Thursday, July 2, 2026
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Multifamily

570-Eldert-Lane-Brooklyn
DevelopmentMultifamilyNew YorkNortheast

Partnership Breaks Ground on 213-Unit Multifamily Project in Brooklyn

by Taylor Williams

NEW YORK CITY — A joint venture between Slate Property Group and Thorobird Cos. has broken ground on a 213-unit multifamily project in Brooklyn. Designed by Think! Architecture + Design PLLC, the building will be located on a city-owned site at 570 Eldert Lane in the borough’s Cypress Hills area. Of the 213 units, which will come in one-, two-, three- and four-bedroom floor plans, 66 will be set aside for formerly homeless residents. The remaining units will be reserved for households earning between 40 and 80 percent of the area median income. Completion is slated for summer 2028, with full occupancy planned for 2029.

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The-Kensington-at-Halfmoon
AcquisitionsMultifamilyNew YorkNortheast

JLL Negotiates Sale of 200-Unit Apartment Complex in Halfmoon, New York

by Taylor Williams

HALFMOON, N.Y. — JLL has negotiated the sale of The Kensington at Halfmoon, a 200-unit apartment complex located on the northern outskirts of Albany. Built in 2014, the property features one- and two-bedroom units with an average size of 1,228 square feet. Amenities include a pool, fitness center, dog park, movie theater, coffee bar and a resident clubhouse. Steve Simonelli, Jose Cruz and Austin Pierce of JLL represented the seller, Richbell Capital, in the transaction. JLL also arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, MLG Capital.

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Affordable HousingCaliforniaDevelopmentMultifamilyTop StoriesWestern

Kennedy Wilson, Jamison Plan to Develop 4,000 Affordable Housing Units in Los Angeles

by Kristin Harlow

LOS ANGELES — Kennedy Wilson and Jamison have entered into a joint venture partnership, with plans to deliver 4,000 affordable housing units across Los Angeles through adaptive reuse and ground-up construction projects. The partnership is between Jamison’s newly launched affordable housing division, Arden Residential, and Kennedy Wilson’s affordable housing development joint venture, Vintage Housing. The first project is the conversion of the former LA World Trade Center office complex at 350 S. Figueroa St. The 400,000-square-foot property will be transformed into 512 affordable housing units and renamed Sky Castle. Units will come in one-, two- and three-bedroom floor plans. Amenities will include community rooms, a dedicated coworking space, resident lounge, onsite storage, laundry rooms and mail parcel rooms. Development on the first phase of Sky Castle is expected to begin in August and will focus on the building’s concourse levels, creating 241 units for families earning between 30 and 80 percent of the area median income. Phase II, planned for the office tower above, will add 271 units. The City of Los Angeles has approved the project under its new adaptive reuse ordinance. “Together, we will develop thoughtfully designed housing for families, seniors and communities through both adaptive reuse conversions …

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Affordable HousingDevelopmentMultifamilySeniors HousingTexas

Partnership to Develop 90-Unit Affordable Seniors Housing Project in Houston

by Taylor Williams

HOUSTON — A partnership between The NHP Foundation, Trinity East Village Community Development Corp. and Housing Alliance HTX, will develop an affordable seniors housing project in Houston. Trinity East Senior Village, the property will comprise 90 units for residents age 55 and older in the city’s Third Ward neighborhood. Construction is scheduled to begin this summer, with the opening scheduled for 2027. NRP Construction will serve as the general contractor for the project.

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Affordable HousingDevelopmentMultifamilyTexas

Housing Trust Group Completes 56-Unit Affordable Housing Conversion in Lubbock, Texas

by Taylor Williams

LUBBOCK, TEXAS — Housing Trust Group has completed an affordable housing conversion project in the West Texas city of Lubbock. The project transformed the historic, vacant Jim Kimmel Center, which was originally constructed in 1964 as a 91-room motel, into a complex with 56 units that are reserved for households earning between 30 and 80 percent of the area median income. Schmidt & Stuart Architects designed the project, which also involved the demolition of a restaurant and gas station on the site.

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LoansMultifamilyTexas

Red Oak Capital Provides $3.4M Bridge Loan for Killeen Apartment Complex

by Taylor Williams

KILLEEN, TEXAS — Red Oak Capital Holdings has provided a $3.4 million bridge loan for Cedar Creek Apartments, a 60-unit multifamily complex located in the Central Texas city of Killeen. Built in the early 1960s and renovated in 2024, Cedar Creek is a 15-building complex with one- and two-bedroom units. Nick Jans of Red Oak arranged the 12-month loan through Regions Bank on behalf of the borrower, JCORE. Proceeds will be used to fund the acquisition of the property and subsequent capital improvements.

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The-Standard-at-Kennesaw
DevelopmentGeorgiaSoutheastStudent Housing

Landmark Properties, Paceline Break Ground on 656-Bed Off-Campus Student Housing Community Near Kennesaw State University 

by Abby Cox

KENNESAW, GA. — Landmark Properties and an affiliate of Paceline Equity Partners have broken ground on The Standard at Kennesaw, a 656-bed, off-campus student housing community located less than a mile from Kennesaw State University in metro Atlanta. Landmark Construction, the in-house general contractor for Landmark Properties, will serve as general contractor for the five-story building. Niles Bolton Associates will serve as architect, while Eberly & Associates will serve as structural engineer. Construction will begin immediately and is expected to be completed for the 2028-2029 academic year. The Standard at Kennesaw will offer 157 units in studio through six-bedroom configurations. Amenities at the community will include a resort-style rooftop pool deck with a jumbotron; a grilling area and firepits; clubhouse; fitness center and sauna; golf simulator; open-air courtyards; a study lounge with a café; bike storage rack; parking deck; and more than 11,000 square feet of recreation space. The community will also offer 559 parking spaces and access to an off-campus shuttle bus.

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Hamptons-At-Woodland-Pointe
AcquisitionsMultifamilySoutheastTennessee

American Landmark Acquires 240-Unit Multifamily Community in Nashville

by Abby Cox

NASHVILLE, TENN. — American Landmark Apartments has acquired Hamptons at Woodland Pointe, a 240-unit apartment community located in Nashville. The seller requested anonymity and the price was not disclosed. The property will be rebranded as Woodland Pointe Residences. Built in 2021, Woodland Pointe Residences offers a mix of one-, two- and three-bedroom apartments ranging in size from 677 square feet to 1,649 square feet, according to Apartments.com. Amenities include a swimming pool with a sundeck, fitness center, clubhouse, business center, dog park, barbecue grilling pavilion, car care center and controlled-access entry.

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AcquisitionsMultifamilyNew JerseyNortheastSeniors Housing

Hudson Atlantic Negotiates Sale of 59-Unit Affordable Seniors Housing Building in Bayonne, New Jersey

by Taylor Williams

BAYONNE, N.J. — Regional brokerage firm Hudson Atlantic Realty has negotiated the sale of a 59-unit affordable seniors housing community in Bayonne, roughly 10 miles outside New York City. Senior Horizons at Bayonne features units that carry a range of income restrictions, including for residents earning 40 to 60 percent of the area median income. Adam Zweibel of Hudson Atlantic brokered the deal. The buyer and seller were not disclosed.

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Elara-at-the-Market-Seattle-WA
AcquisitionsMultifamilyWashingtonWestern

Seattle Housing Agency Buys First Multifamily Property for $60.9M

by Amy Works

SEATTLE — The Seattle Social Housing Developer (SSHD) has acquired its first multifamily property since city voters approved the creation of the independent public development authority in 2023. Spartanburg, South Carolina-based Johnson Development Associates sold Elara at the Market to SSHD for $60.9 million. Kidder Mathews arranged the sale. The 150-unit property, which Johnson Development Associates built in 2017, is located half a mile northwest of Pike Place Market. In 2023, Seattle city residents voted on Initiative 135, a local citizen-led ballot measure that officially chartered SSHD. In 2025, city voters went to the polls again to pass Proposition 1A, approving a local city tax on high-earning corporations to fund the public development authority. The city maintains the Seattle Housing Authority (SHA), which primarily serves the city’s poorest residents, mostly backed by federal HUD programs that fund households earning 30 percent or less of the area median income (AMI). SSHD, on the other hand, serves a middle bracket of residents earning up to 120 percent of AMI, specifically designed to help workforce renters, such as teachers and service industry workers — those renters who earn too much to qualify for public housing but not enough to afford market-rate rents. Johnson …

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