Development

Partnership Breaks Ground on $200M Water-Themed Mixed-Use Project in McKinney, Texas

by Taylor Williams December 15, 2025

MCKINNEY, TEXAS — A partnership between the City of McKinney, located north of Dallas, and developer Cole Cannon has broken ground on a $200 million water-themed mixed-use project on a 35-acre site at the northeast corner of Stacy Road and State Highway 121. Known as Cannon Beach, the development will comprise a three-acre surf lagoon and resort-style hotel, as well as dining, entertainment and other commercial spaces. The hotel will feature a rooftop pool area that can support private events, as well as lounge areas and cabanas with food service and will connect to the surf lagoon and other water-focused attractions, including cliff diving and a stationary surf wave. Plans also call for a skateboard park, movie theater, bowling alley, health club and indoor recreation facilities. The McKinney Economic Development Corp. and the McKinney Community Development Corp. are also partners on the project, the first phase of which could open as early as mid-2027, and the development team estimates that the project could create as many as 700 new jobs and generate as much as $2 billion in regional economic impact over the next 20 years.

December 15, 2025

Development Multifamily Texas

Portman Underway on 429-Unit Multifamily Project in North Austin

by Taylor Williams December 15, 2025

AUSTIN, TEXAS — Atlanta-based developer Portman is underway on construction of 2545 Brockton, a 429-unit multifamily project that will be situated adjacent to The Domain in North Austin. Developed in partnership with Austin-based Generational Commercial Properties, 2545 Brockton will offer studio, one-, two- and three-bedroom units, 39 of which will have private rooftop patios. Amenities will include a rooftop pool and open green spaces, and the property will also house 6,850 square feet of ground-floor retail space. Construction is expected to be complete in spring 2028.

December 15, 2025

Development Industrial Texas

Provident Industrial Breaks Ground on 292,884 SF Project in Round Rock, Texas

by Taylor Williams December 15, 2025

ROUND ROCK, TEXAS — Provident Industrial, the industrial division of Dallas-based Provident, has broken ground on Eagle 35, a 292,884-square-foot project in Round Rock, a northern suburb of Austin. Eagle 35 will consist of three buildings, two of which will span 75,790 square feet and feature 28-foot clear heights and a shared 185-foot truck court. Building 3 will total 140,994 square feet and feature 32-foot clear heights. Cushman & Wakefield is the leasing agent for Eagle 35, which is expected to be complete in early 2027.

December 15, 2025

Development Multifamily Nevada Seniors Housing Western

Investcor Plans 244-Unit Luxury Senior Living Project Near Las Vegas

by Amy Works December 15, 2025

HENDERSON, NEV. — Investcor has announced plans for a new, 244-unit luxury senior living project in Henderson, a city located roughly 15 miles southeast of Las Vegas. The City of Henderson is currently reviewing the project plans. Upon completion, the community, dubbed Valara, will feature independent living, assisted living and memory care residences within one building. Valara will be situated adjacent to a Whole Foods within The District at Green Valley Ranch, a mixed-use development. Planned amenities at the community include a tearoom, whiskey lounge, multiple restaurants and private dining rooms, an indoor/outdoor bar, gardening programs, educational classes, a movie theater, two fitness centers, a steam room and sauna with an outdoor pool, recreation and activity programming and a pet spa. Development and investment firm Investcor’s current portfolio totals over $1.6 billion in real estate projects across the hospitality, residential, mixed-use and senior living sectors.

December 15, 2025

Development Hospitality Southeast Virginia

Shamin Hotels Breaks Ground on $160M Hilton-Branded Hotel, Conference Center in Richmond

by Abby Cox December 15, 2025

RICHMOND, VA. — Virginia’s largest hotel owner and operator Shamin Hotels has broken ground on Hilton Richmond The Mondelle, a 270-room full-service hotel and conference center located in Chesterfield County. The $160 million project will anchor Springline at District 60, a $1 billion mixed-use development underway at the intersection of Midlothian Turnpike and Chippenham Parkway. The Mondelle will feature more than 30,000 square feet of meeting space, including a 12,600-square-foot grand ballroom. The 11-story hotel will also include a signature restaurant with outdoor dining, a second-floor indoor/outdoor executive meeting center with a biergarten, a rooftop restaurant and cocktail bar, as well as an infinity pool. Truist Bank provided construction and bond financing for the project, which represents the first full-service hotel and conference center to be constructed in the Richmond market since 2009.

December 15, 2025

Alabama Development Southeast Student Housing

Landmark Properties, Manulife to Develop 825-Bed Student Housing Project Near Auburn University

by Abby Cox December 15, 2025

AUBURN, ALA. — A joint venture between Landmark Properties and Manulife Investment Management has acquired a 3.3-acre development site at 141 Wright St. near Auburn University in Alabama. The partnership will soon break ground on The Mark Auburn, an 825-bed student housing community that is expected for completion in fall 2028. The mid-rise development will offer 329 fully furnished units in studio through five-bedroom floorplans. Amenities will include a clubhouse, rooftop swimming pool, Jumbotron, fitness center, sports simulator, study lounge, café, computer labs and grilling areas and fire pits. The community will also offer 853 parking spaces alongside bicycle/scooter storage. The development team for the project includes Peninsula Investments, BKV Group and Landmark Construction.

December 15, 2025

Development Multifamily Southeast Tennessee

Trinitas Ventures, Millstone to Deliver 320-Unit Multifamily Community Near Knoxville, Tennessee

by Abby Cox December 15, 2025

FARRAGUT, TENN. — Indiana-based Trinitas Ventures and Millstone have plans to deliver Laster Farms at Turkey Creek, a 320-unit multifamily community located in the Knoxville suburb of Farragut. Millstone will serve as the general contractor for the project. The $80 million development will comprise 240 apartments and 80 townhomes with one-, two- and three-bedroom floorplans. Amenities at the complex will include a clubhouse, fitness center, resort-style swimming pool, golf simulator, outdoor lounge areas and entertainment lawns. Monthly rental rates are expected to range from $1,800 to $2,800.

December 15, 2025

Build-to-Rent Development Illinois Midwest Single-Family Rental

Peakline, Lincoln Break Ground on 90-Unit Build-to-Rent Community in Metro Chicago

by Kristin Harlow December 15, 2025

NAPERVILLE, ILL. — Peakline Real Estate Funds (PREF) and Lincoln Property Co. have broken ground on The Claire, a 90-unit build-to-rent (BTR) community in the western Chicago suburb of Naperville. The project marks Naperville’s first BTR development, according to the developers. The Claire will offer 34 two-story townhomes and 56 three-story rowhomes with attached two-car garages, private outdoor space and resident amenities. The first residential deliveries are targeted for the second quarter of 2026. FNBO provided construction financing. The project team includes Kinzie Builders as general contractor, BSB as design architect and landscape architect, V3 Cos. as civil engineer and Eleni Designers as interior designer. RPM Living will oversee leasing and property management. The project is the second investment within PREF’s Build To Rent Fund I.

December 15, 2025

Development Loans Mixed-Use New York Northeast Top Stories

Partnership Receives $213M in Financing for Brooklyn Mixed-Use Project

by Taylor Williams December 15, 2025

NEW YORK CITY — A partnership between national development firm Landau Properties, Third Millennium Group and Midtown Equities has received $213 million in financing for a mixed-use project in Brooklyn that represents Phase I of a larger, $500 million development. The predevelopment financing consists of a $113 million senior loan from Northwind Group and $100 million in equity (including $25 million in preferred equity) from Atlas Capital Group. Acting on behalf of the partnership, Raffi Landau of Estreich & Co. arranged the debt component, while Aaron Jungreis of Rosewood Realty Group secured the equity investment. “This financing milestone marks a major step forward for our team and underscores our long-term commitment to delivering design-driven, landmark properties in the country’s most competitive markets,” says Jonathan Landau, founder and CEO of Landau Properties. The development site at 205 Montague St. is located within the borough’s Brooklyn Heights neighborhood. Plans currently call for 46 condo residences, 90 rental residences and 40,000 square feet of retail and restaurant space. Demolitions and preliminary construction work are expected to begin early next year. — Taylor Williams

December 15, 2025

Development Mixed-Use Texas

Trademark to Develop 150-Acre Mixed-Use Project in Celina, Texas

by Taylor Williams December 12, 2025

CELINA, TEXAS — Fort Worth-based owner-operator Trademark will develop Shawnee Trail, a 150-acre mixed-use, master-planned project that will be located at the corner of Preston Road and the Collin County Outer Loop on the northern outskirts of the metroplex. Shawnee Trail will feature a retail component that could span as much as 500,000 square feet and will be anchored by a Walmart Supercenter. Additional uses are still being determined. Trademark will develop Shawnee Trail in partnership with family holding company Glendenning 1887 and the Celina Economic Development Corp.

December 12, 2025

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