Development

Coppertree-Village-Houston
Affordable HousingDevelopmentNewsTexas

Fairstead Completes $26M Renovation of Coppertree Village in Houston

by Lynn Peisner

HOUSTON — Fairstead, a New York City-based affordable housing developer, has completed the $26 million renovation of Coppertree Village, a 324-unit affordable housing community in the Acres Homes neighborhood of northwest Houston. Fairstead’s renovations included new kitchen cabinetry, countertops and energy-efficient appliances; upgraded bathrooms with new plumbing fixtures; a new outdoor playground; and perimeter fencing and controlled access. Units are rent restricted to 50 and 60 percent of area median income. Coppertree Village was originally developed in the early 1970s.

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lummus-parc-miami
Affordable HousingDevelopmentFinanceFloridaNewsSoutheast

Greystone Provides $167M in Financing for Gallery at Lummus Parc in Miami

by Lynn Peisner

MIAMI — Greystone has provided and arranged $167 million in construction financing, Low-Income Housing Tax Credit (LIHTC) equity and permanent financing for Gallery at Lummus Parc, a 257-unit mixed-income project in downtown Miami. Locally based Related Urban Development Group is the developer. Construction is underway, and completion is slated for late 2028. Gallery at Lummus Parc is the 257-unit, 27-story first phase of a planned two-tower, 439-unit development. A second 182-unit tower, Residences at Lummus Parc, is planned as a separate phase. Greystone’s $167 million financing package applies to the …

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Springs-at-Opelika-Alabama
AlabamaDevelopmentNewsSoutheast

McShane, Continental Break Ground on 252-Unit Alabama Development

by Lynn Peisner

OPELIKA, ALA. — McShane Construction Co. and developer Continental Properties have broken ground on Springs at Opelika, a 252-unit garden-style community in Opelika, about 27 miles northwest of Columbus, Georgia. The project is positioned on a 13.5-acre site at 3305 Gateway Springs Drive and will comprise seven three-story apartment buildings offering studio, one-, two- and three-bedroom units. Amenities include a pool with covered patio seating, grills, a fire pit, an indoor-outdoor fitness center, a pet park and car-care center. Excel Engineering Inc. is the architect, and BSI is the civil …

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The-Albert-Saint-Paul
DevelopmentMidwestMinnesotaNews

Ryan Opens 97-Unit The Albert, Civic Square at St. Paul Ford Site

by Lynn Peisner

SAINT PAUL, MINN. — Locally based Ryan Cos. has opened The Albert and adjacent Civic Square — an open-air plaza — within Highland Bridge, the 122-acre redevelopment of the former Ford Motor Co. Twin Cities Assembly Plant site in St. Paul. The Albert is part of a $68 million mixed-use phase that also includes retail buildings, a daycare center and structured parking. The east side of The Albert incorporates a reconstructed portion of the historic 1920s assembly plant facade, originally designed by architect Albert Kahn, for whom The Albert is …

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The-Exchange-Salem
Affordable HousingDevelopmentMassachusettsNewsNortheast

WinnDevelopment Secures Financing for $48M Massachusetts Affordable Housing Development

by Lynn Peisner

SALEM, MASS. — WinnDevelopment has secured financing for a 115-unit, $48 million mixed-income community in Salem. The Exchange Salem will be a transit-oriented project, built adjacent to Salem’s Massachusetts Bay Transportation Authority (MBTA) commuter rail station. The seven-story ground-up development is being erected on the site of a former municipal parking lot overlooking the mass transit station and parking garage. The Exchange will comprise studios, one- and two-bedroom apartments, about half of which will be affordable to renters earning up to 60 percent of area median income (AMI). Remaining units …

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The-Adeline-Ann-Arbor
Affordable HousingDevelopmentMichiganMidwestNews

Related Midwest Breaks Ground on $220M Affordable Housing Redevelopment in Ann Arbor, Michigan

by Lynn Peisner

ANN ARBOR, MICH. — Related Midwest, the Chicago office of Related Cos., and the Ann Arbor Housing Commission have broken ground on The Adeline, a 20-story, 330-unit affordable housing community in downtown Ann Arbor. The project cost was listed as $220 million when digital news group MLive reported the city’s approval of the development in October 2025. Most units are reserved for households earning up to 80 percent of area median income (AMI). About one-third of the apartments will be reserved for households earning 30 percent or less of AMI. …

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The-Alexandria-Kansas-City
Affordable HousingDevelopmentFinanceMidwestMissouriNews

Joint Venture Team Secures $17.1M in Financing for Kansas City Affordable Housing Rehab

by Lynn Peisner

KANSAS CITY, MO. — Hunt Capital Partners, in partnership with Riverstone Platform Partners and Kansas City Metropolitan Lutheran Ministry (MLM), have secured $17.1 million in financing for the rehabilitation of The Alexandria, an affordable housing property at 1328 E. Armour Blvd. in Kansas City, Missouri. Riverstone Platform Partners will serve as lead developer, and MLM will serve as co-developer. The project encompasses 55 new units in two four-story buildings originally constructed separately in 1923 and later connected with a shared elevator and lobby system serving all four levels. The community …

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Arbor-South-Ann-Arbor
Affordable HousingDevelopmentMichiganMidwestNews

Michigan Approves $651M Ann Arbor Mixed-Income Project

by Lynn Peisner

ANN ARBOR, MICH. — Oxford Cos. and Crawford Hoying have received final approval from the Michigan Strategic Fund Board for Arbor South, a mixed-use redevelopment project covering approximately 20 acres on the south side of Ann Arbor. The project cost is estimated at $651 million. Arbor South, a brownfield development, is expected to include 1,069 residential units and encompass more than 2.2 million square feet. Plans call for predominantly rental apartments as well as a small for-sale component. Detailed city plans include 30 condominium units and 209 permanently affordable apartments …

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Stephen-Lohr
Architecture & DesignDevelopmentIndustry Voices

Research Uncovers a few Surprises about Today’s Renter

by Lynn Peisner

By Stephen Lohr Developers and property managers are navigating a multifamily landscape that looks much different than it did a decade ago. Affordability challenges are redefining priorities, and hybrid work styles are reshaping lifestyles. To meet the needs of residents, developers and owners must understand this transforming market and the renter priorities that drive it. The Residency Reshaped report is a joint effort by Dallas-based architecture firm Corgan and Hugo, the name given to the firm’s research group. The report provides a data-driven framework to help stakeholders better understand what …

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Caroline-Pompano-Beach jpg
DevelopmentFloridaLeasing & MarketingNewsSoutheast

Morgan, Carlyle Complete Caroline in Pompano Beach, Florida

by Lynn Peisner

POMPANO BEACH, FLA. — Morgan and Carlyle have opened Caroline Pompano Beach, a 352-unit community at 1200 NE 23rd St. within Pompano Citi Centre, an open-air lifestyle retail center in Pompano Beach. The project was a redevelopment of a former Macy’s department store. Caroline Pompano Beach includes eight four-story residential buildings housing studios, one-, two- and three-bedroom units. Amenities feature a coworking lounge with private offices, a conference room and work pods; a coffee bar; a clubhouse with catering kitchen, billiards table and television lounge; and a fitness center; resort-style …

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