As the student housing sector readies for a new generation of students to enter campuses — Generation Alpha — a few of the ‘tried and true’ amenity spaces that were hot with millennials or Gen Z have fallen by the wayside. Golf simulators, movie theaters and bohemian styling with baskets and lots of greenery are just a few of the once popular design choices that are now on the outs, according to Lucy Harrison, brand marketing manager with SouthPark Interiors. Gone, too, are the days of designing one ‘Instagramable’ moment for your building and calling it a day, says Chelsea Kloss, executive vice president of design and curation with LV Collective. “Students want to live in a building that is beautiful and inspiring from all angles — not just with one space built for ‘the gram,’” she says. “They want not only to capture more organic content to share, but to experience it real-time. As designers, that challenges us to push the envelope on experiential design and the importance of finishing all aspects of a built environment.” Students’ desires for their fitness and wellness spaces have also seen a shift over the past few years, according to Kloss. “Designing …
Multifamily
Crescent Communities Breaks Ground on 309-Unit Multifamily Community in Murfreesboro, Tennessee
by John Nelson
MURFREESBORO, TENN. — Crescent Communities has broken ground on RENDER Manchester Farm, a 309-unit apartment community located on a 35-acre farm in the Middle Tennessee city of Murfreesboro. The Charlotte-based developer expects to open first units in summer 2026. Situated 30 miles south of Nashville, RENDER Manchester Farm will feature a mix of one-, two- and three-bedroom units, as well as rural-centric amenities including a functioning farm, garden, fully stocked toolshed and a clubhouse with a front porch and swings. Other amenities will include a pool area with a smoker, fire pit and picnic tables, as well as a dog park and a fitness center with a yoga studio. The design-build team includes Crescent Communities Construction, Dwell Design Studio, Edge and Huddleston-Steele Engineering. Capital partners include ParkProperty Capital, BOK Financial and Cadence Bank.
FORT MYERS, FLA. — Encore Multifamily, a division of Dallas-based Encore Enterprises, has obtained a $48.7 million HUD 221(d)(4) loan for the construction of a new apartment development in Fort Myers. The project, known as Encore Daniel Falls, will comprise 240 Class A apartments and be situated on 6.7 acres near I-75 and South Florida International Airport. Encore Multifamily broke ground on the development in December and expects to deliver the community by third-quarter 2026. Upon completion, Encore Daniels Falls will feature studio, one-, two- and three-bedroom units, as well as a clubhouse, fitness center, business center, pool, dog park and a 24-hour package room.
Marcus & Millichap Brokers $20.1M Sale of Airport Place Apartments in Clarksville, Tennessee
by John Nelson
CLARKSVILLE, TENN. — Marcus & Millichap has brokered the $20.1 million sale of Airport Place Apartments, a 121-unit multifamily community located on an eight-acre site near Clarksville Regional Airport and Fort Campbell. Charlie Smith of Marcus & Millichap procured the buyer, Mastermind Multifamily Investments, in the transaction. Gloria Gregory of Marcus & Millichap’s Knoxville office represented the seller, Todd Morris of Morris Properties. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee for the deal. Built in 2023, Airport Place features onsite property management and units include smart security systems, eat-in kitchens, washers and dryers and walk-in closets.
BERKELEY, CALIF. — Gilbane Development Co. has broken ground on Pique, a 485-bed student housing project located at 2587 Telegraph Ave. near the University of California (UC) Berkeley campus. The eight-story community will offer 52 units with bed-to-bath parity. Shared amenities will include an indoor and outdoor fitness center and yoga studio, outdoor study space, a cabana area, two rooftop decks, a coworking lounge, smart food lockers, private study pods and 2,900 square feet of ground-floor retail space. The project will begin leasing in fall 2025 with occupancy scheduled for summer 2026. The development site was formerly occupied by retailer Buffalo Exchange. “We are focused on making every inch count with efficiency, privacy and functionality at the core of the design, driving innovation that caters to the needs of Berkeley students at an affordable price point,” says Christian Cerria, development director with Gilbane.
VINELAND, N.J. — New Jersey-based brokerage firm The Kislak Co. Inc. has negotiated the $12 million sale of Park Towne Apartments, a 108-unit multifamily complex located outside of Philadelphia in Vineland. Built in 1952, Park Towne Apartments comprises 63 one-bedroom units, 36 two-bedroom units, two two-bedroom units with terraces and a rental office. Joni Sweetwood of Kislak represented the seller and procured the buyer, both of which were limited liability companies, in the transaction. Park Towne Apartments was fully occupied at the time of sale.
NEW YORK CITY — Merchants Capital has provided $129.1 million in financing for the renovation of three affordable housing developments located on the east side of The Bronx borough in New York City. The renovations will total $419.6 million, according to Merchants Capital. Comprising 952 units across six residential buildings, the properties include Boston Road Plaza, Boston Secor and Middletown Plaza. The New York City Housing Authority (NYCHA), the largest public housing authority in North America, owns and manages the trio of affordable housing communities. Merchants Capital provided a New York Housing Development Corp. (NYHDC) Freddie Mac Risk Share loan under the Permanent Affordability Commitment Together (PACT) program. The properties will transition to the U.S. Department of Housing and Urban Development (HUD) Section 8 program as part of HUD’s Rental Assistance Demonstration (RAD) conversion platform. The Bronx Revitalization Collaborative (BRC), a joint venture between Beacon Communities, Kalel Cos. and MBD Community Housing Corp., is leading renovations at the properties in partnership with NYCHA. Renovations will include upgrades to interiors, exteriors and shared spaces; bathroom and kitchen improvements; new doors, flooring and paint; new roofs; modernized elevators; complimentary Wi-Fi; and upgrades to the HVAC and plumbing systems. Repairs are currently underway …
MIAMI BEACH, FLA. — A joint venture between Mast Capital and a controlled affiliate of Starwood Capital Group has secured $390 million in construction financing for The Perigon Miami Beach, a 73-unit condominium development located at 5333 Collins Ave. in Miami Beach. Eldridge Real Estate Credit, a Greenwich, Conn.-based asset manager and holding company, provided the loan. “We are proud to partner with Mast Capital and Starwood Capital Group on The Perigon Miami Beach,” said Matthew Rosenfeld, a managing director at Eldridge Real Estate Credit. “This is a project that represents the exceptional, visionary real estate we seek to finance, and further underscores the continued growth and momentum of our business.” Located in the popular Mid-Beach neighborhood, The Perigon Miami Beach will offer two-, three- and four-bedroom residences ranging from 2,100 to 6,700 square feet, each featuring 10- to 12-foot wraparound balconies. The property will also offer eight private guest suites. Roughly 75 percent of the condos have been sold. The building will offer approximately 40,000 square feet of indoor and outdoor amenities. Planned community amenities include a pool with cabanas, spa with sauna, salon, fitness center, children’s playroom, screening room, wine room and a lobby lounge. Residents will also …
TERRELL, TEXAS — An affiliate of DPG Investments LLC, a family office, merchant banking and private capital advisory firm, has arranged $56.2 million in financing for a 1,036-unit manufactured housing project in Terrell, about 35 miles east of Dallas. The financing includes senior debt, mezzanine debt and preferred equity that will be used to both acquire and develop the property, which will be known as Post Oak. The borrower, is an affiliate of K8H Ventures, a metro Houston-based owner-operator of manufactured housing. Additional project details were not disclosed.
LeCesse Development, Broad Oak to Develop 252-Unit Apartment Community in Oviedo, Florida
by John Nelson
OVIEDO, FLA. — A partnership between LeCesse Development and Broad Oak Development plans to soon break ground on Broad Oak Oviedo, a 252-unit apartment development in the Central Florida city of Oviedo. The property will feature a mix of four-story, elevator-serviced buildings and carriage house buildings that also feature garages. Amenities will include a fitness center, game room, valet trash service, coworking space, golf simulator, infinity edge pool, dog park, recreational trail and an outdoor summer kitchen. The development will be situated near Oviedo Mall, Oviedo on the Park, the Cross Seminole Trail and FBC Mortgage Stadium, among other attractions. LeCesse and Broad Oak plan to deliver the community in summer 2026. The project team includes Slocum Platts Architects, Kimley-Horn, Dix.Hite+Partners, Beasley & Henley and Walker & Co. Synovus Bank is providing debt construction financing, and Marble Capital is investing preferred equity into the development.