Tuesday, December 2, 2025
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Multifamily

Affordable HousingDevelopmentMichiganMidwestMultifamily

New Phase of Recovery Supportive Housing Development Opens in Jackson, Michigan

by Kristin Harlow

JACKSON, MICH. — The McDaniel Apartments at Andy’s Place II has opened in Jackson, about 37 miles west of Ann Arbor. The project marks a major expansion of Michigan’s first Permanent Recovery Supportive Housing initiative. The development adds 26 affordable housing units and vital recovery services to serve expectant families overcoming opioid addiction. The new phase is named in honor of Mark McDaniel, president and CEO of Cinnaire. Andy’s Place, established in 2020, was the first in Michigan to directly link long-term housing with recovery services. Andy’s Place II, now The McDaniel Apartments, focuses on keeping families together through recovery. Unlike the first phase, which primarily serves treatment court referrals, this phase is open to families applying directly. Residents will have access to peer recovery coaching; onsite behavioral health services; a resource center and community room; and outdoor gathering spaces, picnic areas and a tot lot. These features are designed to reduce relapse, prevent family separation and help residents develop the skills needed for long-term recovery and independence. The McDaniel Apartments was made possible through a collaboration among local, state and private-sector partners, including Cinnaire, Huntington Bank, Comerica, Fifth Third Bank, Michigan State Housing Development Authority and various community-based organizations. …

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Affordable HousingDevelopmentMultifamilyNew JerseyNortheast

Pennrose Completes 76-Unit Affordable Housing Project in Moorestown, New Jersey

by Taylor Williams

MOORESTOWN, N.J. — Pennrose has completed Residences at Harper, a 76-unit affordable housing project in Moorestown, located in Southern New Jersey’s Burlington County. Units come in one-, two- and three-bedroom floor plans and are reserved for households earning between 30 and 60 percent of the area median income. Several residences will be specifically earmarked for formerly homeless residents or those with certain disabilities. Amenities will include a community room, fitness center, playground and a laundry room.

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Veranda-Austin
AcquisitionsMultifamilyTexas

Newmark Brokers Sale of 362-Unit Apartment Community in Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — Newmark has brokered the sale of Veranda, a 362-unit apartment community located at 7205 E. Ben White Blvd. in downtown Austin. Completed in 2024, the garden-style property offers one-, two- and three-bedroom apartments and townhomes with an average size of 802 square feet. Amenities include a pool, outdoor grilling and dining areas, a game room and a fitness center. Patton Jones and Andrew Dickson represented the seller, Wayfinder Real Estate, in the transaction. Adam Randall and John Westby-Gibson, also with Newmark, arranged acquisition financing on behalf of the buyer, a partnership between Missio Capital and Bow River Capital.

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Westbend-Residences-Fort-Worth
DevelopmentMultifamilyTexas

Trademark Breaks Ground on 321-Unit Multifamily Project in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Locally based owner-operator Trademark Property Co. has broken ground on Westbend Residences, a 321-unit multifamily project that will be located in Fort Worth’s University District. The site spans 3.5 acres within Trademark’s Westbend mixed-use development that fronts the Clear Fork Trinity River. Units will come in one-, two- and three-bedroom floor plans, and a few penthouses will also be available on the top floor.  Amenities will include two elevated resort-style pools, a fitness center and a dog spa, as well as 4,500 square feet of retail space. Construction is expected to be complete in early 2027.

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DevelopmentFloridaSoutheastStudent Housing

Harrison Street, Core Spaces to Break Ground on 1,195-Bed Student Housing Development in Tampa

by John Nelson

TAMPA, FLA. — A joint venture between Harrison Street Asset Management and Core Spaces is set to break ground on Hub Tampa Fowler, a 1,195-bed student housing development located near the University of South Florida campus in Tampa. The community will be located within Rithm, a larger mixed-use development led by RD Management that will include hotels, entertainment and retail space. The project is scheduled for completion in 2027 and will offer units in a wide range of configurations across multiple price points, as well as expansive shared amenity spaces. Further details on the development were not released. QuadReal Property Group provided financing for the project. TSB Capital Advisors consulted on the joint venture and financing for the development. The project will mark the second for Harrison Street and Core Spaces in the Tampa market, following Hub Tampa, which was delivered in 2022.

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Eagleview-Landing-Exton
DevelopmentMultifamilyNortheastPennsylvaniaSeniors Housing

Hankin Group to Undertake $67M Expansion of Metro Philadelphia Seniors Housing Community

by Taylor Williams

EXTON, PA. — Hankin Group will undertake a $67 million expansion project at Eagleview Landing, its senior living community in Exton, roughly 30 miles west of Philadelphia. Upon completion, the expansion will add 117 independent living residences to the property, which currently consists of 107 assisted living and memory care units and 9,000 square feet of amenity space. The new building will also feature additional amenity space, including a fitness center, indoor pool, spa, theater, game rooms and golf simulator. Residents will also have access to a parking garage, landscaped courtyards and walking trails. Completion is scheduled for November 2026.

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LoansMultifamilyNorth CarolinaSoutheast

Walker & Dunlop Provides $156.6M Agency Refinancing for Sun Belt Multifamily Portfolio

by John Nelson

BETHESDA, MD. — Walker & Dunlop has provided a $156.6 million Fannie Mae loan for the refinancing of a five-property, 1,351-unit multifamily portfolio in the Sun Belt. Allan Edelson and Joe Tarantino of Walker & Dunlop originated the loan on behalf of the borrower, Boston Capital Real Estate Partners. The names and addresses of the properties were not disclosed, but the portfolio includes assets in North Carolina and Texas.

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Affordable HousingDevelopmentGeorgiaIndustrialMixed-UseMultifamilySoutheast

Atlanta Beltline Issues RFP for Mixed-Use Development on Southside Trail

by John Nelson

ATLANTA — Atlanta Beltline has issued a request for proposals (RFP) for new mixed-use development on a site along the Beltline’s Southside Trail. The 13.7-acre site is located at 356 University Ave. near the city’s historic Pittsburgh neighborhood that the Beltline purchased in 2023. Atlanta Beltline met with more than two dozen community groups since April 2024 to discuss future plans for the site. Based on the community feedback and the Beltline’s newly completed master plan, the RFP is seeking a mix of market-rate and affordable housing, as well as a mix of commercial and industrial uses. More specifically, the RFP calls for at least 30 percent of residential units reserved as permanently affordable (10 percent at or below 80 percent AMI, 20 percent at or below 50 percent AMI); a minimum of 30 percent of total floor area dedicated to light-industrial use; affordable commercial space (at least 20 percent at rents 30 percent below market for more than 10 years); a partnership with an arts, cultural or community organization for onsite programming; and accessible green spaces, ADA pathways and Beltline connectivity. To date, the Beltline has acquired nearly 90 acres preserved for residential and commercial affordability for both residents …

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Build-to-RentDevelopmentGeorgiaMultifamilySingle-Family RentalSoutheast

Parkland Residential Begins Leasing 140-Unit Build-to-Rent Townhome Community in Sugar Hill, Georgia

by John Nelson

SUGAR HILL, GA. — Parkland Residential, the build-to-rent (BTR) division of Parkland Communities, has begun leasing Park Ridge, a 140-unit BTR community located at 100 Park Summit Blvd. in Sugar Hill, a northeast suburb of Atlanta in Gwinnett County. Phase I of the development, which comprises 72 rear-entry, stacked townhomes, is underway. Parkland Residential has delivered a model home at Park Ridge that prospective renters can now tour. Each unit will be configured in one of two floorplans: a three-bedroom, 1,950-square-foot townhome branded The Dogwood and a two-bedroom, 1,600-square-foot townhome branded The Laurel. All units will feature a one-car garage, separate tub and showers in the master bathroom and a master bedroom with a walk-in closet.

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AcquisitionsMultifamilyNew YorkNortheast

Ariel Property Advisors Arranges $19.6M Sale of Multifamily Portfolio in The Bronx

by Taylor Williams

NEW YORK CITY — Local brokerage firm Ariel Property Advisors has arranged the $19.6 million sale of the Tegford Portfolio, a collection of nine rent-stabilized multifamily buildings totaling 237 units in the Longwood area of The Bronx. The buildings all rise five stories and are located along Wales Avenue, East 152nd Street, East 151st Street and Tinton Avenue. The portfolio also features 12 commercial spaces. Victor Sozio, Shimon Shkury, Jason Gold, Remi Mandell, Jake Brody and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.

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