Development Archives - REBusinessOnline

PAGEWOOD Breaks Ground on Adaptive Reuse Project in Downtown Houston

Taylor Williams — Wed, 20 May 2026 14:45:22 +0000

HOUSTON — Local developer PAGEWOOD has broken ground on Phase I of East Blocks, an adaptive reuse project in Houston’s East Downtown neighborhood. Designed by Gensler and developed in partnership with Wile Interests, the project will transform a 10-block stretch of mid-20th century warehouses into a district of walkable restaurants, shops, offices and green spaces. Phase I involves the conversion of two 15,000-square-foot warehouses at 1107 Hutchins St. and 2202 Dallas St. Delivery of Phase I is slated for August.Phase I

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Piazza Auto Group Breaks Ground on 270-Unit Multifamily Project in Ardmore, Pennsylvania

Taylor Williams — Wed, 20 May 2026 14:29:30 +0000

ARDMORE, PA. — An affiliate of Piazza Auto Group has broken ground on a 270-unit multifamily project in Ardmore, a northwestern suburb of Philadelphia. The Plaza at Ardmore will offer studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, outdoor grilling and dining stations, a fitness center and dedicated coworking and private study spaces. The development will also feature 30,000 square feet of ground-floor retail space and 19,000 square feet of outdoor courtyard space. Piazza is partnering with Radnor Property Group on the project, which is being financed by Bank OZK (senior lender) and Affinius Capital (mezzanine lender). Completion is slated for early 2028.

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Merchants Capital Provides $26.3M in Financing for Historic Manhattan Multifamily Property

Taylor Williams — Wed, 20 May 2026 14:21:46 +0000

NEW YORK CITY — Merchants Capital has provided $26.3 million in financing for the rehabilitation and conversion (to affordable seniors housing) of Three Arts Club, a 62-unit historic multifamily property on Manhattan’s Upper West Side. Three Arts Club was originally built in the 1920s as dormitory-style housing for aspiring female artists. Upon completion of the rehabilitation and conversion, the property will offer housing for residents age 62 and above who earn 50 percent or less of the area median income. In addition, 25 units will be set aside for formerly homeless individuals. The financing consists of an $18.4 million Freddie Mac Unfunded Forward permanent loan and a $7.9 million construction loan from Merchants Bank. The owner is nonprofit organization West Side Federation for Senior & Supportive Housing Inc.

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Skender Breaks Ground on 33-Unit Affordable Housing Development in Evanston, Illinois

Kristin Harlow — Wed, 20 May 2026 13:23:24 +0000

EVANSTON, ILL. — Skender has broken ground on Mt. Pisgah Apartments, a 33-unit affordable housing development in Evanston. The project, led by Housing Opportunity Development Corp. (HODC) in partnership with Skender, Mt. Pisgah Ministries and the City of Evanston, will transform the current church site at 1813 Church St. The one-, two- and three-bedroom units will be reserved for households earning up to 60 percent of the area median income. The development will also include 2,250 square feet of ground-floor commercial space, shared community amenities and energy-efficient building features. Mt. Pisgah Apartments will remain under the long-term ownership and management of HODC. Cordogan, Clark & Associates Inc. is the architect. Financing partners include the Illinois Housing Development Authority, City of Evanston, Clocktower Tax Credits, Housing Authority of Cook County, National Equity Fund, Wintrust Village Bank & Trust and ComEd.

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Dobbins Begins Construction on 230-Unit Apartment Development in New Port Richey, Florida

John Nelson — Wed, 20 May 2026 12:12:39 +0000

NEW PORT RICHEY, FLA. — Dobbins Group, alongside general contractor Capstone Building Corp., has broken ground on Charleston Ridge Apartments, a 230-unit community located at 9949 Elyton Loop in New Port Richey, a northwest suburb of Tampa in Pasco County. The property will comprise four four-story apartment buildings housing 224 units and six two-bedroom townhomes atop 10,000 square feet of commercial space. Amenities will include a fitness center, clubroom, lounge, tenant market, swimming pool, electric vehicle charging stations and smart vehicular and pedestrian access controls. Dobbins Group plans to deliver Charleston Ridge in 2027.

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Insight Property Group Breaks Ground on $174.6M Office-to-Residential Conversion in Fairfax, Virginia

Kristin Harlow — Wed, 20 May 2026 12:00:00 +0000

FAIRFAX, VA. — Insight Property Group has broken ground on the redevelopment of the Hunters Branch office property in Fairfax within Northern Virginia. Brian Crivella, Brian Gould, Patrick McGlohn, Bill Gribbin, Yalda Ghamarian, Hunter Wood, Patrick Cunningham and Natalie Hershey of Berkadia arranged equity and construction financing for the $174.6 million project. The lenders, CIBC and Citizens Bank, jointly provided a $107.7 million nonrecourse construction loan. In March, Insight sold a portion of the Hunters Branch property, consisting of two vacant office buildings totaling 400,000 square feet, to Toll Brothers for $17 million. The national homebuilder will develop 76 stacked townhomes on the parcel. Insight will develop the balance of the site into a 452-unit apartment community while preserving 656 parking spaces in the existing garage. Resident amenities will include a fitness center, clubroom, coworking library, private dining space, a pool, outdoor grilling areas, a pet spa and dog park, along with expanded outdoor recreation space tied to the adjacent Hunters Branch Park. The project site is situated a quarter-mile from the Vienna Metro Station. Acquired for $28.9 million in a direct REO (Real Estate-Owned) transaction in November 2024, the original office property was not zoned at the time and…

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Malabar Hill Breaks Ground on 27,000 SF Retail Project in Manvel, Texas

Taylor Williams — Tue, 19 May 2026 14:24:07 +0000

MANVEL, TEXAS — Malabar Hill Capital, a locally based developer, has broken ground on The Market at Meridiana, a 27,000-square-foot neighborhood shopping center that will be located in Manvel, roughly 25 miles south of Houston. Situated at the entrance of the Meridiana master-planned community, The Market at Meridiana is 54 percent preleased to tenants including La Dolce Nail Salon, Select Physical Therapy and Twisted Egg Shack. A tentative completion date was not announced.

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JLL, HJ Sims Secure $252.1M in Financing for Planned 214-Unit Seniors Housing Project in Huntington Beach, California

Amy Works — Tue, 19 May 2026 14:18:30 +0000

HUNTINGTON BEACH, CALIF. — JLL and HJ Sims have arranged $252.1 million in tax-exempt and taxable bond financing for the development of The Marisol, a seniors housing community in Huntington Beach. HJ Sims acted as lead book-running manager on the senior bonds and JLL Securities served as co-manager and led the process in securing the investor for the subordinate bonds. Issued through the California Public Finance Authority, the fixed- and floating-rate financing was structured into Series A senior bonds and subordinate Series B and C bonds. The bonds were divided into three tranches: a Series A $165.7 million tranche, a Series B $74.3 million tranche and a Series C $12.1 million tranche. Located at 2120 Main St., The Marisol is currently under construction and will deliver 214 seniors housing units and a full amenity package in 2028. JLL’s Senior Housing Capital Markets team served as real estate advisor on the project.

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Seachange Partners Receives $15.6M in Construction Financing for Two Affordable Housing Projects in Los Angeles

Amy Works — Tue, 19 May 2026 14:12:06 +0000

LOS ANGELES — Seachange Partners has received $15.6 million in nonrecourse construction financing for two affordable multifamily developments in Los Angeles. Keith Rosso and Jeremy Kanter of Berkadia arranged the financing through Genesis Capital, a private Los Angeles-based residential construction lender. Located at 1723 Corinth Ave. and 3751 Delmas Terrace, the two five-story properties will deliver a combined 79 units of deed-restricted affordable housing. Construction is underway, with completion slated for 2027. Seachange Partners was founded in 2024 by Kyle Jenkins and Cameron Whiting. To date, the firm has initiated four affordable housing development projects in the greater Los Angeles area. The Corinth Avenue and Delmas Terrace developments are Seachange’s inaugural projects.

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JLL Arranges $141.8M Refinancing for Wolf Point West Luxury Apartment Tower in Chicago

Kristin Harlow — Tue, 19 May 2026 14:05:15 +0000

CHICAGO — JLL Capital Markets has arranged a $141.8 million loan for the refinancing of Wolf Point West, a luxury multifamily property in Chicago’s River North neighborhood. JLL represented the borrower, Hines, in partnership with AFL-CIO Building Investment Trust (advised by DWS Group), Magellan Development Group and the Jospeh P Kennedy Trust. New York Life Insurance Co. provided the three-year, floating-rate loan. Located at 343 W. Wolf Point Plaza, the property sits on the Wolf Point peninsula at the confluence of the three branches of the Chicago River. Delivered in 2016, Wolf Point West rises 48 stories with 509 units across 379,264 square feet. Designed by bKL Architecture, the LEED Silver-certified building features amenities such as an outdoor pool, fitness center, game room with golf simulator, business center and indoor-outdoor dog lounge. Danny Kaufman, Medina Spiodic, Rebecca Brielmaier and Youngsoo Yang led the JLL team. Hines developed the building and serves as property manager.

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Bradford Allen Opens 301-Unit Arbor House Apartments in Arlington Heights, Illinois

Kristin Harlow — Tue, 19 May 2026 14:03:19 +0000

ARLINGTON HEIGHTS, ILL. — Bradford Allen has opened Arbor House, a luxury apartment community rising eight stories with 301 units in Arlington Heights. Arbor House offers studio, one-, two- and three-bedroom units. Spanning 17,500 square feet, the amenity space features a fitness center, resident lounge with golf simulator, game tables and a kitchen. Additional amenities include coworking suites on the first and fourth floors, a concierge desk, covered parking and pet spaces such as an onsite dog run and washing station. Residents also have access to a private outdoor terrace with a pool, spa, fire pits, grills and seating. The property includes 26,000 square feet of ground-floor retail space. Abor House serves as the anchor of Bradford Allen’s 18-acre mixed-use district known as Arlington Gateway. The project reimagines the southeast entrance to Arlington Heights as a live-work-play community. The integrated master plan concept includes a full renovation of the former Daily Herald building, now branded as Arlington Med, placing Arbor House residents steps from a 150,000-square-foot wellness center.

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Joseph Nicholas Construction Breaks Ground on Cadillac Dealership in Chicago

Kristin Harlow — Tue, 19 May 2026 14:02:38 +0000

CHICAGO — Joseph Nicholas Construction, in partnership with Jack Carter Auto Group, has broken ground on Carter Cadillac of Chicago, a new dealership at 1400 W. North Ave., part of the former Lincoln Yards site. The new facility will be the brand’s third flagship store in the world, after locations in Manhattan and Los Angeles. The dealership is expected to open in late 2027. The development will include a two-story showroom and a six-level parking garage with 490 spaces for inventory and customer parking. Based in Calgary, Alberta, Jack Carter Auto Group is a large independent retail automotive dealership group that operates locations across Canada and the U.S.

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The Community Builders Completes 64-Unit Affordable Housing Development in Cleveland

Kristin Harlow — Tue, 19 May 2026 14:01:37 +0000

CLEVELAND — The Community Builders (TCB) has completed Woodhill Station East, the third phase of the Buckeye-Woodhill Choice Transformation in Cleveland. The building delivers 54 affordable apartments and 10 market-rate units for residents in the Buckeye-Woodhill neighborhood and is situated immediately to the east of Woodhill Station West. Woodhill Station East is the third phase in the redevelopment of the former Woodhill Homes. A commercial space will host up to three tenants. Residents have access to amenities including a community room, lounges, a fitness center, landscaped greenspace and an outdoor patio. All units are pre-wired for high-speed internet service, including low-cost access provided by Digital-C. TCB will oversee a wide range of resource and programming partners and activities, including a team of TCB Community Life case managers, which will provide onsite supportive service programming. They will connect residents to opportunities in six areas: workforce development, asset building, community engagement, youth development, education and health and wellness. Financial partners included Lument, Ohio Capital Corp. for Housing, Ohio Housing Finance Agency, Citizen’s Bank, HUD Choice Neighborhoods program, TCB, Cuyahoga Metropolitan Housing Authority (CMHA) and the City of Cleveland via ARPA HOME funds. In 2021, HUD awarded a $35 million Choice Neighborhoods Implementation…

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Cushman & Wakefield Arranges Construction Loan for 198-Unit Multifamily Project in Belmar, New Jersey

Taylor Williams — Tue, 19 May 2026 13:57:52 +0000

BELMAR, N.J. — Cushman & Wakefield has arranged an undisclosed amount of construction financing for Mara by Vermella, a 198-unit multifamily project in Belmar, located along the Jersey Shore. Mara by Vermella will be situated on a 3.2-acre site and will include 20 affordable housing units, as well as 5,480 square feet of retail space. Amenities will include a pool, fitness center with a yoga studio, coworking and resident lounge and outdoor grilling and dining stations. John Alascio, Chuck Kohaut and Meredith Donovan of Cushman & Wakefield placed the loan through PNC Bank on behalf of the borrower, Russo Development.

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Woodfield Tops Out 325-Unit Apartment Community in Atlanta

John Nelson — Tue, 19 May 2026 13:35:16 +0000

ATLANTA — Woodfield Development has topped out Woodrow House, a 325-unit apartment community located at 840 Woodrow St. SW in Atlanta. The property sits along the Westside Trail of the Atlanta Beltline, a 22-mile urban trail loop in Atlanta. The developer has begun leasing units at Woodrow House, with monthly rental rates ranging from $1,300 to $3,000. The property will comprise mid-rise apartment buildings, two-story live-work units and townhomes, as well as over 12,000 square feet of retail space facing a new spur of the Beltline. Sixty-six of the units will be reserved as workforce housing. Amenities will include a resort-style pool with outdoor lounge areas and grilling stations; sky deck; fitness center; coworking spaces, including a private conference room and dedicated creator studio; and a dog park and pet spa. The project team includes Fortune Johnson (general contractor), Dynamik Design (architect), Krywicki Interior Design (interior design) and Kimley-Horn (civil engineer and landscape architect). Initial townhome deliveries are expected in July, with the first multifamily units anticipated in September, according to Woodfield.

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Stotan, CrossHarbor Capital to Develop 306,980 SF Industrial Property on Florida’s Space Coast

John Nelson — Tue, 19 May 2026 13:30:22 +0000

TITUSVILLE, FLA. — A partnership between Chicago-based Stotan Industrial and CrossHarbor Capital Partners plans to develop NASA Causeway Logistics Center, a two-building industrial project totaling 306,980 square feet in Titusville, a city on Florida’s Space Coast in Brevard County. The 28.6-acre site, located within Vector Space Business Park, will sit immediately adjacent to the NASA Causeway and approximately five miles from Kennedy Space Center. NASA Causeway Logistics Center will comprise the 215,460-square-foot Building A and the 91,520-square-foot Building B. The buildings will offer 32-foot clear heights, up to 85 dock-high doors, four drive-in doors, more than 300 auto parking spaces and 55 trailer parking spaces. Lightle Beckner Robison advised Stotan in the land deal. Construction will begin immediately, with delivery anticipated in second-quarter 2027.

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KCC Underway on 266,788 SF Industrial Build-Out in Hutchins, Texas

Taylor Williams — Mon, 18 May 2026 14:19:37 +0000

HUTCHINS, TEXAS — Chicago-based Krusinski Construction Co. (KCC) is underway on the tenant build-out of Wintergreen Distribution Center, a 560,030-square-foot industrial project in Hutchins, a southeastern suburb of Dallas. The project is a build-to-suit for for HVAC products and systems provider Cooper & Hunter, which will occupy 266,788 square feet within the building. Completion is slated for June. Designed by Azimuth Architecture and delivered in 2024 by IAC Properties, Wintergreen Distribution Center sits on a 34-acre site and features 40-foot clear heights, four drive-in doors and parking for 328 cars and 151 trailers.

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Pinecroft Breaks Ground on $16.2M Healthcare Project in Shenandoah, Texas

Taylor Williams — Mon, 18 May 2026 14:12:25 +0000

SHENANDOAH, TEXAS — Local development and investment firm Pinecroft has broken ground on a $16.2 million healthcare project in The Woodlands, located north of Houston. The project, a 39,883-square-foot medical office building, is fully preleased to providers in specialty practices such as primary care, nephrology, urology, cardiology and infectious diseases. Browne McGregor Architects designed the project, and O’Donnell Snider Construction is serving as the general contractor. Completion is slated for early 2027.

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Lendlease, Aware Super Open Habitat Mixed-Use Campus in Los Angeles

Amy Works — Mon, 18 May 2026 13:47:24 +0000

LOS ANGELES — Lendlease, in joint venture with Aware Super, has opened Habitat, a two-building live-work-thrive campus in Los Angeles. Located at 3411 S. La Cienega Blvd., the campus includes Habitat Residences, a 12-story residential building, and a six-story, 260,000-square-foot creative office building. Designed by SHoP Architects, with Steinberg Hart acting as architect of record, the buildings are situated on a 3.5-acre campus. The residential component includes 260 studio, one- and two-bedroom apartments and penthouses on the top two floors. Apartments include quartz countertops, full quartz backsplashes, full-height windows and balconies or terraces in 50 percent of the units. Community amenities include a resort-style deck with an outdoor pool, spa, shaded cabanas, grilling stations and al fresco dining areas, a rooftop bookable dining room and outdoor terrace and an indoor-outdoor fitness center. The property also includes a fleet of Habitat-branded e-bikes for residential use, coworking space, a social lounge, media room, library, dedicated storage, pet spa, dog run and dining room with planned chef demonstrations, wine tastings and seasonal pop-ups. Kelly Wearstler and Jules Wilson Design Studio designed the interiors of the residential building. The office portion includes 40,000-square-foot to 50,000-square-foot floor plates, 14-foot floor-to-floor heights and private terraces, as…

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Silicon Valley Initiative Partnership Receives $74.1M in Financing for Office-to-Residential Conversion Project in San Jose

Amy Works — Mon, 18 May 2026 13:44:30 +0000

SAN JOSE, CALIF. — Silicon Valley Initiative Partnership has received $74.1 million in financing for the conversion of the historic Bank of Italy building, located at 12 S. 1st St. in downtown San Jose, into a mixed-use residential and retail property. Deutsche Bank provided the financing. Originally constructed in 1926, the 13-story office tower will be transformed into a 126,000-square-foot multifamily and commercial space. The residential portion will feature 109 studio, one- and two-bedroom, market-rate apartments complemented by a fitness center, lounge and an outdoor terrace. Dave Karson, Chris Moyer, Alex Lapidus and Chris Meloni of Cushman & Wakefield arranged the financing on behalf of of the borrower.

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