Monday, July 21, 2025
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DevelopmentGeorgiaIndustrialLeasing ActivitySoutheast

Kamstrup Debuts 150,000 SF Headquarters, Manufacturing Facility in Cumming, Georgia

by John Nelson

CUMMING, GA. — Kamstrup Water Metering LLC, a global supplier of water meter equipment and services, has opened its new regional headquarters and manufacturing facility in Cumming. The 150,000-square-foot facility is located within Forsyth Commerce Center, a 94-acre business park roughly 40 miles northeast of Atlanta. The Danish company, which has employees in over 20 countries, began operating in the United States in 2013. The company supports water utilities with ultrasonic metering solutions, network communications and software applications. Kamstrup considered 13 other Southeastern cities before selecting Cumming. Joey Kline of JLL worked with Kamstrup on site selection and lease negotiations, which includes securing a 15-year lease with landlord McDonald Development.

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Boardwalk-Square-Katy
DevelopmentMultifamilyTexas

Sueba USA Breaks Ground on 353-Unit Multifamily Project in Katy, Texas

by Taylor Williams

KATY, TEXAS — Locally based developer Sueba USA has broken ground on Boardwalk Square, a 353-unit multifamily project that will be located west of Houston in Katy. Units will come in studio, one-, two- and three-bedroom formats and range in size from 496 to 2,088 square feet. Residences will be furnished with stainless steel appliances, granite countertops, custom cabinetry and individual washers and dryers. Amenities will include a pool, fitness center, spa, outdoor lounge, coworking lounge, package lockers and a catering kitchen. Boardwalk Square represents the second phase of a larger Sueba development, the first phase of which totals 319 units and was completed in late 2021 and subsequently sold in spring 2022. The first units are expected to be available for occupancy in fall 2025.

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AlabamaDevelopmentSoutheastStudent Housing

Auburn University Breaks Ground on $63M First-Year Residence Hall

by John Nelson

AUBURN, ALA. — Auburn University has broken ground on a $63 million residence hall project along Haley Concourse on the university’s campus in Alabama. The 371-bed community will house first-year students upon completion, which is scheduled for summer 2026. The 125,651-square-foot development will feature amenities including multipurpose communal spaces and kitchens, group study rooms, laundry facilities on every floor and bike storage. The community will also be home to housing department offices and a storm shelter. The development team for the project, which is targeting LEED certification, includes Niles Bolton Associates and Rabren General Contractors.

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DevelopmentMultifamilySoutheastTennessee

Novare Group, BCDC Begin Leasing 344-Unit Apartment Community in Chattanooga

by John Nelson

CHATTANOOGA, TENN. — A partnership between Novare Group and Batson-Cook Development Co. (BCDC) has begun leasing Populus Waterside, a 344-unit apartment community located along Gunbarrel Road in Chattanooga. First residents are beginning to move into the property, which offers studio, one-, two- and three-bedroom floor plans. Monthly rental rates range from $1,400 to nearly $2,500, according to the property website. Amenities include a game room, coworking micro-offices, fitness center with a yoga room, resort-style pool, sun deck, tanning ledge, a dog park, pet spa and an outdoor fire pit. The design-build team includes architect Dynamik Design, civil engineer MAP Engineers and general contractor Construction Enterprises Inc.

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Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

HTG, AM Affordable Housing Open $44M Tucker Tower Senior Apartments in Miami

by John Nelson

MIAMI — Housing Trust Group (HTG), a leading multifamily developer, and AM Affordable Housing, a nonprofit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning, have opened Tucker Tower. The $44 million affordable housing community for seniors age 62 and older is located in the Perrine neighborhood of southern Miami. Tucker Tower, the eighth joint venture between HTG and AM Affordable Housing, will be reserved for households earning at or below 25, 30 and 60 percent of the area median income (AMI). With rents ranging from $463 to $1,359 per month, these rates are a notable contrast to the average rental prices in Miami-Dade County, which currently stand at $2,451. According to a recent study from the University of Florida, Miami-Dade County has a gap of more than 90,000 affordable and available units for renter households with incomes below 80 percent of AMI. This gap is projected to grow to nearly 116,000 units by 2030 unless affordable units are added. Tucker Tower is an eight-story community offering a mix of one- and two-bedroom units ranging from 601 square feet to 895 square feet. Six units are fully accessible and three units are hearing impaired units. Funding sources …

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DevelopmentGeorgiaMixed-UseSoutheast

Balfour Beatty Completes Adaptive Reuse of Former Coca-Cola Bottling Plant in Atlanta

by John Nelson

ATLANTA — Balfour Beatty has completed construction of 560 Edgewood, the adaptive reuse of a historic Coca-Cola bottling plant in Atlanta. Charlotte-based Asana Partners is the owner of the 60,000-square-foot building, which is situated along the Atlanta BeltLine’s Eastside Trail and adjacent to Krog Street Market, a popular food hall also owned by Asana Partners. Balfour Beatty was the construction manager of the redevelopment, which converted the 1915-built factory into a mixed-use project with a new rooftop amenity, 104-space parking deck, restored windows and a revamped brick façade. Locally based ASD|SKY was the architect for the redevelopment. Asana Partners has tapped Molly Morgan and Allie Spangler of JLL to handle retail leasing at 560 Edgewood. Bennett Gottlieb with Capital Real Estate Group is handling service and office space leasing.

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Affordable HousingDevelopmentIndianaMidwestMultifamilySeniors Housing

Evergreen Real Estate Group Completes 120-Unit Affordable Assisted Living Community in Goshen, Indiana

by Kristin Harlow

GOSHEN, IND. — Evergreen Real Estate Group has completed Green Oaks of Goshen, a 120-unit assisted living community for low-income seniors in Goshen, a city in northern Indiana. Evergreen Construction Co., a division of Evergreen Real Estate Group, served as general contractor on the project, which recently welcomed its first residents and is currently 50 percent leased. Located at 282 Johnson St., the $30 million project replaces a vacant three-acre lot on the city’s north side near an existing Salvation Army building. Bourbonnais, Ill.-based Gardant Management Solutions operates the four-story community. Green Oaks of Goshen offers 49 studio and 71 one-bedroom units, all of which are reserved for seniors age 62 or older with incomes at or below 80 percent of the area median income. Amenities include a community room with kitchen, private dining room, media and theater room, computer room, fitness center, salon, library, community garden and outdoor area. The Indiana Housing and Community Development Authority authorized 4 percent Low-Income Housing Tax Credits (LIHTC) for the project. In addition, the City of Goshen issued tax-exempt bonds that were sold by Piper Sandler, providing debt financing. Affordable Housing Partners also invested in the project, providing LIHTC equity.

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Alexan-West-End-Long-Beach-CA
CaliforniaDevelopmentLoansMultifamilyTop StoriesWestern

R&V Management, TCR Receive $200M in Financing for Alexan West End Apartment Development in Long Beach, California

by Amy Works

LONG BEACH, CALIF. — R&V Management and Trammell Crow Residential (TCR) have obtained $200 million in financing for the development of Alexan West End, a multifamily community in downtown Long Beach, approximately 20 miles south of Los Angeles. The financing package includes a $166 million construction loan from Kennedy Wilson and a $34 million mezzanine loan from an unnamed national life insurance company. Located at 600 W. Broadway, Alexan West End will feature 600 apartments spread across four seven- or eight-story buildings. The community will offer a mix of studios, one-, two- and three-bedroom floor plans, averaging 767 square feet. Initial plans call for first units to be ready for occupancy by May 2026, with final completion planned for March 2027. Community amenities will include multiple club lounges equipped with gourmet kitchens; coffee lounges; an indoor and outdoor fitness center; resort-style pool and spa; sky deck with various entertainment areas; and a pet spa with a grooming station. Alexan West End will be situated on a 5.6-acre site adjacent to the Hilton Long Beach hotel and One World Trade Center. Other nearby attractions include the Los Angeles River, Port of Long Beach, Queensway Bay and Santa Cruz Park. Bill Chiles, …

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DevelopmentFloridaSoutheastStudent Housing

Joint Venture to Break Ground on 1,316-Bed Student Housing Development Near Florida State University

by John Nelson

TALLAHASSEE, FLA. — A joint venture between Core Spaces, Peerless Development and an affiliate of Inland Acquisitions has announced plans for Hub Tallahassee, a student housing development located near Florida State University. The development site is located within a qualified opportunity zone near the northeast corner of the university’s campus. Upon completion, the seven-story community will offer 1,316 beds across 367 units in studio, one-, two-, three-, four-, five- and six-bedroom configurations. Completion is scheduled for fall 2026. Amenities at the property will include a rooftop swimming pool, fitness center, spa, private study rooms and adjacent parking. The project team includes Juneau Construction Co. and Niles Bolton Associates. Ian Bradley of TSB Capital Advisors secured construction financing, and Mark Cosenza and David Neboyskey of Inland worked on behalf of the company’s affiliate in the joint venture transaction.

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DevelopmentLoansMultifamilyNorth CarolinaSoutheast

Thorofare Provides $30M Construction Financing for Multifamily Development in Charlotte

by John Nelson

CHARLOTTE, N.C. — Thorofare Capital has provided a $30 million loan to Grubb Properties for the construction and lease-up of Link NoDa Phase II, a 242-unit multifamily project in Charlotte. Upon completion, the development will feature 146,652 square feet of rentable space within a six-story building. Amenities at the property, independent from those at Phase I of the community, will include a clubhouse, pool, courtyards with fire pits, grilling stations, a 24-hour fitness center, cycle room, yoga studio, pet spa, dog run, conference room, meeting center and coworking space.

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