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DevelopmentFloridaMultifamilySoutheast

Costis-Lifsey, American Land to Develop $187M Apartment High-Rise in Tampa

by John Nelson

TAMPA, FLA. — Costis-Lifsey Development LLC and American Land Ventures LLC have announced plans to develop Residences at Rocky Point, a $187 million apartment high-rise located at 2425 Rocky Point Drive in Tampa. The 21-story tower is being constructed on the waterfront site of the Rusty Pelican restaurant. Designed by Cube 3 and RSP Architects, the 252-unit apartment tower will feature units with two-level floorplans averaging 1,175 square feet in size. Amenities will include a structured parking garage, two-story lobby, a waterfront infinity pool, beachside cabanas and a rooftop area headlined by an 8,000-square-foot restaurant. The design-build team, which includes civil engineer Kimley-Horn, plans to break ground in early 2027 and wrap up construction by mid-2028.

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DevelopmentHospitalityLoansSoutheastTennessee

Arriba Capital Provides $67M Construction Loan for Dual-Branded Hotel Project in Nashville

by John Nelson

NASHVILLE, TENN. — Arriba Capital has provided a $67 million construction loan for a dual-branded hospitality project in Nashville’s East Bank district. The hotel development, which will sit adjacent to Oracle’s upcoming $2 billion campus, will feature rooms branded under Hilton’s Home2 Suites and Hampton Inn flags. The borrower is a Southeast-based developer that plans to deliver the hotel project in early 2027.

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DevelopmentFloridaMultifamilySoutheast

Falcone Begins Leasing 240-Unit Momentum Blanding Apartments in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Falcone Group has begun leasing Momentum Blanding, a 240-unit apartment development located at 6136 Blanding Blvd. in Jacksonville’s Westside neighborhood. The $50 million property will feature a mix of one-, two- and three-bedroom apartments featuring open-concept layouts. Monthly rental rates are expected to start from the $1,300s for one-bedroom units. Amenities will include a resort-style swimming pool, clubhouse with a game room, business center, coffee bar, resident lounge, yoga studio, fitness center, playground and a pet park. Falcone Group expects initial move-ins to begin in September, with preleasing incentives including up to three months of free rent for early residents. Construction is scheduled for completion in early 2026. Falcone has tapped Rentyl Apartments & Homes to oversee leasing and property management at Momentum Blanding.

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DevelopmentFloridaMixed-UseSoutheast

Wyld Oaks Adds AdventHealth, Onx Homes to Development Team in Central Florida

by John Nelson

APOPKA, FLA. — Wyld Oaks, a 255-acre mixed-use development underway in Central Florida, has announced new additions to its “co-creator” team. The project is located at the intersection of State Road 429/Western Beltway and West Kelly Park Road in Apopka. The company has added AdventHealth, a health system that operates 17 hospitals and freestanding emergency rooms, to the mix at Wyld Oaks. Other new additions include homebuilder Onx Homes and a retail market dubbed Wyld Provisions. “Having world-class organizations like AdventHealth, Onx Homes and Wyld Provisions join our community validates our position as Central Florida’s premier destination for forward-thinking partners who recognize the unique opportunity to be part of something transformative,” says Joseph Beninati, founder of Wyld Oaks.

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Define-Living-Houston
DevelopmentMultifamilyTexas

Define Living to Develop 388-Unit Apartment Community in West Houston

by Taylor Williams

HOUSTON — Define Living, a locally based multifamily developer that specializes in wellness-themed projects, will build a 388-unit apartment community in the Energy Corridor area of West Houston. The site spans 10.4 acres in the Central Park master-planned community. The midrise building will be known as Define Living: Park Row and will offer one- and two-bedroom units that will range in size from 657 to 1,089 square feet. Amenities will include a fitness center with cycling and yoga studios, infrared sauna and cold plunge, lap pool, two pickleball courts, a dog park and direct access to walking and biking trails. Mucasey & Associates is the project architect, and Blazer Building is the general contractor. Construction is scheduled to begin in the fourth quarter. Wolff Cos., the master developer of Central Park, sold the land to Define Living.

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DevelopmentIndustrialTexas

Hanover, TIG Break Ground on 213,425 SF Spec Industrial Project in South Houston

by Taylor Williams

HOUSTON — A partnership between local developer Hanover Co. and Transwestern Investment Group (TIG) has broken ground on Kirby 288, a 213,425-square-foot speculative industrial project in South Houston. The development will feature a cross-dock configuration, 36-foot clear heights and excess trailer storage. Powers Brown is the project architect, and Kimley-Horn is the civil engineer. Colliers is the leasing agent. Completion is slated for the second quarter of next year.

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DevelopmentNew YorkNortheastRetail

MCB Real Estate, Osiris to Undertake $100M Retail Redevelopment Project in Brooklyn

by Taylor Williams

NEW YORK CITY — A joint venture between Baltimore-based MCB Real Estate and New York-based Osiris Ventures will undertake a $100 million retail redevelopment project in the Bay Ridge area of Brooklyn. The joint venture acquired the 14-lot assemblage at 458 86th St., which formerly housed a Century 21 department store that first opened in the 1960s, for $47.5 million. The redevelopment, which will be known as Century Marketplace, will involve reconstructing the multi-story structures facing 86th Street to create a two-story structure that aligns with the existing rear building on 87th Street. A new interior atrium fronting 86th Street will also be added, and the new development will ultimately feature 95,000 square feet of retail space with a grocery anchor. Ethan Stanton, Jeffrey Julien, Brendan Maddigan and Michael Mazzara of JLL represented the seller, ASG Equities, in the transaction. Construction is expected to begin before the end of the year.

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Robert-C.-Woods-Apartments-Queens
Affordable HousingDevelopmentMultifamilyNew YorkNortheast

Partnership Completes $100M Affordable Housing Project in Queens

by Taylor Williams

NEW YORK CITY — A partnership between Bowery Residents’ Committee (BRC), Camber Property Group and the NYC Department of Social Services has completed a $100 million affordable housing project in the Far Rockaway area of Queens. The Robert C. Woods Apartments offers 147 permanently affordable residences and also houses the Wanda Patterson Women’s Residence, a 100-bed shelter reserved for single women. The units mix includes 125 studios, 88 of which are supportive housing for formerly homeless individuals, nine one-bedroom apartments and 13 two-bedroom residences. The other units are reserved for renters earning between 30 and 60 percent of the area median income. Residents have access to social service programming space, a community room, outdoor recreational space, bike storage, building-wide Wi-Fi and a laundry room.

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9260-Mesa-Linda-St-Hesperia-CA
CaliforniaDevelopmentIndustrialWestern

Newcastle Partners Breaks Ground on 406,138 SF Industrial Development in Hesperia, California

by Amy Works

HESPERIA, CALIF. — Newcastle Partners has broken ground on an industrial development located at 9260 Mesa Linda St. in Hesperia. Situated on 18.3 acres with immediate access to I-15, the project will offer 406,138 square feet of Class A industrial space. Ryan Lal and Dante Borruso of Voit Real Estate Services are overseeing all marketing, sales and leasing efforts for the property.

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DevelopmentLoansMidwestMinnesotaMultifamily

JLL Secures $55.6M for Development of 188-Unit Luxury Apartment Community in Metro Minneapolis

by Kristin Harlow

EDEN PRAIRIE, MINN. — JLL Capital Markets has arranged joint venture equity and construction financing totaling $55.6 million for The Fox and The Grouse Phase II, a 188-unit apartment development in the Golden Triangle neighborhood of Eden Prairie. Josh Talberg, Scott Loving, Joe Peris, Matthew Schoenfeldt, Colin Ryan and Will Hintz of JLL represented the borrowers, Greco and Eagle Ridge Partners. JLL arranged a $39.1 million three-year, floating-rate loan through MidWestOne Bank and sourced $16.5 million in joint venture equity from Amstar Group. Construction is scheduled to begin immediately. The six-story development will offer a mix of studios, one-, two- and three-bedroom units, with 25 percent of the homes designated as affordable at 50 to 80 percent of the area median income. The project features 167,312 square feet of rentable space and 263 parking stalls. Amenities will include an outdoor pool, golf simulator, wellness center, work-from-home spaces, a theater room, clubroom, private dining area and underground parking. There are more than 9 acres of wetlands. Designed by BKV Group, the project represents the second phase of a transit-oriented development that will be directly connected to the Golden Triangle Station on the Southwest Light Rail Transit Green Line Extension, scheduled to …

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