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DevelopmentFloridaMultifamilySoutheast

Curran Young Completes Construction of 412-Unit Multifamily Community in Cape Coral, Florida

by John Nelson

CAPE CORAL, FLA. —  Curran Young Construction has completed Siesta Lakes, a 412-unit multifamily community located in Cape Coral, about nine miles west of Fort Myers, Fla. Construction for the project began in 2023 after the developer, a partnership between Shoreham Capital, Bridge Investment Group and Wynkoop Financial, received a $66 million construction loan. Siesta Lakes offers a mix of one-, two-, and three-bedroom floorplans with open-concept interiors, private balconies and direct views of a private central lagoon. Unit sizes range in size from 676 square feet to 1,195 square feet, according to Apartments.com. Monthly rental rates at the complex begin at $1,500. Leasing at the community began in early 2025 after the delivery of the first building and clubhouse. Onsite amenities include a resort-style pool, fitness center, electric vehicle charging stations, business center, multipurpose room, dog park, outdoor grilling areas and walking trails. Additionally, Siesta Lakes is situated within a Qualified Opportunity Zone and benefits from a long-term tax abatement from the city. 

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Alta-Flatirons-Apts-Superior-CO.
ColoradoDevelopmentMultifamilyWestern

Wood Partners Breaks Ground on 251-Unit Alta Flatirons Apartment Project Near Denver

by Amy Works

SUPERIOR, COLO. — Wood Partners has broken ground on Alta Flatirons in Superior, 22 miles northwest of Denver. The 251-unit building will include a mix of studio, one- and two-bedroom layouts. Amenities feature a lobby area with a coffee bar, clubroom with kitchen and wine storage, library with coworking space, billiards room, conference and game rooms, fitness center, pool and a courtyard with a grilling area and dog park. Wood Partners will complete the project by approximately April 2027. Alta Flatirons is being developed on the last multifamily parcel in the Downtown Superior Masterplan, a 156-acre mixed-use project that is home to residential, office, retail, dining and hotel spaces. The masterplan was approved by the City of Superior in 2013.

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Novo-Apts-Rowland-Heights-CA
AcquisitionsAffordable HousingCaliforniaDevelopmentMultifamilyWestern

Community HousingWorks Buys Metro L.A. Apartment Complex, Plans Affordable Housing Conversion

by Amy Works

ROWLAND HEIGHTS, CALIF. — Community HousingWorks (CHW) has acquired NOVO Apartments in Rowland Heights and will convert the market-rate property into affordable housing. Northmarq arranged the $38.3 million sale as well as a $24.9 million fixed-rate, Freddie Mac acquisition loan for CHW. Stratford Partners Real Estate was the seller. NOVO was constructed in 1974. Additional financing details for the conversion were not disclosed, but CHW often uses its own equity and 4 percent low-income housing tax credits (LIHTC) to fund developments, according to nonprofit directory GuideStar. Rowland Heights is about 23 miles east of Los Angeles. Rent restrictions were not disclosed. Northmarq’s Westlake Village Multifamily Investment Sales team, led by Vince Norris, Mike Smith, Jim Fisher and Tommy Yates, represented Stratford Partners in the transaction. Northmarq’s Newport Beach Debt & Equity team, led by Scott Botsford, Joe Giordani and Brendan Golding, arranged the loan for CHW.

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Terracina-Wildhawk-Apts-Sacramento-CA
Affordable HousingCaliforniaDevelopmentMultifamilyWestern

USA Properties Fund Starts Construction on Terracina at Wildhawk Affordable Housing Community in Sacramento

by Amy Works

SACRAMENTO, CALIF. — USA Properties Fund has started construction on Terracina at Wildhawk, an affordable housing community located at 9750 Gerber Road in Sacramento. Terracina at Wildhawk will offer 145 one-, two- and three-bedroom apartments, with completion slated for summer 2026. Residents must meet income requirements, earning 30 percent to 70 percent of the median income for Sacramento County. Apartments will feature energy-efficient appliances and light fixtures, ceiling fans and low-flow faucets, showers and toilets. Amenities will include a community room, fitness center, swimming pool, dog park and EV (electric vehicle) charging stations. The property will also feature a $3.3 million photovoltaic solar system that will help offset electrical use for residents. Terracina at Wildhawk will include LifeSTEPS, a social services provider that offers a range of services for residents from health living and financial planning classes to programs for children. The $67.9 million development is being funded by a public-private partnership that includes the Sacramento Housing and Redevelopment Agency (SHRA), Sacramento County, JPMorgan Chase and WNC Inc. Sacramento County contributed $1.5 million to offset impact fees for the project, and SHRA provided a $9.2 million loan and bond issuance.

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Aspendale-Northglenn-CO
ColoradoDevelopmentMultifamilySeniors HousingWestern

Headwaters Group Launches New Aspendale Active Adult Brand

by Amy Works

DENVER — Headwaters Group, a Denver-based real estate owner and developer, has launched a new active adult brand. Dubbed Aspendale, the brand will serve residents age 55 and older at a portfolio of communities across Colorado and the western United States.  The current Aspendale portfolio comprises four communities scheduled to open between late 2025 and mid-2026. Located in Centennial, Colo., Aspendale Centennial will total 200,000 square feet and 172 apartments. Now leasing, the property is scheduled to open in late 2025.  Aspendale Northglenn in Northglenn, Colo., is also currently leasing and totals 172 units. The property will open in early 2026 and will include an 8,800-square-foot clubhouse.  Aspendale Littleton in Littleton, Colo., is scheduled for completion in mid-2026, with leasing scheduled to begin this fall. Upon completion, the property will feature 190 apartments and a two-story, 10,000-square-foot clubhouse.  In Scottsdale, Ariz., Aspendale Scottsdale is scheduled to begin move-ins in October 2026. In addition to 161 apartment units, the community will feature 10 single-story duplex cottages.  Amenities at Aspendale communities include fitness centers, outdoor turf areas, art studios, card rooms, swimming pools, dining courtyards and dog parks. 

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The-Brickyard-Houston
DevelopmentIndustrialTexas

Urban Logistics Realty Breaks Ground on 542,851 SF Spec Project in Northwest Houston

by Taylor Williams

HOUSTON — Dallas-based Urban Logistics Realty has broken ground on The Brickyard, a 542,851-square-foot speculative project in northwest Houston. The Brickyard will be a three-building development at 5020 Acorn St. whose structures will have a mix of configurations, as well as ample car and trailer parking. Urban Logistics Realty is developing the project in partnership with Principal Asset Management. Other project partners include Powers Brown (architect), Harvey Builders (general contractor), Kimley-Horn (civil engineer), Pinnacle (structural engineer), First United Bank & Trust (construction lender) and Stream Realty Partners (leasing agent). Completion is slated for mid-2026.

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The-Cliff-Henderson-NV
DevelopmentNevadaRetailWestern

City of Henderson Approves Development Plans for $50M Retail Project in Metro Las Vegas

by Amy Works

HENDERSON, NEV. — The City of Henderson has approved development plans for The Cliff, a $50 million open-air retail and dining destination located in Henderson, roughly 15 miles outside Las Vegas. A 100,000-square-foot office complex on the property will be redeveloped into a pedestrian-friendly, retail-oriented environment that will feature landscaped courtyards, breezeways, public art, live music and a kiosk village named “The Yard.” Serving as the gateway to the Green Valley Ranch master-planned community, The Cliff will be Henderson’s first retail development in more than 20 years. Construction is expected to begin in October, with a grand opening scheduled for fall 2026. A partnership between San Diego-based CAST and Los Angeles-based Partners Capital will be leading the project. Dubbed as Southern Nevada’s first “anti-mall,” the project aims to replace the traditional strip mall and big-box retail model with a walkable, community-centric gathering place.

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DevelopmentFloridaMixed-UseMultifamilySoutheast

Hines, Urban Street Development Top Off Second Multifamily Building at $500M FAT Village in Fort Lauderdale

by John Nelson

FORT LAUDERDALE, FLA. — Hines and Urban Street Development (USD) have completed vertical construction of the second multifamily building at FAT Village, an 835,000-square-foot, $500 million mixed-use development in Fort Lauderdale’s Flagler Village neighborhood. Upon completion of Phase I, FAT Village will feature 80,000 square feet of experiential retail, a 1,200-space commercial parking structure and 600 residential units across two multifamily buildings, the first of which was topped out in March. Later this year, Hines and USD will top off T3 FAT Village, a 180,000-square-foot mass timber office building. T3 (which is named for timber, transit and technology) is slated for completion in 2026. Blanca Commercial Real Estate is leading pre-leasing efforts for the office space. 

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DevelopmentGeorgiaMixed-UseMultifamilyRestaurantRetailSoutheast

High Street, Third & Urban Plan Mixed-Use Development in Sandy Springs, Georgia

by John Nelson

SANDY SPRINGS, GA. — A partnership between High Street Residential (HSR), the residential subsidiary of Trammell Crow Co. (TCC), and Third & Urban have announced plans for the development of Hillcrest, an 8.1-acre mixed-use development located in the Atlanta suburb of Sandy Springs. Scheduled to break ground this month, the project will feature 362 apartment units, 30 for-rent townhomes and more than 18,000 square feet of retail space. In collaboration with the seller, Sandy Springs United Methodist Church, proceeds from the sale will fund capital improvements to the church’s primary campus. Improvements will also be made to the surrounding street infrastructure, adding on-street parking and connected walkability to the area. The project team will include Cooper Carry (architect), Square Feet Design (retail consultant and interior designer), New South Construction (general contractor), Citizens Bank (lender) and Wesley Community Development (church advisor). Amy Fingerhut of CBRE is handling leasing negotiations. The townhomes will offer two- and three-bedroom floorplans with two-car garages and rooftop patios, while the apartment building will measure up to five stories tall and feature a parking garage with more than 100 public parking spaces. Amenities at the apartment will include a rooftop swimming pool and clubroom, golf simulator lounge, …

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DevelopmentDistrict of ColumbiaLoansMixed-UseMultifamilySoutheast

Pearlmark Provides $58M Mezzanine Loan for Multifamily Development in D.C.

by John Nelson

WASHINGTON, D.C. — Pearlmark has provided a $58 million mezzanine loan for the development of Portals IV, a 356-unit multifamily project underway in the Southwest Waterfront neighborhood of Washington, D.C. Pearlmark originated the loan via its investment fund, Pearlmark Mezzanine Realty Partners VI LP.  David Webb and John Rehberger of CBRE arranged financing for the development, along with Mark Witt of Pearlmark.  Kennedy Wilson provided the senior loan. The borrower and developer is Republic Properties, a subsidiary of the Republic Family of Cos. Portals IV is situated within walking distance of two Metro stations and will be the final addition to the Portals complex, a 3 million-square-foot mixed-use development that comprises three office buildings, one luxury apartment building and a hotel. Amenities at Portals IV will include a rooftop swimming pool and walkway, resident package locker room with dry cleaning pickup, fireplace lounge, fitness center and spin room, library, golf simulator, game room, coworking spaces, concierge services and a rooftop amenity lounge on the 13th floor. Outdoor grilling stations, private dining rooms, commercial laundry facilities and a coffee bar will also be available for resident use.

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