PITTSFIELD TOWNSHIP, MICH. — Gibbs Planning Group has proposed Sutherland Square, a neighborhood multifamily development in Pittsfield Township, just south of Ann Arbor. The walkable community will feature cottages, loft and townhomes, apartments, duplexes and larger family homes with varying price points and amenities as well as shops and offices clustered around a town square. Many of the homes will be designed for the “missing middle,” which refers to affordable housing options for renters and buyers. The proposed community is fully engineered and shovel ready. The neighborhood will be the Ann Arbor area’s first new urban community and one of only 10 built in Michigan in the post-World War II era, according to Gibbs. Sutherland Square is based on the concepts of New Urbanism, a planning movement co-founded by Robert Gibbs to promote traditional neighborhoods as an alternative to suburban sprawl. Traditional neighborhoods offer a variety of housing options all located in a walkable village setting. Sutherland Square will be located along State Road, four miles south of downtown Ann Arbor and nearby to the University of Michigan and Google office. Housing choices will include options for young, first-time renters, families, empty nesters and retired seniors. Sutherland Square will provide …
CHICAGO AND NORRIDGE, ILL. — Interra Realty has arranged the sale of two multifamily buildings on the northwest side of Chicago. Each property sold for $1.4 million. The assets are located at 3913 N. Central Ave. in Chicago’s Portage Park neighborhood (eight units) and 4255 N. Neva Ave. in Norridge (nine units). Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented both the private seller and confidential buyer of the Portage Park property. The trio also represented a local partnership in the acquisition of the Norridge asset. Richard Dawidiuk of RE/MAX Legends represented the private seller. Both buildings were fully occupied at the time of sale. The Norridge property last traded hands 25 years ago, and this is the first time the Portage Park building has sold since its construction in 1969. The Norridge property was built in 1963.
FRISCO, TEXAS — Carbon Cos. and Greenway Investment Co. have received roughly $125 million in construction financing for The Links on PGA Parkway, an apartment community located about 30 miles north of Dallas in Frisco. The debt, which was arranged by the Carbon Cos. internal team, will be used to complete the construction of the final two phases of the four-phase, 38-acre development. The financing includes a syndicated bank loan facility and mezzanine loan. Origin Bank arranged the syndicated bank loan, with participant banks including Simmons Bank, North Dallas Bank & Trust CO, b1Bank and Century Bank. Once fully completed in 2027, The Links on PGA Parkway will total 1,310 residential units. The first two phases of the development, which opened in December 2021 and October 2023, delivered 690 apartments and a two-acre city park. Phases III and IV will add an additional 620 apartments, as well as 815 underground parking spots. Last fall, ownership secured a $138.3 million loan from MF1 Capital for the refinancing of Phase I of the development. Phases I and II of the development feature a mix of one, two, and three-bedroom floor plans. Community amenities include two pools with outdoor lounges, two clubhouses, two …
RALEIGH, N.C. — Capital Square has opened Maeve, a 20-story multifamily tower located at 319 W. Lenoir St. in Raleigh’s Warehouse District. The high-rise includes 297 apartments and approximately 10,000 square feet of street-level retail space. Maeve offers studio, one-, two- and three-bedroom apartments, as well as a double-height lobby and 30,000 square feet of amenities, including a resort-style pool and rooftop lounge. Monthly rental rates range from $1,695 to $7,515, according to Apartments.com. Project partners for the tower included architect JDAVIS Architects, general contractor W.M. Jordan Co., landscape designer EDSA, equity partner FrontRange Capital Partners and construction lender First National Bank of Pennsylvania. Greystar is managing Maeve, and York Properties is overseeing the tower’s retail leasing assignment.
CHESAPEAKE, VA. — Fairstead has invested nearly $10 million for the renovation of Peaceful Village Apartments, a 65-unit affordable housing community located at 3000 Welcome Road in Chesapeake. Fairstead is partnering with the Chesapeake Redevelopment and Housing Authority, which manages the community, for the renovation through HUD’s Rental Assistance Demonstration (RAD) program. The overhaul will include new energy-efficient appliances, renovated kitchens, new exterior siding and the construction of a new community center. All renovations are expected to be complete by fall 2026. Built in 1995, Peaceful Village offers a mix of three- and four-bedroom townhomes reserved for households earning below $32,000 annually to $63,900 (60 percent of the area median income). Capital partners on the renovation include Berkadia, Freddie Mac, U.S. Bank and Woodforest Bank.
GOLDEN VALLEY, MINN. — Marcus & Millichap has brokered the $59.5 million sale of The Liberty, a 242-unit multifamily property in the Minneapolis suburb of Golden Valley. Completed in 2017, The Liberty features 55 townhomes and 187 apartment units that range from 568 to 1,536 square feet. Amenities include a pool, fitness center, solar panels, grilling area and clubhouse. The luxury property was 96 percent occupied at the time of sale. Abe Roberts of Marcus & Millichap represented the seller, an entity related to the Schactman family, and procured the buyer, Minnesota-based The Goodman Group.
BOTHELL, WASH. — JLL Capital Markets has arranged a $19 million loan for MainStreet Property Group for the refinancing of The 104, an urban-style multifamily community in Bothell. Seth Heikkila and Bill Maloney of JLL Capital Markets Debt Advisory team secured the five-year, fixed-rate loan through Fannie Mae. JLL Real Estate Capital LLC will serve the loan. The 104 features 115 traditional and open one- and two-bedroom floor plans, averaging 773 square feet, with stainless steel appliances, walk-in closets and exposed concrete details. Community amenities include a lounge with kitchen, a community courtyard, bike storage and valet trash service. The property is located at 18414 104th Ave. NE.
HUTTO, TEXAS — A partnership between Atlanta-based developer Wood Partners and ParkProperty Capital (PPC) has broken ground on a 336-unit multifamily project in Hutto, approximately 30 miles north of Austin. Located off of Ed Schmidt Boulevard, the community will comprise 10 three-story buildings. Amenities will include a fitness center, a business lounge, private offices, clubroom with a coffee station, pool and a fenced dog park. Additionally, in collaboration with City of Hutto officials, the development will feature two pickleball courts, parkland with a walking trail and an 18-hole disc golf course that will also be available for public use. Completion is slated for the third quarter of 2026.
DESOTO, TEXAS — A partnership between boutique multifamily investment firm RSN Property Group and Monday Properties, which has three East Coast offices, has acquired Ventura Landings, a 226-unit apartment complex located in the southern Dallas suburb of DeSoto. The newly renovated property offers one- and two-bedroom units and amenities such as a pool, clubhouse, basketball court and onsite laundry facilities. The new ownership plans to implement additional capital improvements and has already rebranded the property as Eagle Creek Landing. The seller and sales price were not disclosed.
TRURO, MASS. — The Community Builders (TCB) has broken ground on Cloverleaf, a 43-unit affordable housing project in Truro, located on Cape Cod. The majority (39) of residences will be restricted to households earning between 30 and 100 percent of the area median income, and the other four will be rented at market rates. Units will come in one-, two- and three-bedroom formats and will be spread across 10 buildings. TCB is developing Cloverleaf in partnership with Community Housing Resource Inc. and the Town of Truro.