Sunday, February 1, 2026
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Multifamily

Affordable HousingDevelopmentLoansMultifamilySoutheastVirginia

Partnership Receives $120M for Redevelopment of Samuel Madden Homes in Old Town Alexandria, Virginia

by John Nelson

ALEXANDRIA, VA. — A public-private partnership between Fairstead, Alexandria Redevelopment and Housing Authority (ARHA) and The Communities Group has received $120 million in financing for the ground-up redevelopment of Old Town Alexandria’s historic Samuel Madden public housing complex. The Samuel Madden site will be redeveloped into a six-story, 295,000-square-foot mixed-income community. The property’s affordable component will apply to all households earning between 30 and 80 percent of the area median income (AMI). Originally constructed in 1945, the Samuel Madden community will be redeveloped to feature 207 units, ranging from one- to four-bedroom floorplans. Community amenities will include a studio for podcast recording, game room with free internet access, 7,500 square feet of open space, interior courtyard and an underground parking garage. Local nonprofit organization ALIVE! will also operate a 500-square-foot food hub on the ground-floor to provide residents access to fresh food and various resources. Additionally, through a partnership with Virginia Center for Housing Research at Virginia Tech, green design elements will be incorporated throughout the development to reduce energy and water consumption. Financing sources for the development include Boston Financial, Freddie Mac, Virginia Housing, Sterling Bank, the City of Alexandria, the U.S. Department of Housing and Urban Development (HUD) …

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DevelopmentFloridaMultifamilySoutheast

Collier Cos. Begins Leasing 300-Unit Multifamily Development in Palmetto, Florida

by John Nelson

PALMETTO, FLA. — The Collier Cos. has begun leasing Stafford at Artisan Lakes, a 300-unit multifamily development located in the Sarasota suburb of Palmetto. The gated community offers one-, two- and three-bedroom floorplans, ranging from 705 square feet to 1,326 square feet in size, according to Apartments.com. Monthly rental rates for the Stafford at Artisan Lakes begin at $1,599 for a one-bedroom apartment. Amenities include a resort-style pool, fitness center, outdoor yoga lawn, game room, pickleball court and pet spa, as well as rental garages and electric vehicle charging stations. Select apartments also offer lake views and private backyards.

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DevelopmentFloridaMultifamilySoutheast

Madison Communities Delivers 276-Unit Apartment Community in Metro Jacksonville

by John Nelson

ST. JOHNS, FLA. — Madison Communities has opened Madison Fountains, a 276-unit apartment community located in the Jacksonville suburb of St. Johns. BenCo, the project’s general contractor, is an affiliate of Madison Capital Group Holdings. The development features studios, one-, two- and three-bedroom floorplans, ranging from 708 square feet to 1,363 square feet in size, according to Apartments.com. Monthly rental rates for studio apartments begin at $1,378. Amenities at the property include a clubhouse-integrated fitness center, resort-style swimming pool with grilling stations and an onsite dog park and grooming station, as well as proximity to the Gourd Island Conservation Area, a 3.7 dog-friendly trail system. Additionally, the community is within walking distance to Jacksonville’s St. Johns Town Center, a super-regional open-air mall that features more than 175 stores.

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Affordable HousingDevelopmentMichiganMidwestMultifamily

Hope Network Opens $40M Affordable Housing Development in Grand Rapids

by Kristin Harlow

GRAND RAPIDS, MICH. — Hope Network has opened Eastpointe Commons, a $40 million affordable housing development in Grand Rapids. Formerly the Fulton Manor property, the 118-unit community was completely renovated and is now fully leased. The 182,018-square-foot complex features 79 one-bedroom units, 34 two-bedroom units and five three-bedroom apartments. The property is home to a mix of residents, including veterans, seniors and people with disabilities. Hope Network offers social services and case management onsite. Amenities include a children’s room, exercise room, multipurpose room, courtyard and grilling area. The project team included DeStigter Architecture and Pioneer Construction. The building has earned GREEN Energy certification from the Enterprise Green Communities. Financing for the project came from UnitedHealth Group, Cinnaire Corp., Fifth Third Bank, CPC Financial, HUD CPF Community Grant and the City of Grand Rapids MEDC Grant.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $9.6M Sale of Apartment Building on Chicago’s North Side

by Kristin Harlow

CHICAGO — Interra Realty has brokered the $9.6 million sale of 6930 N. Greenview Ave. in Chicago’s Rogers Park neighborhood. The property features 66 apartment units and five retail spaces, two of which are occupied by a local coffee shop and a political field office. Built in 1932, the asset features a mix of studio and one-bedroom layouts. Patrick Kennelly of Interra represented the buyer, the Mehmeti family. Joe Smazal of Interra represented the confidential seller. The building was fully leased at the time of sale. Though the property has received recent upgrades including a new boiler and updated elevator controls, the buyer has an opportunity to add value through strategic capital improvements, according to Interra.

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LoansMultifamilyNew JerseyNortheast

JLL Arranges $50M Permanent Loan for Southern New Jersey Apartment Complex

by Taylor Williams

WESTAMPTON, N.J. — JLL has arranged a $50 million permanent loan for a 275-unit apartment complex in Westampton, located in Southern New Jersey’s Burlington County. The name of the property was not disclosed. Michael Klein and Gerard Quinn of JLL arranged the five-year, fixed-rate loan through a life insurance company. The name of the borrower was also not disclosed.

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One-Dekalb-White-Plains
AcquisitionsMultifamilyNew YorkNortheast

IPA Negotiates Sale of 76-Unit Apartment Complex in White Plains, New York

by Taylor Williams

WHITE PLAINS, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of One Dekalb, a 76-unit apartment complex located north of New York City in White Plains. The property was built in 2019 and offers amenities such as a rooftop terrace, resident lounges and coworking spaces. According to Apartments.com, units come in studio, one- and two-bedroom floor plans. Victor Nolletti, Wes Klockner and Ross Friedel of IPA represented the undisclosed seller in the transaction and procured the buyer, Benchmark Real Estate Group. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.

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ArizonaDevelopmentMixed-UseMultifamilyRestaurantRetailTop StoriesWestern

Creation, Crescent Break Ground on Heritage Park Mixed-Use Development in Downtown Gilbert, Arizona

by John Nelson

GILBERT, ARIZ. — A partnership between two developers, Creation and Crescent Communities, has broken ground on the first phase of Heritage Park, a mixed-use development that will occupy a full city block in downtown Gilbert. The project will function as the northern gateway of Heritage District, which at full build-out will revitalize 10 acres in the East Valley of the metropolitan Phoenix area. Phase I of Heritage Park will feature 47,000 square feet of shops and restaurants, the 288-unit NOVEL Heritage Park apartments, a public square with water features and more than 300 surface parking spaces. The Arizona Republic reported that the first phase represents a $200 million capital investment, with the entire mixed-use development carrying a price tag of $500 million. Future phases of Heritage Park will include a 125-room hotel, offices and additional parking. “Bringing Heritage Park from vision to reality is a collaborative effort, driven by our exceptional development and construction teams, supportive town leadership and visionary tenants,” says David Sellers, co-founder of Creation, which has offices in Phoenix and Dallas. “Together, we are committed to creating an iconic gateway into Gilbert’s Heritage District — one that enhances quality of life, celebrates local culture and offers an exceptional …

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The-Flats-at-Big-Tex-San-Antonio
AcquisitionsMultifamilyTexas

Newmark Brokers Sale of 336-Unit Apartment Community in Downtown San Antonio

by Taylor Williams

SAN ANTONIO — Newmark has brokered the sale of The Flats at Big Tex, a 336-unit apartment community in downtown San Antonio. The property offers studio, one- and two-bedroom units that range in size from 530 to 1,391 square feet. Amenities include a pool, fitness center, rooftop terrace, Wi-Fi café and walking/biking trails. Patton Jones, Matt Michelson and Andrew Dickson of Newmark represented the undisclosed seller in the transaction. San Antonio-based Kairoi Residential acquired the property. The sales price was not disclosed.

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DevelopmentFloridaMultifamilySoutheast

Fairfield Delivers Two Multifamily Developments in Fort Lauderdale Totaling 537 Units

by John Nelson

FORT LAUDERDALE, FLA. — Fairfield, a multifamily developer and owner based in San Diego, has completed construction of Coasterra Apartments in downtown Fort Lauderdale. The mid-rise community has 242 studio, one-, and two-bedroom apartments. Located at 150 SE 3rd Ave. in the Las Olas district, the community is adjacent to the One Financial Plaza office building. Fairfield also recently completed construction of Treo Apartments at 6500 N. Andrews Ave. in Fort Lauderdale. Treo has 295 studio, one- and two-bedroom units.

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