Development

Dwight Capital Provides $66M HUD-Insured Construction Loan for Abilene Multifamily Project

by Taylor Williams July 23, 2026

ABILENE, TEXAS — New York City-based Dwight Capital has provided a $66 million HUD-insured construction loan for The Lariat at Abilene, a 312-unit multifamily project in West Texas. Situated on 13 acres, the garden-style property will comprise 13 three-story buildings that will house 186 one-bedroom units and 126 two-bedroom units, as well as a clubhouse building. Amenities will include a pool, fitness center, pickleball court and outdoor grilling and dining areas. Brandon Baksh and Tommy Ng of Dwight originated the financing through HUD’s 221 (d)(4) program on behalf of the borrower, Martin Inderman Development.

July 23, 2026

Development Multifamily Southeast Virginia

Bonaventure Breaks Ground on $85.3M Multifamily Development in Norfolk

by John Nelson July 23, 2026

NORFOLK, VA. — Bonaventure has broken ground on Attain at Newtown, an $85.3 million multifamily development located at 6659 E. Virginia Beach Blvd. in Norfolk. The 320-unit project, which is situated within an opportunity zone, is the second Attain-branded multifamily development that Bonaventure has begun construction on in the past month. The developer is financing Attain at Newtown with equity from Cafritz Asset Management LLC and a HUD 221(d)(4) loan originated by Greystone. Bonaventure plans to deliver first units in fall 2027. The Class A community will offer a mix of one-, two- and three-bedroom residences averaging 1,010 square feet in size. The design-build team includes general contractor Marlyn Development Corp., architect Cox, Kliewer & Co. and civil engineer Timmons Group. Bonaventure affiliate Vest Residential will serve as the property manager for Attain at Newtown.

July 23, 2026

Development Florida Self-Storage Southeast Virginia

Space Shop Underway on Three Self-Storage Properties in Florida, Virginia Totaling 2,088 Units

by John Nelson July 23, 2026

ATLANTA — Space Shop Self Storage has three self-storage properties underway in Florida and Virginia totaling 2,088 units. With these projects, the Atlanta-based firm is nearing 80,000 units under management across more than 100 facilities. The newly announced properties include a 715-unit facility located at 134 Mason Ave. in Holly Hill, Fla.; a 668-unit property at 480 Cogan Drive SW in Palm Bay, Fla.; and a 705-unit facility located at 10265 Lakeridge Parkway in Glen Allen, Va. The projects span a combined 297,000 square feet and represent a total investment of $40 million. Space Shop plans to deliver all three properties in spring 2027.

July 23, 2026

Development Kansas Midwest Retail

Kansas City Chiefs Release Renderings for New $3B Stadium Set to Open in 2031

by Kristin Harlow July 23, 2026

KANSAS CITY, KAN. — The Kansas City Chiefs have released initial concept renderings for the team’s new enclosed stadium set to open in Kansas City, Kan., in 2031. The Chiefs are still finalizing details, but the $3 billion stadium will hold 70,000 fans, feature a fully enclosed roof with translucent panels and include more than 20,000 parking spots. The Chiefs also announced the project team, which includes Kansas City-based MANICA as the lead design architect and Kansas City-based sports architecture firm HNTB as the architect of record. CAA ICON is serving as owner’s representative on the project. The stadium’s size, shape and roof geometry have been studied by audio engineers to maximize crowd noise. The stadium’s seating bowl is reminiscent of Arrowhead Stadium, the team’s current stadium. The new development will include a “Drum Deck” for pregame and in-game ceremonies as well as the “Chiefs Ring of Honor” above the bowl. The translucent panels on the roof will maximize visibility for military flyovers. Outside the stadium, fans will be able to visit the Lamar Hunt statue in a modern plaza, access a specially curated Chiefs Hall of Honor more than twice the size of its current space and peruse an …

July 23, 2026

Development Industrial Midwest Ohio

Opus Breaks Ground on 898,500 SF Canal Crossing Commerce Center in Suburban Columbus

by Kristin Harlow July 23, 2026

CANAL WINCHESTER, OHIO — Opus has broken ground on Canal Crossing Commerce Center, an 898,500-square-foot, three-building speculative industrial facility on 72 acres in the Columbus suburb of Canal Winchester. The project site is three miles from I-270, five miles from Rickenbacker International Airport and 10 miles from downtown Columbus. The project is expected to create more than 400 jobs. Opus is investing more than $4 million in public infrastructure improvements, including allocating 9 acres to the Ohio Department of Transportation for the future US 33-Bixby Road interchange. All three buildings are designed for flexibility to accommodate a single user or multiple tenants. Building A will be a 398,600-square-foot, cross-docked building with a clear height of 36 feet, 107 dock doors, 262 vehicle parking spaces and 114 trailer stalls. Building B will total 297,975 square feet with a clear height of 32 feet, 59 dock doors and 305 vehicle parking spaces. Building C will total 201,925 square feet with a clear height of 32 feet, 45 dock doors and 247 vehicle parking spaces. All three buildings will feature four drive-in doors and multiple speculative office spaces. Opus is the developer and design-builder. Red Architecture is the architect, and Kimley-Horn is the …

July 23, 2026

Development Healthcare Loans Midwest North Dakota

Berkadia Arranges Financing for Development of 50-Bed Vibra Hospital in Bismarck, North Dakota

by Kristin Harlow July 23, 2026

BISMARCK, N.D. — Berkadia has arranged the equity placement and financing for the development of Vibra Hospital of the Central Dakotas, a 50-bed inpatient rehabilitation facility and long-term acute care hospital (LTACH) in Bismarck. The build-to-suit facility will be fully leased to Vibra Hospital of the Central Dakotas and will serve as a centrally located replacement hospital for the existing 41-bed Vibra LTACH. Sabrina Solomiany, Vasili Davos, Chris Lashmet, Eric Lee, Gordon Reynolds, Conner Adkins and Brian Myers of Berkadia led the equity placement on behalf of Birmingham, Ala.-based Development Solutions. Mike Rogers of Berkadia secured the development financing through First Horizon Bank on behalf of Development Solutions.

July 23, 2026

Arizona Development Industrial Western

Formation Interests, Crescent Real Estate Break Ground on Phase II of Formation Park 10 in Goodyear, Arizona

by Amy Works July 23, 2026

GOODYEAR, ARIZ. — A venture between Formation Interests and an affiliate of Crescent Real Estate has broken ground on Phase II of Formation Park 10, an industrial development located just west of Phoenix in Goodyear. The three-building expansion will bring Formation Park 10 to nearly 689,000 square feet of industrial space across five buildings and 44 acres. Totaling 261,168 square feet, Phase II will accommodate occupiers seeking 100,000 square feet or more of single-tenant space and/or those requiring flexible space from 15,000 square feet to 25,000 square feet. The project team for Phase II includes Deutsche Architecture Group, Kimley-Horn, RVI and Willmeng. Completion is slated for spring 2027. CBRE is overseeing leasing for the project.

July 23, 2026

Data Centers Development Georgia Industrial Southeast Top Stories

OpenAI Plans $20B Data Center Development Near Savannah, Georgia

by Hayden Spiess July 23, 2026

EFFINGHAM COUNTY, GA. — OpenAI, an artificial intelligence (AI) research and deployment company best known for ChatGPT, has announced plans for a new data center campus in Effingham County, approximately 30 miles northwest of Savannah. Dubbed Project Camellia, the data center campus will cost at least $20 billion to develop in order for OpenAI to receive incentives, according to multiple news outlets. Bloomberg reports that the San Francisco-based company plans to spend as much as $30 billion on the project. The site is located within Savannah Gateway Industrial Hub (SGIH), a master-planned industrial park by Broe Real Estate Group and OmniTRAX spanning 2,700 acres. SGIH is served by both CSX and Norfolk Southern rail lines. OpenAI has entered into a 25-year agreement with utilities provider Georgia Power Co., which will supply 3.2 gigawatts of power to the project. According to the two companies, OpenAI will pay all infrastructure and electric-service costs for the data center campus. Additionally, OpenAI has pledged to provide $80 million in community benefits over the life of the project, as well as $71 million in Codex credits for eligible Georgia students. (Codex is OpenAI’s agentic coding tool that assists in building software and technical projects.) OpenAI also reports …

July 23, 2026

Development Mixed-Use Texas

JLL Arranges Construction Debt, Joint Venture Equity for Dallas Mixed-Use Project

by Taylor Williams July 22, 2026

DALLAS — JLL has arranged undisclosed amounts of construction debt and joint venture equity for 8300 Douglas, a mixed-use project that will be located in the Preston Center submarket of Dallas. Designed by HKS Architects, 8300 Douglas will consist of a 12-story, 300,000-square-foot office building that will be the future regional headquarters of Fifth Third Bank; a 17-story, 147-unit apartment building; 24,000 square feet of retail and restaurant space; and a 35,000-square-foot rooftop park. RAMROCK Real Estate is leading development of 8300 Douglas in partnership with Lincoln Property Co. and Willow Bridge Property Co. Mark Gibson, Jim Curtin, John Rose, Clint Coe, Ryan Pollack and Campbell Swango of JLL structured both components of the capitalization.

July 22, 2026

Development Industrial Texas

Urban Logistics Realty to Develop Two Industrial Projects Totaling 341,000 SF in North Houston

by Taylor Williams July 22, 2026

HOUSTON — Urban Logistics Realty will develop two industrial projects totaling 341,000 square feet in North Houston. Urban NXS Fallbrook will be a 182,400-square-foot, cross-dock industrial building, and Urban NXS West will be a 158,600-square-foot, front-load building. Urban Logistics Realty is developing both projects in a joint venture with Principal Asset Management. First United Bank & Trust is financing construction, which is slated to begin before the end of the summer and to be complete in the second quarter of 2027.

July 22, 2026

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