Tuesday, June 2, 2026
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Rambler-Northgate-College-Station
DevelopmentMultifamilyStudent HousingTexas

LV Collective, Peninsula Break Ground on 922-Bed Student Housing Project in College Station, Texas

by Taylor Williams

COLLEGE STATION, TEXAS — A joint venture between LV Collective and Peninsula Investments has broken ground on Rambler Northgate, a 922-bed student housing project located near Texas A&M University in College Station. The building will rise 24 stories and offer 342 units in one-, two, three-, four-, five- and six-bedroom configurations with bed-to-bath parity. Shared amenities will include a pool with multiple hot tubs; coworking space with private study rooms; a fitness center with a yoga studio, sauna and cold plunge; and a multi-sport simulator and jumbotron. UMB is providing construction financing for the project. The development team includes Oz Architecture, JE Dunn, Variant Collaborative and Site Design Group. Completion is slated for 2028.

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DevelopmentMixed-UseNorth CarolinaRestaurantRetailSoutheast

Portman to Bring 30,000 SF Food Hall to Savona Mill Redevelopment in Charlotte

by John Nelson

CHARLOTTE, N.C. — Portman has announced plans for Savona Food Works, a 30,000-square-foot food hall that will anchor the company’s Savona Mill adaptive reuse project in Charlotte’s West End district. Veteran food hall operator Robert Montwaid will lead the dining installation, which will offer 25 food stalls, a full-service restaurant and bar, coffee shop, flower market and rooftop bar. Montwaid’s previous ventures include leading Gansevoort Market in New York City’s Meatpacking District and Chattahoochee Food Works in Atlanta’s West Midtown neighborhood. Savona Food Works will be situated in the “Weave building,” which dates back to the 1900s, and will debut in 2027. Other components of the 27-acre mixed-use district include 200,000 square feet of creative office space and 319 apartments, with more multifamily units expected in the next phase of development. Savona Mill is situated adjacent to the Stewart Creek Greenway, a pedestrian trail that connects to the LYNX Light Rail and Blue Line Rail Trail.

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Colbri-Commons-East-Palo-Alto-CA
Affordable HousingCaliforniaDevelopmentMultifamilyWestern

MidPen, EPACANDO Open 136-Unit Affordable Housing Community in East Palo Alto, California

by Amy Works

EAST PALO ALTO, CALIF. — MidPen Housing and the East Palo Alto Community Alliance Neighborhood Organization (EPACANDO) have opened Colibri Commons, a 136-unit affordable housing community at 965 Weeks St. in East Palo Alto. The property’s 136 studio, one-, two-, three- and four-bedroom units are reserved for tenants earning no more than 60 percent of the area median income. Community amenities include a community room, an outdoor play area and free onsite services such as nutrition classes, adult education and after-school programming. MidPen Property Management is the property manager. Financing for Colibri Commons was provided through multiple public and private sources. The project team included David Baker Architects and Blach Construction.

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Data CentersDevelopmentIndustrialLoansMidwestMissouri

Google Unveils $15B Infrastructure Investment in New Florence, Missouri

by Kristin Harlow

NEW FLORENCE, MO. — Google has unveiled plans to invest $15 billion in building infrastructure in New Florence, about 75 miles west of St. Louis. The data center project will create thousands of construction jobs over the build period and hundreds of direct operational roles once the facility is up and running. Google is collaborating with the Construction Laborers and Contractors Joint Training Fund of Eastern Missouri to support the Laborers and Contractors Training Center. The project will enable the center to train more than 2,300 construction laborers, including 1,500 apprentices, over the next two years. In accordance with Missouri’s consumer protections in Senate Bill 4, which Gov. Kehoe signed into law in 2025, Google will continue to pay for 100 percent of the power the data center uses and any new infrastructure costs that are directly driven by its operations. To date, Google has contracted to bring more than one gigawatt of new generation capacity to Missouri, and through its partnership with Ameren, the company is supporting the development of more than 500 megawatts of additional capacity. To further address energy affordability, Google has also announced a $20 million Energy Impact Fund to support programs that drive down monthly …

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Affordable HousingDevelopmentIndianaLoansMidwestMultifamily

Merchants Capital Provides $99M in Debt, Tax Credit Equity for Indiana Workforce Housing Community

by Kristin Harlow

FORT WAYNE, IND. — Merchants Capital has provided more than $99 million in debt and tax credit equity financing for The Elex, a 296-unit workforce housing community now leasing in Fort Wayne. Developed by Biggs Group in partnership with Ancora, Weigand Construction and MSquared, The Elex is part of the Electric Works site, a redeveloped General Electric industrial campus that opened last month. Merchants Capital secured a $34.4 million Freddie Mac non-LIHTC forward permanent loan and provided $9.5 million in federal low-income housing tax credit (LIHTC) equity for The Elex. Merchants Bank provided $55.5 million in construction and equity bridge financing. The Elex offers one-, two- and three-bedroom units, with 207 units rented at market rate and 89 affordable units set aside for residents earning between 30 and 80 percent of the area median income. Affordability is supported via LIHTC equity syndicated by Merchants Capital, state tax credits and tax-increment financing bonds. Named in tribute to The Elex Club, a pioneering women’s organization formed by General Electric’s female employees, The Elex represents Phase II of The Electric Works redevelopment, which is comprised of 18 historical buildings, office space, education and innovation space, retail, residential, hotel and entertainment venues developed across …

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DevelopmentIndianaIndustrialMidwest

Ambrose Breaks Ground on Two-Building Spec Industrial Park in Metro Indianapolis

by Kristin Harlow

GREENWOOD, IND. — Ambrose has broken ground on Indianapolis Logistics Park – South, a 16-acre, two-building industrial park in Greenwood, a suburb directly south of Indianapolis. Building I will offer approximately 105,000 square feet, including a 2,900-square-foot office area. Building II will feature roughly 150,000 square feet, including a 3,200-square-foot office area. Both buildings are being develop on a speculative basis with a clear height of 32 feet. Substantial completion is slated for year-end 2026. The project team includes Compass Commercial Construction, Curran Architecture and Kimley-Horn. JLL is handling leasing and marketing. Pinnacle Bank provided a construction loan.

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Castle-Hotel-Framingham
DevelopmentHospitalityMassachusettsNortheast

Partnership Completes Renovation of 371-Room Hotel in Framingham, Massachusetts

by Taylor Williams

FRAMINGHAM, MASS. — A partnership between two regional hospitality firms, Colwen Hotels and XSS Hotels, has completed the renovation of a 371-room hotel in Framingham, a western suburb of Boston. Originally opened in 1975 as the Sheraton Tara Hotel and known locally as the “Castle Hotel”, the property now houses three Marriott-branded, integrated hospitality operations under the following brands: Renaissance Framingham Hotel & Conference Center, Fairfield Inn & Suites Framingham and TownePlace Suites Framingham. The renovation featured refreshed public areas, technology-forward meeting spaces and three reinvented food-and-beverage concepts, as well as updated furnishings and bathrooms in all rooms and suites.

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XSpace-Group-Houston
DevelopmentIndustrialLoansTexas

IPA Arranges $29M in Construction Financing for Northwest Houston Industrial Project

by Taylor Williams

THE WOODLANDS, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $29 million in construction financing for an industrial project in northwest Houston. The square footage was not disclosed, but the development will have 84 condo-style units. Known as Lifestyle Industrial, the project is designed to incorporate elements of office, retail and entertainment. Adam Mengacci, Travis Headapohl and Matt Polci of IPA arranged the loan on behalf of the developer, X Space Group. The direct lender was also not disclosed.

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Newton-Crossing
DevelopmentMassachusettsMultifamilyNortheast

Garden Communities Nears Completion of 292-Unit Multifamily Project in Metro Boston

by Taylor Williams

NEWTON, MASS. — Garden Communities, a New Jersey-based owner-operator, is nearing completion of Newton Crossing, a 292-unit multifamily project that will be located on the western outskirts of Boston. Newton Crossing will comprise three buildings that will house studio, one-, two- and three-bedroom units. Amenities will include a game room with billiards, conference rooms, flex lounge areas, a fitness center, golf simulator and a rooftop terrace. Marketing and leasing initiatives are now underway, although information on starting rents was not immediately available.

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AcquisitionsDevelopmentHospitalityIndianaMidwest

Keystone Group Buys 378-Room Sheraton Indianapolis City Centre, Plans to Transform into Renaissance Hotel

by Kristin Harlow

INDIANAPOLIS — Keystone Group has purchased the 378-room Sheraton Indianapolis City Centre Hotel located at 31 W. Ohio St. in the heart of downtown Indianapolis. The company plans to transform the property into a Renaissance hotel, Keystone’s first hotel under Marriott International’s Renaissance Hotel’s lifestyle brand. Keystone plans to introduce a multi-phase series of enhancements to the property, including reimagining the rooftop bar and pool concept, major improvements to the 537-space public parking garage, luxury upgrades throughout all interior and exterior spaces, a signature ground-floor restaurant and new lobby coffee shop, a pedestrian skywalk connection with 120 Monument Circle, a comprehensive façade restoration, upgraded ballroom and event spaces and a reinvented arrival and lobby space. Construction is anticipated to span approximately two years. The hotel will remain fully operational throughout the transformation.

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