Author

Lynn Peisner

Chris-Fields
Affordable HousingDevelopmentFinanceIndustry Voices

What Missouri’s Expanded Tax Credit Program Means for Rural Affordable Housing Development

by Lynn Peisner

By Chris Fields Historic tax credits have funded multifamily and affordable housing development in older buildings for decades. Missouri’s recent legislative changes have now expanded this funding source. Gov. Mike Kehoe signed HB3080 on July 13, 2026, restoring and expanding the state’s Historic Preservation Tax Credit program under a new name: the Missouri Historic, Rural Revitalization and Development Act. For developers working on adaptive reuse and historic rehabilitation projects, the changes are significant. The credit rate for qualifying rural projects, those located outside St. Louis and Kansas City, rises from …

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Vista-Ridge-Issaquah
FinanceInvestment SalesNewsWashingtonWestern

Mesa West Funds $27M Loan for Timberland Partners’ Acquisition of Metro Seattle Asset

by Lynn Peisner

ISSAQUAH, WASH. — Mesa West Capital has funded a $27 million acquisition loan for Timberlane Partner’s purchase of Vista Ridge, a 91-unit community in Issaquah, 17 miles southwest of Seattle. The seller was Vancouver, British Columbia-based Belkorp Holdings. The total acquisition cost was $37 million. Vista Ridge is an eight-building, garden-style community located at 201 Mountain Park Blvd. SW. Built in 1992, the property spans 7 acres and consists of two- and three-bedroom units with an average size of 1,106 square feet. Community amenities include a fitness center, covered parking, …

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7 Hartwell-Lexington
DevelopmentFinanceMassachusettsNewsNortheast

Dinosaur Capital Partners Receives $45.8M Loan for Metro Boston Development

by Lynn Peisner

LEXINGTON, MASS. — Boston-based Dinosaur Capital Partners has obtained a $45.8 million construction loan to build 7 Hartwell Avenue, a 130-unit, ground up project in the Boston suburb of Lexington. JLL’s Anthony Cutone, Madeline Joyce, Michael Schwarze and Joe Marinaro arranged the loan through Affinius Capital. Slated for completion in June 2028, 7 Hartwell Avenue will consist of a five-story community featuring studios, one-, two- and three-bedroom units, including 20 affordable units. Rent restrictions were not disclosed. The development also will include 132 parking spaces, a courtyard with grilling stations, …

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The-Emerald-Centerton
ArkansasDevelopmentNewsSoutheast

Capstone Building Corp., EYC and Kalikow Break Ground on $45.1M Project in Northwest Arkansas

by Lynn Peisner

CENTERTON, ARK. — Capstone Building Corp., a multifamily general contractor headquartered in Birmingham, Alabama, has begun construction of The Emerald, a 256-unit community in Centerton in Northwest Arkansas, about 5 miles west of Bentonville. Westbury, New York-based The Kalikow Group and EYC Cos., headquartered in Charleston, South Carolina, are the developers behind the $45.1 million project. Located at the intersection of E. Centerton Blvd. and Womack Road, The Emerald will encompass 312,414 square feet and feature 256 units across nine residential buildings, along with a clubhouse. S. Robert Andron is …

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Alta-Thoreau-Concord
Affordable HousingDevelopmentMassachusettsNewsNortheast

Wood Partners Breaks Ground on Alta Thoreau in Concord, Massachusetts

by Lynn Peisner

CONCORD, MASS. — Atlanta-based Wood Partners has broken ground on Alta Thoreau, a 237-unit community in Concord, approximately 20 miles northwest of Boston. Units will be offered as one-, two- or three-bedroom floor plans across two five-story residential buildings. Amenities include Pilates and yoga studios, a golf simulator, tavern-style lounge, coworking spaces, a pool, fire pits, a pet spa and a dog park. Alta Thoreau will be Wood Partners’ first Passive House-designed community in Massachusetts, a designation for buildings that use reduced energy. Features include porous pavement, a more sustainable …

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Tremont-Street-Catalina
Affordable HousingCaliforniaInvestment SalesNewsWestern

Marcus & Millichap Arranges $8.6M Sale on Santa Catalina Island

by Lynn Peisner

AVALON, CALIF. — Marcus & Millichap has arranged the sale of Tremont Street Apartments, a 62-unit affordable housing property in Avalon, the only incorporated city on Santa Catalina Island. The asset sold for approximately $8.6 million. The seller was a limited partnership known as Black Rose Catalina, and the buyer was Newport Beach, California-based Tailwind Investment Group. Arteen Zahiri and Tony Azzi, both members of the Azzi Group in Marcus & Millichap’s Los Angeles office, represented the seller and procured the buyer. The apartment community, built in 1983, operates under …

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The-Marc-Modesto
CaliforniaInvestment SalesNewsWestern

Investor Pays $26.6M for Central California Asset

by Lynn Peisner

MODESTO, CALIF. — The Mogharebi Group (TMG) has arranged the $26.6 million sale of The Marc at 1600, a 100-unit community in Modesto. The seller was San Francisco-based Tesseract Capital Group, and the buyer was an undisclosed family office. Located at 1600 Standiford Ave., the community consists of one- and two-bedroom units with an average size of 798 square feet. TMG’s team, representing the seller, was led by Otto Ozen, Brian Nakamura and Nazli Santana.

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141-Willoughby-Brooklyn-Northwind-New-York
DevelopmentFinanceNew YorkNewsNortheast

Northwind Group Provides $427M in Loans for Two Office-to-Residential Conversions in New York City

by Lynn Peisner

NEW YORK CITY — Northwind Group has provided $427 million in construction loans for two metro New York office-to-residential projects. The real estate private equity firm and debt fund manager funded a $208 million first mortgage construction loan for 141 Willoughby Street, a 24-story tower in Brooklyn. The borrowers/developers are Capstone Equities and BH3 Fund Advisors, who acquired the office property in 2025 and spent the past year in predevelopment planning for the building’s partial conversion to multifamily. Loan proceeds retired existing debt and will fund the redevelopment of 239 …

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Village-of-Pine-Hills-Orlando
Affordable HousingDevelopmentFloridaNewsSoutheast

Ability Housing Breaks Ground on $35.7M Orlando Affordable Housing Development

by Lynn Peisner

ORLANDO, FLA. — Ability Housing has broken ground on the 96-unit Village of Pine Hills in the northwest Orlando neighborhood of Pine Hills. The development is located on approximately 9 acres at 5121 North Pine Hills Road. Plans call for three three-story residential buildings comprising a mix of one-, two- and three-bedroom apartments with rent restrictions ranging from 22 to 60 percent of area median income. Amenities will include a community center with a computer lab, a library and flexible spaces for workshops, training and events. Residents also will have …

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Ray-Smith
Company NewsMarylandNewsNortheastPeople NewsWashington, D.C.

Enterprise Community Development Names Ray Smith Senior Vice President of Real Estate Development

by Lynn Peisner

SILVER SPRING, MD. — Enterprise Community Development, a Silver Spring-based nonprofit affordable housing owner and developer, has named Ray Smith senior vice president of real estate development. In this role, Smith will lead the organization’s affordable housing development efforts across Washington, D.C., and Maryland. Smith brings approximately 30 years of experience in multifamily development, real estate finance and affordable housing, with expertise in site acquisition, entitlement, design oversight, capital structuring and project execution. Before joining Enterprise Community Development, Smith held senior leadership positions with Legacy Partners, Madison Capital Group, The …

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