Development

Speakers at the build-to-rent panel at InterFace Carolinas Multifamily included, from left, Louis Smart of CBRE (moderator); Ed Oprindick of Mandrake; Lisa Taylor of Greystar; Eric Friedman of Crescent Communities; and Andy Lucas of Beauxwright.

InterFace: Build-to-Rent Developers Navigate Uncertainty Stemming from ROAD to Housing Law, Picky Renters

by Matthew Auchincloss July 21, 2026

By Matthew Auchincloss The multifamily build-to-rent (BTR) market in the Carolinas is the most competitive it’s ever been. According to Louis Smart, senior vice president at CBRE, more than 22,000 townhomes and single-family rental (SFR) units were delivered in the Carolinas over the past three years, and developers are jostling for position to handle it. “We’re reacting as probably most of our peers are reacting: scratching and clawing through lease-up, being as creative as we can, spending money that we really don’t want to spend from a marketing and advertising perspective trying to differentiate the product as much as possible, leaning into the fact that we believe we’ve picked good locations,” adds Andy Lucas, principal at Beauxwright. Lucas was a speaker on a panel titled, “Build-to-Rent in the Carolinas: Headwinds, Tailwinds and What Comes Next?” The panel was part of the lineup at InterFace Carolinas Multifamily, an information and networking conference that took place on May 21 at the Hilton Charlotte Uptown. Smart was the panel moderator. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Other panelists included Eric Friedman, director …

July 21, 2026

Affordable Housing California Development Multifamily Seniors Housing Western

Wellpointe to Develop $2B Affordable Seniors Housing Campus in Los Angeles

by Amy Works July 20, 2026

LOS ANGELES — Wellpointe has announced plans for the development of a new affordable seniors housing campus within the Warner Center master-planned district in Los Angeles. Wellpointe estimates a total investment of $2 billion in the project, which will be developed in four phases. A property-holding affiliate of Wellpointe acquired the 4.7-acre development site late last year from Parkview Financial. Upon completion, Viva L.A. Warner Center will comprise four high-rise towers ranging from 34 to 42 stories. The 2.2 million-square-foot development will total 3,192 units and include 61,450 square feet of non-residential space. “Viva represents our conviction that affordable housing, paired with assisted living services as needed, can be delivered at the scale and density that California’s aging population in core urban centers actually needs,” says George Kutnerian, co-founder and CEO of Wellpointe. “Despite the overwhelming need for a new model, senior living continues to be built out rather than up — even in dense urban areas — and quality is treated as incompatible with affordability. Viva rejects that premise and builds upon Wellpointe’s mission of democratizing access to quality housing and care for older adults — now through transit-oriented, high-density, community-serving urban social infrastructure.” Gensler is designing the project. The firm …

July 20, 2026

Development Office Southeast Virginia

CoStar Opens $460M Expanded Office Campus in Downtown Richmond

by Abby Cox July 20, 2026

RICHMOND, VA. — CoStar Group has opened Foundry Park, its newly expanded, $460 million corporate office campus located along the James River in downtown Richmond. The expansion added 750,000 square feet of office and retail space to the riverfront. The now 1 million-square-foot, three-building campus integrates a 26-story office tower, an entry pavilion and a six-story, multi-functional building with a food hall, collaborative workspaces, fitness and wellness amenities and LEED Platinum certification. In addition, the property features approximately three acres of landscaped open space, 50,000 square feet of rooftop terraces and a new riverfront-facing outdoor amphitheater that connects the workplace to the river and the surrounding community. Foundry Park is designed to accommodate more than 3,000 employees working in software development, research, marketing, sales and operations. The project team included Cushman & Wakefield (development manager), Kendall/Heaton Associates (architect of record), Whiting-Turner (general contractor) and Pickard Chilton (design architect).

July 20, 2026

Acquisitions Development Georgia Retail Southeast

Centurion Foundation Acquires Northlake Mall in Metro Atlanta for $95M, Plans Expansion for Emory Healthcare

by Abby Cox July 20, 2026

TUCKER, GA. — Centurion Foundation, an independent nonprofit organization that specializes in real estate and financing solutions for the healthcare and higher education sectors, has acquired Northlake Mall, a nearly 1 million-square-foot shopping center in the Atlanta suburb of Tucker, from Dallas-based ATR Corinth Partners. Following the $95 million acquisition, Northlake Mall will be transformed into an expanded campus for Emory Healthcare. Emory has leased approximately 274,000 square feet of space at the mall for administrative and clinical operations since 2019 and will soon lease most of the property. The sale includes the main mall structure, as well as Emory’s existing offices on the campus and an adjacent building occupied by Macy’s, which will close this year. The acquisition did not include the former JCPenney site that has remained vacant since the department store closed in 2020. Centurion Foundation also has approval to issue additional financing to support future development of the campus, providing long-term flexibility as Emory’s programming needs evolve over time. ATR Corinth Partners acquired the majority of the Northlake Mall campus in 2016 from Indianapolis-based mall giant Simon Property Group. The mall dates back to 1971.

July 20, 2026

Development Multifamily Southeast Tennessee

Albion Delivers 458-Unit Residential Community in Midtown Nashville

by Abby Cox July 20, 2026

NASHVILLE, TENN. — Albion Residential has delivered Albion Music Row, a 458-unit multifamily community located in Midtown Nashville. The 29-story apartment complex, which was developed on the former Beaman auto dealership property, is now fully open. Vertical construction on the project began in December 2024, while move-ins started this past spring. Albion Music Row was originally expected to be delivered this fall. Albion Music Row offers studio, one-, two- and three-bedroom floorplans ranging in size from 357 to 1,815 square feet, according to Apartments.com. Monthly rental rates begin at $1,679. Amenities include a swimming pool, indoor/outdoor fitness center, laundry facilities, podcasting studio, clubhouse, a rooftop terrace and coworking and social spaces. The community also features 4,000 square feet of ground-floor restaurant space and availability for a permanent vendor on the outdoor plaza. The project team included Clark Construction, Hartshorne Plunkard Architecture, Barge Cauthen & Associates, Hodgson Douglas and I.C. Thomasson. Albion Music Row is Albion Residential’s second large-scale, ground-up project in Nashville’s urban core, following the opening of Albion in the Gulch in spring 2023. According to Albion, the firm is considering a 2027 start date for a second Albion Music Row tower.

July 20, 2026

Affordable Housing Development Multifamily New Jersey Northeast

WinnCos. Begins $33M Renovation of Affordable Housing Property in Atlantic City

by Taylor Williams July 20, 2026

ATLANTIC CITY, N.J. — Regional affordable housing owner-operator WinnCos. has begun the $33 million renovation of Garden Court Apartments, a 177-unit affordable housing property in Atlantic City. WinnCos. acquired the 20-building property, which houses 135 one-bedroom units and 42 two-bedroom apartments, in February in partnership with New Jersey-based nonprofit organization Gateway Community Action Partnership. Capital improvements will include upgraded kitchens, bathrooms and flooring in all apartments; new windows, siding, balconies and roofs for all buildings; the installation of new energy-efficient HVAC systems and electrical panels; and new security features. All common areas and amenity spaces will also be upgraded. Completion is slated for next fall.

July 20, 2026

Development Industrial Midwest Wisconsin

Zilber to Develop 252,000 SF Spec Industrial Facility in Germantown, Wisconsin

by Kristin Harlow July 20, 2026

GERMANTOWN, WIS. — Zilber Property Group (ZPG) has unveiled plans to develop Zilber Industrial 7 within Germantown Gateway Corporate Park in Germantown, a northwest suburb of Milwaukee. The 252,000-square-foot speculative industrial facility will feature a clear height of 32 feet, 26 loading docks and two drive-in doors. Subject to final municipal approvals, construction is expected to begin this summer with delivery anticipated in winter 2026. Upon completion, ZPG will own and manage approximately 1.3 million square feet of industrial space in Germantown Gateway Corporate Park. The industrial park totals 140 acres and is positioned less than one mile east of the I-41 and Holy Hill Road interchange. Development began in 2018.

July 20, 2026

Development Multifamily Texas

Partnership to Develop 265-Unit Multifamily Project in Uptown Dallas

by Taylor Williams July 17, 2026

DALLAS — A partnership between Endeavor Real Estate Group and Canyon Partners Real Estate will develop Lucille, a 265-unit multifamily project that will be located at 2700 McKinney Ave. in Uptown Dallas. The 22-story building will feature below-grade parking and 10,000 square feet of retail space. Amenities will include a rooftop lounge with a pool, cabanas, a private dining room, outdoor grilling and dining stations, coworking space, a business center, fitness center and an indoor dog grooming spa. HKS designed the project, and Roger-O’Brien is serving as the general contractor. German bank Helaba is financing construction, which is expected to begin in the coming weeks and be complete in late 2028.

July 17, 2026

Development Multifamily Northeast Pennsylvania

Partnership Underway on 274-Unit Multifamily Project in Horsham, Pennsylvania

by Taylor Williams July 17, 2026

HORSHAM, PA. — A partnership between Pennsylvania-based Korman Communities, New York City-based RXR, Japanese asset manager Chuo Nittochi, Goodman Properties and CBG Building Co. is underway on construction of a 274-unit multifamily project in Horsham, a northern suburb of Philadelphia. Known as AVE Horsham, the property will offer studio, one- and two-bedroom units and amenities such as a pool, outdoor grilling and dining stations, coworking space, meeting rooms, game room and a golf simulator. Completion is slated for early 2028.

July 17, 2026

Development Midwest Multifamily Wisconsin

Nicholas & Associates to Build 263-Unit Luxury Apartment Community in Madison, Wisconsin

by Kristin Harlow July 17, 2026

MADISON, WIS. — Moyer Properties has selected Nicholas & Associates, the construction management and general contracting arm of the Nicholas Family of Cos., to build Aster Flats, a 263-unit luxury apartment community in Madison. The three-building property will be situated on 4.9 acres. Nicholas & Associates will break ground Aug. 18, with construction taking place in phases. Completion is slated for February 2028. Designed by HKM Architects + Planners Inc., Aster Flats will offer studio, one-, two- and three-bedroom units ranging in size from 588 to 1,395 square feet. Amenities will include a clubhouse with a community lounge, entertainment kitchen and fitness and yoga center, a luxury pet spa, indoor bike room and an outdoor heated pool with a grilling terrace and courtyard area. Each of the three buildings will have one or two levels of heated indoor parking.

July 17, 2026

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