NORTH RICHLAND HILLS, TEXAS — Merlin Entertainments, an operator based in the United Kingdom, has opened a theme park in North Richland Hills, a suburb of Fort Worth, that is dedicated to children’s character Peppa Pig. The site formerly housed a Mountasia Family Fun Center, and the new park features multiple rides, interactive attractions, themed playscapes and shows. Merlin Entertainments, which also operates facilities for concepts including Legoland and Sea Life Aquariums, has a licensing agreement with toymaker Hasbro, which owns the intellectual property rights to Peppa Pig and associated characters. Merlin Entertainments announced the concept in spring 2023.
HOUSTON — CDC Houston, a subsidiary of Coventry Development Corp., has begun the renovation of the 128-room Residence Inn Houston City Place hotel. Built on 3.3 acres in 2015, the hotel is located within the 2,000-acre City Place master-planned community on the city’s north side. Suites feature full kitchens and separate living, working and sleeping areas. Amenities include an event space, a sport court, outdoor pool, onsite laundry facilities and a convenience store. Arkansas-based Julian Builders is leading design and construction of the project, which is expected to be complete in the second quarter.
NEW YORK CITY — Merchants Capital has funded $316 million in financing for the second phase of Alafia, a project in the East New York area of Brooklyn that will add 634 affordable and supportive housing units to the local supply. The borrower is a partnership between RiseBoro Community Partnership Inc., L+M Development Partners and Apex Building Group. The financing package, which includes both construction and permanent debt as well as equity, comprises: Phase II of Alafia will consist of two 14-story residential buildings that will house studio, one-, two- and three-bedroom apartments that will be restricted for households earning between 40 and 70 percent of the area median income. A portion of those residences will be specifically reserved for individuals who were either formerly incarcerated or homeless. Amenities will include a fitness center, children’s playroom, community rooms and outdoor courtyards. Phase II will also feature 22,000 square feet of community and retail space. Construction began in December and is expected to be complete in summer 2027.
BROCKTON, MASS. — MassHousing has provided $29.7 million in financing for the construction of a 94-unit affordable housing project in Brockton, a southern suburb of Boston. The borrower, nonprofit owner-operator NeighborWorks Housing Solutions, is redeveloping a former industrial site at 1200 Monticello St. into a five-story building with 31 one-bedroom and 63 two-bedroom units. Of the 94 units, 14 will be restricted to households earning up to 30 percent of the area median income (AMI); 65 apartments will be earmarked for renters earning 60 percent or less of AMI; and 15 residences will be restricted to households earning 80 percent or less of AMI. Amenities will include a fitness center and a community room, and the building will also house 1,473 square feet of commercial space. Utile Inc. and NEI General Contracting are handling design and construction of the project, respectively. Completion is slated for fall 2026.
GREENVILLE, S.C. — Flournoy Development Group has broken ground on District South, a 365-unit apartment development located on a 21-acre site in Greenville. The property will include five four-story apartment buildings, 12 townhome buildings, three carriage home buildings and 13 retail spaces. Amenities will include a grab-and-go market, lounge, fitness and wellness center, resort-style swimming pool with a courtyard, outdoor entertainment areas, dog park and an indoor pet spa. The project team for District South includes architect Dynamik Design, general contractor McShane Construction and civil engineer Gray Engineering. Flournoy Properties Group will manage the apartment property. The construction timeline was not released.
CHARLOTTESVILLE, VA. — Advantage Capital has closed the financing for the second phase of Kindlewood, a $68 million affordable housing redevelopment and expansion in Charlottesville. Phase II, which broke ground last month, will add 100 new units, half of which are replacement units for existing residents and the rest are new affordable housing units. The second phase will also include a new learning center, community center and the headquarters for Piedmont Housing Alliance, a partner in Kindlewood’s development team. National Housing Trust is also a development partner for Kindlewood. The last tranche of financing was $9.6 million in state Low-Income Housing Tax Credits (LIHTCs) in connection with the Virginia Housing Opportunity Tax Credit (HOTC) program. The development team expects to deliver the second phase in fall 2026.
ROSEVILLE, CALIF. — USA Properties Fund has started construction on The Crawford, an affordable multifamily community in Roseville. Located at Fiddyment Road and Harvey Way, The Crawford will offer 265 one-, two- and three-bedroom apartments, with some available as early as fall 2026. Completion is slated for spring 2027. Community amenities will include a community room, fitness room, swimming pool and dog park. Additionally, residents will have access to LifeSTEPS, a social-services provider that offers numerous services for residents. The Crawford residents must meet income requirements, earning 30 percent to 70 percent of the area median income of Placer County, Calif., about $35,370 to $82,530 per year for a four-year household. The City of Roseville Housing Authority provided eight project-based vouchers, securing apartments for very low-income residents, for the project. Bank of America is the tax credit investor and construction lender, while Citi Community Capital is the permanent lender on the $112 million project. Safehold is the leaseholder of the property.
JACKSONVILLE, FLA. — Merritt Properties has fully leased the second phase of Imeson Landing Business Park, an industrial park in Jacksonville that will span nearly 400,000 square feet upon completion. The first two phases of Imeson Landing house 24 tenants whose spaces range from 3,000 to 30,000 square feet in size. Merritt is planning to soon launch Phase III, which will add 120,000 square feet of new industrial space to the park along Zoo Parkway.
FORT MYERS, FLA. — Baltimore-based Continental Realty Corp. has sold a 2.2-acre outparcel at the Shoppes at Pelican Preserve, a 79,970-square-foot shopping center located at 10580 Colonial Blvd. in Fort Myers that is anchored by Winn-Dixie. The buyer, Barclay Group, purchased the land for $2.2 million. The firm plans to develop a 42,000-square-foot freestanding building on the site that will be fully occupied by EoS Fitness. Barclay Group expects to deliver the new property by 2026. Blake Dickinson of Continental Realty Corp., as well as Bob Pekol and Jessica McEvoy of LQ Commercial Fort Myers, represented the seller in the land deal. Tyler McRae of SRS Real Estate Partners represented the buyer. EoS Fitness currently operates 13 gyms in Florida. Barclay Group has delivered 30 sites for the fitness concept across six states.
CELINA, TEXAS — The Home Depot (NYSE: HD) will open a new, 105,000-square-foot store in the North Texas city of Celina. The address was not disclosed, but local news outlet WFAA reports that the store will be located at the northwest corner of Ownsby Parkway and Preston Road, across from a future Lowe’s Home Improvement store and next to a planned Costco. The Atlanta-based home improvement retailer expects to obtain a certificate of occupancy by the end of July 2026 and to commence operations shortly thereafter.