COLUMBUS, OHIO — Vista Residential Partners has broken ground on Greenway Vista, a 312-unit multifamily development in Columbus. Situated near Rickenbacker Airport and Anduril’s planned mega-facility, Greenway Vista will offer a mix of one- and two-bedroom apartments averaging approximately 840 square feet in size. Parse Capital and Old National Bank provided financing for Greenway Vista. Designed by Columbus-based ArchAll Architects, the garden-style apartment community will feature a 6,500-square-foot clubhouse with fitness and business centers, resort-style swimming pool with cabanas and grilling area, a large central green area with a gameday pavilion and outdoor grill station, community garden and a pet park. The 25-acre community will also have direct access to Blacklick Greenway Trail, a 12-mile trail that runs between Reynoldsburg and Groveport on the southeastern edge of Columbus.
Development
WAWA, PA. — Wawa Inc., a gas station and convenience store chain, has opened its first three stores in Indiana. Located in Daleville, Nobleville and Clarksville, the new stores are the first of eight stores slated to open by the end of the year. Additional store locations in Indiana are planned in Brownsburg, Cumberland, Plainfield and Westfield. Wawa expects to open its next store in Indianapolis at 3835 E. 96th St. in July. Wawa’s portfolio spans 1,125 stores, including store locations in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Florida, North Carolina, Alabama, Georgia, Ohio, Indiana and Washington, D.C.
GUNTER, TEXAS — Centurion American Development Group has unveiled plans for Platinum Ranch, a 2,000-acre mixed-use development that will be located in the North Texas city of Gunter. The site is located less than a mile from Preston Road and offers frontage along Grayson County Toll Road. Plans call for 4,200 single-family residential homes and 29 acres that will be dedicated to residential villas that are zoned for up to 290 units. Platinum Ranch will also feature 277 acres of commercial and multifamily development, with the latter component having a maximum of about 3,000 units, as well as 223 acres of green space that will include a community park and several amenity centers. Preliminary sitework is scheduled to begin in the fourth quarter.
THE WOODLANDS, TEXAS — Bionova Scientific, a California-based biologics and pharmaceutical company, has opened a new life sciences facility in The Woodlands, about 30 miles north of Houston, according to reports from multiple local new sources such as the Houston Business Journal and Community Impact Newspaper. The former publication reports that the facility is valued at approximately $100 million and would be “used for plasmid DNA and viral vector manufacturing, which plays a role in cell and gene therapy.” Bionova announced the project in summer 2024.
HOUSTON — Locally based developer Triten Real Estate Partners has broken ground on a 392,650-square-foot industrial project in North Houston. The site spans 25 acres at the corner of FM 1960 and Kenswick Drive, and the development will consist of two front-load distribution buildings. Method Architecture is designing the project, and Harvey Builders is serving as the general contractor. CBRE is the leasing agent. Completion is scheduled for February 2026.
NEW YORK CITY — Merchants Capital has arranged $231 million in financing for Eastchester Gardens, an 877-unit affordable housing community in The Bronx. The 10-building development was originally constructed in 1950 and is home to nearly 2,000 people. The bulk of the financing consists of a $221.7 million, 30-year Freddie Mac CME permanent loan, proceeds of which will be used to fund capital improvements and preserve affordability of all units for renters earning 60 percent or less of the are median income. Capital improvements will include upgrades to heating, cooling, plumbing, lighting and electrical systems, as well as new flooring, kitchens and bathrooms and upgrades to common areas and outdoor spaces. In addition, Eastchester Gardens will be listed on the National Register of Historic Places, enabling the use of federal historic tax credits to support the property’s revitalization. The project team includes MDG Design + Construction, Infinite Horizons, Wavecrest Management and the New York City Housing Authority. Construction is underway and expected to be complete in 2028.
WILTON, CONN. — A partnership between AMS Acquisitions and Avenue Realty Capital has broken ground on a $95 million multifamily project in Wilton, located in southern Connecticut’s Fairfield County. The development will offer 208 units in one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, coworking space, music room and outdoor kitchens and grilling stations. Morris Betesh, Alex Bailkin and Matt O’Hanlon of Arrow Real Estate Advisors arranged a $71 million construction loan for the project through Madison Realty Capital. Scott Gance of Partners Commercial Real Estate represented the joint venture in its acquisition of the land. A tentative completion date was not announced.
NEW YORK CITY — A partnership between Safehold (NYSE: SAFE), a New York City-based REIT that specializes in ground-lease deals, and The Michaels Organization will develop The Benjamin, a 364-unit apartment community in the Central Massachusetts city of Worcester. Residences will come in studio, one- and two-bedroom floor plans and will feature private balconies or courtyards. Amenities will include coworking areas, a game room, roof deck, fitness center, pet spa and work-from-home spaces. A construction timeline was not announced.
BOUND BROOK, N.J. — Locally based developer Denholtz has completed The Rail at Bound Brook, a 143-unit multifamily project located about 50 miles southwest of Manhattan. The six-story building offers studio, one- and two-bedroom units and amenities such as a fitness center, game room, courtyard and outdoor grilling and dining areas. Citizens Bank financed the project, construction of which began in May 2023. Rents start at approximately $1,800 per month for a studio apartment.
Newmark Arranges $63M Construction Loan for Multifamily Project in Steamboat Springs, Colorado
by Amy Works
STEAMBOAT SPRINGS, COLO. — Newmark has arranged a $63 million construction loan for the development of the first phase of ROAN Steamboat Springs, a multi-phased, lift-serviced residential community within Wildhorse Meadows in Steamboat Springs. The borrower is a Steamboat Meadows LLC, a partnership between RAL Development Services, KZ Capital and Latitude Investment Properties. Jordan Roeschlaud, Jonathan Firestone, Nick Scribani and Tim Polglase of Newmark Debt & Structured Finance arranged the financing with Builders Capital. Ryan Shattuck and Jon Wade of The Steamboat Group are marketing the property.