Author

Channing Hamilton

Us Bayou Park's pool area, enclosed by the white multifamily building behind it.
DevelopmentNewsTexas

Vero Sade Completes Redevelopment of 15-Year-Old Houston Property

by Channing Hamilton

HOUSTON — Locally based developer Vero Sade has completed a renovation of the former City Vista property in Houston’s Allen Parkway corridor. The 404-unit community, originally developed in 2008, has been renamed Us Bayou Park, and Greystar has been appointment property manager. Us Bayou Park is currently 80 percent leased. Unfurnished units begin at approximately $1,700 per month. Furnished units are available for short-term stays.   Vero Sade completed physical as well as programmatic updates. The property’s club house was redeveloped into a 10,000-square-foot multipurpose space used for co-working and for …

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A 3D render of Sawyers Walk, a contemporary style apartment building.
Affordable HousingCompany NewsFloridaNewsSoutheast

Coastal Construction Group Launches South Florida Affordable Housing Division 

by Channing Hamilton

MIAMI — Coastal Construction Group, a Miami-based general contractor, has launched an affordable housing division that will focus on workforce, affordable and seniors affordable development projects in South Florida. Hernan Acurio was hired to lead the division. Coastal Construction’s past affordable-housing projects include Poinciana Village in Key West, Florida, and Oasis and Shepherd’s Court in Miami. The firm currently is building Sawyer’s Walk in Miami for The Swerdlow Group. Sawyer’s Walk is an 18-story mixed-use project with 578 rent-restricted studios and one- and two-bedroom apartments reserved for lower-income seniors.

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Affordable HousingDevelopmentNewsTexas

NHP Foundation Breaks Ground on $45 Million Houston Project for Homeless 

by Channing Hamilton

HOUSTON — The NHP Foundation (NHPF), a nonprofit affordable housing developer headquartered in New York City, is constructing RoseMary’s Place in Houston. RoseMary’s Place will offer 149 units for people experiencing homelessness. Funding for the $45 million project includes $18.7 million from the city of Houston Housing and Community Development Department, $10.2 million from Harris County Community Services Department, $13.6 million from the sale of tax credits to Hudson Housing and $2.4 million from Magnificat Houses Inc. (MHI) as a sponsor loan. Building features and resident services will include in-house …

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A 3D render of Canyon Ridge, a light brown and dark gray mid-rise building.
DevelopmentFinanceIdahoNewsWestern

Hawkins Cos. Secures $56 Million for Canyon Ridge in Boise, Idaho

by Channing Hamilton

BOISE, IDAHO — Hawkins Cos. will develop Canyon Ridge in Boise. Cushman & Wakefield has arranged $56 million in construction financing for the 287-unit project. Construction is expected to be complete in May 2025, with pre-leasing beginning in spring 2024. Dave Karson, Chris Moyer, Paul Roeter and Meredith Donova of Cushman & Wakefield represented Hawkins Cos. in the transaction. The lender was Sunwest Bank.  Canyon Ridge will comprise five mid-rise buildings. Amenities will include a pool, dog park, two playgrounds, coworking spaces, a fitness center and a clubhouse. Hawkins Cos. …

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Broadstone Sky, a blue and gray multifamily building with yellow accents built into a hill.
Investment SalesNewsWashingtonWestern

Green Leaf Capital Partners Acquires Broadstone Sky in Seattle

by Channing Hamilton

SEATTLE — Green Leaf Capital Partners has acquired Broadstone Sky in Seattle for an undisclosed amount. JLL Capital Markets arranged the sale and represented the undisclosed seller. The asset has 151 units in one- and two-bedroom floor plans and was built in 2016. Amenities include a 24-hour fitness center, a rooftop deck, a lounge, two outdoor barbecue areas and an on-site coffee and wine shop. JLL’s Investment Sales and Advisory Team included Senior Managing Directors David Young and Corey Marx, Senior Directors Chris Ross and Jordan Louie and Director Michael …

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San Paseo, a brown rectangular building with black roofing and a pool and courtyard at its center.
DevelopmentNewsTexas

Sueba USA To Develop San Paseo in Houston

by Channing Hamilton

HOUSTON — Sueba USA will develop San Paseo, a 292-unit, gated-community in Houston. Twenty of the units will be townhomes. San Paseo will be constructed next to two other Sueba USA-developed multifamily properties, San Tierra and San Remo. Southhampton Management Inc., an affiliate of Sueba USA, will manage the property, and pre-leasing is expected to begin in March 2024.  Apartments come in studio, one-, two- and three-bedroom floor plans and include features such as stainless steel appliances, granite countertops, wood-style flooring, in-unit washers and dryers and patios or balconies in some homes. …

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A 3D render of Sync on Canoga, a light brown and white, five-story multifamily building.
Affordable HousingCaliforniaDevelopmentNewsWestern

Alliant Strategic Development Breaks Ground on Four Affordable Housing Projects in Los Angeles

by Channing Hamilton

CANOGA PARK, VAN NUYS, NORTH HOLLYWOOD, CALIF. — Alliant Strategic Development has broken ground on four affordable housing properties in the San Fernando Valley area of Los Angeles. The properties, which include 727 total units, are Sync on Canoga, comprising 220 one-bedroom units in Canoga Park; Pendant on Topanga, consisting of 149 studios, one- and two-bedroom units also in Canoga Park; Vose, which will include 332 studio, one- and two-bedroom units in Van Nuys; and Cadence at Noho, consisting of 26 one- and two-bedroom units in North Hollywood. Of the …

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A 3D render of Alta Sunset heights. Some parts of the building are brown, some are white.
DevelopmentNewsTexas

Wood Partners Breaks Ground on Alta Sunset Heights in Houston

by Channing Hamilton

HOUSTON — National real estate developer Wood Partners has broken ground on Alta Sunset Heights in Houston. The community will be comprised of 378 one- and two-bedroom units. Delivery is estimated to be early next year. Pre-leasing will begin in December. Equity for the community was provided by EuroInvestor, which is Wood Partners’ German-based partner on the deal. Amenities include a pool, outdoor kitchen, dog park and a clubhouse with a fitness center, business center and entertainment spaces.

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Company NewsNewsPeople NewsTexas

Revere Capital Hires Will Bohannan as Director of Capital Markets

by Channing Hamilton

DALLAS — Revere Capital has hired Will Bohannan as director of capital markets. Bohannan comes to Revere Capital from Walton Global Holdings, where he served as senior vice president of national accounts. Prior to his career with Walton, Bohannan was senior vice president at ClickIPO, a finance brokerage based in Scottsdale, Arizona, and senior vice president at Torrey Capital, an investment consulting and marketing firm based in San Diego, California. Revere Capital is an institutional private credit manager based out of Dallas. In the fourth quarter of 2022, Revere Capital’s …

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Sahuarita Mission, a light brown hacienda style multifamily complex with red roofing.
Affordable HousingArizonaInvestment SalesWestern

Northmarq Brokers $8.8 Million Sale of Community in Green Valley, Arizona

by Channing Hamilton

GREEN VALLEY, ARIZ. — FSO Capital Partners has sold Sahuarita Mission in Green Valley to WNC Apartment Ventures for $8.8 million. Northmarq arranged the sale. The 52-unit property was developed as affordable housing in 2000. Today, five units are leasing at affordable rates, reserved for renters earning at or below 50 to 60 percent of area median income (AMI). These rent restrictions are in place until July 2030. WNC Apartment Ventures is an affordable housing real estate investment firm based in Cypress, California. Sahuarita Mission is located approximately 25 miles …

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