Development

Western Kentucky University Board Approves Gilbane’s $350M Student Campus Housing Development Plan

by Abby Cox May 1, 2026

BOWLING GREEN, KY. — The Western Kentucky University (WKU) Board of Regents has approved the “Elevate WKU” development plan with Gilbane Development Co., a global real estate development firm, to launch the first phase of a multi-year student housing initiative on the WKU campus in Bowling Green. The Kentucky Capital Projects and Bond Oversight Committee also approved the partnership this week. The $350 million initiative is the largest residential investment in WKU’s history, according to Gilbane. Phase I of the development will replace Hugh Poland and Douglas Keen Halls with a new roughly 1,000-bed residential complex featuring suite-style options, community kitchens, collaborative lounges, expanded community spaces, tech-enabled learning environments and enhanced safety and accessibility features. The facility is expected to open in fall 2028. Gilbane is developing the Elevate WKU master plan in a public-private partnership with the university under a 50-year ground lease model. Under the structure, WKU will enter into a ground lease with the Collegiate Housing Foundation (CHF) — a national 501(c)(3) organization — which will serve as owner and borrower. Gilbane and WKU have selected Inwood Management to oversee the day-to-day operations and physical maintenance of the Elevate WKU portfolio alongside the university’s Residence Life team. Future phases will address renovations of existing …

May 1, 2026

Development Loans North Carolina Southeast

JLL Arranges $16M Construction Loan for Charlotte Multifamily Project

by Abby Cox May 1, 2026

CHARLOTTE, N.C. — JLL Capital Markets has arranged a $16 million construction loan for Project J, an 84-unit apartment building in Charlotte’s South End neighborhood. Taylor Allison, Alexis Kaiser, Nick Thornton and Abby Reed of JLL secured the loan through Genesis Capital on behalf of the borrower, Panorama Holdings. Situated at 1722 S. Tryon St., Project J will span six floors and feature 30,457 square feet of rentable space, along with a mix of amenities such as a first-floor lounge, outdoor patio with a kitchen and grill, sixth-floor balcony patio, indoor bike storage on each floor and food locker services. The apartments at Project J are described as “micro units,” as they average 363 square feet in size.

May 1, 2026

Campello-Apartments-Brockton-Massachusetts

Affordable Housing Development Loans Massachusetts Multifamily Northeast

MassHousing Provides $50M in Financing for Affordable Housing Redevelopment in Brockton, Massachusetts

by Taylor Williams May 1, 2026

BROCKTON, MASS. — MassHousing has provided $50 million in financing for an affordable housing redevelopment project in Brockton, a southern suburb of Boston. The financing consists of $28.2 million in permanent debt, $20.7 million in tax credit bridge financing and $1 million in Capital Magnet Fund financing. Santander Bank is financing construction. The property in question is Campello Apartments, a distressed public housing project that was originally built in 1972, and the redevelopment will involve the demolition of a single-story building and two existing Campello high-rise buildings totaling 398 units. The first of the project’s three planned phases will feature a seven-story building with 144 units that will be reserved for households earning between 30 and 60 percent of the area median income. Amenities will include a main lounge on the ground floor, as well as laundry, fitness and social gathering spaces. The Brockton Housing Authority and Cambridge Housing Authority are leading the redevelopment, with BWA Architecture handling design and Shawmut Construction serving as the general contractor. An expected completion date was not announced.

May 1, 2026

Development Hospitality Midwest Missouri

Midas Hospitality Begins $81M Renovation of Historic Edison Brothers Building in St. Louis

by Kristin Harlow May 1, 2026

ST. LOUIS — Midas Hospitality has begun an $81 million revitalization of the historic Edison Brothers Building in downtown St. Louis. The project includes updates to the hotel and public spaces, new street-level amenities and the restoration of the building’s mural. The property is planned to reopen in fall 2027 as the Sheraton St. Louis Downtown. Located at 400 S. 14th St., the nearly 950,000-square-foot building was repurposed more than 20 years ago and has since included 72 condominiums and a 270-room hotel. Midas’ plans call for 284 fully updated hotel rooms, expansive meeting and event space on the building’s top floor and a rooftop outdoor deck serving both guests and event participants. Central to the project is the restoration of the building’s trompe l’oeil mural, originally painted in 1984 by artist Richard Haas. Midas has retained Haas to restore the artwork. Financing partners include Acres Capital, The Bank of Missouri and Peachtree Group. Historic tax credit partners include Historic Equity Inc. and Commerce Bank. The project also received support from the City of St. Louis and the condominium association, Breckenridge 1400 Condominium Association. The design and construction team includes MBG (general contractor), Gray Design Group (architect), Avenir Group (interior …

May 1, 2026

Development Illinois Loans Midwest Retail

Associated Bank Provides $22.6M Loan for Redevelopment of Former Grocery Store in Metro Chicago

by Kristin Harlow May 1, 2026

BUFFALO GROVE, ILL. — Associated Bank has provided a $22.6 million loan to Shorewood Development Group for the acquisition and redevelopment of a vacant, 66,083-square-foot former grocery store at 1160 W. Lake Cook Road in Buffalo Grove. The sale also included an outlot site. Named Chase Plaza, the project will feature a two-tenant, grocery-anchored retail building occupied by Sprouts Farmers Market and Club Studio fitness center. The space had been vacant for years. The project marks the first Club Studio location in the northwest Chicago suburbs. Daniel Barrins of Associated Bank managed the loan arrangements and closing.

May 1, 2026

Development Kansas Midwest Multifamily

AU Construction Breaks Ground on 10 Union Lofts in Eudora, Kansas

by Kristin Harlow May 1, 2026

EUDORA, KAN. — AU Construction has broken ground on 10 Union Lofts, a new 96-unit multifamily development in Eudora, a city in eastern Kansas. Developed by Alcove Development, the property will be situated along the K-10 corridor between Lawrence and metro Kansas City. Plans call for a mix of one-, two- and three-bedroom units. Leasing is anticipated to begin in 2027. Cornerstone Property Management will manage the community. Rosemann & Associates is the architect.

May 1, 2026

Development Mixed-Use Texas

Signorelli Breaks Ground on 328-Acre Mixed-Use Expansion Project in New Caney, Texas

by Taylor Williams April 30, 2026

NEW CANEY, TEXAS — Signorelli Co. has broken ground on a 328-acre mixed-use expansion project at Valley Ranch, the developer’s master-planned community in the northeastern Houston suburb of New Caney. Known as the Azalea District, the project will consist of a residential component of 359 single-family homes across 203 acres and a commercial component that will primarily feature healthcare uses across 125 acres. Additional uses within the commercial component could include retail, restaurant and hospitality in addition to other wellness-themed amenities. The first phase of development will include 156 single-family homes by First America Homes that are scheduled to be delivered this summer.

April 30, 2026

Development Healthcare South Carolina Southeast

Vertical Construction Begins on $1.2B Hospital Development in North Charleston

by John Nelson April 30, 2026

NORTH CHARLESTON, S.C. — The Barton Malow | Edifice joint venture team has begun structural steel work at Roper St. Francis Healthcare’s $1.2 billion Roper Hospital development in North Charleston. The start of steel work signals the 27-acre project’s transition from below-grade construction to its vertical rise. Designed by E4H Environments for Health Architecture and Skidmore, Owings & Merrill, the hospital campus will span 805,000 square feet and will offer 328 inpatient beds, a 47-bay emergency department, 44 critical care beds, 18 operating rooms, a comprehensive imaging department and a 12-bay hemodialysis unit. Completion is targeted for 2029.

April 30, 2026

Affordable Housing Development Florida Seniors Housing Southeast

McDowell Housing, Miami Jewish Health Open $139M Affordable Senior Living Community

by John Nelson April 30, 2026

PEMBROKE PINES, FLA. — McDowell Housing Partners and Miami Jewish Health have completed the development of Douglas Gardens Senior Health and Living, a new affordable seniors housing community located in Pembroke Pines, roughly 25 miles northwest of Miami. Now open, the community totals 410 units reserved for residents age 55 and older earning 30, 60 and 100 percent of the area median income. Amenities at the community include a pond with walking paths, theater room, business center and multiple indoor and outdoor gathering spaces. Development costs for the project totaled $139 million. This marks the third project completed in partnership by McDowell Housing and Miami Jewish Health. ANF Group served as the construction manager. The project team also included engineer and landscape designer Keith & Associates, REPRTWAR Architecture and Design and interior designer Jewel Toned Interiors.

April 30, 2026

Development Industrial Office Texas

Foundry Commercial Underway on Office-to-Industrial Conversion Project in Irving

by Taylor Williams April 30, 2026

IRVING, TEXAS — Foundry Commercial, an Orlando-based development and brokerage firm, is underway on construction of an office-to-industrial conversion project in Irving. The address of the office building was not announced, but the new industrial facility will total approximately 110,000 square feet and will be known as Ridgepoint. Demolitions began in March. An expected completion date was not announced. Ridgepoint will be Foundry’s 10th office-to-industrial conversion overall and its sixth in the Dallas area.

April 30, 2026

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