Development

Core Spaces Completes 648-Bed Student Housing Project Near University of Arizona

by Amy Works May 23, 2025

TUCSON, ARIZ. — Core Spaces has completed Hub Tucson First, a 648-bed student housing development serving students attending the University of Arizona in Tucson. The 273,627-square-foot community offers 161 fully furnished units in studio, two-, three-, four-, five- and six-bedroom configurations. Shared amenities include a rooftop deck with a pool, spa, hot tub, cabanas and an outdoor lounge and grill area; state-of-the-art fitness center; wellness spa with a dry sauna and yoga room; clubroom with lounge space; executive business area with printers; group and private study rooms; and a dog run. The development was built in partnership with Findorff and Antunovich Associates.

May 23, 2025

Affordable Housing Development Multifamily Oregon Western

Annex Group Opens 174-Unit Affordable Housing Community in Corvallis, Oregon

by Amy Works May 23, 2025

CORVALLIS, ORE. — The Annex Group has opened Union at Pacific Highway, an affordable housing property in Corvallis. Construction on the $56 million community began in early 2023, with the property — managed by Avenue5 Residential — now 99 percent leased. Union at Pacific Highway features 174 one-, two- and three-bedroom apartments for individuals and households earning up to 60 percent of the area median income. Situated on more than 7 acres, the property offers a community center, fitness center, playground, community gardens, a dog park, dog wash, business center, activity rooms and a picnic area. Partners on the project include Oregon Housing and Community Services, the City of Corvallis, Linn-Benton Housing Authority, Structure Development Advisors as the LIHTC consultant, KTGY as architect and DEVCO Engineering as civil engineer. Additionally, Piper Sandler placed the tax-exempt bonds and NDC provided more than $19 million in tax credit equity.

May 23, 2025

Affordable Housing Development Loans Multifamily Southeast Virginia

Partnership Receives $120M for Redevelopment of Samuel Madden Homes in Old Town Alexandria, Virginia

by John Nelson May 23, 2025

ALEXANDRIA, VA. — A public-private partnership between Fairstead, Alexandria Redevelopment and Housing Authority (ARHA) and The Communities Group has received $120 million in financing for the ground-up redevelopment of Old Town Alexandria’s historic Samuel Madden public housing complex. The Samuel Madden site will be redeveloped into a six-story, 295,000-square-foot mixed-income community. The property’s affordable component will apply to all households earning between 30 and 80 percent of the area median income (AMI). Originally constructed in 1945, the Samuel Madden community will be redeveloped to feature 207 units, ranging from one- to four-bedroom floorplans. Community amenities will include a studio for podcast recording, game room with free internet access, 7,500 square feet of open space, interior courtyard and an underground parking garage. Local nonprofit organization ALIVE! will also operate a 500-square-foot food hub on the ground-floor to provide residents access to fresh food and various resources. Additionally, through a partnership with Virginia Center for Housing Research at Virginia Tech, green design elements will be incorporated throughout the development to reduce energy and water consumption. Financing sources for the development include Boston Financial, Freddie Mac, Virginia Housing, Sterling Bank, the City of Alexandria, the U.S. Department of Housing and Urban Development (HUD) …

May 23, 2025

Development Florida Multifamily Southeast

Collier Cos. Begins Leasing 300-Unit Multifamily Development in Palmetto, Florida

by John Nelson May 23, 2025

PALMETTO, FLA. — The Collier Cos. has begun leasing Stafford at Artisan Lakes, a 300-unit multifamily development located in the Sarasota suburb of Palmetto. The gated community offers one-, two- and three-bedroom floorplans, ranging from 705 square feet to 1,326 square feet in size, according to Apartments.com. Monthly rental rates for the Stafford at Artisan Lakes begin at $1,599 for a one-bedroom apartment. Amenities include a resort-style pool, fitness center, outdoor yoga lawn, game room, pickleball court and pet spa, as well as rental garages and electric vehicle charging stations. Select apartments also offer lake views and private backyards.

May 23, 2025

Development Florida Multifamily Southeast

Madison Communities Delivers 276-Unit Apartment Community in Metro Jacksonville

by John Nelson May 23, 2025

ST. JOHNS, FLA. — Madison Communities has opened Madison Fountains, a 276-unit apartment community located in the Jacksonville suburb of St. Johns. BenCo, the project’s general contractor, is an affiliate of Madison Capital Group Holdings. The development features studios, one-, two- and three-bedroom floorplans, ranging from 708 square feet to 1,363 square feet in size, according to Apartments.com. Monthly rental rates for studio apartments begin at $1,378. Amenities at the property include a clubhouse-integrated fitness center, resort-style swimming pool with grilling stations and an onsite dog park and grooming station, as well as proximity to the Gourd Island Conservation Area, a 3.7 dog-friendly trail system. Additionally, the community is within walking distance to Jacksonville’s St. Johns Town Center, a super-regional open-air mall that features more than 175 stores.

May 23, 2025

Development Georgia Leasing Activity Retail Southeast

Lalani Ventures, Ravine to Open 181,000 SF Music Venue at Underground Atlanta

by John Nelson May 23, 2025

ATLANTA — Atlanta-based Lalani Ventures, in partnership with Ravine, will open a 181,000-square-foot live music and performance venue at Underground Atlanta, a shopping and entertainment district situated in the Five Points neighborhood of south downtown Atlanta. Following the closure of its former location in 2021, Ravine’s new location, Ravine at Underground, will feature two stages with covered indoor and outdoor event space. One stage will accommodate 6,000 guests, while the other stage will accommodate 2,500 patrons. Ravine at Underground will join additional entertainment venues at Underground Atlanta, including The Masquerade, a four-hall concert venue; The Frisky Whisker, a sound gallery and art space that includes a cat research and therapy center; and a 30,000-square-foot event hall.

May 23, 2025

Affordable Housing Development Michigan Midwest Multifamily

Hope Network Opens $40M Affordable Housing Development in Grand Rapids

by Kristin Harlow May 23, 2025

GRAND RAPIDS, MICH. — Hope Network has opened Eastpointe Commons, a $40 million affordable housing development in Grand Rapids. Formerly the Fulton Manor property, the 118-unit community was completely renovated and is now fully leased. The 182,018-square-foot complex features 79 one-bedroom units, 34 two-bedroom units and five three-bedroom apartments. The property is home to a mix of residents, including veterans, seniors and people with disabilities. Hope Network offers social services and case management onsite. Amenities include a children’s room, exercise room, multipurpose room, courtyard and grilling area. The project team included DeStigter Architecture and Pioneer Construction. The building has earned GREEN Energy certification from the Enterprise Green Communities. Financing for the project came from UnitedHealth Group, Cinnaire Corp., Fifth Third Bank, CPC Financial, HUD CPF Community Grant and the City of Grand Rapids MEDC Grant.

May 23, 2025

Development Hospitality New York Northeast

Bradford Allen Completes Renovation of 114-Room Hotel in Riverhead, New York

by Taylor Williams May 23, 2025

RIVERHEAD, N.Y. — Chicago-based investment firm Bradford Allen has completed the renovation of the 114-room Hilton Garden Inn Riverhead hotel on Long Island. Renovations included refreshed guestrooms with new beds, bedding, carpet, bathrooms and furniture, as well as the addition of Peloton bikes to select rooms. The lobby, lounge area and front desk all received new flooring, furniture, accents and lighting, while meeting and event spaces were revamped with new carpet, paint, lighting and audio/visual equipment. The project team also added new public restrooms and improved the lobby bar, restaurant and patio. Bradford Allen acquired the hotel in late 2023 and began renovations thereafter.

May 23, 2025

Arizona Development Mixed-Use Multifamily Restaurant Retail Top Stories Western

Creation, Crescent Break Ground on Heritage Park Mixed-Use Development in Downtown Gilbert, Arizona

by John Nelson May 23, 2025

GILBERT, ARIZ. — A partnership between two developers, Creation and Crescent Communities, has broken ground on the first phase of Heritage Park, a mixed-use development that will occupy a full city block in downtown Gilbert. The project will function as the northern gateway of Heritage District, which at full build-out will revitalize 10 acres in the East Valley of the metropolitan Phoenix area. Phase I of Heritage Park will feature 47,000 square feet of shops and restaurants, the 288-unit NOVEL Heritage Park apartments, a public square with water features and more than 300 surface parking spaces. The Arizona Republic reported that the first phase represents a $200 million capital investment, with the entire mixed-use development carrying a price tag of $500 million. Future phases of Heritage Park will include a 125-room hotel, offices and additional parking. “Bringing Heritage Park from vision to reality is a collaborative effort, driven by our exceptional development and construction teams, supportive town leadership and visionary tenants,” says David Sellers, co-founder of Creation, which has offices in Phoenix and Dallas. “Together, we are committed to creating an iconic gateway into Gilbert’s Heritage District — one that enhances quality of life, celebrates local culture and offers an exceptional …

May 23, 2025

Development Florida Multifamily Southeast

Fairfield Delivers Two Multifamily Developments in Fort Lauderdale Totaling 537 Units

by John Nelson May 22, 2025

FORT LAUDERDALE, FLA. — Fairfield, a multifamily developer and owner based in San Diego, has completed construction of Coasterra Apartments in downtown Fort Lauderdale. The mid-rise community has 242 studio, one-, and two-bedroom apartments. Located at 150 SE 3rd Ave. in the Las Olas district, the community is adjacent to the One Financial Plaza office building. Fairfield also recently completed construction of Treo Apartments at 6500 N. Andrews Ave. in Fort Lauderdale. Treo has 295 studio, one- and two-bedroom units.

May 22, 2025

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