Development

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

by Taylor Williams May 14, 2026

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.

May 14, 2026

Development Multifamily Southeast Virginia

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

by John Nelson May 14, 2026

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.

May 14, 2026

Development Hospitality Loans Maryland Southeast

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

by John Nelson May 14, 2026

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.

May 14, 2026

Acquisitions Development Multifamily Student Housing Texas

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

by Taylor Williams May 14, 2026

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.

May 14, 2026

Development Loans Mixed-Use Texas

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

by Taylor Williams May 14, 2026

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.

May 14, 2026

Arizona Development Retail Western

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

by Amy Works May 14, 2026

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.

May 14, 2026

Development Hospitality Midwest Missouri Retail

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

by Kristin Harlow May 14, 2026

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.

May 14, 2026

Development Loans Multifamily Student Housing Texas

Elevate Development Receives $116M in Financing for Student Housing Project Near Texas State University

by Taylor Williams May 13, 2026

SAN MARCOS, TEXAS — Elevate Development Partners has received $116 million in acquisition and construction financing for the development of a 759-bed student housing community near Texas State University in San Marcos. The 260-unit project is being developed in partnership with Flintco. S3 Capital provided financing for the development, which will span 280,124 square feet. Shared amenities are set to include a social lounge, bicycle room, package room, resort-style pool, yoga and wellness room, fitness center, study lounges and conference rooms. Preiss has been tapped to manage the community upon completion. Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Dustin Stolly of Walker & Dunlop arranged the financing on behalf of the developer.

May 13, 2026

Acquisitions Affordable Housing Development Multifamily New York Northeast

Partnership Agrees to Buy Church Land in Manhattan’s Upper West Side, Develop Mixed-Income Project

by Taylor Williams May 13, 2026

NEW YORK CITY — A partnership between Rockefeller Group and Atlas Capital Group has entered into an agreement with the Roman Catholic Church of Holy Name of Jesus and Saint Gregory the Great to buy church-owned land on Manhattan’s Upper West Side, with plans to develop a mixed-income housing project. The agreement, valued at $96 million, involves land at 200 W. 97th St., and the project will involve underutilized portions of the church campus — such as the former school, convent and recreation buildings — while the active church continues its ministry. The number of units was not disclosed, but 25 percent of residences will be subject to income restrictions, and the new building will also have retail space. The deal is expected to close in the coming weeks.

May 13, 2026

Development Illinois Midwest Retail

Joseph Nicholas Construction Breaks Ground on 133,960 SF Porsche Dealership in Barrington, Illinois

by Kristin Harlow May 13, 2026

BARRINGTON, ILL. — Joseph Nicholas Construction (JNC), in partnership with Murgado Automotive Group, has broken ground on a new Porsche dealership showroom and service center at 24 E. Dundee Road in Barrington, about 40 miles northwest of downtown Chicago. The two-story, 133,960-square-foot facility will be the largest Porsche dealership in Illinois and one of the largest in the country, according to JNC. The facility will employ 80 to 100 people when it opens in late spring 2027. Upon completion, Barrington Porsche will serve as the new location for Murgado Automotive Group’s existing Porsche dealership, which is currently operating within the existing Motor Werks of Barrington auto mall, a 45-acre automotive sales campus that also houses BMW, Mercedes-Benz, Cadillac, Honda and Infiniti dealerships. The new showroom will have ample space across the first and second floors to display the full line of Porsche models. The basement level can store up to 90 inventory cars.

May 13, 2026

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