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DevelopmentMultifamilyNorth CarolinaSoutheast

Capital Square Opens 20-Story Maeve Apartment Tower in Raleigh

by John Nelson

RALEIGH, N.C. — Capital Square has opened Maeve, a 20-story multifamily tower located at 319 W. Lenoir St. in Raleigh’s Warehouse District. The high-rise includes 297 apartments and approximately 10,000 square feet of street-level retail space. Maeve offers studio, one-, two- and three-bedroom apartments, as well as a double-height lobby and 30,000 square feet of amenities, including a resort-style pool and rooftop lounge. Monthly rental rates range from $1,695 to $7,515, according to Apartments.com. Project partners for the tower included architect JDAVIS Architects, general contractor W.M. Jordan Co., landscape designer EDSA, equity partner FrontRange Capital Partners and construction lender First National Bank of Pennsylvania. Greystar is managing Maeve, and York Properties is overseeing the tower’s retail leasing assignment.

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DevelopmentGeorgiaRetailSoutheast

Lincoln Property Co. to Develop 43,700 SF Shopping Center in Alpharetta, Georgia

by John Nelson

ALPHARETTA, GA. — Lincoln Property Co. plans to develop The Shoppes at The Gathering, a new 43,700-square-foot retail center in Alpharetta, a northern suburb of Atlanta. The property will be located within The Gathering-Alpharetta, a new mixed-use development situated within a mile of downtown Alpharetta and Avalon. Site construction has begun and vertical construction is set to begin in the fall. Set for delivery in fall 2026, The Shoppes at The Gathering will include seven buildings ranging in size from 4,225 to 8,400 square feet that can accommodate single or multiple retailers. Franklin Street and Centennial are handling the retail center’s leasing assignment on behalf of Lincoln Property Co.

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Affordable HousingDevelopmentLoansMultifamilySoutheastVirginia

Fairstead Invests $10M for Renovation of Affordable Housing Community in Chesapeake, Virginia

by John Nelson

CHESAPEAKE, VA. — Fairstead has invested nearly $10 million for the renovation of Peaceful Village Apartments, a 65-unit affordable housing community located at 3000 Welcome Road in Chesapeake. Fairstead is partnering with the Chesapeake Redevelopment and Housing Authority, which manages the community, for the renovation through HUD’s Rental Assistance Demonstration (RAD) program. The overhaul will include new energy-efficient appliances, renovated kitchens, new exterior siding and the construction of a new community center. All renovations are expected to be complete by fall 2026. Built in 1995, Peaceful Village offers a mix of three- and four-bedroom townhomes reserved for households earning below $32,000 annually to $63,900 (60 percent of the area median income). Capital partners on the renovation include Berkadia, Freddie Mac, U.S. Bank and Woodforest Bank.

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Build-to-RentDevelopmentMidwestNebraskaSingle-Family Rental

Stark Enterprises Breaks Ground on 244-Unit Build-to-Rent Community in Gretna, Nebraska

by Kristin Harlow

GRETNA, NEB. — Stark Enterprises, in partnership with Stark Living and Arbor Construction, has received construction financing for its latest build-to-rent development, Teal Ridge Village in Gretna near Omaha. Stark Enterprises will now break ground on the project, which will include 244 homes on a 43.7-acre site. Amenities will include a fitness center, clubhouse, pool, dog park, playground, sports simulator and bocce court. The property will be operated by Stark Living, the residential management arm of Stark Enterprises. Stark’s construction arm, Arbor Construction, is slated to complete the project in summer 2027. Stark has now expanded into its ninth state overall and third state within its build-to-rent platform.

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CaliforniaDevelopmentHospitalityWestern

R.D. Olson Construction Completes 194-Room AC Hotel Pasadena in California

by Amy Works

PASADENA, CALIF. — On behalf of Welcome Group Inc., R.D. Olson Construction has completed the development of AC Hotel Pasadena located at 19 S. Madison Ave. in Pasadena. Completed in 21 months, the 100,000-square-foot AC Hotel Pasadena features 194 guest rooms and a bar and cafe serviced by an onsite kitchen. The project also includes 5,000 square feet of leasable space on the first floor along with an event space for planned gatherings. The project team for the $60 million hotel included AXIS, Saiful Bouquet and Wild Muse (formerly known as Design Force).

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Wood-Partners-Hutto
DevelopmentMultifamilyTexas

Partnership Breaks Ground on 336-Unit Multifamily Project Near Austin

by Taylor Williams

HUTTO, TEXAS — A partnership between Atlanta-based developer Wood Partners and ParkProperty Capital (PPC) has broken ground on a 336-unit multifamily project in Hutto, approximately 30 miles north of Austin. Located off of Ed Schmidt Boulevard, the community will comprise 10 three-story buildings. Amenities will include a fitness center, a business lounge, private offices, clubroom with a coffee station, pool and a fenced dog park. Additionally, in collaboration with City of Hutto officials, the development will feature two pickleball courts, parkland with a walking trail and an 18-hole disc golf course that will also be available for public use. Completion is slated for the third quarter of 2026.

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DevelopmentIndustrialTexas

Pearlmark, Falcon Commercial to Develop 321,193 SF Industrial Project in Saginaw, Texas

by Taylor Williams

SAGINAW, TEXAS — A partnership between Chicago-based investment firm Pearlmark and Dallas-based Falcon Commercial Development will develop a 321,193-square-foot industrial project in Saginaw, a northern suburb of Fort Worth. Saginaw Distribution Center will feature 32-foot clear heights, 130-foot truck court depths, speculative office space and an ESFR sprinkler system. Will Mogk of JLL arranged an undisclosed amount of construction financing for the project through First United Bank. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Chloie Mercer of Newmark structured the equity placement on behalf of the partnership, which has tapped NAI Robert Lynn to lease the property. A tentative completion date was not announced.

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DevelopmentHospitalityTexas

TEKMAK Development Opens 87-Room, Marriott-Branded Hotel in Forney, Texas

by Taylor Williams

FORNEY, TEXAS — TEKMAK Development, a locally based, full-service hospitality company, has opened an 87-room, Marriott-branded hotel in the eastern Dallas suburb of Forney. Located at 503 E. U.S. Highway 80, TownePlace Suites Forney is a pet-friendly hotel with suites that feature full kitchens and amenities that include a 24-hour fitness center, outdoor pool and complimentary breakfast. Atlanta-based Peachtree Group will operate the hotel on behalf of TEKMAK Development.

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Affordable HousingDevelopmentMassachusettsMultifamilyNortheast

TCB Breaks Ground on 43-Unit Affordable Housing Project in Truro, Massachusetts

by Taylor Williams

TRURO, MASS. — The Community Builders (TCB) has broken ground on Cloverleaf, a 43-unit affordable housing project in Truro, located on Cape Cod. The majority (39) of residences will be restricted to households earning between 30 and 100 percent of the area median income, and the other four will be rented at market rates. Units will come in one-, two- and three-bedroom formats and will be spread across 10 buildings. TCB is developing Cloverleaf in partnership with Community Housing Resource Inc. and the Town of Truro.

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DevelopmentKansasMidwestOfficeTop Stories

Fiserv Unveils Plans for $175M Fintech Headquarters in Metro Kansas City

by John Nelson

OVERLAND PARK, KAN. — Fiserv Inc. (NYSE: FI), a global technology company specializing in financial services and payments, has unveiled plans for the development of a $175 million fintech headquarters in the Kansas City suburb of Overland Park. The company will renovate two buildings on the Aspiria corporate campus — formerly the headquarters of telecom company Sprint that is now owned by Occidental Management — which houses 3.9 million square feet of office space across 20 buildings. The new office will join a growing list of innovation centers across the country for Fiserv, including locations in Alpharetta, Ga.; Milwaukee; Omaha, Neb.; Berkeley Heights, N.J.; and New York City. “The greater Kansas City metro area offers a dynamic environment with a growing population of tech talent, making it the ideal location for Fiserv’s next strategic fintech hub,” says Frank Bisignano, chairman and CEO of Fiserv. Situated at 6500 and 6550 Sprint Parkway, Fiserv’s new headquarters will span 427,000 square feet, marking the largest office recruitment in Kansas history, according to the office of Kansas Gov. Laura Kelly. Fiserv picked Overland Park for its central U.S. location, in addition to its proximity to the company’s Midwestern clients and the region’s affordability. The new …

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