Author

Lynn Peisner

Coasterra-Apartments-Fort-Lauderdale-FL
DevelopmentFloridaNewsSoutheast

Fairfield Delivers Two Fort Lauderdale Developments

by Lynn Peisner

FORT LAUDERDALE, FLA. — Fairfield, a multifamily developer and owner based in San Diego, has completed construction of Coasterra Apartments in downtown Fort Lauderdale. The mid-rise community has 242 studio, one-, and two-bedroom apartments. Located at 150 SE 3rd Ave. in the Las Olas district, the community is adjacent to the One Financial Plaza office building. Fairfield also recently completed construction of Treo Apartments at 6500 N. Andrews Ave. in Fort Lauderdale. Treo has 295 units also offered as studios, one- or two-bedroom units.  

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Artistry-Design-District
DevelopmentNewsTexas

McGrath Real Estate Partners Opens Houston Artistry

by Lynn Peisner

HOUSTON — Houston-based McGrath Real Estate Partners has completed and opened Artistry Design District, a 400-unit property in Houston’s design district, an area known for high-end furnishing shops and interior design offices. The Artistry is 57 percent leased. Amenities include a clubhouse with a fitness center, resident lounges, a gourmet kitchen, flexible coworking spaces, Wi-Fi lounge and private office space. The community also features a resort-style pool, green spaces and an event venue for live music and entertainment.

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Sam Adams, KeyBanc Capital Markets
Affordable HousingFinanceIndustry Voices

How Affordable Housing Developers Are Closing Budget Gaps to Get Deals Done

by Lynn Peisner

By Sam Adams The need for affordable housing in the United States has never been greater, but supply is not keeping up with demand. High costs of construction and insurance, as well as elevated interest rates, make it difficult to get affordable housing development deals completed in the current environment. As a result, developers and finance leaders are looking for innovative strategies to close budget gaps and get deals done. Financial market conditions are likely to persist for the foreseeable future. However, with the right knowledge, persistence and a little …

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Richmond-Towers-
Affordable HousingDevelopmentNew JerseyNewsNortheast

WinnDevelopment Selected to Renovate Two Public Housing Properties in Plainfield, New Jersey

by Lynn Peisner

PLAINFIELD, N.J. — The Housing Authority of Plainfield has selected WinnDevelopment to redevelop Richmond Towers and Joanne Hollis Gardens, two affordable housing properties in Plainfield. The project will modernize the communities. Richmond Towers was built in 1972 and features two 12-story towers housing 135 studio apartments and 90 one-bedroom apartments. Built in 1954 as West End Gardens, Joanne Hollis Gardens was rededicated in 2015 to posthumously honor Joanne Hollis, a longtime resident who served as a Plainfield housing commissioner and city councilwoman. The two-story, garden-style complex offers 16 one-bedroom, 66 …

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Birchstone-Waterleigh
FloridaInvestment SalesNewsSoutheast

Pearlmark and Ashcroft Acquire Orlando-Area Property

by Lynn Peisner

WINTER GARDEN, FLA. — Pearlmark and Ashcroft Capital have closed on a joint-venture acquisition of Birchstone Waterleigh, a 300-unit property in the Horizon West master-planned community near Winter Garden. The asset was built in 2023. It will be managed by Birchstone Residential, Ashcroft’s in-house property management and construction management company. The sales price was undisclosed. The seller was DHI Residential. Birchstone Waterleigh, formerly known as Ascend Waterleigh Club, offers one-, two- and three-bedroom units. Amenities include a resort-style, saltwater pool with a poolside pavilion that has a wet bar and …

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Eastpointe-Commons-Jonathan-Thrasher
Affordable HousingDevelopmentMichiganMidwestNews

Eastpointe Commons Redevelopment Opens in Grand Rapids

by Lynn Peisner

GRAND RAPIDS, MICH. — Eastpointe Commons, Hope Network’s $40 million redevelopment of an affordable housing complex in Grand Rapids, held its grand opening May 20. The 118-unit community now is 100 percent occupied. Located at 1460 E. Fulton St., Eastpointe Commons includes 79 one-bedroom units, 34 two-bedroom units and five three-bedroom units, catering to a variety of income levels. Construction and renovation of the former Fulton Manor property began in June 2023, led by DeStigter Architecture and Pioneer Construction. Financing sources for the project include UnitedHealth Group, which provided a …

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Urbana in Seattle
Investment SalesNewsWashingtonWestern

Equity Residential Sells Seattle Asset to Carmel Partners

by Lynn Peisner

SEATTLE — Institutional Property Advisors (IPA) has arranged the sale of and financing for Urbana, a 289-unit, seven-story asset with 29,884 square feet of street-level retail in Seattle. IPA’s Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino represented the seller, Equity Residential and procured the buyer, Carmel Partners. The sales price was not disclosed, but local media reported it traded for approximately $121 million. Built in 2014, the LEED Gold-certified Urbana has two rooftop decks, a resident lounge with a theater, a dog run and pet spa, …

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Williams_Ranch_Vista
DevelopmentNewsTexas

Vista Residential Breaks Ground on First Project in Texas

by Lynn Peisner

RICHMOND, TEXAS — Vista Residential Partners has broken ground on Williams Ranch Vista, a 375-unit project adjacent to Williams Ranch, which is the site of several residential developments in Richmond. The 18.2-acre parcel is located along the I-69 corridor in Fort Bend County and is approximately 21 miles from downtown Houston. A construction timeline was not disclosed. Williams Ranch Vista will offer a mix of one- and two-bedroom units. Interior finishes will include granite countertops in the kitchen and bath areas, stainless steel appliances, subway-tile backsplashes, wood-like flooring, tiled showers …

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Grandview in Escondido
CaliforniaInvestment SalesNewsWestern

Newmark Arranges Sale of Grandview in Escondido, California

by Lynn Peisner

ESCONDIDO, CALIF. — La Caze Development has sold Grandview Escondido, a 13,421-square-foot, 15-unit property located at 1316 E. Grand Avenue in Escondido, which is 30 miles north of San Diego. The sales price was $7.2 million, and the buyer was identified as a local high-net-worth individual, who was represented by Andy Brikho of Brik Home Loans. Newmark arranged the sale, with Senior Managing Director Erik Anderson and Associate Tanner Harris representing La Caze in the deal. Grandview Escondido was developed in 2023 and was fully occupied at the time of …

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Pfizer conversion rendering
Affordable HousingDevelopmentNew YorkNewsNortheast

IPA Arranges $720 Million Loan to Convert Manhattan Pfizer HQ to Apartments

by Lynn Peisner

NEW YORK CITY — IPA Capital Markets has closed a $720 million construction loan for a joint venture between Metro Loft Developers and David Werner Real Estate Investments for the development and conversion of the former Pfizer headquarters consisting of two adjacent and connected office buildings. According to media outlets, Metro Loft and David Werner also secured a $135 million acquisition loan earlier this year. The buildings are located at 219 and 235 East 42nd St. in the Midtown East neighborhood of Manhattan. Upon completion, the property will include 1,602 …

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