Development

LeCesse, MAS Break Ground on 258-Unit Multifamily Project in Elizabeth, New Jersey

by Taylor Williams February 12, 2026

ELIZABETH, N.J. — A partnership between Florida-based LeCesse Development Corp. and New Jersey-based MAS Development Group has broken ground on ECCO, a 258-unit multifamily project in Elizabeth, located just outside of Newark. The four-story building will offer studio, one- and two-bedroom units that will be furnished with Italian cabinetry, quartz countertops, tile backsplashes, walk-in closets and various pieces of smart-home technology. Amenities will include a pool, fitness center, coworking space, golf simulator, outdoor theater and a game room with a wet bar. ECCO will also have about 35,000 square feet of retail space. Baker Barrios is the project architect, and March Associates Construction is the general contractor. JLL arranged $63.2 million in construction financing from Bank OZK and a $20.1 million mezzanine placement from PGIM for the project, completion of which is slated for late 2027.

February 12, 2026

Affordable Housing Development Multifamily Northeast Pennsylvania

Beacon Communities Begins Affordable Housing Redevelopment Project in Downtown Pittsburgh

by Taylor Williams February 12, 2026

PITTSBURGH — Nonprofit owner-operator Beacon Communities has begun an affordable housing redevelopment project in downtown Pittsburgh. The project involves The May Building, 12-story structure at 111 Fifth Ave. that was originally completed in 1908 for the May Drug Co. The building was converted from office to an 87-unit apartment complex with studio and one-bedroom units in 1974. This latest redevelopment will convert 66 of those residences into affordable housing and also upgrade the building’s exterior elements, mechanical/utility systems and common spaces.

February 12, 2026

Colorado Development Multifamily Western

Livmark Communities, Kensington Development Commence Residential Phase of Link 56 in Denver

by Amy Works February 12, 2026

DENVER — Livmark Communities and Kensington Development have started the construction of Stellar at Link 56, the first residential phase of Link 56, a master-planned, mixed-use project in Denver’s northeast corridor. Situated within a 15 to 20-minute walk from the 61st & Peña light rail station, Stellar at Link 56 will feature 215 apartments spread across 13 buildings. The unit mix will include two- and three-bedroom garden-style, walk-up apartments and two-story carriage house-style townhomes. Community amenities will include a resort-style pool and hot tub, a fitness room, yoga studio, sauna, golf simulator, outdoor grilling areas, fire pits and a dog spa. At full build-out, Link 56 will feature 1,900 residential units, 250,000 square feet of commercial space and 27 acres of parks and open space.

February 12, 2026

Development Midwest Minnesota Retail

Kraus-Anderson Completes $24.7M NorthStar Ford Arena in Hermantown, Minnesota

by Kristin Harlow February 12, 2026

HERMANTOWN, MINN. — Kraus-Anderson has completed construction of the $24.7 million NorthStar Ford Arena in Hermantown within northeast Minnesota. Designed by DSGW Architecture, the project encompasses a 77,595-square-foot, two-story ice arena addition. The arena includes team spaces, an ice operations center and a 360-degree viewing mezzanine with walking track that is free to use and open to the public. There are nearly 700 individual spectator seats accessible through a south-oriented lobby. For over three decades, the Hermantown Arena has provided a home for youth hockey leagues and teams. It has also served as a gathering place for community members, including school district physical education classes, adult hockey leagues, broomball, fitness organizations and hockey camps. Recognizing the need for expansion, local voters in 2022 approved a city sales tax increase to fund the transformation of the existing arena into the NorthStar Ford Arena.

February 12, 2026

Development Hospitality Loans Mixed-Use Multifamily Southeast Tennessee Walker & Dunlop

Walker & Dunlop Arranges $371.5M in Development Financing for The Nashville Edition Hotel & Residences

by John Nelson February 11, 2026

NASHVILLE, TENN. — Walker & Dunlop Inc. has arranged $371.5 million in development financing for The Nashville Edition Hotel & Residences, a luxury mixed-use property that will be located in the heart of Nashville’s Gulch neighborhood. Positioned at 11th Avenue and Grundy Street, The Nashville Edition will comprise a 28-story tower with 261 hotel rooms and 84 for-sale residences. The project will include chef-led restaurant and bar concepts, multiple floors of amenity spaces and fully separate hotel and residential lobbies and gyms. Shared amenity offerings will include a spa, golf simulator, 8,300 square feet of combined ballroom and pre-function space, conference rooms and a rooftop pool and bar. Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Ari Hirt and Michael Ianno of Walker & Dunlop’s capital markets team collaborated with Jay Morrow, Carter Gradwell and Jack Hughes of the firm’s hospitality team to arrange the financing through Madison Realty Capital and KSL Capital Partners. The borrower was Tidal Real Estate Partners, which is developing The Nashville Edition Hotel & Residences in collaboration with Left Lane Development and Marriott International. Tidal has obtained a total of $400 million in construction financing for the development.

February 11, 2026

Development Multifamily Texas

StreetLights Residential Begins Leasing 134-Unit Apartment Building in Houston

by Taylor Williams February 11, 2026

HOUSTON — Dallas-based developer StreetLights Residential has begun leasing The Langley, a 134-unit apartment building located near Rice University in Houston’s Museum District. The Langley is a 20-story building that houses two- and three-bedroom units that range in size from 2,165 to 3,401 square feet. Residences are furnished with walk-in closets, wine coolers, various smart technology features and service kitchens with secondary refrigerators. Outdoor amenities include a pool, grilling and dining stations, outdoor yoga space and a dog run. Indoors, residents have access to a fitness center, lounge, library, coffee bar, conference room and a mailroom. Monthly rents start at $9,100.

February 11, 2026

Acquisitions Development Mixed-Use New York Northeast

Tavros Acquires Mixed-Use Development Site in Lower Manhattan for $143M

by Taylor Williams February 11, 2026

NEW YORK CITY — Local development and investment firm Tavros has acquired a mixed-use development site at 250 Water St. in Lower Manhattan for $143 million. The site spans a whole city block and is currently entitled for the construction of a 26-story building that will include both market-rate and affordable housing units, as well as commercial, retail and/or community space. Andrew Scandalios, Ethan Stanton and Nicco Lupo of JLL represented the seller, Seaport Entertainment Group (NYSE: SEG), in the transaction. Luppo also worked with JLL’s Christopher Peck to arrange predevelopment financing and an equity investment from Atlas Capital. Tavros has tapped Fogarty Finger as the project architect going forward.

February 11, 2026

Development Multifamily New York Northeast Office

Bushburg Receives $78M in Financing for Manhattan Office-to-Residential Conversion Project

by Taylor Williams February 11, 2026

NEW YORK CITY — Bushburg has received $78 million in financing for an office-to-residential conversion project in Manhattan. The locally based development and investment firm will use the proceeds to acquire the 21-story building at 100 William St. in the Financial District and fund predevelopment costs. Bushburg plans to convert the building into an approximately 400-unit complex in which 25 percent of the units will be reserved as affordable housing. Bridge lender Oak Funding and OakNorth Bank co-provided the financing. A tentative completion date was not disclosed.

February 11, 2026

Affordable Housing Development Multifamily New York Northeast

PGM, Brisa Top Out 92-Unit Affordable Housing Project in Queens

by Taylor Williams February 11, 2026

NEW YORK CITY — A partnership between PGM Affordable and Brisa Builders Development has topped out a 92-unit affordable housing project in the Far Rockaway area of Queens. The nine-story building at 19-19 Cornaga Ave. will offer studio, one- and two-bedroom units that will range in size from 331 to 652 square feet, with 60 units to be set aside as supportive housing. Amenities will include a fitness center, computer room, resident lounge, children’s play area, social services office and a multi-purpose space for community programs, classes and recreational activities. Completion is slated for the end of the year.

February 11, 2026

Arizona Development Industrial Western

CapRock Partners Completes 3.4 MSF CapRock West 202 Logistics Project in Phoenix

by Amy Works February 11, 2026

PHOENIX — CapRock Partners has completed CapRock West 202 Logistics, a 3.4 million-square-foot industrial warehouse complex in central Phoenix. The final phase of the infill development features 825,000 square feet of Class A space spread across three buildings on 43 acres in the Southwest Phoenix submarket. Located at 675 N. 55th Ave, Phase 2 includes Building F (301,771 square feet), Building G (295,586 square feet) and Building H (227,107 square feet). The facilities feature clear heights ranging from 32 feet to 36 feet and a combined 139 dock-high doors. The project completion coincides with CapRock securing a 1.1 million-square-foot lease for Building C, the largest building within the project, to an undisclosed corporate tenant. As part of Phase 1, Building C is a cross-dock facility with a clear height of 40 feet, 159 dock-high doors, four drive-in ramp doors, 500 auto parking stalls and 279 trailer parking stalls. Currently 85 percent occupied, Phase 1 features five buildings totaling 2.5 million square feet across 140 acres. Payson MacWilliam, Don MacWilliam, Chris Reese and Casey Koziol of Colliers represented CapRock in the Building C lease transaction and are handling all leasing efforts for CapRock West 202 Logistics.

February 11, 2026

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