Monday, April 28, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Development

Livana-Colts-Neck
DevelopmentMultifamilyNew JerseyNortheast

Kushner Breaks Ground on 360-Unit Multifamily Project in Colts Neck, New Jersey

by Taylor Williams

COLTS NECK, N.J. — New York City-based developer Kushner has broken ground on a 360-unit multifamily project in Colts Neck, about 50 miles south of Manhattan. Designed by Minno & Wasko Architects and Planners, Livana Colts Neck will consist of 15 three-story buildings that will house studio, one-, two- and three-bedroom units. Amenities will include a pool, fitness center, outdoor grilling and dining stations, clubroom, lounge, conference facilities and a dog park. Construction is expected to be complete in spring 2027.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsDevelopmentKansasMidwestMixed-UseRetail

Advisors Excel Begins Revitalization of West Ridge Mall in Topeka, Kansas

by Kristin Harlow

TOPEKA, KAN. — Advisors Excel has acquired the West Ridge Mall in Topeka with plans to convert it into a mixed-use destination with dining, event, entertainment, green and corporate spaces. Advisors Excel is a Topeka-based financial and investment services company. West Ridge Mall, totaling 992,000 square feet, is the third-largest enclosed mall in Kansas. Upon completion of the renovation project, the property will serve as Advisors Excel’s new headquarters, accommodating more than 1,000 employees. Originally opened in 1988, West Ridge Mall has seen a steady decline in business and occupancy over the last decade. Anchor stores Macy’s and Sears closed in 2012 and 2018, respectively. By 2021, the mall’s occupancy rate had dropped to 39 percent. Renovation plans call for a fresh urban design and layout. The new center will incorporate uses such as coworking spaces, theaters, fitness spaces, spas, breweries and cafes. Advisors Excel selected Texas-based investment and development firm Russell Glen to assist with the redevelopment. Architectural firm RDC will be responsible for the design of the retail, entertainment and restaurant components, while Hufft will focus on the design of Advisors Excel’s new headquarters. The mall redevelopment is currently in its initial stages, with Advisors Excel working to …

Continue Reading
FacebookTwitterLinkedinEmail
Ivy Zelman Walker Dunlop multifamily turnover quote from article
Content PartnerDevelopmentFeaturesLeasing ActivityLoansMidwestMultifamilyNortheastSoutheastTexasWalker & DunlopWestern

Multifamily Markets See Silver Lining Despite Economic Headwinds

by Sarah Daniels

Like other property sectors, rental housing assets have experienced big swings in fortunes over the past few years. Historically high rent growth during the pandemic came to a halt amid new supply in many markets. And the end of cheap debt has stymied investment sales and is stressing investors who paid handsomely for apartments using short-term financing. But the situation could be worse. Housing remains in high demand, and despite higher mortgage rates and a collapse in home sales, a severe lack of inventory on the market continues to prop up home values and price out would-be buyers. In May, home prices across the country increased 5.9 percent over the previous year, according to the latest S&P CoreLogic Case Shiller U.S. National Home Price NSA Index. Rental housing owners and operators are the obvious beneficiary of those challenges, says Ivy Zelman, executive vice president and co-founder of Zelman & Associates, a Walker & Dunlop company that provides housing research, analysis and consulting. Move-outs attributed to home purchases clearly illustrate the trend. An apartment and single-family rental operator in Phoenix recently told Zelman that such move-out activity has dropped to about 13 percent from an historical average of 30 percent, she …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialSouth CarolinaSoutheast

Glenstar Logistics Begins Vertical Construction on 550,520 SF Industrial Facility in Gaffney, South Carolina

by John Nelson

GAFFNEY, S.C. — Glenstar Logistics has begun vertical construction on a 550,520-square-foot warehouse in Gaffney. Dubbed CCC-85 Building 2, the development marks the first building within Glenstar’s Cherokee Commerce Center 85. Scheduled for completion in the fourth quarter of this year, the building is being developed on a speculative basis, with the capability to expand to 1.3 million square feet. The property will feature 40-foot clear heights, column spacing of 56 feet by 50 feet, 60-foot speed bays, 232 dock doors, four drive-in doors and up to 604 car parking spaces and 388 trailer spaces. Partners on the project include Creek Lane Capital, general contractor The Conlan Co., architect Ware Malcomb and civil engineer SeamonWhiteside. CrossHarbor Capital Partners is providing $38.2 million in construction financing. John Montgomery, Garrett Scott, Brockton Hall and Dillon Swayngim of Colliers are marketing CCC-85 Building 2 on behalf of ownership.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMultifamilySoutheastTennessee

Wood Partners Nears Completion on 302-Unit Station by Alta Apartments in Nashville

by John Nelson

NASHVILLE, TENN. — Wood Partners is nearing full completion on The Station by Alta, a 302-unit multifamily development at 900 E. Trinity Lane in Nashville. The apartment community, now open for leasing and move-ins, is currently 45 percent leased. Units at The Station by Alta range in size from 550 to 1,152 square feet, with studio, one- and two-bedroom layouts. Amenities at the community include coworking space Alta Work, a 24-hour workout area, swimming pool, dog park and a pet spa. Monthly rental rates at the property begin at $1,540.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaMultifamilySoutheast

Alliance Residential Opens 200-Unit Broadstone Overlands Multifamily Community in Clermont, Florida

by John Nelson

CLERMONT, FLA. — Alliance Residential Co. has opened Broadstone Overlands, a multifamily community located at 5000 Collina Terrace in Clermont, about 26 miles west of Orlando. Totaling 200 units, the property features apartments in one-, two- and three-bedroom layouts, as well as eight townhomes. Amenities at the community — which was designed by MSA Architects with interiors by Atlanta-based Focus Design Interiors  — include a saltwater pool, fitness center, outdoor kitchen and grilling stations, billiards, shuffleboard, two dog parks with wash stations, a 24-hour mail and parcel kiosk, access-controlled parking, valet garbage service, a putting green and high-speed Wi-Fi throughout the property. Monthly rental rates at Broadstone Overlands range from $1,734 to $3,935, according to Apartments.com.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentGeorgiaHospitalitySoutheast

BPR Properties Opens TownePlace Suites by Marriott Brunswick Hotel in Coastal Georgia

by John Nelson

BRUNSWICK, GA. — BPR Properties has opened TownePlace Suites by Marriott Brunswick in Brunswick on the Georgia coast, roughly 80 miles southwest of Savannah. LBA Hospitality will manage the hotel. A ribbon-cutting event is scheduled for Thursday, Aug. 22. This marks BPR’s 17th hotel opened in partnership with LBA. TownePlace Suites by Marriott Brunswick is situated adjacent to Residence Inn Brunswick, another BPR-LBA hotel.

Continue Reading
FacebookTwitterLinkedinEmail
The-Residences-at-OAK
DevelopmentMultifamilyTexas

Mintwood Real Estate Begins Leasing 320-Unit Apartment Community in Oklahoma City

by Taylor Williams

OKLAHOMA CITY — Dallas-based Mintwood Real Estate has begun leasing The Residences at OAK, a 320-unit apartment community in Oklahoma City. The site is situated within OAK, a 20-acre mixed-use project by Veritas Development that will feature 135,000 square feet of retail space, a 132-key boutique hotel by Gatehouse Capital and a 7,000-square-foot green space as part of its initial phase of development. The Residences at OAK features studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, children’s playroom, pool and elevated courtyards. The first move-ins are slated for late August. Rents start at about $1,500 per month for a studio apartment.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentMultifamilyNew YorkNortheast

Joint Venture Acquires Former Church in Manhattan, Plans 500-Unit Affordable Housing Redevelopment

by Taylor Williams

NEW YORK CITY — A joint venture between nonprofit developer Community Access, affordable housing developers Spatial Equity and Duvernay + Brooks, as well as neighborhood preservation organization Cooper Square Committee, has acquired the site of the former St. Emeric church in Manhattan’s East Village. According to Wikipedia, the former Roman Catholic church was originally built around 1950 and closed in 2013 when the Parish of St. Emeric merged with that of nearby St. Brigid’s Roman Catholic Church. The joint venture plans to build more than 500 affordable housing units on the site, including homes for senior New Yorkers, formerly homeless individuals and those with special needs who qualify for supportive services. The development team expects to break ground on the first phase of the redevelopment in 2026 and may also pursue rezoning through a land use review process for the second phase. Denham Wolf Real Estate Services marketed the property for sale on behalf of the parish, which is overseen by The Archdiocese of New York.

Continue Reading
FacebookTwitterLinkedinEmail
23-Cape-Road-Mendon-Massachusetts
DevelopmentIndustrialMassachusettsNortheast

PCCP, Bluewater Property to Develop 205,445 SF Industrial Project in Mendon, Massachusetts

by Taylor Williams

MENDON, MASS. — A joint venture between Los Angeles-based PCCP LLC and regional developer Bluewater Property Group will develop a 205,445-square-foot industrial project in Mendon, about 45 miles southwest of Boston. The site at 23 Cape Road spans 21 acres, and the building will feature a clear height of 32 feet, 34 dock doors, 135-foot truck court depths, 206 car parking spaces and 20 excess trailer parking spaces. Construction is scheduled to begin later this month and be complete by summer 2025.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts