Development

Harmony-at-Clear-Creek-Shawnee
Build-to-RentDevelopmentFinanceKansasMidwestNews

MCP, Bluerock Break Ground on Kansas City BTR Development

by Lynn Peisner

SHAWNEE, KAN. — Material Capital Partners (MCP) has secured $77.8 million in financing and begun construction on Harmony at Clear Creek, a 188-unit build-to-rent (BTR) community in Shawnee, 12 miles southwest of Kansas City, Kansas. Bluerock is MCP’s financial partner on the project. Bank OZK provided the construction loan, and Winchester Commercial Group is the general contractor. In addition to the loan, MCP is using equity from its BTR Development Fund I, which also is a funding source for two other BTR projects in the pipeline: Indigo Cove, an 83-unit …

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Ekos-Creekside-Naples
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners Breaks Ground on $63 Million Ekos Creekside in Naples

by Lynn Peisner

NAPLES, FLA. — McDowell Housing Partners (MHP) has broken ground on Ekos Creekside, a 160-unit affordable housing community in Naples reserved for families earning between 30 and 80 percent of area median income. The $63 million development is backed by a variety of financial partners and stakeholders. Collier County owns the land and has entered into a long-term ground lease agreement with MHP. Financing sources include tax-exempt bonds from the state, a construction loan from Fifth Third Bank and permanent financing via Barings. MHP raised equity for the development through …

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Fullerton-TDC
CaliforniaDevelopmentNewsWestern

Dinerstein Breaks Ground on Fullerton, California, Project

by Lynn Peisner

FULLERTON, CALIF. — The Dinerstein Cos. has begun construction of Atlas Fullerton, a 329-unit, five-story community in Fullerton, about 25 miles southeast of Los Angeles. Located at 229 East Orangethorpe Ave., Atlas Fullerton will include approximately 5,995 square feet of retail space and a 617-space parking garage. The amenity package will include a leasing center, a clubhouse, outdoor lounge, a pool and hot tub, a fitness center, coworking spaces, bike storage and repair, a coffee bar, dog park and a mail room. Completion is slated for 2027.

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615-River-Road-Edgewater
DevelopmentFinanceNew JerseyNewsNortheast

Maxal Group Secures First-Phase Financing for $1 Billion Riverfront Development in New Jersey

by Lynn Peisner

EDGEWATER, N.J. — S3 Capital has originated a $255 million construction loan for The Maxal Group’s 615 River Road, a multifamily project that will comprise the first phase of construction of a $1 billion redevelopment along the Hudson River in Edgewater. The 25-story community will include 381 units, ground-floor retail space and parking for approximately 500 vehicles. Amenities include a fitness center, indoor pool and hot tub, a sauna, golf simulator, sports court, workspaces and a stadium-style screening room. FXCollaborative is the architect, and CentraRuddy is the interior designer. Galaxy …

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Summerlin-Fort-Myers
Affordable HousingDevelopmentFloridaNewsSoutheast

Curran Young Underway on Fort Myers Affordable Housing Redevelopment

by Lynn Peisner

FORT MYERS, FLA. — Curran Young Construction has begun work on 5300 Summerlin Apartments, an affordable housing redevelopment in Fort Myers. The 8.5-acre, 172-unit property will be converted into a 230-unit community across three buildings. Amenities will include a 4,396-square-foot clubhouse, community gardens, a dog park, covered pavilions and grilling areas. Procida is the developer. Completion is slated for 2027. Rent restrictions were not disclosed.

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Keys-Pointe-Baltimore
Affordable HousingDevelopmentMarylandNewsNortheast

Second Phase of Baltimore Public Housing Redevelopment Underway

by Lynn Peisner

BALTIMORE — Construction is underway on Phase II of Keys Pointe, a $36 million affordable housing development in Baltimore. Stakeholders include the Housing Authority of Baltimore City (HABC) and developers The Michaels Organization and Affordable Homes and Communities of Greater Baltimore (AHC). The multi-phase project is a redevelopment of the O’Donnell Heights public housing community that was constructed in 1942 in East Baltimore. This newest complex will offer 60 affordable apartments, with floor plans that range from one- to four-bedroom apartments within townhouse-style buildings. Residents will have access to Keys …

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The-Conway-at-Huxley-Yards-Madison
Affordable HousingDevelopmentMidwestNewsWisconsin

McShane Breaks Ground on Madison Affordable Housing Development

by Lynn Peisner

MADISON, WIS. — McShane Construction Co. has broken ground on The Conway at Huxley Yards, a 50-unit affordable housing community in Madison. It is the third phase of Lincoln Avenue Communities’ Huxley Yards development, which is set on the site of a former Oscar Mayer processing plant. The Conway is situated on a 1.7-acre site at 1846 Commercial Ave. It was designed by Knothe & Bruce Architects and is expected to be completed in the third quarter of 2026. The first two phases, The Victoria and The View, also will …

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The-Greene
DevelopmentGeorgiaNewsSoutheast

RangeWater Breaks Ground on Suburban Atlanta Development

by Lynn Peisner

LAWRENCEVILLE, GA. — RangeWater Real Estate has broken ground on The Greene in Lawrenceville, about 30 miles northeast of Atlanta. The development is RangeWater’s seventh ground-up project in the Atlanta suburbs and its 28th in Georgia to date. Kinea Investimentos, a Sao Paulo-based investment firm, is a financial partner in The Greene. RangeWater’s internal construction division, RangeWater Construction, is leading the building efforts on the 21-acre site. The property’s 300 units will be offered in a unit mix that includes studios and one-, two- and three-bedroom floor plans. A resort-style …

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bode-columbia-city-Seattle
DevelopmentFinanceNewsWashingtonWestern

Dwight Mortgage Trust Provides $44 Million Bridge Loan to Seattle Developer

by Lynn Peisner

SEATTLE — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $44 million bridge loan for Seattle-based developer Bode. The financing retires existing construction debt, covers loan transaction costs, funds an interest reserve and supports final construction completion of two assets, Bode Columbia City and Bode Tacoma Dome. Bode Columbia City in Seattle is an 80-unit property featuring one- and two-bedroom floor plans. Bode Tacoma Dome is a 164-unit community in Tacoma, Washington, offering studios and one-, two- and three-bedroom floor plans.

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Langston-on-Seventh-DC
DevelopmentNewsNortheastWashington, D.C.

The Langston on Seventh Opens Near Howard University

by Lynn Peisner

WASHINGTON, D.C. — The Langston on Seventh, a 204-unit apartment community, has opened at the corner of 7th and S streets in Washington, D.C. The developers were Quadrangle Development and Capstone Development. Cooper Carry was the architect, and SK&A and PDI provided engineering services. Built on the former site of a Howard University research building, the eight-story, 280,000-square-foot community features 14,554 square feet of ground-floor retail, a 74-space, below-grade parking deck, a lobby, a pool deck, outdoor grills and dining areas, coworking spaces, a chef’s kitchen, sports simulator, a conference …

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