Multifamily

Palladium Completes $35M Mixed-Income Housing Project in Northeast Houston

by Taylor Williams October 1, 2025

HOUSTON — Dallas-based multifamily developer Palladium USA has completed a $35 million mixed-income housing project in northeast Houston. Palladium Houston Ella is a three-story, 146-unit building that houses one-, two- and three-bedroom units. About 78 percent (115) of the units are reserved for renters earning between 30 and 60 percent of the area median income, and the remainder will be rented at market rates. Amenities include a pool, fitness center, conference center, dog park, computer lounge, kid’s play area and a clubroom. Palladium developed the project in partnership with the Harris County Housing Finance Corp. HEDK Architects designed the property, and Brownstone Construction served as the general contractor. Construction began in early 2024.

October 1, 2025

Affordable Housing Development Multifamily New Jersey Northeast

NJEDA Approves $90M in Tax Credit Equity for Jersey City Multifamily Project

by Taylor Williams October 1, 2025

JERSEY CITY, N.J. — The New Jersey Economic Development Authority (NJEDA) has approved approximately $90 million in tax credit equity for a 360-unit multifamily project in Jersey City. A developer doing business as 701 Newark Ave LLC will develop a 34-story building in the Journal Square neighborhood with affordable housing units and roughly 3,000 square feet of ground-floor retail space, as well as a public promenade. The NJEDA awarded the tax credit allocation, which represents about 60 percent of the total project cost, through its Aspire program, which provides gap financing for mixed-use, transit-oriented residential developments.

October 1, 2025

Development Loans Multifamily New York Northeast

S3 Capital Provides $80M in Financing for Midtown Manhattan Multifamily Project

by Taylor Williams October 1, 2025

NEW YORK CITY — S3 Capital, the lending arm of New York City-based investment firm Spruce Capital Partners, has provided $80 million in financing for the development of a 131-unit multifamily project that will be located in Midtown Manhattan’s Turtle Bay area. The borrower is local developer David Halberstam. The doorman- and elevator-served building at 303 E. 44th St. will offer studio, one- and two-bedroom units and amenities such as a fitness center, rock climbing wall, rooftop pool, coworking lounge and a clubhouse. A portion of the residences will be earmarked as affordable housing. Sitework is underway, and completion is slated for the third quarter of 2027.

October 1, 2025

Build-to-Rent Development Georgia Mixed-Use Multifamily Single-Family Rental Southeast

Mallory & Evans to Develop $95M Mixed-Use Community in Athens, Georgia

by John Nelson October 1, 2025

ATHENS, GA. — Atlanta-based Mallory & Evans has plans to develop The Shoals, a mixed-use development located near University of Georgia in Athens. The $95 million Phase I will feature 285 residences, 456 parking spaces (garage and street), green spaces and more than 20,000 square feet of retail and commercial space. Residences will come in studio to four-bedroom configurations in multiple formats — townhomes, duplexes, cottages, live/work units and single-family homes — and are expected to deliver in 2027. Phase I will span 22 acres of the 90-acre site, which will interface with the Athens Firefly & Greenway Trail system. Ultimately, The Shoals will feature more than 600 residences and commercial space across four connected pocket neighborhoods.

October 1, 2025

Acquisitions Florida Multifamily Southeast

American Landmark Acquires 420-Unit Apartment Community in Jacksonville

by John Nelson October 1, 2025

JACKSONVILLE, FLA. — American Landmark Apartments has acquired Rosemont St. Johns, a 420-unit apartment community located at 12310 Seacrest Lane in Jacksonville’s Southside neighborhood. Built in 2007, the property features a mix of one-, two- and three-bedroom apartments. Amenities include a resort-style swimming pool with a sundeck, clubhouse with resident lounge and entertainment kitchen, 24-hour fitness center, outdoor grilling and picnic areas and a dog park. The seller and sales price were not disclosed.

October 1, 2025

Acquisitions Loans Multifamily New York Northeast

JLL Brokers $49.5M Sale of Manhattan Apartment Building

by Taylor Williams October 1, 2025

NEW YORK CITY — JLL has brokered the $49.5 million sale of 640 Broadway, a nine-story apartment building in Manhattan’s NoHo neighborhood. The building houses loft-style residential units and 4,200 square feet of retail space that is fully leased to tenants such as UPS, Two Hands Café and Van Leeuwen Ice Cream. Steven Rutman, Jeffrey Julien, Rob Hinckley and Ethan Stanton of JLL represented the seller, Acadia Realty Trust, in the transaction, and procured the buyer, a partnership between New York-based investment firm Pamera North America and local operator Targo Capital. Michael Gigliotti, Stephen VanLeer and John Flynn, also with JLL, arranged a $30.5 million acquisition loan for the deal through Citi Private Bank.

October 1, 2025

Affordable Housing California Development Multifamily Seniors Housing Western

R.D. Olson Completes $30M Affordable Seniors Housing Development in San Diego

by Amy Works October 1, 2025

SAN DIEGO — R.D. Olson, an Irvine, Calif.-based general contractor, has completed the construction of Kettner Crossing, a $30 million affordable housing community situated in San Diego’s Little Italy neighborhood. Bridge Housing Corp. was the developer. Totaling 64 units, the residences are reserved for seniors age 62 and older earning no more than 30 to 60 percent of the area median income. The building also features 2,200 square feet of commercial office space available for lease. Amenities at the community include a rooftop overlooking North San Diego Bay, an open-air turf space, community room and library. A majority of the units (55) feature one-bedroom layouts, and the remaining units are a mix of two-bedroom and studio apartments. The County of San Diego provided the land as well as some financing for the development, which took two years to complete, and partnered with Bridge Housing Corp. to bring the project to fruition. Specifics of the funding were not disclosed, but the state issued $2.5 million in federal low-income housing tax credits to the capital stack. The project team also included architect AVRP Studios, construction manager JLL and civil engineer Fuscoe Engineerings.

October 1, 2025

Development Midwest Multifamily Student Housing Wisconsin

CRG Breaks Ground on 516-Bed Chapter Mifflin Student Housing Community Near University of Wisconsin-Madison

by Kristin Harlow October 1, 2025

MADISON, WIS. — CRG has broken ground on Chapter Mifflin, a six-story, 516-bed student housing community in Madison’s Mifflin District adjacent to the University of Wisconsin-Madison. CRG assembled a 1.5-acre site of 12 contiguous parcels along West Washington Avenue and West Mifflin Street for the project and rezoned them for higher-density residential. Chapter Mifflin will offer 162 fully furnished units. Completion is slated for the 2027-28 academic year, with preleasing expected to commence in summer 2026. Currently home to a mix of single-family residences and duplexes operating as student housing, the project site is a half mile from the Memorial Library and four blocks from the retail and entertainment offerings along the State Street corridor. Chapter Mifflin will offer a range of studio through five-bedroom units. Amenities will include a fitness center, study areas, outdoor courtyards, a fifth-floor terrace and secure parking garage. Lamar Johnson Collaborative, a subsidiary of CRG’s parent company Clayco, designed the project, which will feature a public pedestrian connection. Wisconsin-based CG Schmidt will serve as general contractor. CRG worked with Alder Mike Verveer; Madison’s Department of Planning, Community & Economic Development; Capitol Neighborhoods Inc.; and other local stakeholders on the project.

October 1, 2025

Development Midwest Multifamily Ohio

NRP Group Completes 316-Unit Luxury Apartment Development in Cleveland’s Scranton Peninsula

by Kristin Harlow October 1, 2025

CLEVELAND — The NRP Group has completed The Collins, a 316-unit luxury apartment development on the Scranton Peninsula in Cleveland. The development transforms a long-underutilized waterfront site. Designed by BKV Group, the project spans more than 7 acres and comprises two five-story apartment buildings and three townhome buildings. Apartment units range from studios to three-bedroom layouts. Townhomes include private entry, rooftop balconies and two-car garages. Indoor amenities include a fitness center, resident clubhouse, conference room, private breakout pods and a pet spa. A fifth-floor lounge provides views of the Cuyahoga River and city skyline. Outdoor amenities include a resort-style pool, firepits, grilling stations and an event plaza. The development connects to the Towpath Trail, with free onsite bike rentals available for residents. Dollar Bank served as the construction lender. The Ohio Department of Development provided funds through its Brownfield Remediation and State Opportunity Zone Programs. The Ohio Water Development Authority provided gap financing as well. The City of Cleveland provided tax abatement and tax-increment financing. Monthly rents start around $1,505, according to the property’s website. Residents can earn two months of free rent by moving in prior to Nov. 1.

October 1, 2025

Multifamily Student Housing Texas

Dwight Mortgage Trust Funds $35M Recapitalization of Student Housing Property in Bryan, Texas

by Taylor Williams September 30, 2025

BRYAN, TEXAS — Dwight Mortgage Trust, the affiliate REIT of New York City-based Dwight Capital, has funded the $35 million recapitalization of Camber Villas, a 490-bed student housing community in the Central Texas city of Bryan. The property is located across the street from Blinn College and consists of 22 three-story buildings housing one-, two, three- and four-bedroom units. Amenities include a business center, pool, dog park, coffee bar, fitness centers, sand volleyball courts and an outdoor basketball court. The transaction was originated by David Scheer and Jack Baron of Dwight Capital and arranged by Culby Culbertson of Culbertson Holdings.

September 30, 2025

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