Development

Hedrick Brothers Obtains $56.5M Loan, Breaks Ground on 366-Unit Project in Kissimmee, Florida

by Lynn Peisner July 10, 2026

KISSIMMEE, FLA. — Hedrick Brothers Development has obtained a $56.5 million construction loan for The Hedrick at Lake Toho, a 366-unit community along Toho Grande Boulevard in Kissimmee. Construction has commenced, with completion slated for the end of 2028. Pre-leasing is expected to begin in 2027. Located on approximately 22 acres, The Hedrick at Lake Toho will feature a mix of one-, two- and three-bedroom units complemented by a resort-style pool with cabanas and fire pit, clubhouse with coworking and gaming spaces, pickleball courts, a yoga lawn, dog park, pet …

July 10, 2026

Affordable Housing California Development News Western

SummerHill, KTGY Break Ground on 11 El Camino Real in San Carlos, California

by Lynn Peisner July 10, 2026

SAN CARLOS, CALIF. — SummerHill Apartment Communities, with architect KTGY, has broken ground 11 El Camino Real, situated on 2.2 acres in San Carlos, 23 miles south of San Francisco. The project includes 251 units, in studio through three-bedroom floor plans, and 38 affordable units, reserved for a variety of income levels. Amenities feature a pool, hot tub, landscaped courtyards, clubroom, fitness center, leasing office, resident lounge, bike room and mail room. The community is within about 1 mile of two Caltrain stations with commuter service throughout the Bay Area. …

July 10, 2026

Affordable Housing Development Investment Sales News Northeast Virginia Washington, D.C.

GoodHomes Acquires Metro D.C. Hotel, Plans Multifamily Conversion

by Lynn Peisner July 9, 2026

ARLINGTON, VA. — GoodHomes Communities has acquired Arlington Court Suites in Alexandria for $35 million and plans to convert the 187-unit hotel into a 180-unit multifamily community. The KLNB multifamily capital markets team led by Rawles Wilcox, Justin Shay and Dutch Seitz and the HREC Investment Advisors team of Mark Morris and Scott Stephens represented the seller, Arlington Hotel Holdings Inc. GoodHomes is a New York City-based investor that acquires under-performing hospitality and seniors housing assets and redevelops them as workforce housing serving residents earning between 60 and 120 percent …

July 9, 2026

Development News South Carolina Southeast

Woodfield Development Breaks Ground on Westbourne Ashley Landing in Charleston

by Lynn Peisner July 9, 2026

CHARLESTON, S.C. — Woodfield Development has acquired a portion of the 31-acre Ashley Landing redevelopment site for the construction of Westbourne Ashley Landing. The 285-unit community will serve as the multifamily component of the $348 million redevelopment of the former Ashley Landing enclosed mall. Once EDEN’s multi-phase redevelopment is complete, the site will feature approximately 240,000 square feet of retail, restaurant and commercial space anchored by Publix along with residential neighborhoods, public gathering areas and approximately 1 acre of central green space. Construction financing for Westbourne was provided by TD Bank …

July 9, 2026

Development News Northeast Virginia Washington, D.C.

Gilbane Starts Construction of Office-to-Residential Project in Metro D.C.

by Lynn Peisner July 7, 2026

ARLINGTON, VA. — Gilbane Development has begun construction of Renley, an office-to-residential conversion at 3601 Wilson Blvd. in Arlington’s Virginia Square neighborhood. Gilbane acquired the building, developed in 2000, in March 2025. The community will include 94 market-rate units in one-, two- or three-bedroom floor plans. Renley represents one of the first projects to take advantage of Arlington County’s updated adaptive reuse policy, adopted in November 2024, which lowered costs and removed regulatory hurdles for developers. The redevelopment plan will preserve the building’s exterior façade. Inside, amenities will include tenant storage …

July 7, 2026

Build-to-Rent Development Leasing & Marketing News Operations Southeast Tennessee

ARK Homes for Rent Begins Pre-Leasing at Knoxville BTR Project

by Lynn Peisner July 7, 2026

KNOXVILLE, TENN. — ARK Homes for Rent has begun pre-leasing at The Reserve at Three Ridges in Northeast Knoxville. The 126-unit community is comprised of two-story townhomes in three- and four-bedroom floor plans with attached garages, open layouts, granite countertops and stainless steel appliances in kitchens, smart home features and walk-in closets. Amenities include a clubhouse, pool, playground and pet park. A construction completion date was not disclosed.

July 7, 2026

Affordable Housing Development Florida News Southeast

Trevato Breaks Ground on $120M Mixed-Use Development in Jacksonville Beach

by Lynn Peisner July 7, 2026

JACKSONVILLE BEACH, FLA. — Locally based Trevato Development Group has broken ground on a $120 million mixed-use development at the former Adventure Landing site in Jacksonville Beach. Adventure Landing was an amusement and water park that opened in the 1990s and operated for roughly 30 years. Trevato acquired the property in 2021. The project, which has not yet officially been named, will include 415 units of market-rate and workforce housing, 1,800 square feet of ground-level retail space and a viewing platform overlooking the Intracoastal Waterway. The site is on Beach …

July 7, 2026

Affordable Housing California Development News Western

Kennedy Wilson, Jamison Team Up to Develop 4,000 Units of Affordable Housing in Los Angeles

by Lynn Peisner July 6, 2026

LOS ANGELES — Kennedy Wilson and Jamison have partnered to develop 4,000 affordable housing units across Los Angeles through adaptive reuse and ground-up construction. Specifically, the partnership is comprised of Jamison’s affordable housing division, Arden Residential, and Kennedy Wilson’s affordable housing development group, Vintage Housing. According to Bloomberg, the development cost is approximately $1.7 billion. The Los Angeles Times reports the partners will deliver the units via 15 separate projects. The team will begin with the conversion of the former L.A. World Trade Center, a 10-story office complex developed in …

July 6, 2026

Affordable Housing Development Midwest Missouri News

Milhaus to Develop 194-Unit LIHTC Project in Kansas City

by Lynn Peisner July 6, 2026

KANSAS CITY, MO. — Milhaus will develop Linwood & Troost, a 194-unit affordable housing community in Kansas City. Construction is slated to begin at the end of 2026, with completion anticipated by 2028. The Missouri Housing Development Commission (MHDC) awarded 4 percent federal Low-Income Housing Tax Credits for the project. In addition to the tax credits, funding sources include a tax abatement from Kansas City’s Planned Industrial Expansion Authority and $1.5 million awarded from the Kansas City Housing Trust Fund. The total project cost was not disclosed. Indianapolis-based Milhaus will …

July 6, 2026

Build-to-Rent Development Finance News Southeast Tennessee

Forman Capital Finances $49.4M BTR Project in Nashville

by Lynn Peisner July 2, 2026

NASHVILLE, TENN. — Forman Capital, a private direct lender, has provided a $49.4 million construction loan for Moda Vista, a 102-unit build-to-rent community at 3320 Curtis St. in the Bordeaux neighborhood of Nashville. The borrower/developer, Moda Homes, is underway on sitework in preparation for vertical construction, which the Illinois-based developer anticipates beginning in summer 2027. Additional project details have not been released.

July 2, 2026

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