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Multifamily

Langley Pointe
DevelopmentMultifamilySouth CarolinaSoutheast

Joint Venture Delivers 312-Unit Apartment Community in West Columbia, South Carolina

by Abby Cox

WEST COLUMBIA, S.C. — A joint venture between Fickling & Co., Novare Group and BCDC has delivered Langley Pointe, a 312-unit luxury apartment community located on Sunset Boulevard in West Columbia. Classic Plains served as the general contractor for the project, and SGN+A was the architect. Protective Life Insurance Co. provided construction financing. Situated less than one mile from Lexington Medical Center, Langley Pointe sits on 38 acres and offers one-, two- and three-bedroom floorplans ranging in size from 966 square feet to 1,438 square feet, according to Apartments.com. Rental rates for a one-bedroom apartment begin at $2,490. Amenities at the property include a gated entrance, clubhouse, coworking space, resort-style swimming pool with sunning ledges, electric vehicle charging stations, fitness center with yoga room, outdoor kitchen, entertainment area, pet spa and a fully equipped dog park.

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the-rowley-murfreesboro
Leasing ActivityMultifamilySoutheastTennessee

Hines Launches Leasing at 300-Unit Rowley Apartment Complex in Murfreesboro, Tennessee

by Abby Cox

MURFREESBORO, TENN. — Houston-based Hines has launched leasing for The Rowley, a 300-unit apartment complex located within the Clari Park mixed-use development in Murfreesboro. The development offers a mix of studios, one-, two- and three-bedroom residences ranging in size from 653 square feet to 1,359 square feet, according to Apartments.com. Rental rates for a studio apartment begin at $1,750. Amenities at The Rowley include a central village green lawn for social gatherings and events, resort-style swimming pool with cabanas, Zen garden with an outdoor yoga lawn and relaxation zones, as well as a dog park and spa. Additionally, the community includes indoor amenities such as a two-story clubroom, bar with a sports simulator room, entertainment lounges, private conference rooms, podcast room, coworking lounge and a fitness center, with 17 micro-office suites for residents who are hybrid or remote employees. Clari Park spans 78 acres and features a mix of retailers and restaurants like CAVA, Drake’s, Neighbors, Firebirds Wood Fired Grill, Main Event, In-N-Out Burger, Raising Cane’s and Whataburger, as well as a TownPlace Suites by Marriott hotel.

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Presidium-Tech-Ridge-Austin
DevelopmentMultifamilyTexas

Presidium Completes 358-Unit Multifamily Project in Northeast Austin

by Taylor Williams

AUSTIN, TEXAS — Texas-based developer Presidium has completed a 358-unit multifamily project in northeast Austin. Designed by Dallas-based Humphreys & Partners and Ink + Oro Interior Design, Presidium Tech Ridge sits on 14 acres and features studio, one- and two-bedroom units. Residences are furnished with stainless steel appliances, quartz countertops, built-in desks, wine coolers and full-size washers and dryers. The amenity package comprises a pool, fitness center, game room, coffee bar, theater lounge, golf simulator, business center, catering kitchen, coworking lounge, courtyard with fire pits and a dog park. Construction began in spring 2022. Rents start at $1,300 per month for a studio apartment.

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Missouri-City-1
DevelopmentMultifamilyTexas

Sueba USA Breaks Ground on 346-Unit Multifamily Project in Missouri City, Texas

by Taylor Williams

MISSOURI CITY, TEXAS — Locally based developer Sueba USA has broken ground on Missouri City 1, a 346-unit multifamily project located on the southwestern outskirts of Houston. The project is part of Phase III of a larger development known as Fort Bend Town Center. Units will come in studio, one-, two- and three-bedroom floor plans and will range in size from 496 to 2,088 square feet. Residences will be furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities will include multiple social areas, a coworking lounge with a conference center, a CrossFit-inspired fitness center, leisure and lap pools, outdoor grilling and dining stations, coffee bar and a pet park. Affiliates of Sueba USA are serving as both the project architect and general contractor. Completion is slated for next fall.

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Olea-Scottsdale-AZ
ArizonaDevelopmentMultifamilyWestern

Legacy Partners, DWS Start Construction on 433-Unit Apartment Project in Scottsdale, Arizona

by Amy Works

SCOTTSDALE, ARIZ. — A joint venture between Legacy Partners and DWS has commenced construction of Olea Scottsdale, a multifamily community in Scottsdale. Olea Scottsdale will feature 325 garden-style apartments in 14 buildings and 108 townhomes spread across 24 buildings. Delivery of the townhomes is slated for summer 2027, with apartments scheduled for fall 2027. KTGY is serving as architect and an affiliate of Houston-based The Dinerstein Cos. is serving as general contractor and co-investor for the project.

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Ansley-Murrayhill-Tigard-OR
AcquisitionsMultifamilyOregonWashingtonWestern

Pacific Urban Investors Acquires Two Multifamily Properties in Oregon, Washington

by Amy Works

TIGARD, ORE., AND BELLEVUE, WASH. — Palo Alto, Calif.-based Pacific Urban Investors has purchased two apartment communities in Oregon and Washington. Terms of the transactions were not released. The company acquired Meadow Creek, a 304-unit multifamily in Tigard, that has been renamed Ansley Murrayhill. Built in 1985, the two-story, garden-style property features 608 parking spaces, a clubhouse, fitness center, game room, swimming pool, spa, racquetball court and a dog park. Pacific Urban Investors also purchased Edgewood Park, a 195-unit property in Bellevue, that has been renamed Alder Bellevue. The low-density, garden-style community offers 372 parking spaces, two swimming pools, a fitness center and ample green space.

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AcquisitionsMidwestMinnesotaMultifamilySeniors Housing

New Perspective Acquires Five Senior Living Communities in Metro Twin Cities

by Kristin Harlow

MINNESOTA — New Perspective, a Minnetonka, Minn.-based senior living company, has acquired five properties in the Twin Cities metro area. The communities are located in White Bear Lake, Oakdale, Golden Valley, Rosedale and Minnetonka. Each of the properties offers assisted living and memory care services. Amenities include communal spaces, wellness and recreational programs and chef-prepared meals.  

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AcquisitionsIllinoisLoansMidwestMultifamily

Concord Summit Capital Arranges $25.1M Bridge Loan for Chicago Apartment Building

by Kristin Harlow

CHICAGO — Concord Summit Capital LLC has arranged $25.1 million in bridge financing for the acquisition of The Archer, a 68-unit apartment building in Chicago’s Gold Coast neighborhood. The funding enabled an existing limited partner to acquire full control of the asset from the general partner and initiate a renovation of the remaining units. Daniel Eidson and Ben Applebaum of Concord Summit sourced the financing on behalf of the borrower, YK Investments. The nonrecourse loan features a 100 percent loan-to-cost ratio. Located at 1211 N. LaSalle St., The Archer offers one- and two-bedroom layouts.

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AcquisitionsIllinoisMidwestMultifamilyRetail

Interra Realty Brokers $5.9M Sale of Apartment, Retail Property in Chicago

by Kristin Harlow

CHICAGO — Interra Realty has brokered the $5.9 million sale of 6642-6652 N. Clark St., a 42-unit apartment and retail building in Chicago’s Rogers Park neighborhood. The sale also included an adjacent parking lot at 6654 N. Clark St. Brad Feldman of Interra represented the buyer, Imran Khan, and the seller, George Triff. The property, which was fully occupied at the time of sale, features six studios, 28 one-bedroom units, two two-bedroom apartments and six retail units. Constructed in 1928, the three-story building presents a value-add opportunity for the buyer, who plans to renovate units, upgrade building systems and reconfigure some apartments to add bedrooms.

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MSMX-new-york-city
Affordable HousingDevelopmentMixed-UseNew YorkNortheastTop Stories

NYC Planning Commission Approves Midtown Manhattan Rezoning Proposal to Add Thousands of New Residences

by Abby Cox

NEW YORK CITY — The New York City Planning Commission has approved the Midtown South Mixed-Use Plan (MSMX), a rezoning initiative that could ultimately facilitate the creation of as many as 9,700 new residences across a 42-block section of Midtown Manhattan. The MSMX plan covers four areas centered around Herald and Greeley Square, located between West 23rd and West 40th streets, as well as Fifth and Eighth avenues. The area today is largely defined by commercial and industrial uses, with current land-use rules restricting new housing development. Midtown South is currently home to more than 7,000 businesses, 135,000 jobs and various public transportation hubs, but the neighborhood has struggled to rebound in the aftermath of the COVID-19 pandemic as hybrid work schedules have become more entrenched. In addition to these commercial vacancies, the submarket is subject to restrictive zoning rules that limit opportunities for New Yorkers to live near their jobs. “For far too long, outdated zoning policies have limited the potential of this well-resourced area to help address New York City’s urgent housing needs,” says Rachel Fee, executive director of the New York Housing Conference, nonprofit affordable housing policy and advocacy organization. “In the midst of a dire housing crisis, …

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