Development

JPI to Develop $90M Multifamily Project in Northwest Austin

by Taylor Williams August 18, 2026

AUSTIN, TEXAS — Metro Dallas-based JPI will develop Jefferson Pearson Ranch, a $90 million multifamily project in northwest Austin. The site spans 9.3 acres at the northwest corner of Pearson Market Circle and Spectrum Drive within the 156-acre Pearson Ranch master-planned development. Designed by The Preston Partnership, Jefferson Pearson Ranch will consist of four buildings that will house 25 studios, 211 one-bedroom units, 90 two-bedroom apartments and 16 three-bedroom residences for a total of 342 units. Amenities will include a pool, fitness center, resident lounge, outdoor grilling and dining stations, a dog park and coworking space. Construction is set to begin in the coming days, with completion anticipated in 2028.

August 18, 2026

Development Hospitality Louisiana Southeast

PENN Entertainment to Invest $195M to Relocate Riverboat Casino in New Orleans

by John Nelson August 18, 2026

NEW ORLEANS — PENN Entertainment Inc. plans to invest approximately $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino operations to a new landside property on adjacent land, pending regulatory approval. If approved, the publicly traded gaming company will rebrand the property, which is expected to open in 2029, as Hollywood Casino New Orleans. The investment will include the build-out of roughly 140,000 square feet of new development, approximately 875 slot machines, 45 table games, a retail sportsbook and multiple dining options. The existing riverboat will be vacated upon opening of the new property, and PENN expects to keep the existing hotel open. The investment would represent the fourth landside relocation of a riverboat casino for PENN, which expects to finance the project with cash on hand, allowing for the option to access its balance sheet or other sources of liquidity. PENN currently operates four other casino destinations in Louisiana, including L’Auberge Casino Resort Lake Charles, L’Auberge Casino Hotel Baton Rouge and Margaritaville Resort Casino and Boomtown Casino Hotel in Bossier City.

August 18, 2026

Alabama Development Multifamily Southeast

Thompson Thrift to Develop 300-Unit Apartment Community in Chelsea, Alabama

by John Nelson August 18, 2026

CHELSEA, ALA. — Thompson Thrift plans to develop Rivet, a 300-unit apartment community in Chelsea, a suburb of Birmingham in Shelby County. The Indianapolis-based developer is capitalizing the project with equity from Thompson Thrift 2025 Multifamily Development LP. Situated on nearly 29 acres along the U.S. Highway 280 corridor, Rivet will offer a mix of one-, two- and three-bedroom apartments. Amenities will include a resort-style heated swimming pool, 24-hour fitness center, pickleball court, community grilling areas and fire pit, social hub with billiards and shuffleboard, dog park and pet spa, business center with conference rooms and an Amazon package hub. Thompson Thrift plans to deliver Rivet in late 2027.

August 18, 2026

Development Multifamily New York Northeast

Fetner Properties Completes Renovation of 127-Unit Apartment Complex in The Bronx

by Taylor Williams August 18, 2026

NEW YORK CITY — Locally based owner-operator Fetner Properties has completed the renovation of The Arbor, a 127-unit apartment complex in The Bronx. The Arbor, which was originally constructed in 2006 in the borough’s Riverdale neighborhood, consists of two nine-story buildings that house one-, two-, three- and four-bedroom units. Post-renovation, residences feature stainless steel appliances and in-unit washers and dryers, as well as new kitchen counters, cabinets, backsplashes and fixtures. Fetner also reimagined the building’s lobby and upgraded amenity spaces, which include a fitness center, resident lounge, children’s playroom and a courtyard.

August 18, 2026

Development Loans Multifamily New Jersey Northeast

Drew Capital Arranges $16.2M Construction Loan for Newark Multifamily Project

by Taylor Williams August 18, 2026

NEWARK, N.J. — Drew Capital, a New Jersey-based mortgage banking firm, has arranged a $16.2 million construction loan for Central Pointe, a 77-unit multifamily project that will be located in Newark’s University Heights neighborhood. Designed by INOA Architecture, Central Pointe will have six studios, 29 one-bedroom units and 42 two-bedroom residences, with 16 apartments designated as affordable housing. Amenities will include a fitness center, coworking lounge, communal spaces and a rooftop garden. Trevian Capital provided the loan to the developer, Newark-based Giga Holdings, which expects to complete the project next summer. Akiva Drew led the debt placement effort for Drew Capital

August 18, 2026

Build-to-Rent Development New Mexico Single-Family Rental Western

LaTerra Development, Revitate Open 344-Unit Build-to-Rent Community in Albuquerque

by Amy Works August 18, 2026

ALBUQUERQUE, N.M. —LaTerra Development, in partnership with Revitate, has opened The Charlie ABQ, a 344-unit build-to-rent community in Albuquerque. Situated on 37 acres at the southwest corner of Woodmont Avenue and Paseo del Norte, The Charlie ABQ features 202 townhomes and 142 detached single-family homes. The two-, three- and four-bedroom layouts range in size from 1,260 to 2,130 square feet. Every residence includes an attached two-car garage, private outdoor space and modern finishes. The community includes two large amenity centers with resort-style pools and spas, fitness centers, coworking lounges and outdoor gathering areas.

August 18, 2026

Development Hawaii Leasing Activity Restaurant Retail Western

GGP Signs Leases with Four New Retail Tenants at Ala Moana Center in Honolulu

by Amy Works August 18, 2026

HONOLULU — GGP has signed leases with four new tenants at Ala Moana Center, a 2.4 million-square-foot open-air center located in Honolulu. Kaikoa Gallery, NARA and POP MART are set to open this month. Kids City Adventure will join previously announced tenants BB Wellness and Molly Tea, which are all scheduled to open in October. Recently opened tenants at the center include Ali‘i Coffee Company, gorjana, Lume Harmony, MINISO and Studs. Crocs will also reopen at the center in September, and Tiffany & Co. will relocate temporarily while its permanent location undergoes renovation. Originally opened in 1959, Ala Moana Center features more than 350 stores and restaurants and is anchored by Bloomingdale’s, Neiman Marcus, Nordstrom, Macy’s and Target.

August 18, 2026

Development Illinois Industrial Midwest Self-Storage

Columbus Development Opens 200-Unit Ottawa Easy Storage Facility in Illinois

by Kristin Harlow August 18, 2026

OTTAWA, ILL. — Ottawa Easy Storage has opened with 200 units in its first phase. An additional 200 units is planned for future development. The facility offers a one-year rate guarantee, meaning that rental rates will not increase during a customer’s first year of storage. Sean Garrett of Columbus Development Co. developed the project. The firm also owns local shopping centers North Ottawa Plaza and Columbus Square, and has plans for additional development along East Etna Road. Blunier Builders served as general contractor. Monument provided facility management software. SafeLease and StorageDefender offerings will be available to tenants.

August 18, 2026

Data Centers Development Industrial Leasing Activity Midwest Ohio Top Stories

OpenAI Signs 20-Year Lease at Nvidia-Backed Data Center Development in Pike County, Ohio

by John Nelson August 18, 2026

PIKE COUNTY, OHIO — OpenAI, the artificial intelligence (AI) platform best known for ChatGPT, has signed a 20-year lease agreement to be the customer at the PORTS-Pike Technology Campus, an AI data center redevelopment of the decommissioned Portsmouth Gaseous Diffusion Plant in Pike County, located in southern Ohio’s Appalachian region. The size and cost of the campus has not been released, but The New York Times reports that it will be among the world’s largest data centers and that the build-out could cost as much as $500 billion. SB Energy, a data center and power infrastructure company backed by Tokyo-based SoftBank Group Corp., will build, own and operate the campus. Nvidia (NASDAQ: NVDA), a hardware manufacturer of semiconductors and networking systems for AI data centers, will provide the full build-out at PORTS-Pike Technology Campus using its DSX AI factory platform — encompassing all aspects typical to an AI-ready data center, including GPUs (graphics processing units), CPUs (central processing units), servers and infrastructure software. Nvidia has secured land, power and shell (LPS) rights at the Pike County project through a partnership with SB Energy. Nvidia will immediately invest $1.5 billion in SB Energy to support the project’s build-out. SB Energy and …

August 18, 2026

Development Industrial Texas

Jackson-Shaw Breaks Ground on 908,730 SF Industrial Project in Denton, Texas

by Taylor Williams August 17, 2026

DENTON, TEXAS — Developer Jackson-Shaw has broken ground on Horizon 35, a 908,730-square-foot industrial project in the North Texas city of Denton. The site is located at the northeast corner of I-35 and Loop 288, and the first phase of the development will consist of three rear-load buildings totaling 543,550 square feet. Building features of Phase I, which is expected to be complete in the third quarter of next year, will include 32- to 36-foot clear heights, dock-high loading doors, 18-by-20-foot drive-in doors and “ample” car and trailer parking allotments. ARCO/Murray is the design-build firm for Horizon 35, and Stream Realty Partners is the leasing agent.

August 17, 2026

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