Development

Housing Trust Group Breaks Ground on $33.8M Affordable Housing Project in West Houston

by Taylor Williams April 9, 2025

HOUSTON — Miami-based developer Housing Trust Group has broken ground on The Rushmore, a $33.8 million affordable housing project in the Energy Corridor area of West Houston. The property will house 101 units, 85 of which will be reserved for households earning at or less than 30, 50 and 60 percent of the area median income. The remaining 16 units will be priced at market rates. Residences will come in one-, two- and three-bedroom floor plans, and amenities will include a pool, community clubroom, workroom, fitness center, game room and a designated dog walking path. Completion is slated for spring 2026.

April 9, 2025

Development Maryland Multifamily Southeast

High Street, SREP Break Ground on 300-Unit Apartment Community in Frederick, Maryland

by John Nelson April 9, 2025

FREDERICK, MD. — A joint venture between High Street Residential and SCOA Real Estate Partners (SREP) has broken ground on The Terrace, a 300-unit apartment community located at 10 W. College Terrace in Frederick, about 44 miles northwest of Washington, D.C. The co-developers plan to deliver the midrise project by December 2027. The Terrace will be situated on 8.3 acres and offer views of the nearby Catoctin Mountains via its indoor/outdoor sky lounge. Other amenities will include a resort-style swimming pool, gaming area, EV charging stations and a dog park. The property will feature a mix of one-, two- and three-bedroom apartments ranging in size from 725 to 1,474 square feet. The design-build team includes architect of record Dwell Design Studio and general contractor Morgan-Keller Construction.

April 9, 2025

California Development Healthcare Western

Archer, REDA to Redevelop 78,000 SF Office Building in Newport Beach, California into Medical Outpatient Property

by Amy Works April 9, 2025

NEWPORT BEACH, CALIF. — A joint venture between Archer Property Partners and Real Estate Development Associates (REDA) has approval from the Newport Beach Planning Commission to redevelop the 78,000-square-foot office building at 3300 Irvine Ave. in Newport Beach into Newport Irvine Medical Center. The joint venture originally acquired the asset in 2023 for $18.5 million. The three-story Newport Irvine Medical Center will feature a three-story atrium, modernized common areas and elevators and a flexible, future-proof design to adapt for changing medical technologies and patient needs. The partnership plans to break ground on the project’s new parking structure in June and begin full building renovations in September, with project completion slated for spring 2026 and tenant move-ins in summer 2026. MedWest Realty will handling leasing for Newport Irvine Medical Center.

April 9, 2025

Development Industrial Western Wyoming

Earthcore Industries to Build 30,000 SF Distribution Center in Cheyenne, Wyoming

by Amy Works April 9, 2025

CHEYENNE, WYO. — Earthcore Industries, a Jacksonville, Fla.-based manufacturer and distributor of Isokern fireplaces and chimney systems, is constructing a distribution center in Cheyenne. The 30,000-square-foot facility will streamline Earthcore’s service to its Northwest and Upper Midwest distribution and dealer networks. The project team includes Cheyenne-based Richardson Construction Co. and Fort Collins, Colo.-based VFLA Architecture + Interiors. Groundbreaking is scheduled for April 10.

April 9, 2025

Affordable Housing Development Loans Multifamily New York Northeast

TS Communities Receives $166M in Financing for Affordable Housing Complex in Queens

by Taylor Williams April 9, 2025

NEW YORK CITY — TS Communities, a division of local real estate giant Tishman Speyer, has received $166 million in financing for a 244-unit affordable housing complex in Queens and plans to break ground later this month. The 18-story building will be located within the Edgemere Commons development in the borough’s Far Rockaway neighborhood and follows TS Communities’ development of a 237-unit building that is nearing completion. Units will come in studio, one-, two- and three-bedroom floor plans and will be reserved for renters earning between 40 and 80 percent of the area median income. In addition, 73 units will be set aside as supportive housing. The building will also feature a resident community room, an outdoor space with an adjoining recreation room, a skydeck, onsite parking and laundry facilities, supportive services offices and street-level retail space. Aufgang Architects is designing the project, which is being developed in partnership with the City of New York, as well as with various state housing agencies. A tentative completion date was not announced.

April 9, 2025

Civic Development Midwest Missouri

Tarlton Completes $27.5M Renovation of Old Courthouse in St. Louis

by Kristin Harlow April 9, 2025

ST. LOUIS — Tarlton has completed a $27.5 million renovation of the Old Courthouse in St. Louis. Slated to open to the public this spring, the historic destination has only been renovated twice. The building was originally constructed from 1839 to 1862. The renovation project is jointly funded through a public-private partnership between the National Park Service and Gateway Arch Park Foundation. Tarlton improved safety and accessibility of the site, installing an elevator to make the second floor accessible for the first time in the building’s history. Critical updates also included installation of new heating, air conditioning and fire suppression systems and restoration of all windows. The renovations are the final component of the $380 million CityArchRiver project, the largest public-private partnership in the history of the National Park Service that has resulted in revitalizations to Gateway Arch park grounds, the Arch Visitor Center, Museum at the Gateway Arch, St. Louis Riverfront, Luther Ely Smith Square and Kiener Plaza.

April 9, 2025

Development Florida Hospitality Restaurant Retail Southeast Top Stories

Universal Orlando Resort to Open 750-Acre Epic Universe Theme Park on May 22

by John Nelson April 9, 2025

ORLANDO, FLA. — Universal Orlando Resort’s newest theme park, Epic Universe, is officially opening on May 22, marking the first major theme park to open in Central Florida in 26 years, according to CNN. The new park will include five distinct components: Celestial Park, The Wizarding World of Harry Potter’s Ministry of Magic, Super Nintendo World, How to Train Your Dragon – Isle of Berk and Dark Universe. According to multiple media outlets, Epic Universe is estimated to have cost roughly $7.7 billion to build, although Universal Orlando Resort hasn’t commented on the new park’s price tag. At 750 acres, including both guest areas and backstage space for employees, Epic Universe is also reported to be the largest singular theme park in the world. The main hub of Epic Universe will be Celestial Park, which offers guests two rides — a dual-track roller coaster and a carousel — as well as shops, restaurants and bars. From this hub, guests can choose to enter four other portals, with each leading to a different themed land. Dark Universe brings the famous “Universal Pictures Monsters,” including Dracula, the Wolf Man and the Invisible Man, to life, along with its anchor attraction, “Monsters Unchained: …

April 9, 2025

Development Mixed-Use Texas

Realty Capital Underway on 47-Acre Mixed-Use Development in Granbury, Texas

by Taylor Williams April 8, 2025

GRANBURY, TEXAS — Locally based developer Realty Capital is underway on construction of a 47-acre mixed-use development in Granbury, located southwest of Fort Worth. Known as LakeView Landing, the development will feature both single-family (105 homes) and multifamily (289 units) residential components, retail and restaurant space, a hotel that will be operated under the SpringHill Suites by Marriott flag and a lakefront public park. Texas Bank & Trust provided construction financing for the project, and the City of Granbury has also partnered with Realty Capital on the project. Full completion is slated for 2028.

April 8, 2025

Development Multifamily Texas

Legacy Partners, Resmark Begin Leasing 336-Unit Multifamily Project in Metro Dallas

by Taylor Williams April 8, 2025

FORNEY, TEXAS — A partnership between two California-based firms, developer Legacy Partners and investment manager Resmark Cos., has begun leasing a 336-unit multifamily project in the eastern Dallas suburb of Forney. Rylan at Gateway consists of five three-story buildings on a 14-acre site. Units come in studio, one- and two-bedroom formats and range in size from 540 to 1,360 square feet. Amenities include a pool, outdoor kitchen and gaming courtyard, fitness center, coworking lounge, coffee bar and two dog parks. JHP Architecture designed the project, and BBL Building Co. served as the general contractor. Monthly rents start at under $1,000 for a studio apartment. Construction began in April 2023.

April 8, 2025

Development Multifamily New York Northeast

Slate, RiseBoro Begin Leasing 318-Unit Affordable Housing Redevelopment Project in Queens

by Taylor Williams April 8, 2025

NEW YORK CITY — A partnership between locally based developer Slate Property Group and RiseBoro Community Partnership has begun leasing a 318-unit affordable housing redevelopment project in Queens. The property, which is known as Baisley Pond Park Residences, is a conversion of the 350-room JFK Hilton Hotel in the borough’s Jamaica neighborhood, which was originally built in 1987 and is located about half a mile from JFK International Airport. The new complex houses studio, one- and two-bedroom units and amenities such as a fitness center, computer lounge and multiple common rooms. Monthly rents will range from $784 for a studio to $1,493 for a two-bedroom apartment. As part of the conversion, the development team replaced all major building and mechanical systems, including new all-electric heating and cooling systems to reduce emissions. Aufgang Architects designed the project, which had a total price tag of about $167 million.

April 8, 2025

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