Development

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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3030-Maybank
Build-to-RentDevelopmentNewsSouth CarolinaSoutheast

Center Park Group, Berry Co. Underway on BTR Development Near Charleston

by Lynn Peisner

JOHNS ISLAND, S.C. — General contractor Center Park Group and developer The Berry Co. are developing 3030 Maybank, a 72-unit build-to-rent project on a 9-acre site in Johns Island, 11 miles south of Charleston, South Carolina. Vertical construction began in April 2026, with the first homes slated for completion in November of this year. Each home will include three bedrooms, an open-concept living area, private balcony, attached one-car garage and driveway parking. Amenities will include a playground, dog park, gazebo and hammocks, along with landscaped common areas and sidewalks throughout …

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W-Lobby-Cleveland
DevelopmentFinanceMidwestNewsOhio

ErieView Secures $217.6M in Construction Financing for Cleveland Tower Redevelopment

by Lynn Peisner

CLEVELAND — ErieView Development, led by Cleveland’s Kassouf family, is redeveloping the 40-story Erieview Tower into a 210-room W Cleveland hotel, 215 W-branded rental apartments and renovated office space. Brown Gibbons Lang & Co. served as financial adviser and arranged roughly $217.6 million in financing for the residential and hotel phases. The hotel and apartments are slated to open in late 2027. In 2018, The Kassouf family acquired the largely vacant office tower, built in 1964. The conversion will introduce both Ohio’s first W Hotel and the W brand’s first …

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Chicopee-Village-Chicopee
Affordable HousingDevelopmentInvestment SalesMassachusettsNewsNortheast

WinnCos. Acquires, Rehabs Western Massachusetts Affordable Housing Property

by Lynn Peisner

CHICOPEE, MASS. — WinnCos. has acquired a 290-unit affordable housing community in Chicopee and begun a $41.5 million rehabilitation of the property. The sales price was not disclosed. Affordability restrictions at Chicopee Village Townhomes were set to expire this year. Financing for the acquisition and rehabilitation closed on Aug. 13, guaranteeing the property will remain affordable housing for 50 years. Upon completion of the renovation — slated for summer 2028 — 30 apartments will be converted to unrestricted units, allowing existing over-income households to remain housed and avoid displacement. The …

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Aston-at-Longleaf-Melbourne
DevelopmentFinanceFloridaNewsSoutheast

Eastwind Development Secures $45.5M Construction Loan for Space Coast Project

by Lynn Peisner

MELBOURNE, FLA. — Palm Beach Gardens, Florida-based Eastwind Development has broken ground on The Aston at Longleaf on Preserve Drive in Melbourne. Construction of the 264-unit community began after Eastwind acquired the 17-acre site and secured a $45.5 million construction loan provided by TD Bank. Amenities at The Aston include a 10,000-square-foot clubhouse featuring a community lounge, game room, fitness center with an adjoining spin room and a coworking lounge. Outside, residents have access to a resort-style pool with private cabanas, an outdoor kitchen, firepit, yoga lawn, games lawn, dog …

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Jessie-Street-Terrace-Santa-Cruz
Affordable HousingCaliforniaDevelopmentNewsWestern

MidPen Housing and Partners Complete Jessie Street Terrace in Santa Cruz, California

by Lynn Peisner

SANTA CRUZ, CALIF. — MidPen Housing has completed and opened Jessie Street Terrace, an affordable housing redevelopment in Santa Cruz. Formerly a 14-room hotel, Jessie Street is now comprised of 50 studio and one-bedroom permanent supportive housing units reserved for tenants earning between 20 and 50 percent of area median income. About half the apartments are reserved for veterans, while others are set aside for people who have previously experienced homelessness. MidPen Property Management manages the property. Through partnerships with Palo Alto Veterans Affairs and the County of Santa Cruz …

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Crawford-Commons-Clifton
Affordable HousingColoradoDevelopmentFinanceNewsWestern

Developers Awarded Tax Credits for Colorado Affordable Housing Project

by Lynn Peisner

CLIFTON, COLO. — Housing Resources of Western Colorado (HRWC) and Evergreen Real Estate Group have been awarded 9 percent Low-Income Housing Tax Credits (LIHTC) for the development of Crawford Commons Apartments in Clifton, about 7 miles east of Grand Junction, Colorado. The 60-unit affordable housing community will provide townhome-style units to renters earning between 30 and 80 percent of area median income. LIHTC investors and syndicators were not announced. Holst Architecture is the architect, and Shaw Construction will serve as general contractor. The community will be built on land donated …

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The-Triangle-Miami
Affordable HousingDevelopmentFloridaNewsSoutheast

DFRE Begins Construction of $35M Workforce Project in Miami

by Lynn Peisner

MIAMI — Locally based developer DFRE has broken ground on The Triangle, a $35 million workforce housing project in Miami’s Health District. The community will include 112 units reserved for households earning up to 120 percent of area median income. Amenities at the eight-story project include a 10,000-square-foot pool terrace and a 3,500-square-foot fitness center featuring a health food and juice bar, complemented by private fitness studios and dedicated cardio rooms across the second through fourth levels. Bike storage a clubroom, package room and parking round out the amenity offerings. …

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Park24-Nashville
Affordable HousingDevelopmentNewsSoutheastTennessee

Holladay Opens 140-Unit Affordable Housing Community Park24 in Nashville

by Lynn Peisner

NASHVILLE, TENN. — Holladay Ventures, in partnership with the Urban League of Middle Tennessee (ULMT), has completed and opened Park24, a 140-unit, mixed-use affordable housing community at 660 Joseph Ave. in the McFerrin Park neighborhood of East Nashville. Units are reserved for renters earning 30 to 80 percent of area median income. The project was 81 percent leased as of Sept. 1. Financing partners included Amazon Housing Fund, U.S. Bancorp Impact Finance and Cedar Rapids Bank and Trust. The project also was backed by a $2 million grant from the …

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Juniper-Dallas
DevelopmentLeasing & MarketingNewsTexas

Larkspur Begins Leasing Juniper in Dallas’ Expo Park

by Lynn Peisner

DALLAS — Larkspur Capital has begun pre-leasing at Juniper, a 219-unit community in Dallas’ Expo Park neighborhood. Located at 4003 Commerce St., the seven-story Juniper was designed by Dallas-based architecture firm Corgan. OHT Partners was the general contractor. The property features studios and one- and two-bedroom apartments as well as penthouses, townhomes and ground-floor retail. Amenities include a private half-acre park, coworking spaces, indoor-outdoor clubhouse, fitness center, pickleball court and a third-floor resort-style pool deck with views of the downtown Dallas skyline. Juniper is across the street from the Willow, …

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