Development

Stark Enterprises Breaks Ground on 244-Unit Build-to-Rent Community in Gretna, Nebraska

by Kristin Harlow April 24, 2025

GRETNA, NEB. — Stark Enterprises, in partnership with Stark Living and Arbor Construction, has received construction financing for its latest build-to-rent development, Teal Ridge Village in Gretna near Omaha. Stark Enterprises will now break ground on the project, which will include 244 homes on a 43.7-acre site. Amenities will include a fitness center, clubhouse, pool, dog park, playground, sports simulator and bocce court. The property will be operated by Stark Living, the residential management arm of Stark Enterprises. Stark’s construction arm, Arbor Construction, is slated to complete the project in summer 2027. Stark has now expanded into its ninth state overall and third state within its build-to-rent platform.

April 24, 2025

California Development Hospitality Western

R.D. Olson Construction Completes 194-Room AC Hotel Pasadena in California

by Amy Works April 24, 2025

PASADENA, CALIF. — On behalf of Welcome Group Inc., R.D. Olson Construction has completed the development of AC Hotel Pasadena located at 19 S. Madison Ave. in Pasadena. Completed in 21 months, the 100,000-square-foot AC Hotel Pasadena features 194 guest rooms and a bar and cafe serviced by an onsite kitchen. The project also includes 5,000 square feet of leasable space on the first floor along with an event space for planned gatherings. The project team for the $60 million hotel included AXIS, Saiful Bouquet and Wild Muse (formerly known as Design Force).

April 24, 2025

Development Multifamily Texas

Partnership Breaks Ground on 336-Unit Multifamily Project Near Austin

by Taylor Williams April 24, 2025

HUTTO, TEXAS — A partnership between Atlanta-based developer Wood Partners and ParkProperty Capital (PPC) has broken ground on a 336-unit multifamily project in Hutto, approximately 30 miles north of Austin. Located off of Ed Schmidt Boulevard, the community will comprise 10 three-story buildings. Amenities will include a fitness center, a business lounge, private offices, clubroom with a coffee station, pool and a fenced dog park. Additionally, in collaboration with City of Hutto officials, the development will feature two pickleball courts, parkland with a walking trail and an 18-hole disc golf course that will also be available for public use. Completion is slated for the third quarter of 2026.

April 24, 2025

Development Industrial Texas

Pearlmark, Falcon Commercial to Develop 321,193 SF Industrial Project in Saginaw, Texas

by Taylor Williams April 24, 2025

SAGINAW, TEXAS — A partnership between Chicago-based investment firm Pearlmark and Dallas-based Falcon Commercial Development will develop a 321,193-square-foot industrial project in Saginaw, a northern suburb of Fort Worth. Saginaw Distribution Center will feature 32-foot clear heights, 130-foot truck court depths, speculative office space and an ESFR sprinkler system. Will Mogk of JLL arranged an undisclosed amount of construction financing for the project through First United Bank. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Chloie Mercer of Newmark structured the equity placement on behalf of the partnership, which has tapped NAI Robert Lynn to lease the property. A tentative completion date was not announced.

April 24, 2025

Development Hospitality Texas

TEKMAK Development Opens 87-Room, Marriott-Branded Hotel in Forney, Texas

by Taylor Williams April 24, 2025

FORNEY, TEXAS — TEKMAK Development, a locally based, full-service hospitality company, has opened an 87-room, Marriott-branded hotel in the eastern Dallas suburb of Forney. Located at 503 E. U.S. Highway 80, TownePlace Suites Forney is a pet-friendly hotel with suites that feature full kitchens and amenities that include a 24-hour fitness center, outdoor pool and complimentary breakfast. Atlanta-based Peachtree Group will operate the hotel on behalf of TEKMAK Development.

April 24, 2025

Affordable Housing Development Massachusetts Multifamily Northeast

TCB Breaks Ground on 43-Unit Affordable Housing Project in Truro, Massachusetts

by Taylor Williams April 24, 2025

TRURO, MASS. — The Community Builders (TCB) has broken ground on Cloverleaf, a 43-unit affordable housing project in Truro, located on Cape Cod. The majority (39) of residences will be restricted to households earning between 30 and 100 percent of the area median income, and the other four will be rented at market rates. Units will come in one-, two- and three-bedroom formats and will be spread across 10 buildings. TCB is developing Cloverleaf in partnership with Community Housing Resource Inc. and the Town of Truro.

April 24, 2025

Development Kansas Midwest Office Top Stories

Fiserv Unveils Plans for $175M Fintech Headquarters in Metro Kansas City

by John Nelson April 24, 2025

OVERLAND PARK, KAN. — Fiserv Inc. (NYSE: FI), a global technology company specializing in financial services and payments, has unveiled plans for the development of a $175 million fintech headquarters in the Kansas City suburb of Overland Park. The company will renovate two buildings on the Aspiria corporate campus — formerly the headquarters of telecom company Sprint that is now owned by Occidental Management — which houses 3.9 million square feet of office space across 20 buildings. The new office will join a growing list of innovation centers across the country for Fiserv, including locations in Alpharetta, Ga.; Milwaukee; Omaha, Neb.; Berkeley Heights, N.J.; and New York City. “The greater Kansas City metro area offers a dynamic environment with a growing population of tech talent, making it the ideal location for Fiserv’s next strategic fintech hub,” says Frank Bisignano, chairman and CEO of Fiserv. Situated at 6500 and 6550 Sprint Parkway, Fiserv’s new headquarters will span 427,000 square feet, marking the largest office recruitment in Kansas history, according to the office of Kansas Gov. Laura Kelly. Fiserv picked Overland Park for its central U.S. location, in addition to its proximity to the company’s Midwestern clients and the region’s affordability. The new …

April 24, 2025

Development Industrial Texas

Saxum Real Estate Breaks Ground on 754,000 SF Industrial Project in El Paso

by Taylor Williams April 23, 2025

EL PASO, TEXAS — Saxum Real Estate, a New Jersey-based investment and development firm, has broken ground on a 754,000-square-foot industrial project in El Paso that represents Phase I of a larger, 1.7 million-square-foot park. The site spans 120 acres along I-10, and the development will be known as Eastwind El Paso. Phase I will comprise a 407,000-square-foot cross-dock building and 347,000-square-foot rear-load building that will have 36-foot clear heights. Building designs and features will be able to support warehouse, distribution and manufacturing uses. Completion of Phase I is slated for the second quarter of next year. Phase II of Eastwind El Paso will add 930,000 square feet of industrial space to the local supply across an unspecified number of buildings.

April 23, 2025

Affordable Housing Development Multifamily Texas

NHP Foundation Opens $45M Supportive Housing Complex in Midtown Houston

by Taylor Williams April 23, 2025

HOUSTON — The NHP Foundation has opened RoseMary’s Place, a $45 million supportive housing complex in Midtown Houston. The four-story, 149-unit building is dedicated to supporting individuals or families who are currently or were recently experiencing homelessness. The NHP Foundation has partnered with nonprofit social services provider Magnificat Houses Inc. to operate RoseMary’s Place, which also offers three multipurpose rooms, two gathering areas, a warming kitchen and a 24-hour staffed entry desk. The City of Houston Housing & Community Development Department provided $18.7 million in financing for the project, while the Harris County Community Services Department contributed $10.2 million. Hudson Housing is the tax credit investor whose purchase of those securities generated $13.6 million in equity financing for the project.

April 23, 2025

Development Multifamily Texas

RangeWater to Develop 240-Unit Apartment Complex in South Austin

by Taylor Williams April 23, 2025

AUSTIN, TEXAS — Atlanta-based owner-operator RangeWater Real Estate will develop a 240-unit apartment complex in South Austin. The site spans 7.9 acres at 11800 Menchaca Road, and the property will house a mix of studio, one- and two-bedroom units that will range in size from 549 to 1,264 square feet. Amenities will include a pool, clubhouse, fitness center, dog park, a speakeasy-inspired garden room, library, flexible office spaces, courtyards and outdoor grilling and dining stations. RangeWater is developing the project in a joint venture with a subsidiary of Dallas-based investment firm The Meridian Group. Construction is set to begin in the coming weeks and to be complete in early 2027.

April 23, 2025

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