Development

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

Development Industrial Midwest Ohio

CRG Breaks Ground on Two Industrial Buildings Totaling 911,040 SF Near Columbus

by Kristin Harlow November 4, 2026

ETNA, OHIO — CRG has broken ground on two Class A industrial buildings totaling 911,040 square feet at The Cubes at Etna, a 305-acre master-planned industrial park in Etna, about 20 miles southeast of downtown Columbus. Spanning 750,120 square feet, Building B is fully leased to Omega Morgan, a specialized transportation, heavy rigging and machinery moving services company that already occupies Building D and is expanding its presence at the park. the second new property, Building C, measures 160,920 square feet and is being developed on a speculative basis. Both buildings are slated for completion in 2027, with Building C expected to deliver in the summer. Located near I-70, Buildings B and C are supported by a 15-year, 100 percent tax abatement. Building B will feature a clear height of 40 feet, 141 dock doors, four drive-in doors, 185-foot truck courts, 50-by-54-foot column spacing, 4,00-amp power service, 397 vehicle parking spaces and 219 trailer parking stalls. Building C will feature a clear height of 32 feet, 30 dock doors, two drive-in doors, a 185-foot truck court, 50-by-54-foot column spacing, 60-foot speed bay, 174 vehicle parking spaces and 63 trailer parking stalls. Both buildings are being developed in partnership with an …

November 4, 2026

Development Industrial Texas

Freehill Breaks Ground on 809,220 SF Build-to-Suit Industrial Project in Northwest Houston

by Taylor Williams November 3, 2026

HOUSTON — Austin-based developer Freehill Co. has broken ground on an 809,220-square-foot industrial project in northwest Houston. The project, which represents Phase I of a larger development known as Fairbanks Landing, is a build-to-suit for Power Electronics, a manufacturer of solar inverters, electric vehicle chargers and other energy-oriented devices. Phase I will consist of two buildings that are expected to be complete in the third quarter of next year. Phase II of Fairbanks Landing will comprise two additional buildings totaling 834,720 square feet that will be developed on speculative bases and are slated for a fourth-quarter 2027 delivery. JLL is marketing Phase II for lease.

November 3, 2026

Development Industrial Texas

Levey Group to Develop 445,750 SF Industrial Project in Northeast Houston

by Taylor Williams November 3, 2026

HOUSTON — Levey Group will develop a 445,750-square-foot industrial project in northeast Houston that will be known as Levey East Belt. The locally based owner-operator has assembled 30 acres at the intersection of Beltway 8 and Tidwell Road with plans to construct a 270,400-square-foot front-load building and two rear-load buildings spanning 131,250 and 44,10 square feet. Levey expects to complete the permitting and approvals process in the first quarter of next year and to spend about 11 months constructing the project, putting delivery on track for early 2028. Cushman & Wakefield is marketing the project for lease.

November 3, 2026

Development District of Columbia Multifamily Southeast

Howard University, Developers Break Ground on 11-Story Multifamily Development in D.C.

by John Nelson November 3, 2026

WASHINGTON, D.C. — Howard University and a development team comprising Lowe, Affinius Capital, FLGA and Davenport Group have broken ground on The Hazel, an 11-story multifamily building in Washington, D.C.’s Shaw district. Situated on the grounds of Howard University’s former East Towers parking lot, The Hazel will include 504 residential units (including 40 affordable units), approximately 15,000 square feet of retail space and 246 below-grade parking spaces. Amenities will include a clubroom, fitness center and a rooftop patio with a partial glass-bottomed pool suspended between the east and west wings of the building. The Hazel is named after musician and Civil Rights figure Hazel Scott. The development team has executed a long-term ground lease with Howard University for the 1.8-acre project, which will feature a 25-foot-wide public plaza spanning a full block on W Street between 8th and 9th streets that will connect the school to the northern part of the Shaw neighborhood. JLL arranged $214.1 million in construction financing for the development, including $90 million in C-PACE financing. The project team, including HKS (architect) and Whiting-Turner (general contractor), plans to deliver The Hazel by fourth-quarter 2028.

November 3, 2026

Development Multifamily North Carolina Southeast

High Street Delivers 370-Unit Apartment Community in Apex, North Carolina

by John Nelson November 3, 2026

APEX, N.C. — High Street Residential, the residential subsidiary of Trammell Crow Co., has delivered The Henley, a 370-unit apartment community located at 1211 Chapel Ridge Road in Apex, a suburb of Raleigh. The 22-acre property offers a mix of studio, one-, two- and three-bedroom apartments ranging in size from 580 to 1,361 square feet, with 13 units reserved for households earning 60 percent of the area median income (AMI). Monthly rental rates range from $1,325 to $2,445, according to Apartments.com. Amenities include a fitness center with a yoga studio, clubhouse, coworking space, resort-style pool, dog park and spa, reservable private dining room with a demonstration kitchen, community bike share program with smart e-bikes, EV charging stations and connectivity to the North Beavercreek Greenway. The design-build team includes Rule Joy Trammell+ Rubio (architect) and L.F. Jennings (general contractor). Greystar is managing The Henley on behalf of High Street.

November 3, 2026

Affordable Housing Development Midwest Multifamily Wisconsin

Kraus-Anderson Completes Conversion of Wisconsin Hotel into 146 Affordable Housing Units

by Kristin Harlow November 3, 2026

WAUWATOSA, WIS. — Kraus-Anderson has completed Waterfair Apartments in the Wauwatosa Research Park District. Designed by Continuum Architects + Planners, the 124,072-square-foot renovation and adaptive reuse project converted an eight-story, 198-room hotel and convention space (Sonesta Hotel) into 146 affordable residences. The development is near Wauwatosa Milwaukee Regional Medical Center and the Milwaukee Regional Innovation Center. Amenities at the project include a community room, fitness center, media room, coffee lounge, conference and study rooms, a large patio and dedicated commercial office space. Samapa Development was the developer. Construction began in January 2026.

November 3, 2026

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