could add as many as 450 new apartments to the local supply, inclusive of a 25 percent affordable housing component. The joint venture, which acquired the building last spring, has tapped Gensler and Collaborative Construction Management as project partners. A construction timeline was not announced.

November 4, 2026

Development Industrial Northeast Rhode Island Self-Storage

Ardent, Ironwood Complete 913-Unit Self-Storage Facility in Woonsocket, Rhode Island

by Taylor Williams November 4, 2026

WOONSOCKET, R.I. — A partnership between Atlanta-based developer The Ardent Cos. and Ironwood Development Partners has completed a 913-unit self-storage facility in Woonsocket, located along the Massachusetts-Rhode Island border. The site is a former brownfield at 153 Hamlet Ave. that was remediated prior to the start of construction. Extra Space Storage operates the facility, which spans approximately 80,000 square feet, though it is unclear if that figure refers to gross or net rentable square footage. A formal opening ceremony took place in late summer.

November 4, 2026

Affordable Housing Development Loans Maryland Multifamily Southeast

McCormack Baron Salazar, Baltimore City Secure Financing for $398M Affordable Housing Redevelopment

by John Nelson November 4, 2026

BALTIMORE — McCormack Baron Salazar, an affordable housing developer and operator based in St. Louis, and the Housing Authority of Baltimore City have closed on financing for the next 150 apartments at Perkins Square, advancing the $398 million redevelopment of the former Perkins Homes in East Baltimore. Phases 5A and 5B, representing approximately $87 million in development costs, will include 111 income-restricted and 39 market-rate units. The first three phases of Perkins Square included 411 mixed-income units delivered between 2024 and 2025, while the 154-unit fourth phase is under construction with completion slated for 2027. Perkins Square is replacing Perkins Homes, a 629-unit public housing community built in 1942. Demolition began in 2021 as part of Baltimore’s broader Perkins-Somerset-Oldtown Transformation Plan, a 244-acre redevelopment backed by HUD Choice Neighborhoods funding that is replacing the former public housing while adding mixed-income residences, infrastructure, parks and a new school. Phase 5A will include 60 apartments with a total development cost of approximately $41.6 million. Phase 5B, with 90 apartments, carries a cost of approximately $45.7 million. Tenants in 67 of the planned 150 apartments will receive rental assistance through the Housing Choice Voucher Program, formerly known as Section 8, as part of …

November 4, 2026

Affordable Housing Development Multifamily Nevada Western

Metcalf Builders Breaks Ground on 402-Unit Affordable Housing Development in Reno

by Amy Works November 4, 2026

RENO, NEV. — Reno-based Metcalf Builders has broken ground on Skyline Flats, an affordable housing development in Reno. Developed in partnership with Dominium, the 570,663-square-foot community will feature 14 residential buildings offering a total of 402 apartments. Residences will offer in-unit laundry and modern finishes. The property will feature sustainable components, including an onsite solar energy system to offset common-area and operational energy demands. Additionally, the community will incorporate modern energy-efficiency, accessibility and life-safety standards throughout. Construction of Skyline Flats is underway, with completion slated for January 2029.

November 4, 2026

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