Development

FCP Provides $47.1M Construction Financing for Mixed-Use Redevelopment Project in Arlington, Virginia

by John Nelson October 14, 2025

ARLINGTON, VA. — FCP has provided $47.1 million in construction financing for a two-tower mixed-use development located at 685 N. Glebe Road in Arlington, a suburb of Washington, D.C. The site was formerly home to a Macy’s department store in the city’s Ballston neighborhood. The borrower, a partnership between Insight Property Group and PGIM Real Estate, is developing two 16-story residential towers called Mira and Ador that will total 553 apartments and sit atop a 40,000-square-foot grocery store. Amenities will include a shared rooftop pool and sundeck and a variety of outdoor amenities, including dog parks and entertainment areas. Resident parking will be underground, with grocery store customers accessing a separate parking deck with a dedicated entrance. Brian Crivella, Bill Gribbin and Yalda Ghamarian of Berkadia arranged the preferred equity investment on behalf of the development team. Michael Zelin, Marshall Scallan and Bindi Shah of Cushman & Wakefield arranged the senior loan through Northwestern Mutual. Bill Collins, Paul Norman and Shaun Weinberg of Cushman & Wakefield arranged the land sale.

October 14, 2025

Build-to-Rent Development Georgia Multifamily Single-Family Rental Southeast

Crescent Communities Welcomes First Residents at 151-Unit Build-to-Rent Property in Lawrenceville, Georgia

by John Nelson October 14, 2025

LAWRENCEVILLE, GA. — Charlotte-based Crescent Communities has welcomed the first residents at HARMON Cedar Run, a 151-unit build-to-rent (BTR) residential community in Lawrenceville. The property represents the first HARMON-branded BTR property in the metro Atlanta area and 13th multifamily project in the market overall for Crescent. HARMON Cedar Run is situated on 38 acres and features three- and four-bedroom townhomes and single-family homes, as well as amenities including a resort-style pool with shaded seating areas, pickleball and basketball courts and green spaces. Monthly rental rates range from $2,550 to $3,245, according to Apartments.com. DRB Group, a Sumitomo Forestry Co. Ltd affiliate company, was the homebuilder of HARMON Cedar Run. Crescent Communities is also an affiliate of Sumitomo Forestry.

October 14, 2025

Development Healthcare Midwest South Dakota

Kraus-Anderson Completes $7.4M Yorkshire Medical Office Building in Brookings, South Dakota

by Kristin Harlow October 14, 2025

BROOKINGS, S.D. — Kraus-Anderson has completed the $7.4 million Yorkshire Medical Office Building for Brookings Health System at 2311 Yorkshire Drive in Brookings, a city in eastern South Dakota. Designed by TSP Inc., the 12,000-square-foot project marks the first phase of the new medical office building and will serve as the future home of the Brookings Health System Eye Clinic and Physical Therapy. The eye clinic features six exam rooms, a retail optical space and a dedicated procedure room. The physical therapy clinic, in collaboration with Avera Physical Therapy, includes a 2,100-square-foot rehabilitation gym, 10 treatment rooms and a HydroWorx therapy pool equipped with an underwater camera for advanced therapy sessions. The project is located 8 feet from the existing building that currently houses the eye clinic. Once the new facility is operational with patients, the old building will be demolished, allowing for the completion of a new parking area. An upcoming phase to be completed in the coming years will be a mirrored extension of the current structure.

October 14, 2025

The-Royalton-at-Mercer-Crossing-Farmers-Branch

Development Multifamily Texas

SWBC Breaks Ground on 500-Unit Multifamily Project in Farmers Branch, Texas

by Taylor Williams October 13, 2025

FARMERS BRANCH, TEXAS — Locally based developer SWBC Real Estate has broken ground on The Royalton at Mercer, a 500-unit multifamily project that will be located in the northern Dallas metro of Farmers Branch. The site is adjacent to a 15-acre private lake, and the project will be developed in two phases that will feature 262 and 238 units, respectively. Residences will come in one- and two-bedroom floor plans and will feature quartz countertops, stainless steel appliances and walk-in closets. Amenities will include a pool, biergarten, outdoor gaming areas, a business lounge, fitness center and walking and biking trails. Cross Architects is designing the project. John R. McAdams Co. is the civil engineer, and Carleton Cos. is the general contractor. Completion of Phase I is slated for late 2027.

October 13, 2025

Development Multifamily Texas

Trademark Begins Leasing 321-Unit Vickery Apartments in Downtown Fort Worth

by Taylor Williams October 13, 2025

FORT WORTH, TEXAS — Trademark Property Co. has begun leasing The Vickery, a 321-unit multifamily project in downtown Fort Worth. Designed by GFF and developed in partnership with SCOA Real Estate Partners, The Vickery consists of 307 apartments, 14 townhomes and a 5,300-square-foot restaurant with a second-story lounge, as well as an amenitized green space. Residential amenities include a pool, rooftop lounge and coworking space. Construction began in February 2024 and topped out in January 2025. Rents start at roughly $1,500 per month for a studio apartment.

October 13, 2025

Development Industrial New Jersey Northeast Self-Storage

Tulfra Real Estate Completes 797-Unit Self-Storage Project in Jersey City

by Taylor Williams October 13, 2025

JERSEY CITY, N.J. — Locally based developer Tulfra Real Estate has completed a 797-unit self-storage project in Jersey City. The six-story, climate-controlled facility at 300 Thomas McGovern Drive spans 115,000 gross square feet and is part of a larger development known as Jersey City Self Storage that will ultimately comprise approximately 261,000 square feet (gross) across more than 2,400 units and two more phases of development. Fulton Bank financed construction of the project, which is a conversion of a former industrial site. JLL arranged the construction debt. Public Storage operates the facility.

October 13, 2025

Affordable Housing Development Multifamily Oregon Western

USA Properties Fund, Northwest Housing Alternatives Open 92-Unit Affordable Housing Property in Metro Portland

by Amy Works October 13, 2025

GRESHAM, ORE. — USA Properties Fund and Northwest Housing Alternatives have completed Terracina Vista, an affordable housing community in Gresham, approximately 10 miles from downtown Portland. Located at 16503 E. Burnside St., Terracina Vista offers 92 one-, two- and three-bedroom apartments for residents earning less than 60 percent of the area median income. Apartments feature energy-efficient appliances and lighting and low-flow faucets, showers and toilets. Community amenities include a community room, computer workstations, indoor bike storage, elevators and laundry facilities. Funding for Terracina Vista was made possible by a private-public partnership with the City of Gresham, Oregon Housing and Community Services and Oregon Metro as subsidy lenders. WNC & Associates is the tax credit investor on the $43 million development. Capital One was the construction lender, with Citi Community Capital as the permanent lender.

October 13, 2025

Development Hospitality Southeast Tennessee Top Stories

Oracle Partners With Nobu Hospitality on $1.2B Nashville Headquarters Campus

by Taylor Williams October 13, 2025

NASHVILLE, TENN. — Oracle Corp. (NYSE: ORCL) has partnered with Nobu Hospitality, a Miami Beach, Fla.-based operator whose concept is rooted in Japanese culture, for a new hotel and restaurant on its new corporate headquarters campus in Nashville. According to local media outlet The Tennessean, Oracle’s Nashville project is valued at roughly $1.2 billion. Designed in collaboration with architecture firm Foster + Partners, the new hotel will feature 120 rooms and suites. Guests will have access to a Nobu restaurant on the lobby level, as well as flexible meeting and event spaces for both intimate gatherings and larger occasions. The hotel will also offer a lobby café, fitness center and spa facilities and a rooftop infinity rooftop pool with curated food-and-beverage service. “We’re excited to bring the Nobu lifestyle to Nashville’s East Bank, a vibrant district ready for growth,” says Trevor Horwell, CEO of Nobu Hospitality. “After much anticipation and requests from our loyal Nobu customers, partnering with Oracle is a perfect match. Nashville’s rich culture and culinary scene make it an ideal home for Nobu, and we can’t wait to create a destination that embodies the city’s spirit and our unique experience.” Oracle, an IT company known for its …

October 13, 2025

Development Michigan Midwest Mixed-Use Office

Bedrock Delivers 12-Story Office Building at $1B Hudson’s Detroit Development

by Kristin Harlow October 10, 2025

DETROIT — Bedrock has completed the 12-story office building at 1240 Woodward Ave. that is part of the Hudson’s Detroit development. Designed by SHoP Architects, the building adds more than 400,000 square feet of Class A office space, retail space, an event venue and a rooftop lounge on the 12th floor that will open in 2026. The project’s 56,000-square-foot event space, dubbed The Department at Hudson’s, opened earlier this year. Bedrock expects to open the 45-story tower component of Hudson’s Detroit in 2027. The 685-foot skyscraper, the second-tallest building in the state, will include dining space, The Detroit EDITION hotel and The Residences at The Detroit EDITION, rounding out the development’s total square footage to 1.5 million square feet. Hudson’s Detroit is the redevelopment of the former J.L. Hudson Department Store, which once stood as the tallest department store in the world, according to Bedrock. The store shuttered in 1983 and was imploded in 1998, according to Crain’s Detroit Business. Construction on Hudson’s Detroit began in December 2017. The development faced design changes, delays and project costs that ballooned to more than $1 billion. “Ten years in the making, Hudson’s Detroit is elevating downtown and creating space for the …

October 10, 2025

Development Indiana Industrial Midwest

Graycor Completes 171,000 SF Amazon Distribution Center in Elkhart, Indiana

by Kristin Harlow October 10, 2025

ELKHART, IND. — Graycor has completed a 171,000-square-foot distribution center for Amazon at 2675 Aeroplex Drive in Elkhart. The facility, dubbed DII5, will be Amazon’s first owner-occupied mass timber delivery station, with the project seeking Zero Carbon Certification from the Living Future. The 39-acre project features mass timber construction as opposed to traditional concrete and structural steel. ZGF was responsible for the building design, and Atlantic AE served as the architect of record throughout construction. More than 200 Amazon and contract employees will work at the facility handling local fulfillment.

October 10, 2025

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