WORCESTER, MASS. — MassDevelopment has provided $21.4 million in tax-exempt bond financing for a 73-unit, 16-building affordable housing complex in Worcester. The owner, Worcester Common Ground, will use proceeds to renovate the complex, which houses units that are reserved for renters earning between 30 and 60 percent of the area median income, and preserve its affordability status. Improvements will include the replacement and upgrading of electrical, mechanical and plumbing systems, as well as the renovation of kitchens and bathrooms. Roofs will also be replaced, and four fully accessible units will also be created. Construction is underway and is expected to be complete in spring 2027.
NEW YORK CITY — Stripe has signed a 139,497-square-foot direct office lease expansion in Lower Manhattan. The global financial technical services company now occupies 285,977 square feet of space across eight floors at 28 Liberty Street, where Stripe first took occupancy in summer 2024 via a four-floor sublease. Peter Riguardi, John Wheeler, Mitchell Konsker and Michael Berman of JLL represented the undisclosed landlord in the lease negotiations. Jeff Fischer and Sacha Zarba of CBRE represented Stripe. The deal brings the building’s office component to 96.5 percent occupancy.
By Marc Hale, DarwinPW Realty/CORFAC International The Chicagoland industrial market continues to stand out as one of the most important in the country. Its location at the center of the U.S. transportation network gives companies the ability to reach nearly one-third of the nation’s population within a single day’s drive. Six Class I railroads, an abundance of intermodal facilities and seven major interstate highways all converge here, making it one of the most efficient distribution platforms in North America. Chicago O’Hare International Airport also ranks among the top cargo airports in the world, adding critical global connectivity. These advantages are reinforced by a large and diverse labor pool, which has long supported the region’s position as a major hub for manufacturers, distributors and logistics providers. The area’s role as a manufacturing hub is further reinforced by its proximity to major steel mills and primary metal production facilities, the depth of its skilled workforce and plentiful access to water from Lake Michigan, which has long supported heavy industry and advanced manufacturing across the region. The market’s vacancy rate has been trending higher, moving from 5.2 percent in the third quarter of 2024 to 5.9 percent in the third quarter of 2025. …
TERRELL, TEXAS — Main Square Development has announced that the company has received approval from the Terrell City Council for the development of Terra Nova, a new $3 billion master-planned community. Situated roughly 30 miles east of Dallas, the development will feature 1,200 multifamily units and a 48-acre mixed-use district, as well as 3,600 single-family homes. The mixed-use component of the development will include 200,000 square feet of shops, restaurants and offices anchored by a main square. Terra Nova will also feature 145 acres of parks and trails, including 27 neighborhood parks connected by 30 miles of biking and hiking trails, with an additional 220 acres of open natural space. The first phase will include a neighborhood pool and amenity center, and a regional amenity center will be added in a future phase. Project plans include 15 phases over the next 20 years. Plano, Texas-based Main Square is working with the Terrell Independent School District to identify locations for future elementary and middle schools that will ensure Terra Nova’s future residents have access to public education. The developer is also dedicating six acres for new police station and fire department facilities, in addition to one acre reserved for a new …
FRISCO, TEXAS — Wilks Development, the master developer behind the 217-acre Firefly Park mixed-use development in Frisco, is underway on construction of The Noc, a 187-unit multifamily project. Designed by Hord | Coplan | Macht, The Noc will offer studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, coworking and conference spaces, a dog spa and a resident lounge with golf simulators. Andres Construction is the general contractor for the project, construction of which is being financed through a HUD-insured loan that was originated by San Antonio-based Mason Joseph Co. Vertical construction began in late September, and completion is slated for fall 2027.
HOUSTON — Southern Realty Trust, an affiliate of Tannenbaum Capital Group (TCG), has provided $15 million in financing for a retail property in Houston. The property is a seven-story, fully leased complex that is located at the intersection of Houston’s Galleria and River Oaks neighborhoods and is home to Park House Houston, Ciel Restaurant and Fountain Life Longevity Center. The loan is part of a larger $45 million financing package, and the remaining proceeds were provided by another TCG lending affiliate. The borrower is a partnership between local developer John Scott and hospitality developer WoodHouse.
LIVE OAK, TEXAS — Dick’s Sporting Goods has opened a 100,000-square-foot store under its “House of Sport” brand at Live Oak Town Center, a mixed-use development located on the northeastern outskirts of San Antonio. The store, which along with a 300,000-square-foot IKEA and a 79,681-square-foot Floor & Décor will anchor the property, features a climbing wall, outdoor field, golf bays and a multi-sport cage. David Nicolson and Michael Schoenbrun of Weitzman internally represented the landlord in the lease negotiations.
HOUSTON — Locally based brokerage firm Baker Katz has negotiated seven new retail leases for Einstein Bros. Bagels in the greater Houston area. The spaces are located within the Tanglewood and Garden Oaks neighborhoods in Houston proper, as well as in the suburbs of Katy, Conroe, Humble, Tomball and League City. The average deal size is 2,000 square feet. Landlord representatives in the various lease negotiations included CBRE, Excel Commercial, NewQuest, Fidelis, Blue Ox Group and SVN | J. Beard Real Estate.
HOUSTON — Johnson Brothers of Texas Inc., a distributor of alcoholic beverages, has signed an 11,250-square-foot industrial lease in North Houston. According to LoopNet Inc., the building at 3340 Greens Road was built in 1997 and totals 126,968 square feet. Ryan Hartsell of locally based brokerage firm Oxford Partners represented the tenant in the lease negotiations. Jack Rathe and Natalie Gilbert of Stream Realty Partners, along with internal agent Kyle Whieldon, represented the landlord, Prologis.
JERSEY CITY, N.J. — JLL has negotiated the sale of The Morgan at Provost Square, a 417-unit apartment building in Jersey City. Built in 2016, the 38-story building houses studio, one-, two- and three-bedroom units with an average size of 876 square feet, as well as penthouses on the top two floors. The Morgan at Provost Square also features approximately 12,700 square feet of retail space and a seven-story parking garage with 372 covered spaces. Amenities include a rooftop pool, fitness center, a sky lounge with a private conference room, an outdoor courtyard, pet spa and multiple coworking spaces. Jose Cruz, Michael Oliver, Steve Simonelli, Ryan Robertson, Elizabeth DeVesty and Austin Pierce of JLL represented the seller, a joint venture that included Toll Brothers Apartment Living, in the transaction. JLL also advised the buyer, private equity real estate firm Rockpoint.