Development

Tishman Speyer Breaks Ground on 339-Unit Affordable Housing Project in The Bronx

by Taylor Williams January 20, 2025

NEW YORK CITY — Tishman Speyer has broken ground on a 339-unit affordable housing residential project in The Bronx. The eight-story building will be located at the former site of the Visitation Church and School in the Kingsbridge neighborhood and will house studio, one-, two- and three-bedroom units. The majority (285) of residences will be reserved for renters earning between 40 and 105 percent of the area median income, and the remaining apartments will provide supportive housing for formerly homeless individuals. Amenities will include two recreation rooms, a fitness center and a rooftop terrace. Completion is slated for 2027.

January 20, 2025

Affordable Housing Development Seniors Housing Southeast Tennessee

Partnership Breaks Ground on 254-Unit Affordable Seniors Housing Community in Nashville

by John Nelson January 20, 2025

NASHVILLE, TENN. — A partnership between The Clear Blue Co., Urban Campus and Core and Born Again Church has broken ground on the Northview Housing Development, a 254-unit affordable housing project for seniors in Nashville. The 266,000-square-foot complex will be located at 876 W. Trinity Lane on Born Again Church’s campus in the city’s Haynes-Trinity neighborhood. Upon completion, which is slated for December 2026, Northview will feature a mix of one- and two-bedroom units reserved for seniors earning 40 percent to 80 percent of the area median income. Amenities will include a fitness center, rooftop deck, walking trails and recreational spaces. The design-build team includes STG Design, Thomas & Hutton and Bacar Constructors, and capital partners include the Urban League’s R.E.D. Academy, Amazon’s Housing Equity Fund, Regions Bank and Fannie Mae. Civic partners include the Tennessee Housing Development Agency and the Metropolitan Development and Housing Agency.

January 20, 2025

Build-to-Rent Development Multifamily Single-Family Rental South Carolina Southeast

Center Park Group to Begin Construction on 192-Unit Build-to-Rent Community in Charleston

by John Nelson January 20, 2025

CHARLESTON, S.C. — Center Park Group, along with development partners The Berry Co. and Batson-Cook Development Co., plans to soon begin construction on Berkshire on Clements Ferry, a 192-unit build-to-rent townhome community in Charleston. Situated with the Point Hope master-planned community, the project will be located on a 40-acre site at 1049 Point Hope Parkway, and the residential portion will be concentrated on 15.5 acres. Each residence will comprise a three-bedroom townhome with approximately 1,200 square feet of living space and a one-car garage. The property will span 36 three-story buildings configured in pods that each hold six townhomes. Amenities will include a resort-style pool and poolside cabana, community playground, hammock stations, a pavilion with grilling stations, dog park, private fenced puppy yards on select units and bike and walking trails throughout the property. Site work on Berkshire on Clements Ferry is underway, and the development team plans to begin vertical construction this quarter and deliver the first units by the end of the year.

January 20, 2025

Development Florida Loans Multifamily Southeast

Northmarq Arranges $43.9M Construction Loan for Gibsonia Gardens Apartments in Lakeland, Florida

by John Nelson January 20, 2025

LAKELAND, FLA. — Northmarq has arranged a $43.9 million construction loan for Gibsonia Gardens, a 276-unit apartment community underway at 6508 US Highway 98 N in Lakeland. Bob Hernandez of Northmarq arranged the three-year loan on behalf of the borrower, a repeat client, through a correspondent lender. The sponsor and direct lender were not disclosed. The apartment community is set for completion in 2026.

January 20, 2025

Development Industrial Texas

Creation to Develop 600,000 SF Industrial Project in North Dallas

by Taylor Williams January 17, 2025

DALLAS — Creation, a developer with offices in Dallas and Phoenix, will build 635 Exchange, a three-building, 600,000-square-foot industrial project in North Dallas. The 36-acre site at the intersection of Interstates 35E and 635 formerly housed a City of Dallas landfill, and the new buildings will feature 32- to 36-foot clear heights. LGE Design Build is handling the architectural and general contracting aspects of the project, with construction scheduled to begin over the summer. Stream Realty Partners has been tapped as the leasing agent.

January 17, 2025

Development Multifamily Southeast Virginia

ZOM Living Completes 491-Unit National Landing Multifamily Complex in Arlington, Virginia

by John Nelson January 17, 2025

ARLINGTON, VA. — ZOM Living has completed construction on Hazel & Azure at National Landing, a 491-unit luxury multifamily complex in Arlington. Balfour Beatty was the general contractor on the project, and bKL Architecture served as the project architect. Situated at 3030 & 3130 S. Potomac Ave., the development comprises two towers — the 15-story Hazel and11-story Azure — as well as 8,900 square feet of ground-floor retail space. Urban Boxing will occupy 4,709 square feet in the Hazel tower, Coffee Republic will occupy 2,006 square feet in Azure and a third tenant will comprise the remaining 2,201 square feet of retail space in the Azure tower. Monthly rental rates at Hazel range from $2,180 to $7,010, and Azure’s rents range from $2,294 to $8,805, according to Apartments.com. Units come in townhome, studio, one-, two- and three-bedroom floor plans that range in size from 516 to 1,852 square feet. Amenities include a rooftop pool, outdoor deck and grilling area, clubroom, fireplace, fitness and wellness spa, yoga room, coworking spaces, a self-serve resident market and a pet spa for dogs. The complex also offers concierge and white glove package delivery services and electric vehicle charging stations.

January 17, 2025

Development District of Columbia Multifamily Southeast

Akridge, National Development Welcome First Residents to 384-Unit Byron Apartment Community in DC

by John Nelson January 17, 2025

WASHINGTON, D.C. — Akridge and National Real Estate Development have begun welcoming residents to The Byron, a 384-unit apartment community in southwest Washington, D.C. The Byron is Phase I of The Stacks, a six-acre mixed-use campus. Upon completion, The Stacks will include 2 million square feet of space, including a hotel, offices, apartments, shops and restaurants. The development team for The Stacks includes Akridge, National Development, Bridge Investment Group, Blue Coastal Capital and institutional funds managed by National Real Estate Advisors. Amenities at The Byron include a 10,000-square-foot Flex gym that features a sauna, recovery room and outdoor workout space, a multi-sport simulator, two rooftop pools, pet spa, serenity garden, TV lounge with an adjoined terrace, chef’s catering kitchen and gathering spaces. Additional conveniences include Capital Bikeshare and bike maintenance stations and an onsite resident market that is scheduled to open this summer, as well as The Passage, a pedestrian-only cobblestone street. According to Apartments.com, the 14-story building offers studios, one-, two- and three-bedroom units ranging in size from 432 to 1,565 square feet. Monthly rents start at approximately $2,230.

January 17, 2025

Acquisitions Arizona Development Hospitality Western

LaPour Partners, Holualoa Cos. to Develop 240-Room Dual-Branded Hotel in North Phoenix

by Amy Works January 17, 2025

PHOENIX — LaPour Partners and Holualoa Cos. have acquired land and secured planned approval for a dual-branded AC Hotel by Marriott and Element by Westin hotel within the 100-acre CityNorth master-planned community in north Phoenix. Groundbreaking for the project is planned for this year, with completion slated for January 2027. The eight-story development will feature 240 guest rooms with 5,700 square feet of flexible indoor-outdoor meeting space. The AC Hotel by Marriott will offer 142 guest rooms, and Element by Westin will offer 98 extended-stay guest rooms. Amenities will include a saline pool, AC lounge, Element Rise, outdoor fireplaces, an outdoor barbecue area, suites with balconies, a sundry market, AC Kitchen, guest laundry and EV chargers. LaPour Partners and Holualoa previously partnered on the Marriott AC Biltmore in 2018, which is located on Camelback Road in the Phoenix Biltmore Corridor. Terms of the land acquisition were not released.

January 17, 2025

Acquisitions Development Industrial Nevada Western

Visionary III, Matterhorn Venture Partners Buy Land for Spec Industrial Development in Las Vegas

by Amy Works January 17, 2025

LAS VEGAS — Visionary III and Matterhorn Venture Partners have acquired a 6.5-acre development site in the North Las Vegas Valley industrial submarket for the development of North & North Business Park, a speculative industrial project in Las Vegas. Located at the southwest corner of North Nellis and North Las Vegas boulevards, North & North Business Park will offer three industrial buildings for lease for sale to individual users. Construction is slated to begin this summer.

January 17, 2025

Development Industrial Midwest Minnesota

Opus Completes 90,000 SF Recycling Facility Expansion for Spectro Alloys Near St. Paul

by Kristin Harlow January 17, 2025

ROSEMOUNT, MINN. — Opus has completed a 90,000-square-foot recycling facility expansion for Spectro Alloys in Rosemount, a southern suburb of St. Paul. Spectro Alloys is a secondary foundry alloy producer in the Midwest. The addition enables the company to expand its product offering into billet from post-consumer scrap aluminum. Equipment will be assembled and calibrated in the facility over the next several months. With first production expected during the second half of 2025, the new facility creates an estimated 50 new jobs and adds nearly 120 million pounds per year of additional recycling capacity. Full production ramp-up is expected in the first quarter of 2026. Opus was the design-builder and architect.

January 17, 2025

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