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By Taylor Williams  Like most members of the working world, professionals who design and build multifamily properties in Texas have had to adjust how they do business and service clients in response to COVID-19. But many of these companies and individuals have managed to do so in ways that haven’t significantly hindered workflow. From conducting virtual meetings with staff or clients to using complex interfaces that allow for real-time illustrations to maintaining strict distancing and tracking protocols on job sites, architects and contractors are finding solutions that minimize pandemic-related disruptions. Some delays in the design and building processes have been inevitable. Job sites sometimes have to be shut down when workers test positive. But these solutions, paired with Texas municipalities’ general recognition of construction as an essential industry, have limited the extent to which public health concerns have pushed projects behind schedule and/or over budget. That’s according to design and construction panelists at the ninth annual InterFace Multifamily Texas conference. The two-day event was held virtually on Nov. 18-19. Rich Kelley, president of InterFace Conference Group, the division of Atlanta-based France Media that hosted the conference, moderated the panel. Conducting Daily Work The pivot to platforms such as Zoom and Microsoft …

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By Taylor Williams A severe shortage of affordable housing that has been building for years and may soon be exacerbated by the expiration of the federal eviction moratorium is forcing developers to be more aggressive and innovative in terms of how they add much-needed supply in dense, high-growth markets. According to a 2020 report by the National Low Income Housing Coalition, when it comes to housing that American renters whose incomes levels are at or below 30 percent of their area median income (AMI) can afford, the United States comes up about 7 million units short. On average, for every 100 extremely low-income renter households in the country, there are only 36 affordable housing units. In addition, there is considerable overlap between renters whose incomes dictate that they seek housing that has been designated as affordable or workforce and industries that have been hard hit by COVID-19, most commonly the retail and hospitality sectors. The federal mandate that prohibits evicting renters who cannot pay rent due to COVID-related job losses has served to keep units occupied and the supply-demand imbalance from worsening — for the time being. Rental collection rates for affordable housing properties have not fluctuated much during prime …

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HOUSTON — Houston-based American Liberty Hospitality is nearing completion of a 319-room hotel in its hometown that will feature dual brands from InterContinental Hotels Group (IHG). Located at 2351 W. Loop S. in the city’s Galleria district, the 14-story building will house a 169-room Holiday Inn Express and a 150-room Staybridge Suites. Shared amenities will include meeting and event space, a grab-and-go retail outlet, outdoor pool, fitness center, business center, dog run and complimentary breakfast. The development team expects to debut the dual-branded hotel in February 2021.

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DALLAS — CBRE has negotiated the sale of Bella Vista Apartments, a 272-unit multifamily community located at 3402 S. Buckner Blvd. in East Dallas. Built between 1985 and 1987, the property features one- and two-bedroom units and amenities such as a pool, business center and a resident clubhouse. Austin-based GVA Management purchased the property from Canada-based AmeriCan Multifamily Alliance Group for an undisclosed price. Chris Deuillet, William Hubbard, Jeff Kunitz and Mike Canori of CBRE brokered the deal. GVA Management plans to rehabilitate the property, which was 93 percent occupied at the time of sale.

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LEANDER, TEXAS — Austin-based Impact Developers has completed Hermosa Village Apartments, a 238-unit multifamily community located in the northern Austin metro of Leander. Designed by Humphreys & Partners and built by Cadence McShane Construction, the property offers one-, two- and three-bedroom units ranging in size from 684 to 1,450 square feet. Units are furnished with custom European cabinetry, quartz countertops, stainless steel appliances, individual washers and dryers and private patios. Amenities include a pool, fitness center, outdoor game space and a dog park. Clay Akiwinzie of Berkadia, secured a loan through La Salle on behalf of California-based Bridge Partners for the acquisition of Hermosa Village.

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SAN ANTONIO — KeyBank has provided $54.4 million in financing for Kitty Hawk Flats, a 212-unit affordable housing development that will be located in San Antonio. The financing consisted of a $23.5 million low-income housing tax credit (LIHTC) construction loan, a $7.4 million bridge loan and a $23.5 million fixed-rate Freddie Mac loan. Kitty Hawk Flats will comprise six one-bedroom, 70 two-bedroom, 100 three-bedroom and 36 four-bedroom units, with units reserved for renters earning between 30 and 70 percent of the area median income. The borrower was The NRP Group. Construction is expected to be complete by March 2022. Kyle Kolesar and Robbie Lynn of KeyBank originated the transaction.

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PONDER, TEXAS — Henry S. Miller Brokerage has arranged the sale of a 100,000-square-foot industrial building and 23.2 acres at 100 E. FM 2449 in Ponder, located north of Fort Worth and west of Denton. Dan Spika of Henry S. Miller represented the seller, Dallas-based Ponder Property LLC, in the transaction. The buyer was Ferti Management Corp., a Canadian producer of fertilizers. The sales price was not disclosed.

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EAST ORANGE, N.J. — Colliers International has arranged the $94 million sale of Norman Towers, a Section 8 seniors housing project located in the Newark suburb of East Orange. The 405-unit property has not been renovated since its original construction in 1980. Colliers represented the seller, Squiretown Properties LLC, in the transaction. The buyer was a partnership between Community Preservation Partners and L+M Development Partners. The property’s affordability status, which was set to expire in 10 years, has now been extended for 30 years as part of the purchase agreement. The Section 8 program is named for Section 8 of the United States Housing Act of 1937. It is more commonly known today as the Housing Choice Voucher Program, which is funded by the Department of Housing and Urban Development. Low-income residents apply to qualify for a rent assistance voucher.

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ROCHELLE PARK, N.J. — Dallas-based design/build firm ARCO/Murray has completed a 1,100-unit self-storage project in Rochelle Park, about 25 miles northwest of New York City. The 120,000-square-foot property features a 2,800-square-foot office and an interior loading dock. ARCO/Murray provided a complete design-build solution, including architectural and engineering design, permitting, construction and final equipment. Quinlan Development Group developed the project.

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MANTUA TOWNSHIP, N.J. — Mantua Partners LLC and North Bridge Properties will develop a 10-acre medical office and retail project in Mantua Township, located outside Philadelphia in Southern New Jersey. Branded as Mantua Shopping Center & Medical Complex, the property will consist of approximately 77,500 square feet of medical office space and 18,000 square feet of retail space. Construction is scheduled to begin next spring and to be complete in the spring or summer of 2022. Soloff Realty & Development has been tapped to lease the project.

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