Development

Marquette Cos. Begins Leasing 300-Unit Residential Project in Metro Houston

by Taylor Williams March 18, 2025

THE WOODLANDS, TEXAS — Marquette Cos., an Illinois-based developer, has begun leasing The Sylvan, a 300-unit residential project located about 30 miles north of Houston in The Woodlands. The Sylvan consists of 188 single-family rentals and townhouses and 112 apartments. Single-family homes feature three- and four-bedroom floor plans, range in size from 1,495 to 1,805 square feet and include private yards and garages. Ranging from 1,456 to 1,581 square feet, townhomes have two- and three-bedroom floor plans with attached garages and private outdoor space. Apartments come in one-, two- and three-bedroom formats and range in size from 650 to 1,574 square feet. Amenities include a clubhouse, pool, fitness center and walking paths. Rents start at $1,700 per month for a one-bedroom unit. Construction of The Sylvan began in October 2023.

March 18, 2025

Development Restaurant Retail Texas

Jack Allen’s Kitchen Opens 7,000 SF Restaurant in Hutto, Texas

by Taylor Williams March 18, 2025

HUTTO, TEXAS — Jack Allen’s Kitchen, a food-and-beverage concept that specializes in Texas-based cuisine, has opened a 7,000-square-foot restaurant in Hutto, a northern suburb of Austin. The restaurant was built from the ground up within the 35-acre Hutto Co-Op District and will be able to house about 275 patrons between its indoor and patio dining spaces. Designtrait Architects designed the restaurant.

March 18, 2025

Affordable Housing Development Loans Multifamily New York Northeast

Partnership Receives $51.7M in Financing for Queens Affordable Housing Project

by Taylor Williams March 18, 2025

NEW YORK CITY — A partnership between Brisa Builders Development LLC and PMG Affordable has received $51.7 million in financing for a 92-unit affordable housing project that will be located in the Far Rockaway area of Queens. The financing package primarily consists of $28.4 million in construction financing from Bank of America; a $12.9 million supportive housing loan from the New York City Department of Housing Preservation & Development; and $8.3 million from the New York State Homes & Community Renewal. The capital stack also includes $23.7 million in Low-Income Housing Tax Credit equity. The nine-story building at 19-19 Cornaga Ave. will offer studio, one- and two-bedroom residences ranging in size from 331 to 652 square feet, with 60 units to be designated as supportive housing units and the other 30 to serve as Federal Housing Trust units. Amenities will include a fitness center, lounge, computer room and a multi-purpose room to accommodate community programs, classes and recreational activities, as well as an outdoor courtyard with a playground. Urban Atelier Group is the general contractor for the project, and Paul Castrucci Architects is handling design. Completion is slated for late 2026.

March 18, 2025

Acquisitions Development Florida Mixed-Use Retail Southeast

Ardent Acquires 1.1 MSF Seminole Towne Center Mall in Central Florida, Plans Mixed-Use Redevelopment

by John Nelson March 18, 2025

SANFORD, FLA. — The Ardent Co. has acquired Seminole Towne Center Mall, a 1.1 million-square-foot regional mall located in Sanford, roughly 28 miles northeast of Orlando. The Atlanta-based investor plans to develop the property into a mixed-use development. According to several local media outlets, Ardent purchased the mall from Hollywood, Fla.-based 4th Dimension Properties for roughly $17.5 million. While plans for the 76-acre property will include the addition of new retailers, multifamily housing and a hotel, the center’s four anchor tenants — Dillard’s, JC Penney, Dick’s Sporting Goods and Elev8 — will remain at the property. Seminole Towne Center Mall originally opened in 1995 and officially closed for redevelopment in January.

March 18, 2025

California Development Multifamily Western

MBK Rental Living Debuts Solana at Duarte Station Apartment Community in California

by Amy Works March 18, 2025

DUARTE, CALIF. — MBK Rental Living has opened Solana at Duarte Station, a five-story apartment community located at 1740 Fasana Road in Duarte. The community offers 292 studio, one-, two-, three- and four-bedroom apartments, ranging from 534 square feet to 2,802 square feet. Each unit features open floor plans, natural light and oversized low-E windows. Select floor plans feature private patios or balconies and walk-in closets. Community amenities include a clubhouse, fitness center and yoga studio, coworking spaces, a pool, game lounge, dog lounge, spa and park, a cabana club and social courtyard equipped with outdoor kitchen and dining areas, fire pits and lounge chairs.

March 18, 2025

Development Student Housing Texas Top Stories

Subtext, Larson Capital Management to Develop 1,738-Bed Student Housing Project Near Texas A&M University

by John Nelson March 18, 2025

COLLEGE STATION, TEXAS — Subtext, a student housing and multifamily owner-operator based in St. Louis, has partnered with Larson Capital Management for a two-phase student housing development near Texas A&M University in College Station. The project will include EVER College Station (176 units, 545 beds) and VERVE College Station (382 units, 1,193 beds), which will be situated across the street from one another in the city’s Northgate Entertainment District, less than two blocks from campus. EVER will rise seven stories at 401 Stasney St. and include 420 parking spaces, while VERVE will rise 21 stories at 311 Stasney St. and feature 882 parking spaces. The properties will feature layouts ranging from studios to five-bedroom apartments, as well as a combined 55,000 square feet of amenity space (29,000 square feet of indoor and 26,000 square feet of outdoor). The specific amenity offerings will include open lounges, study rooms, a coffee bar, mini market, fitness center, sauna, meditation rooms, outdoor fitness spaces, multi-sport simulator, indoor/outdoor bar and kitchen. Other amenities will include a resort-style pool with poolside cabanas, a jumbotron TV and a sky lounge with a spa, as well as outdoor grilling stations, fire pits, a dog run and a game …

March 18, 2025

Development Multifamily Texas

JPI Breaks Ground on 373-Unit Multifamily Project in The Colony, Texas

by Taylor Williams March 17, 2025

THE COLONY, TEXAS — Multifamily developer JPI has broken ground on Jefferson Morningstar, a 373-unit project in The Colony, a northern suburb of Dallas. The garden-style property will offer studio, one-, two- and three-bedroom apartments. Amenities will include a pool, fitness center, dog park, coworking spaces and a clubhouse. JPI is partnering with Nomura Real Estate Development Co. Ltd. and Yoram Avneri, the original owner of the land, on the project. The first residences are expected to be available for occupancy by early 2027.

March 17, 2025

Development Multifamily New York Northeast

Quinlan, GTIS Near Completion of 197-Unit Multifamily Project in Brooklyn

by Taylor Williams March 17, 2025

NEW YORK CITY — A partnership between locally based firm Quinlan Development Group and global investment group GTIS Partners is nearing completion of Longview, a 197-unit multifamily project at 380 4th Ave. in the Gowanus neighborhood of Brooklyn. The 17-story building will house parking and retail space and have an affordable housing component. Units will come in one- and two-bedroom formats, and amenities will include a fitness center, gaming lounge, coworking spaces and a rooftop terrace. Los Angeles-based CIT is financing construction of the project, which was first announced in late 2022. Leasing is set to begin in the second quarter.

March 17, 2025

Development Industrial Loans New York Northeast

Ridgecut Road Breaks Ground on 146,075 SF Spec Industrial Project in Montgomery, New York

by Taylor Williams March 17, 2025

MONTGOMERY, N.Y. — New York-based developer Ridgecut Road has broken ground on a 146,075-square-foot industrial speculative project in Montgomery, located about 70 miles northwest of Manhattan. The site spans 13.6 acres, and the facility will be branded I-84 Orange County Logistics Center. Building features will include a clear height of 36 feet, 31 dock doors and parking for 16 trailers and 83 cars. Pratt Design Studio and Premier Design + Build Group are serving as the architect and general contractor, respectively, and JLL is the leasing agent. John Alascio, T.J. Sullivan, Chuck Kohaut and Mitch Rothstein of Cushman & Wakefield arranged $20 million in construction financing for the project through Catal Capital. Completion is slated for the fourth quarter.

March 17, 2025

Development Multifamily North Carolina Southeast

Crescent Communities, GID Open 336-Unit Multifamily Property in Morrisville, North Carolina

by John Nelson March 17, 2025

MORRISVILLE, N.C. — A joint venture between Crescent Communities and GID has opened Novel Morrisville, a 336-unit multifamily community located at 218 Southport Drive in Morrisville. Situated about 14 miles west of Raleigh, the property is a walkable master-planned community that houses the Wake Competition Center, a practice hockey complex for the NHL’s Carolina Hurricanes. Novel Morrisville features a mix of studio, one-, two- and three-bedroom floorplans, as well as 10 carriage-style townhomes. Unit sizes range from 532 square feet to 2,128 square feet. Monthly rental rates at the complex begin at $1,415, according to Apartments.com. Amenities include a saltwater swimming pool with cabanas, two-story fitness center, community library, clubroom, full-scale indoor rock-climbing wall, walking and biking trails and an onsite Land of a Thousand Hills coffee shop. Crescent Communities Construction was the general contractor. The project architect and interior designer was Hord Coplan Macht, and the civil engineer and landscape architect was Kimley-Horn. U.S. Bank was the project lender.

March 17, 2025

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