Development

EAH Housing to Convert Assisted Living Facility into Affordable Housing Units in Glendale, California

by Amy Works May 22, 2025

GLENDALE, CALIF. — EAH Housing, in collaboration with Egan | Simon Architecture and ICON National, will convert Parkview Glendale, an assisted living facility in Glendale, into an affordable housing property. Originally built in 1973, the former assisted living facility will be adapted to feature 20 studio apartments ranging from 350 square feet to 360 square feet, 47 one-bedroom apartments ranging from 400 square feet to 475 square feet, and a 750-square-foot manager unit. All units will feature energy-efficient appliances, central heat and air and window coverings. Designed to serve older adults earning 30 percent to 60 percent of the area median income, the 43,000-square-foot community will offer a community room, community garden, spacious courtyards, a resident lounge, elevator, onsite laundry, management offices and ample parking. EAH Housing will also provide an onsite resident services coordinator and collaborate with local organizations to offer specialized programs to enhance residents’ well-being.

May 22, 2025

Development Multifamily New York Northeast

Alchemy-ABR Investment Partners Tops Out 45-Unit Apartment Building in Manhattan

by Taylor Williams May 22, 2025

NEW YORK CITY — Alchemy-ABR Investment Partners has topped out a 45-unit apartment building at 288 E. 88th St. on Manhattan’s Upper East Side. Designed by Hill West Architects, the 24-story, 350-foot building will ultimately house 45 residences and offer amenities such as a fitness center, a multipurpose sports court, children’s playroom, media/gaming room, coworking space and a rooftop terrace. Leeding Builders Group is serving as the general contractor for the project, which is expected to open to residents next year.

May 22, 2025

Development Industrial Midwest Missouri

Master’s Transportation Opens Phase I of $72M Headquarters in Kansas City

by Kristin Harlow May 22, 2025

KANSAS CITY, MO. — Master’s Transportation, a provider of commercial buses and vans, has opened Phase I of its new headquarters in Kansas City. The 32,000-square-foot service building consolidates the company’s parts and local service departments. According to Master’s Transportation, bringing the team together will enhance service delivery through a modernized parts storage and fulfillment center, cutting delivery times by 70 percent. The service building features a body shop, large paint booth and detailing areas. The building marks the first of three phases being built at the company’s new headquarters, which is located at 14655 Prospect Ave. Completion of the campus is slated for this summer. The project will include a 252,000-square-foot production facility, 36,000-square-foot office and nearly 1 million square feet of concrete paving for bus parking.

May 22, 2025

Development Illinois Leasing Activity Midwest Office

BGO Completes $8M Amenity Center at Chicago Office Tower

by Kristin Harlow May 22, 2025

CHICAGO — BGO has completed an $8 million amenity center within its office tower at 200 W. Madison in Chicago in collaboration with architecture firm Gensler. The owner credits the amenity center with contributing to a surge in leasing activity at the building. Over the past 16 months, CBRE’s Jason Houze, Michael Kazmierczak and Aaron Schuster have arranged 189,000 square feet of new leases and renewals at the property. New lease signings include Wallace Miller, Sanchez Daniels & Hoffman, NOVO Advisors, Aerotek, Beyond Risk and Houlihan Capital. Renewals and expansions include The Hartford Insurance, UB Greensfelder LLP, PJT Partners, Pinnacle Actuarial Resources Inc., Dehay & Elliston, Crystal Equation Corp. and Savant Capital. The full-floor amenity center includes a fireplace lounge, coworking areas, a fitness center, conferencing center, large boardrooms and a game room with a golf simulator, pool table and shuffleboard. The space is professionally managed and operated by The Experience Group. JLL manages the property. Over the past year, BGO also delivered two move-in ready office suites in the building. Leases were executed within the first month of delivery for both suites. Approximately 133,000 square feet of space is available for lease in the building, with spaces ranging from …

May 22, 2025

Development Industrial New York Northeast Property Type Top Stories

Innovo Property Group Tops Out 736,000 SF Queens Industrial Facility in New York City

by Hayden Spiess May 22, 2025

NEW YORK CITY — Innovo Property Group (IPG) has topped out Review Avenue Complex, a 736,000-square-foot industrial project in Queens. IPG is developing the facility in partnership with the Urban Investment Group (UIG) at Goldman Sachs Alternatives. Located in New York City’s Borden Innovation District, Review Avenue Complex is situated off of the Long Island Expressway. Completion is scheduled for the fall. Totaling six stories, the development will feature flexible floor plates, with suites starting at 31,000 square feet. Each floor is designed to accommodate up to two tenants, with truck access at each level via a 35-foot-wide ramp. The facility will offer clear heights up to 32 feet, four freight elevators, heavy power and is photovoltaic and electric vehicle ready. Each level will also feature loading docks and parking. In total, the development will accommodate 116 cars and 118 oversized vehicles. In June 2023, IPG received $354 million in financing for the project, including construction financing from Axos Bank and Cerberus Capital Management and equity from Goldman Sachs Asset Management. New York City-based IPG acquires and manages assets in metro New York City. The company recently completed the Borden Complex, a 1 million-square-foot industrial development also located in New …

May 22, 2025

Colorado Development Multifamily Western

The Garrett Companies to Develop Two Multifamily Communities in Metro Denver

by Amy Works May 21, 2025

LONGMONT AND COLORADO SPRINGS, COLO. — The Garrett Companies is developing two apartment communities in Longmont and Colorado Springs. The combined development value of the two properties is $145 million. Wintrust provided a construction loan for the Longmont property, while National Bank of Indianapolis provided a construction loan for the Colorado Springs asset. Located at 245 Bountiful Ave. in Longmont, the garden-style project will offer 224 one-, two- and three-bedroom apartments, with 12 percent of the units income restricted. The asset will include one four-story and 10 two-story buildings, a resort-style pool and spa with cabanas, a fitness center, TV lounges, pickleball courts and a dog park. Construction for the $90 million project is slated for completion in early 2027. Humphreys & Partners is serving as architect for the development. Situated on the southwest corner of Rio Vista Drive and Barnes Road in Colorado Springs, the garden-style property includes four four-story buildings with a mix of 41 percent one bedrooms, 41 percent two bedrooms and 18 percent three bedrooms. Each of the 163 units will have a full-sized washer/dryer. Community amenities will include a resort-style pool and spa and cabanas, a fitness center, dog park, clubhouse with lounge, billiards and arcade …

May 21, 2025

Development Multifamily New York Northeast

BRP Cos. Completes 292-Unit Multifamily Project in Farmingville, New York

by Taylor Williams May 21, 2025

FARMINGVILLE, N.Y. — BRP Cos. has completed Arboretum at Farmingville, a 292-unit multifamily project on Long Island. The 62-acre site at 20 Maple Lane is located within the Town of Brookhaven and includes a public park with walking trails and picnic areas. The development consists of 82 two-bedroom flats, 82 lofts, 63 two-bedroom townhomes, 14 three-bedroom townhomes and 51 three-bedroom single-family houses, with 30 units reserved for workforce housing. The amenity package comprises a fitness center with a yoga room, pool and cabana area, clubhouse with an entertainment kitchen, courts for tennis, pickleball and bocce ball, a putting green, playground, dog run and a business center with conference rooms. Santander Bank financed construction of the project, which began in summer 2022, and Basis Investment Group was the preferred equity investor. Rents start at $3,495 per month for a two-bedroom, market-rate apartment.

May 21, 2025

Acquisitions Development Multifamily New York Northeast

CBRE Brokers $27M Sale of Multifamily Development Site in White Plains, New York

by Taylor Williams May 21, 2025

WHITE PLAINS, N.Y. — CBRE has brokered the $27 million sale of a multifamily development site in White Plains, located north of New York City. The site at 60 S. Broadway spans 3.6 acres on the eastern edge of the downtown area and is approved for the development of two high-rise buildings totaling 814 units. Jeffrey Dunne, Eric Apfel and Travis Langer of CBRE represented the seller, Quarterra Multifamily Communities, in the transaction. The buyer was an affiliate of New York-based investment and development firm Stagg Group. A construction timeline was not disclosed.

May 21, 2025

Development Multifamily Texas

McGrath Real Estate Completes 400-Unit Multifamily Project in Houston

by Taylor Williams May 20, 2025

HOUSTON — Locally based developer McGrath Real Estate Partners has completed a 400-unit multifamily project in Houston’s Design District. Artistry Design District offers studio, one- and two-bedroom units that are furnished with quartz countertops, tile backsplashes, built-in desks, walk-in closets, stainless steel appliances and individual washers and dryers. Amenities include a pool, fitness center, resident lounges, a communal kitchen, coworking spaces and a pet park. Artistry Design District also features a stage for live music and other entertainment events. Move-ins are underway, and the property is now 57 percent occupied.

May 20, 2025

Development Loans Multifamily Texas

S3 Capital Provides $46.5M Construction Loan for Denton Multifamily Project

by Taylor Williams May 20, 2025

DENTON, TEXAS — S3 Capital, the lending arm of New York City-based investment firm Spruce Capital Partners, has provided a $46.5 million construction loan for a 306-unit multifamily project in the North Texas city of Denton. Phase I of the garden-style development will consist of three 12-story buildings, and the property will ultimately offer amenities such as a pool, fitness center, business center and a dog park. Mauricio Ordoñez, Gastón Schneider and Carlos Vázquez of Florida-based Q Kapital Group arranged the loan on behalf of the sponsor, national developer Landmark Cos. Information on floor plans and a construction timeline was not disclosed.

May 20, 2025

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