Development

F.H. Paschen Tops Off First Phase of $43 Million Workforce Housing Project Near Chicago

by Channing Hamilton March 25, 2025

BELLWOOD, ILL. — F.H. Paschen has topped off Phase I of the Bellwood Gateway Development, a $43 million workforce housing project in Bellwood, about 15 miles west of Chicago. The four-story, 71-unit community at 2711 and 2712 St. Charles Road is slated to open in Spring 2026. The property will also include 6,000 square feet of ground-floor commercial space. F.H. Paschen broke ground on the project in July 2024. Chicago-based DesignBridge was the architect. Financing sources for the project include TIF financing, workforce housing bonds and a State of Illinois grant …

March 25, 2025

Affordable Housing Development New York News Northeast

Partnership Begins Leasing 50-Story Apartment Building in Queens

by Channing Hamilton March 25, 2025

NEW YORK CITY — A partnership between two locally based developers, Fetner Properties and Lions Group, has begun leasing The Italic, a 50-story building located at 26-32 Jackson Ave. in the Long Island City area of Queens. The building offers 363 units in studio, one-, two- and three-bedroom configurations, with 109 residences designated as affordable housing. Income restrictions for these units were not disclosed. Rents start at approximately $3,800 per month for a studio. Shared amenities include a communal lounge, fitness center, golf simulators, a basketball court, coworking spaces and …

March 25, 2025

Build-to-Rent Development News North Carolina Southeast

Crescent Communities Breaks Ground on BTR Project in Greensboro, North Carolina

by Channing Hamilton March 24, 2025

GREENSBORO, N.C. — Crescent Communities has broken ground on HARMON Jefferson Village, a 130-unit build-to-rent townhome community situated on 16 acres in Greensboro. The community will offer three- and four-bedroom townhomes ranging from 1,650 to 2,165 square feet. HARMON Jefferson Village is set to open in summer 2025. Residents will have access to amenities such as a pool with a pavilion and grilling station, event lawn for gatherings and trailhead access for outdoor recreation. An account managed by Heitman LLC is the equity partner on the project. The development team …

March 24, 2025

Build-to-Rent Development Finance Illinois Midwest News

VennPoint Secures $55.6 Million in Financing for BTR Project in Chicago Suburb

by Channing Hamilton March 21, 2025

DEERFIELD, ILL. — Schaumburg, Illinois-based investment firm VennPoint Real Estate has received $45.7 million in construction financing and $9.9 million in mezzanine financing for Park5 Luxury Rental Townhomes in Deerfield, 30 miles north of downtown Chicago. Located at 5 Parkway N, the build-to-rent (BTR) community consists of 144 units. Park5 Luxury Rental Townhomes offers two- and three-bedroom residences averaging 1,953 square feet. Each townhome will feature two-car attached garages, multi-level floor plans, yards and outdoor space. A construction timeline was not disclosed. Matthew Schoenfeldt and Mary Dooley of JLL Capital …

March 21, 2025

Build-to-Rent Development Georgia News Southeast

ARK Homes For Rent Completes BTR Community in Brunswick, Georgia

by Channing Hamilton March 21, 2025

BRUNSWICK, GA. — ARK Homes For Rent has completed Walker Point, an affordable build-to-rent community situated on 25 acres in Brunswick, a city located on the southeast coast of Georgia. Walker Point features 237 townhomes in two-, three- and four- bedroom layouts. Leasing has begun at the community, and immediate occupancy is available. Each unit offers granite countertops, energy-efficient stainless-steel appliances and laundry room with washer and dryer included. Shared amenities include a clubhouse with a fitness center, yoga room, pool, outdoor lounge with barbeque and dining area and a dog park. …

March 21, 2025

Affordable Housing Development Midwest News Ohio

Frontline Development, Woda Cooper Break Ground on $17.6 Million Affordable Housing Project in Cleveland

by Channing Hamilton March 20, 2025

CLEVELAND — Frontline Development Group LLC and Woda Cooper Cos. Inc. have broken ground on Gordon Crossing, a $17.6 million affordable housing development in Cleveland. The four-story development will feature 42 two-bedroom and 12 three-bedroom apartments. Gordon Crossing will be available to households earning up to 80 percent of the area median income. Rents are expected to range from $362 to $1,699, depending on household income and unit size. Residents will have access to shared amenities such as a community room with kitchenette, on-site management office, parcel room and outdoor …

March 20, 2025

Development Finance Georgia News Southeast

Vida Raising $47 Million Fund for Multifamily and BTR Projects in Metro Atlanta

by Channing Hamilton March 19, 2025

ATLANTA — Vida is raising an equity fund to build two multifamily properties and one build-to-rent community in suburban Atlanta. The Atlanta-based developer has completed its seed funding round on the $47 million fund, which is entitled Vida Opportunities Fund I LLC. Vida is developing GuildHouse at 2085 Marietta Blvd. in the Upper Westside neighborhood of Atlanta. The unit mix at GuildHouse will include 354 apartment units, as well as 39 build-to-rent townhomes. Apartments will range from 550 to 1350 square feet. Townhomes will rise three stories and come in three-bedroom …

March 19, 2025

Development News Utah Western

Wood Partners Breaks Ground on Development in Salt Lake City Suburb

by Channing Hamilton March 19, 2025

LEHI, UTAH — Wood Partners has begun construction on Alta Vista, a 304-unit development in Lehi, about 30 miles south of downtown Salt Lake City. The property will offer a mix of one-, two- and three-bedroom apartments. Alta Vista will also feature roughly 8,000 square feet of amenity space, including a clubhouse, entertainment kitchen, coworking space, fitness center, speakeasy and an outdoor pool, spa and kitchen. The development will also add a trail system through the adjacent park, which will feature a playground, pickleball courts and a basketball court. The …

March 19, 2025

Build-to-Rent Development Finance News Texas

The Empire Group Receives $58 Million Construction Loan for BTR Project in San Marcos, Texas

by Channing Hamilton March 19, 2025

SAN MARCOS, TEXAS — The Empire Group has received a $58 million construction loan for Village at Centerpoint Station, a build-to-rent (BTR) project in San Marcos, roughly halfway between San Antonio and Austin, Texas. Kyle McDonough, George Maravilla, David Stull and Noah Schott of Tower Capital originated the financing on behalf of the developer. Village at Centerpoint Station will consist of 270 single-family rental units on a 24-acre site in the Tech Corridor of Texas. The average unit size will be 1,047 square feet. Each residence will feature a private …

March 19, 2025

California Development Leasing & Marketing News Western

MBK Rental Living Opens 292-Unit Community in Duarte, California

by Channing Hamilton March 18, 2025

DUARTE, CALIF. — MBK Rental Living has opened Solana at Duarte Station, a five-story asset located at 1740 Fasana Road in Duarte, 20 miles northeast of Los Angeles. The community offers 292 units in studio, one-, two-, three- and four-bedroom floor plans. Apartments range from 534 square feet to 2,802 square feet. Select units feature private patios or balconies and walk-in closets. Tenants have access to shared amenities such as a clubhouse, fitness center and yoga studio, coworking spaces, a pool, game lounge, cabana club and dog lounge, spa and park. …

March 18, 2025

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