Development

Annex Group to Develop $57M Affordable Housing Development in Charlotte

by Abby Cox October 31, 2025

CHARLOTTE, N.C. — The Annex Group has announced plans to develop a $57 million affordable housing community located at 5709 N. Tryon St. in Charlotte. Dubbed Central at Old Concord, the new community will be situated on 3.5 acres and will offer 200 apartments ranging in size from one- to three-bedroom floorplans. The apartments will be reserved for residents earning up to 70 percent of the area median income (AMI). Planned amenities for the five-story building will include a community room, playground, exercise room and a grilling area. Construction for Central at Old Concord is underway, with completion anticipated for summer 2027. Bank of America provided a $39 million construction loan and $23 million in federal equity for the project, while Stifel Public Finance underwrote $28.4 million in bonds provided by Inlivian, the City of Charlotte’s housing authority. The North Carolina Housing Finance Agency (NCHFA) allocated 4 percent tax credits and tax-exempt bonds, while the City of Charlotte provided more than $4 million in Housing Trust Funding (HTF). An additional $22 million in permanent financing was also provided. Partners on the project include Cline Design, McAdams, Shelter Investment Group, ECS Southeast LLP, August Mack Environmental, Capital Consultants, Drucker + Falk, DELCK Group LLC and Impact Housing Indiana Corp. Annex Group is also under construction on Union …

October 31, 2025

Development Multifamily North Carolina Southeast

Dwight Mortgage Trust Provides $42.5M Construction Loan for New Build-to-Rent Community in Asheville

by Abby Cox October 31, 2025

ASHEVILLE, N.C. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $42.5 million construction loan for Old Charlotte Townhomes, a 133-unit build-to-rent (BTR) community in Asheville. Loan proceeds will fund land development, construction costs, community amenities and transaction expenses for the borrower, Golden Hour Collective. Old Charlotte Townhomes will comprise 119 three-bedroom and 14 four-bedroom residences averaging 1,836 square feet in size. Additionally, each unit will feature an attached garage. Community amenities will include a leasing office, clubhouse and a swimming pool, along with scenic views of the Blue Ridge Mountains. The project will be developed on 17 acres within a larger master-planned development that also features for-sale homes and a multifamily component.

October 31, 2025

Acquisitions Development Georgia Mixed-Use Southeast Top Stories

Third & Urban, HighBrook Investors Acquire Corporate Square in Atlanta, Plan $605M Mixed-Use Redevelopment

by Abby Cox October 31, 2025

ATLANTA — A partnership between locally based real estate company Third & Urban and HighBrook Investors has acquired Corporate Square, a 30-acre office park in the Brookhaven area of Atlanta, with plans to redevelop the property into a $605 million mixed-use district. Patterson Real Estate Advisory Group arranged the financing for the acquisition. The project, dubbed Northbend, is moving forward after the partnership received approval to rezone the site as a master-planned development. Third & Urban is currently in the process of securing partnerships for the initial phases of vertical construction. Construction of Northbend, which is situated between Buford Highway and I-85 near the newly opened Children’s Healthcare of Atlanta Arthur M. Blank Hospital, is scheduled to commence in summer 2026. Eight obsolete office buildings will be demolished to allow for new infrastructure and improved road networks. According to the development team, Northbend is expected to generate $8.2 million in annual tax revenue for the city upon completion, while creating more than 400 construction jobs and over 300 permanent jobs. “Northbend will transform an outdated, underutilized office park into a vibrant gathering place for the Brookhaven community and beyond,” says Hank Farmer, partner at Third & Urban. “This redevelopment is a catalyst for …

October 31, 2025

Development Georgia Leasing Activity Retail Southeast

Trader Joe’s Opens New Store at The Avenue Peachtree City in Metro Atlanta

by John Nelson October 30, 2025

PEACHTREE CITY, GA. — Trader Joe’s has opened a new 13,750-square-foot grocery store at The Avenue Peachtree City, an open-air shopping center located in Peachtree City, a southern suburb of Atlanta. The store is located at 258 City Circle and represents the first location in the city for the California-based grocer. JLL manages The Avenue Peachtree City on behalf of the owner, Memphis-based Poag Development Group. Other retailers operating at the property include Arhaus, Beignets & Brew, High Country Outfitters, HOBNOB Neighborhood Tavern, Kendra Scott, Lovesac, Moe’s Southwest Grill, Motivate Studios, Rack Room Shoes, Sephora, Ted’s Montana Grill, Warby Parker and 9292 Korean BBQ.

October 30, 2025

Development Mixed-Use Texas

St. John Properties Breaks Ground on 110,000 SF Mixed-Use Project in Metro Austin

by Taylor Williams October 30, 2025

LEANDER, TEXAS — Baltimore-based developer St. John Properties has broken ground on Phase I of Leander Tech Park, a 110,000-square-foot mixed-use project on the northern outskirts of Austin. The project is being developed on a speculative basis on a 50-acre site and will consist of two industrial/research-and-development (R&D) buildings that will total roughly 90,000 square feet and two inline retail buildings that will total about 20,000 square feet. Completion of the industrial/R&D building is slated for next summer. Delivery of retail space is scheduled for next fall.

October 30, 2025

Development Leasing Activity Retail Texas

TakeOff Adventure Park to Open 60,000 SF Entertainment Venue in Pasadena, Texas

by Taylor Williams October 30, 2025

PASADENA, TEXAS — TakeOff Adventure Park will open a 60,000-square-foot entertainment venue at Fairmont Parkway Shopping Center in Pasadena, an eastern suburb of Houston. The space was formerly occupied by Palace Social, and the venue will feature a ninja course, foam pit, climbing walls, trampolines, arcade and party rooms. David Meyers and Alyx Penland of NewQuest represented the landlord in the lease negotiations. Cesar Miranda of KW Commercial Signature Realty represented the tenant.Construction is underway, and the opening is slated for next spring.

October 30, 2025

Development Mixed-Use New Jersey Northeast

Fisher Development, Olnick Complete Renovation of 1 MSF Mixed-Use Building in Morristown, New Jersey

by Taylor Williams October 30, 2025

MORRISTOWN, N.J. — Fisher Development Associates and the Olnick Organization have completed the renovation of HQ Plaza, a 1 million-square-foot mixed-use building located in the Northern New Jersey community of Morristown.The complex comprises 650,000 square feet of office space, 100,000 square feet of retail, restaurant and entertainment space, a 256-room Hyatt-branded hotel, a 40,000-square-foot gym and a 10-screen AMC movie theater, all situated atop a 3,000-space parking garage. The renovation included a revitalized main concourse linking the office towers and the Hyatt hotel that features lounge areas, dining spaces and adaptable workspaces. The project team, which included international design firm Gensler, also upgraded the tenant amenity lounge and redesigned the 50,000-square-foot outdoor plaza.

October 30, 2025

Affordable Housing Development Iowa Midwest Multifamily

Woda Cooper Opens 40-Unit Affordable Housing Community in Des Moines

by Kristin Harlow October 30, 2025

DES MOINES, IOWA — Woda Cooper Cos. Inc. has opened Alley Landing, a 40-unit affordable housing community constructed on the site of the former Plaza Lanes bowling alley in Des Moines. The city provided a HOME loan and an American Rescue Plan Act loan. The city also granted project-based vouchers for eight Permanent Supportive Housing (PSH) units through the Metropolitan Housing Authority. Veterans are prioritized for the PSH units. Alley Landing features one-, two- and three-bedroom units that are targeted to residents earning up to 60 percent of the area median income. Rents range from $790 to $1,140 per month, depending on income limits and size of unit. The four-story building features amenities such as a multipurpose room, dog park and playground. Families Forward will provide onsite service coordination for the PSH units and direct support in areas such as vocational training, budgeting and financial literacy. The Iowa Finance Authority allocated housing tax credits and provided a second HOME loan. Bank of America is providing a construction loan and an equity investment in exchange for the tax credits. Cedar Rapids Bank & Trust provided the first permanent mortgage. Polk County Housing Trust Fund provided an additional loan. Hooker DeJong Inc. …

October 30, 2025

Development Illinois Mixed-Use Multifamily Top Stories

Chicago City Council Approves $241.5M Office-to-Residential Adaptive Reuse Project at Field Building

by Hayden Spiess October 30, 2025

CHICAGO — The Chicago City Council has approved plans for an adaptive reuse project at 135 S. LaSalle St. in the city’s central business district (CBD). A joint venture between Riverside Investment & Development, AmTrustRE and DL3 Realty is developing the project, which has a total budget of $241.5 million. Financing for the development includes $98 million in city subsidies and historic tax credits. Scheduled to begin construction in spring 2026, the project will convert 624,000 square feet of vacant office space within the 1.4 million-square-foot Field Building to modern residential units and commercial space. Upon completion, the development will feature 430,050 square feet of residential space across 386 units, as well as 92,000 square feet of commercial space. Residences will include a mix of studio, one- and two-bedroom apartments. Commercial space at the property will house food-and-beverage offerings, a small-format grocer, health and fitness club and other amenities. “The Field Building redevelopment will bring much-needed housing and amenities to workers, visitors and a growing residential base in the city. By modernizing this landmark, the project will help reposition the Loop to attract leading corporations and top talent while bolstering Chicago’s reputation as a thriving economic and cultural destination,” says John O’Donnell, …

October 30, 2025

Development Mixed-Use Texas

Realty Capital Receives Approval for Expansion of Mixed-Use Project in Flower Mound, Texas

by Taylor Williams October 29, 2025

FLOWER MOUND, TEXAS — Realty Capital Management has received approval from the Town of Flower Mound, located in the northern-central part of the metroplex, for the expansion of its Lakeside Village mixed-use project. The 21-acre site at the northeast corner of International and Lakeside parkways is the fourth and only remaining undeveloped corner at the intersection where Lakeside Village is located. Plans for the parcel currently call for 43,000 square feet of retail and restaurant space, up to 132 townhomes, a hotel, multiple open entertainment and gathering spaces and a public nature trail. Construction is scheduled to begin late next summer and to last about a year.

October 29, 2025

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