Development

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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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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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. For the first project, the real estate private equity firm and debt fund manager originated 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 finance …

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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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2121-Virginia-DC
Affordable HousingBerkadiaDevelopmentFinanceNewsNortheastWashington, D.C.

Carr Properties Obtains $92M for Office Conversion in D.C.’s Foggy Bottom

by Lynn Peisner

WASHINGTON, D.C. — Locally based Carr Properties is redeveloping a vacant office building at 2121 Virginia Ave. in Washington, D.C.’s Foggy Bottom neighborhood. Berkadia has arranged a $92 million construction loan through PNC Bank. Carr paid $23.5 million for the property in November 2025. The project was awarded a 20-year property tax abatement through D.C.’s Housing in Downtown program, an incentive aimed at encouraging commercial-to-residential conversions. Carr plans 30 affordable units as part of the roughly 300-unit project. Rent restrictions have not officially been disclosed, but they are expected to …

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Novel-Douglasville
DevelopmentGeorgiaNewsSoutheast

Crescent Communities Opens NOVEL Douglasville in Metro Atlanta

by Lynn Peisner

DOUGLASVILLE, GA. — Crescent Communities has opened NOVEL Douglasville, a 300-unit community 20 miles west of Atlanta in The Trails mixed-use development. NOVEL Douglasville consists of five four-story buildings with one-, two- and three-bedroom units. Amenities include a resort-style pool, grills, firepit, open-air event and game lawn, a clubroom with a TV and full kitchen, and a covered porch with an outdoor fireplace. Further features include a coffee cafe and coworking space, fitness center, dog park and dog-wash stations.

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Whitmore-Charleston
DevelopmentNewsSouth CarolinaSoutheast

Thompson Thrift Breaks Ground on First Project in South Carolina

by Lynn Peisner

NORTH CHARLESTON, S.C. — Thompson Thrift has broken ground on The Whitmore at Ingleside, situated within the 1,500-acre Ingleside master-planned community in North Charleston. The 327-unit project marks the Indiana-based developer’s first in South Carolina. The Whitmore at Ingleside site is approximately 19 acres. The community will include studio, one-, two- and three-bedroom floor plans and a resort-style pool, 24-hour fitness center, pickleball court, pocket park, electric firepit gathering areas, grilling stations, pet spa, two dog parks and a social lounge with billiards, coffee bar, focus suites, conference room and …

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Rushmark-West-Falls-VA
DevelopmentFinanceNewsNortheastWashington, D.C.

Rushmark Secures Financing for $136M Development Near Metro D.C. Commuter Station

by Lynn Peisner

FALLS CHURCH, VA. — Rushmark has secured financing to develop a $136 million apartment community in West Falls Church. FCP provided $22 million of preferred equity, and PNC contributed a $92 million senior construction loan. Patrick McGlohn, Brian Crivella, Yalda Ghamarian, Brian Gould, Bill Gribbin and Patrick Cunningham of Berkadia DC Metro led the transaction. Located at the corner of Falls Church Drive and West Falls Station Boulevard, the seven-story community will offer a mix of one- and two-bedroom apartments and such amenities as work-from-home spaces, a clubroom, speakeasy and …

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