Development

Peak Construction to Build 237,788 SF Spec Industrial Building in Bristol, Wisconsin

by Kristin Harlow July 21, 2025

BRISTOL, WIS. — Peak Construction Corp. will construct Building 5A within Bristol Business Park in the Milwaukee suburb of Bristol. Janko Group is the developer. The 237,788-square-foot speculative industrial facility will feature a clear height of 32 feet, 20 docks, two drive-in doors and 303 parking spaces. Completion is slated for the third quarter of 2026. The project team includes Harris Architects Inc. and Manhard Engineering as civil engineer. Peak has served as general contractor for the 225-acre industrial business park’s infrastructure and multiple tenant improvements as well as Building 1 (1 million square feet), Building 2 (314,505 square feet), Building 3 (396,508 square feet), Building 4 (157,043 square feet) and Building 8 (323,970 square feet).

July 21, 2025

Development Loans Multifamily New York Northeast Top Stories

SCALE Lending Provides $305M Construction Loan for Bronx Multifamily Project

by Taylor Williams July 21, 2025

NEW YORK CITY — SCALE Lending, the debt financing arm of New York City-based Slate Property Group, has provided a $305 million construction loan for a new multifamily project in the Mott Haven area of The Bronx. The borrower is locally based development and investment firm The Beitel Group. The unnamed project will comprise two interconnected buildings that will rise 40 and 26 floors and house 755 studio, one- and two-bedroom apartments. Amenities will include an outdoor pool, large outdoor terrace, gym with sauna and steam room, pickleball court, golf simulator, coworking area, party room and children’s play room, as well as 11,500 square feet of retail space. Beitel Group bought the land at 355 Exterior St., which is situated along the Harlem River, last fall and subsequently demolished all existing structures. Prestige Construction NY is serving as the general contractor for the project, which has been vested into the city’s 421a program for inclusion of an affordable housing component. Landstone Capital Group arranged the construction loan, which carries an 18-month term with two six-month extension options, through SCALE Lending on behalf of Beitel Group. Construction is slated for a June 2026 completion. “The Mott Haven submarket of New York …

July 21, 2025

Colorado Development Multifamily Western

Grovewood Community Development Opens 81-Unit Affordable Housing Project in Aurora, Colorado

by Amy Works July 18, 2025

AURORA, COLO. — Grovewood Community Development has opened Sapling Grove Apartments, a mixed-income affordable housing property located at 10151 E. Jewell Ave. in Aurora. At full build-out, the two-phase Sapling Grove will offer more than 130 apartments. The 86,553-square-foot first phase features 81 one-, two- and three-bedroom floor plans with energy-efficient appliances, air conditioning, in-unit washers/dryers, walk-in closets and paid utilities. Community amenities include a fitness center, outdoor community gathering spaces with a large, covered picnic area, a playground, public art installations, a furnished rooftop patio, walking trails and an open space with native landscaping. Additionally, the community has a dedicated public space that will provide the greater community access to resources for health and wellness through an onsite Community Resource Center. The second phase will include 50 seniors housing units. Project funding was provided by 22 funding sources, including the City of Aurora, Arapahoe County, the Colorado Division of Housing, the Colorado Housing and Finance Authority, Impact Development Fund, Grow America, Sugar Creek Capital and the Aurora Housing Authority. A significant grant from the Colorado Health Foundation helped fund the property’s outdoor recreation spaces and onsite wellness initiatives.

July 18, 2025

Arizona Development Industrial Self-Storage Western

Garrett Development, Willmeng Break Ground on Self-Storage Facility in Peoria, Arizona

by Amy Works July 18, 2025

PEORIA, ARIZ. — Garrett Development Corp. (GDC), with Willmeng Construction as general contractor, has broken ground on a 110,136-square-foot self-storage facility at 24027 N. Lake Pleasant Parkway in Peoria. Designed by RKAA Architects, the facility will feature 1,129 square feet of office space, 53,939 square feet of storage on the first floor and 55,068 square feet of storage on the basement level. Construction is slated for completion in June 2026, with the facility scheduled to open by third-quarter 2026.

July 18, 2025

Development Office Texas

Fortis Property Group Begins Renovation of 55-Story Office Building in Downtown Dallas

by Taylor Williams July 18, 2025

DALLAS — New York-based Fortis Property Group has begun the multimillion-dollar renovation of a 55-story office building in downtown Dallas. Dallas Arts Tower, formerly known as Chase Tower, is located at 2200 Ross Ave. and spans 1.2 million square feet. Renovations will include a transformation of the main lobby and second-floor mezzanine lounge area with new flooring, lighting and furniture, as well as upgraded elevators. A new, all-day café with outdoor seating will be added in the northwest corner of the lobby, and the project team will also introduce a new LED lighting system and valet parking services. Fortis has tapped Stream Realty Partners to lease the property.

July 18, 2025

Development Multifamily New York Northeast

RXR, Korman Begin Leasing 307-Unit Apartment Building in White Plains, New York

by Taylor Williams July 18, 2025

WHITE PLAINS, N.Y. — A partnership between New York City-based owner-operator RXR and Korman Communities has begun leasing 5 Cottage, a 307-unit apartment building in White Plains. The building represents the second phase of a larger development known as AVE Hamilton Green that also features 515 underground parking spaces, 55,000 square feet of open space and 26,000 square feet of commercial space. Units are available in studio to three-bedroom floor plans, as well as in penthouses and live/work loft apartments. Specific residential amenities include indoor gaming areas, coworking spaces, a speakeasy bar, golf simulator, children’s playroom, private chef’s dining room, indoor pool and outdoor grilling and dining stations. RXR and Korman have also leased 85 percent of the 170 units at the first building within AVE Hamilton Green, 25 Cottage. Rents start at $2,366 per month for a studio apartment.

July 18, 2025

Development Multifamily New Jersey Northeast

Kushner Breaks Ground on 280-Unit Multifamily Project in Livingston, New Jersey

by Taylor Williams July 18, 2025

LIVINGSTON, N.J. — New York City-based Kushner has broken ground on Livana Livingston, a 280-unit multifamily project in Northern New Jersey. Designed by Lessard Architecture, Livana Livingston will feature two buildings, one of which has been designed for renters age 55 and above, that will be developed on the adjacent sites of the former Westminster Hotel and Somerset Regal Bank. Units will come in one- and two-bedroom formats, and both unit types will offer floor plans that include dens. Amenities will include a fitness center, sauna and steam rooms, coworking space, a clubroom, private dining room, game room, rooftop terrace, pickleball courts, pet spa and a community garden lawn. Completion is slated for 2027.

July 18, 2025

Affordable Housing Development Massachusetts Multifamily Northeast Seniors Housing

Beacon, Harborlight Complete Adaptive Reuse Project in Beverly, Massachusetts

by Taylor Williams July 18, 2025

BEVERLY, MASS. — A partnership between two nonprofit owner-operators, Beacon Communities ad Harborlight Homes, has completed a multifamily adaptive reuse project in Beverly, a northeastern suburb of Boston. Beverly Village for Living & The Arts is a redevelopment of the former Briscoe School, which was originally built in 1923 and closed in 2018, into an affordable seniors housing complex. Of the complex’s 91 units, 85 are subject to income restrictions, while the other six units will be rented as live-work studios at market rates. The conversion involved preserving historic elements of the building, such as the windows and façade, while also installing sustainable utility systems.

July 18, 2025

Affordable Housing Development Illinois Midwest Multifamily

Skender Breaks Ground on Chicago’s First Native American-Focused Affordable Housing Project

by Kristin Harlow July 18, 2025

CHICAGO — Skender has broken ground on Jigzibik, a seven-story development that marks Chicago’s first affordable housing project centered on serving Native American communities. Located at 2907 W. Irving Park Road in the Irving Park neighborhood, the 45-unit building will provide Native-inclusive affordable housing, dedicated nonprofit space and a rooftop community gathering area. Jigzibik will offer units for those earning between 15 and 60 percent of the area median income. The development was conceived by Visionary Ventures, a Native-led nonprofit, and co-led by Full Circle Communities, with Canopy Architecture + Design as architect. The project’s name is a Potawatomi word meaning “at the river’s edge.” The building was titled by the project’s Native American Advisory Council and pays homage to the Great Lakes Indigenous nations. A custom masonry façade is accented by a flowing river motif rendered in white and blue brick. Completion is slated for the second half of 2026.

July 18, 2025

Development Industrial Midwest Minnesota

Standard, Endeavor to Build 174,288 SF Cobalt Business Center in Suburban Minneapolis

by Kristin Harlow July 18, 2025

MENDOTA HEIGHTS, MINN. — Standard Real Estate Investments LP and Endeavor Development have formed a joint venture to develop Cobalt Business Center in the Minneapolis suburb of Mendota Heights. The 174,288-square-foot industrial building is slated for completion in the second quarter of 2026. Endeavor received approval from the city last month and plans to begin demolition of the existing building, which was formerly occupied by Le Cordon Bleu College of Culinary Arts. The project, situated in the Minneapolis Airport submarket, will feature a clear height of 32 feet, 15 dock positions, LED light fixtures and 4,000 amps of power.

July 18, 2025

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