BOSTON — Nauset Construction has completed Phase II of The Conrad, a project in downtown Boston that is a multifamily conversion of the former Conrad & Chandler’s department store. Designed by Schopf Design Associates (Phase I) and Golden Architects (Phase II) and owned by 3MJ Realty, The Conrad comprises 36 residential units and 7,000 square feet of retail space. Phase II included constructing four one-bedroom and five two-bedroom units on the second floor, renovating the first-floor retail space; installing a new roofing system, upgrading the elevator cab and replacing existing windows.
PLEASANT PRAIRIE, WIS. — Bond Cos. has broken ground on Inspire Prairie Springs in Pleasant Prairie. The first phase of the multifamily project, set to be completed in early 2027, will consist of 332 units across three buildings as well as an amenity clubhouse. The three-story, garden-style buildings will feature a mix of studio, one-, two- and three-bedroom layouts ranging from 500 to 1,405 square feet. Each building will include a lobby amenity suite with a lounge, coworking space, package room, bicycle room and resident storage. An additional third-floor resident lounge will include communal seating, a wet bar and outdoor patio. Clubhouse amenities will include a fitness center, golf simulator, coworking space, resident lounge and dog wash facility. A party room will feature Table Tap technology, a self-pour beverage system. The community will also feature an outdoor pool, pickleball courts, a putting green, outdoor fitness space, dog park, playground, recreation trail, cabanas, fire pits, grilling stations and a car care station. The project team includes RINKA as architect and Stevens Construction Corp. as general contractor. A second phase of construction is planned for 378 units across five three-story buildings with another amenity clubhouse. When that phase is completed in 2028, …
NEW YORK CITY — Marcus & Millichap has brokered the $7 million sale of an 8,282-square-foot multifamily development site in Brooklyn’s Prospect Heights neighborhood. The site at 918 Atlantic Ave. currently houses a car wash and can support 59,630 buildable square feet as of right and up to 74,538 buildable square feet with inclusionary housing bonus. Andrew Bronsteen, Shaun Riney and Jason Farese of Marcus & Millichap represented the seller and procured the buyer, both of which were local private investors, in the transaction.
By Hayden Spiess DALLAS — Although tenant demand for active adult communities remains strong, the sector is not immune to escalating construction costs, labor shortages, tariffs and general economic uncertainty, say industry professionals. Teamwork across key disciplines can help make clearing those hurdles much easier. “We’re having a hard time getting things to pencil these days,” levels Erin Berry Harps, director of interior design at Direct Supply Aptura, a senior living design and construction firm. Simultaneously, residents are as price conscious as ever, she points out. “We also have increased consumer demand for affordability,” emphasizes Harps. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Harps’ assessment came during the 5th annual InterFace Active Adult conference, which was held Wednesday, May 7, at The Westin Las Colinas in Dallas. Harps moderated a panel titled “Architecture, Design & Construction Trends for Active Adult Projects” at the daylong event, which attracted more than 300 industry professionals. In addition to Harps, the panel discussion included Bill Foster, a partner with Lantz-Boggio Architects; Lisa Warnock, principal and founder of Glow Interior Designs; Jarrett Cooper, vice …
GRAND PRAIRIE, TEXAS — Locally based developer JPI has broken ground on Jefferson Kirbybrook, a 269-unit multifamily project in Grand Prairie, located roughly midway between Dallas and Fort Worth. Jefferson Kirbybrook will feature townhome-style residences in two- and three-bedroom floor plans with private yards and garages. Amenities will include a pool, clubhouse, fitness center, dog park and outdoor grilling areas. The first units are expected to be available for occupancy in early 2026.
DURHAM, N.C. — Woods Partners has broken ground on Alta Bethpage, a 336-unit multifamily community in Durham. The development is slated for completion in the first quarter of 2027. Situated between Research Triangle Park and Brier Creek, the project will offer one-, two- and three-bedroom floorplans. Amenities at the property will include a swimming pool, clubhouse, pet spa, disc golf course, walking trails and two dog parks. Alta Bethpage will be Wood Partners’ fourth project to commence construction in Durham in recent years.
Cushman & Wakefield | Thalhimer Arranges $8.9M Sale of The View at 777 Apartments in Salem, Virginia
SALEM, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the $8.9 million sale of The View at 777, a 72-unit multifamily community located in Salem. Situated at 777 Roanoke Blvd., the complex offers one-, two- and three-bedroom floorplans ranging in size from 579 square feet to 979 square feet. Resident amenities at the property include a playground, grill, picnic area and a dog park. Clay Taylor of Thalhimer, in conjunction with Jorge Rosa and Anthony Liberto of Cushman & Wakefield’s Mid-Atlantic Advisory team, represented the seller, an entity doing business as Caroline Forest LLC, in the transaction. The buyer was an entity doing business as 777 Salem LLC.
NEW YORK CITY — JLL has arranged an $80 million loan for the refinancing of a 152-unit apartment building in Manhattan’s West Village neighborhood. The 10-story, freshly renovated building at 110 Horatio St. houses 87 studios, 42 one-bedroom residences,18 two-bedroom units and five penthouses. Amenities include a landscaped roof terrace, resident lounge, onsite laundry facility and a fitness center. Geoff Goldstein, Steven Klein and Chris Pratt of JLL arranged the 10-year, fixed-rate loan through investment manager AXA IM Alts on behalf of the borrower, an affiliate of Rockrose Development. The building was approximately 99 percent occupied at the time of the loan closing.
SEATTLE — A partnership between Kennedy Wilson, Kenedix Inc. and Hulic Co. has purchased The Danforth in Seattle for $173 million. Kennedy Wilson has a 10 percent interest, investing $6.6 million of equity in the core plus joint venture, and will serve as asset manager for the partnership and earn customary fees. Built in 2018, the 16-story tower features 265 one-, two- and three-bedroom layouts, a Studio Fit fitness center, rooftop solarium, dog run, a resident lounge with shuffleboard and media center, a full demonstration kitchen and barbecue patio with multiple grills. Additionally, Whole Foods Market occupies the ground-floor retail space.
PHOENIX — Northmarq has arranged a $68 million refinance of IMT Desert Ridge, an apartment property at 21155 N. 56th St. in Phoenix. Scott Botsford, Joe Giordani and Brendan Golding of Northmarq secured the permanent floating-rate financing for IMT Capital LLC through a correspondent life company relationship. Built in 2014, IMT Desert Ridge offers 370 one- and two-bedroom apartments with in-home washers/dryers, fully equipped kitchens, kitchen islands or breakfast bars, quartz countertops with tile backsplashes, walk-in closets, wood-style flooring, high ceilings, private patios or balconies and detached garages.