Development

CHARLOTTE, N.C. — Mill Creek Residential has begun leasing Modera Liberty Row, a 239-unit apartment community located at 7740 Liberty Row Drive in Charlotte’s SouthPark neighborhood. The community will offer studio, one-, two- and three-bedroom options averaging 1,100 square feet in size. Monthly rental rates at Modera Liberty Row range from $1,950 to $4,500, according to the property website. Amenities will include a resort-style pool, fitness center with a yoga studio, four elevated courtyards, multiple clubrooms, game room, golf simulator lounge, bocce ball courts, coworking spaces, private offices, pet spa, bicycle storage, 24/7 self-serve package room and secured parking garages with EV charging stations. The two-building property is located on The Loop, a three-mile urban trail, and within close proximity to Piedmont Town Center, Phillips Place and SouthPark Mall. Mill Creek anticipates first move-ins at Modera Liberty Row in June.

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FUQUAY-VARINA, N.C. — Foundry Commercial has brokered the sale of a nearly 30-acre industrial land site along the N.C. Highway 55 corridor in Fuquay-Varina. The buyer, Chicago-based Stotan Industrial, will deliver approximately 487,200 square feet of small-bay industrial space across three new buildings. Stotan anticipates the project, its first in the Raleigh-Durham region, will be delivered in second-quarter 2026. Jim Allaire, Sarah Godwin and Karl Hudson IV of Foundry represented the undisclosed seller in the transaction. The project represents the first large-scale, institutionally designed industrial development in Fuquay-Varina in decades, according to Foundry Commercial.

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WACO, TEXAS — Texas-based Parkspring Multifamily will develop a 392-unit multifamily project within the Cottonwood Creek master-planned development in Waco. Commons at Cottonwood Creek will offer a mix of one- and two-bedroom apartment homes that will range in size from 754 to 1,028 square feet. Residences will feature stainless steel appliances, quartz countertops, wood-vinyl plank flooring, full-size washers and dryers, smart-home technology and private yards in select units. Amenities will include a resident clubhouse with a kitchen, coffee bar, pool table, golf simulator and TVs; a business center with private conference rooms and coworking spaces; a resort-style pool with tanning ledges; a fully equipped athletic club; outdoor kitchen areas; and an onsite dog park. EDI International is the project architect, and OHT Partners is the general contractor. Construction will begin this month and is expected to be complete in mid-2027. NewQuest is the master developer of Cottonwood Creek.

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RALEIGH, N.C. — Kane Realty Corp. has broken ground on The Strand, a new 20-story apartment high-rise in Midtown Raleigh’s North Hills district. The multifamily tower, which will feature 362 apartments and 9,000 square feet of retail space, will be situated adjacent to the recently sold Advance Auto Parts Tower. The Strand will comprise studio, one-, two- and three-bedroom apartments, as well as top-floor penthouses. The community will also feature an amenity deck on the sixth floor that will include a resort-style pool, grilling area, activity lawn, fitness center and club room, as well as a clubroom on the 18th floor and a speakeasy on the top level that is exclusive for penthouse residents. The project team includes development partner Mitsui Fudosan America, architect Rule Joy Trammell + Rubio, general contractor Balfour Beatty and civil engineer McAdams. Kane Realty plans to welcome first residents at The Strand in summer 2027. The locally based development and management firm is also underway on planning for Phase II of the site.

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NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $166 million construction loan for a 367-unit multifamily project that will be located at 280 Bergen St. in the Boreum Hill area of Brooklyn. Designed by Fischer Rasmussen Whitfield Architects, the four-building development will consist of three 11-story buildings and one 12-story building in addition to 9,700 square feet of commercial space and 40 parking spaces. Residences will come in studio, one- and two-bedroom floor plans, and amenities will include a fitness center with a yoga studio, theater, game room, lounge and a children’s playroom. Galaxy Capital arranged the 30-month loan on behalf of the borrower, locally based developer Goose Property Management. Construction is expected to last about 28 months.

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ASHEVILLE, N.C. — Cushman & Wakefield has brokered the sale of an eight-acre multifamily development site in Asheville. Atlanta-based Shelton McNally Real Estate Partners purchased the shovel-ready site from Golden Hour Collective with plans to develop a new 210-unit apartment community. Alex Phillips, Battle Smith, Alex McDermott and Sparling Davis of Cushman & Wakefield’s Sunbelt Multifamily Advisory Group represented Golden Hour in the land deal. Specific plans and construction timelines for the development were not released. The site is located within Overlook at Ashville, a 98.8-acre master-planned community that is approved for the 210 apartments, as well as 130 build-to-rent townhomes and up to 176 duplex units. The development is situated on a sloping mountainside within a few miles of downtown Asheville.

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SAN DIEGO AND ENCINITAS, CALIF. — Raintree Partners is investing more than $225 million in the San Diego housing market with the development of three Class A multifamily communities. Totaling 498 units, the properties include Treehouse and Flora + Fauna in San Diego’s Bankers Hill neighborhood and Dos Lunas in Encinitas. Currently under construction, the eight-story, 115,453-square-foot Treehouse is located at 2525 1st Ave. in San Diego’s Bankers Hill district. The 107-unit community will feature studio, one- and two-bedroom floor plans, a fitness center and sauna, a Zen spa deck and a roof deck with outdoor dining and lounge space with ocean and bay views and an herb garden adjacent to an outdoor kitchen/garden zone. The asset is slated for completion in November. BDE is serving as architect and ECON Construction is serving as contractor. Flora + Fauna, located at 411 Ivy St. in San Diego’s Bankers Hill, will encompass 115,453 square feet spread across two buildings featuring six levels. The property will offer a sauna, spa and cold plunge, a coworking lounge and a roof deck with ocean and city views. Slated for completion in mid-2026, the community will offer 189 studio, one-, and two-bedroom floor plans, as well as …

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CENTENNIAL, COLO. — Opus has broken ground on Catalyst Industrial, a Class A speculative industrial development in Centennial. Situated on 14.3 acres at 15030 E. Fremont Drive, Catalyst Industrial will offer 188,054 square feet of space. Designed to accommodate up to six tenants, the building can be divided into units as small as 21,000 square feet. The asset will feature a clear height of 32 feet, 28 truck doors, six drive-in dock doors and parking for 268 vehicles. Opus is the developer, design-builder, architect and structural engineer of record on the project, which is slated for completion in early first-quarter 2026. Todd Witty and Daniel Close of CBRE will market the facility for lease.

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SALEM, MASS. — Gilbane Building Co. has begun construction on multiple projects at Salem State University (SSU), located north of Boston, that are part of a “campus unification and modernization” initiative known as SSU Bold. The projects incorporate renovations to the existing Horace Mann building, which has been vacant since 2018, and the expansion of Meier Hall to bring new lab spaces to programs housed in the building. Once these projects have been completed in fall 2027, the university will relocate its South Campus-housed programs to North Campus, unifying its footprint and allowing the planned sale of South Campus to move forward. The new facilities will house nursing, occupational therapy, biology, chemistry and geological sciences programs, as well as various student hubs and flexible classrooms.

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OMAHA, NEB. — Kraus-Anderson (KA) has completed construction of the WarHorse Casino, a $127.6 million gaming facility located at 6303 Q St. in Omaha. WarHorse Gaming LLC, which will manage and operate the expansion of casino gaming, is a division of Ho-Chunk Inc., the economic development corporation of the Winnebago Tribe of Nebraska. I-5 Design was the architect. KA completed construction in two phases. The first phase included a 46,376-square-foot remodel of the existing building and a 247,529-square-foot, four-story parking garage. Phase II includes a 63,365-square-foot, two-story expansion and sky bridge connecting the casino and parking garage. A grand opening is scheduled for Thursday, May 8. The casino features approximately 1,300 slots and 20 table games, of which more than 800 were included in the first phase.

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