Development

Lewis-Apartments-Sacramento
Build-to-RentCaliforniaDevelopmentNewsWestern

Lewis Apartments Opens Independence in West Sacramento

by Lynn Peisner

WEST SACRAMENTO, CALF. — Lewis Apartments, the multifamily development and management arm of Upland, California-based Lewis Group of Cos., has completed and opened Independence, a 208-unit, rental townhome community in the Southport area of West Sacramento. The community comprises two- and three-bedroom units ranging from approximately 1,176 to 1,722 square feet, with private entrances, direct-access one- and two-car garages and private outdoor living spaces. Amenities include a heated pool and a hot tub area with cabanas, a 24-hour fitness center, pickleball courts, outdoor barbecue and gathering areas, a fire table, …

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Pennrose-Connecticut
Affordable HousingConnecticutDevelopmentNewsNortheast

Pennrose and Partners Open First Phase of Connecticut TOD Redevelopment

by Lynn Peisner

NAUGATUCK, CONN. — Pennrose and co-developer The Cloud Co., in partnership with the Borough of Naugatuck, have opened the first phase of Platform at Naugatuck, a mixed-income, transit-oriented development about 15 miles northwest of New Haven. According to the Connecticut Housing Finance Authority’s 2024 LIHTC application records, Phase I had a total development cost of approximately $25.1 million. Phase I includes 60 apartments and approximately 3,000 square feet of ground-floor retail space on a long-vacant site along Old Firehouse Road. The one- and two-bedroom units include a mix of market-rate …

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Paramus-Chapter-NJ
Affordable HousingDevelopmentFinanceNewsNortheast

PCCP Provides $163.9M Construction Loan for The Paramus Chapter in New Jersey

by Lynn Peisner

PARAMUS, N.J. — A joint venture between Russo Development and Kushner Real Estate has secured a $163.9 million senior construction loan from PCCP for The Paramus Chapter. Construction of the two-building, 426-unit project began in July. Cushman & Wakefield arranged the loan. Building A will include 166 apartments, comprising 148 market-rate and 18 affordable units, and 5,300 square feet of ground-floor retail. An outdoor pool, a 2,200-square-foot fitness center, game room, theater, karaoke lounge, sports simulator, rentable party room, dog run and 3,400 square feet of coworking space round out …

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Waterfair-Wauwatosa
Affordable HousingDevelopmentMidwestNewsWisconsin

Samapa Development Completes $23M Hotel Conversion in Metro Milwaukee

by Lynn Peisner

WAUWATOSA, WIS. — Brookfield, Wisconsin-based Samapa Development, has completed Waterfair Apartments in Wautosa. The 146-unit, eight-story project was formerly a 198-unit Sonesta Hotel with convention space. Kraus Anderson served as general contractor, and Continuum Architects + Planners was the architect. The Milwaukee Business Journal reports the development cost was approximately $23 million. While not a traditional affordable housing development backed by tax credits, Waterfair offers apartments that are 15 to 20 percent below area asking rents. Samapa says efficiencies gained from the existing concrete structure and mechanical, electrical and plumbing …

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Joyfield-Towns-at-German-School-Richmond
Affordable HousingDevelopmentNewsSoutheastVirginia

Standard Communities Breaks Ground on $88M Affordable Housing Development in Richmond, Virginia

by Lynn Peisner

RICHMOND, VA. — Standard Communities has broken ground on Joyfield Towns at German School, an $88 million development that will include 234 affordable three- and four-bedroom townhomes. The development is located at 250 E. German School Road in the Southside area of Richmond, Virginia. The project takes the latter part of its name from German School Road, which was named for a small school that served the area’s German immigrant community in the early 20th century. All units will be income-restricted, including 62 units for households earning up to 50 …

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Ira-D-Hall-Sunnyvale
Affordable HousingCaliforniaDevelopmentNewsWestern

MidPen Housing Completes Ira D. Hall Square in Silicon Valley

by Lynn Peisner

SUNNYVALE, CALIF. — MidPen Housing has completed and opened Ira D. Hall Square in Sunnyvale. The 176-unit property comprises studios, one-, two- and three-bedroom units that are reserved for residents earning up to 30 to 70 percent of area median income, which is approximately $43,170 to $100,730 for a one-person household. Ira D. Hall Square is adjacent to the Lawrence Caltrain Station and is the first development built under the city’s Lawrence Station Area Plan, which calls for a mixed-use district around the transit hub. MidPen Property Management manages the …

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2185-Coyle-Street-Brooklyn
Affordable HousingDevelopmentInvestment SalesNew YorkNewsNortheast

Gilbane Buys Development Site in Brooklyn for $37M

by Lynn Peisner

BROOKLYN, N.Y. — Gilbane Development has acquired a mixed-use development site at 2185 Coyle St. in the Sheepshead Bay neighborhood of Brooklyn for $37 million. The 96,000-square-foot lot can support 408,400 square feet of commercial space. The seller was a joint venture between AAG Management and ABS Partners. Ariel Property Advisors, led by Victor Sozio, Michael A. Tortorici, Sean R. Kelly, Shimon Shkury and Remi Mandell, arranged the sale. Gilbane is planning an affordable housing project on the site. Details on this upcoming project have not been disclosed. Gilbane, in …

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Villas-at-Viera-Florida
Build-to-RentDevelopmentFloridaNewsSoutheast

Capstone, CBI Break Ground on Build-to-Rent Development in Viera, Florida

by Lynn Peisner

MELBOURNE, FLA. — Capstone Communities has secured financing and begun construction of The Villas at Viera, a 275-unit build-to-rent development in the master-planned Viera community in Brevard County, about 50 miles southeast of Orlando. Capstone Communities is the developer, and CBI Construction is the general contractor. Capstone Properties is overseeing property management. Fifth Dimension Architecture & Interiors is serving as project architect. Villas at Viera is situated on an 18.4-acre parcel and will comprise two four-story apartment buildings, duplexes, carriage houses and cottage-style residences. Amenities will include a clubhouse and …

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The-Waylon-Austin
Architecture & DesignDevelopmentNewsTexas

KTGY, Riverside Open The Waylon in North Austin

by Lynn Peisner

AUSTIN, TEXAS — Architect KTGY and locally based developer Riverside have completed and opened The Waylon, a 300-unit, five-story community in North Austin. The interior designer was Vida Design and Nudge Design was the landscape architect. Amenities include a pool, sky lounge and deck, coworking space, a fitness center with a yoga room and a dog run. The property was developed on a former surface parking lot for an exisiting office property. KTGY is headquartered in Irvine, California and operates offices throughout the United States.

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Central-at-the-Horizon-Fargo
Affordable HousingDevelopmentMidwestNewsNorth Dakota

The Annex Group to Develop Affordable Housing Community in Fargo, North Dakota

by Lynn Peisner

FARGO, N.D. — The Annex Group has announced plans for Central at the Horizon, a ground-up affordable housing development at 11 12th St. North in Fargo. The 262 one-, two- and three-bedroom units will be reserved for households earning up to 60 percent of area median income. Central at the Horizon will consist of four stories above a one-story parking garage. Amenities will include community, fitness and business centers, a playground and a picnic area. The architect is BVH Architecture. Multiple stakeholders are funding the project. The North Dakota Housing …

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