Development

The-Pearl-Charlotte
DevelopmentFinanceNewsNorth CarolinaSoutheast

GMH-led JV Secures $114.2M Construction Loan for Charlotte High-Rise

by Lynn Peisner

CHARLOTTE, N.C. — JLL has arranged a $114.2 million construction loan for ANOVA The Pearl, a 20-story, 382-unit unit high-rise under construction in Charlotte. GMH Communities, AEW Capital Management and Wexford Science & Technology broke ground in spring of this year. Completion is slated for 2028. The lender was Santander Bank. ANOVA The Pearl will feature studio, one-, two- and three-bedroom units complemented by 6,621 square feet of ground-floor retail, a fitness center, resort-style pool, rooftop lounge, golf simulator and coworking space. The development is located within The Pearl, a …

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2-South-Main-Port-Chester
DevelopmentFinanceNew YorkNewsNortheast

Developers Secure $147.5M for 12-Story Development in Port Chester, N.Y.

by Lynn Peisner

PORT CHESTER, N.Y. — Walker & Dunlop has arranged $147.5 million in debt and equity for the construction of 2 South Main, a 12-story, 322-unit property with 5,000 square feet of retail in Port Chester. Hyperion Group and AIP are the developers, and LRC Construction is the general contractor. Winter Properties also is a partner in the project. Construction will begin in the fourth quarter of 2026. A completion date was not disclosed. Walker & Dunlop’s Mo Beler, Jonathan Paine, Cory Elbaum, Jackson Irwin and Dawson Jessee arranged the equity …

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Forge-Lenox
Affordable HousingDevelopmentMassachusettsNewsNortheast

Pennrose Opens Mixed-Income Property in the Berkshires

by Lynn Peisner

LENOX, MASS. — Pennrose has completed and opened Forge, a mixed-income community in Lenox. The 65-unit Forge includes 13 townhome-style buildings offering one-, two- and three-bedroom units, 50 of which are reserved for households earning 30 to 60 percent of area median income (AMI). Nine homes are reserved for tenants who qualify for Massachusetts Rental Voucher Program (MRVP) assistance, a state-funded rental subsidy. Fifteen units are designated as workforce housing, for households earning up to 120 percent of AMI. Funding came from a variety of public and private sources. Pennrose …

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Avilla-Land-O-Lakes
Build-to-RentDevelopmentFloridaNewsSoutheast

NexMetro Opens Third BTR Avilla Community in Metro Tampa

by Lynn Peisner

LAND O’ LAKES, FLA. — NexMetro has opened Avilla Silver Palm, a 180-home build-to-rent community in Land O’ Lakes, about 20 miles north of Tampa, Florida. This is NexMetro’s third Avilla Homes neighborhood in the greater Tampa market (the other two are Avilla Suncoast in Odessa and Avilla Cypress Creek in Sun City Center). Located at 11334 Zion Narrows Trail, Avilla Silver Palm sits on 26 acres and features mostly detached, single-level homes with private fenced backyards, front porches, optional garages and amenities such as a resort-style pool, outdoor lounge …

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The-Statesman-Gallatin
DevelopmentNewsSoutheastTennessee

Thompson Thrift to Develop The Statesman in Metro Nashville

by Lynn Peisner

GALLATIN, TENN. — Thompson Thrift has announced plans to develop The Statesman, a 340-unit community in Gallatin, approximately 30 miles northeast of downtown Nashville. Situated on 25 acres, The Statesman will feature a mix of three-story, garden-style buildings and two-story buildings with private entrances. Floor plans will be offered in one-, two- and three-bedroom layouts. Units will feature granite countertops, smart home technology, stainless steel appliances and patio, balcony or private yard options. Detached garages and an Amazon package hub will also be available. Other amenities include a pool, 24-hour …

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Mike-Fausone-Conor
Company NewsDevelopmentMidwestNewsPeople News

Conor Commercial Real Estate Promotes Mike Fausone to Vice President

by Lynn Peisner

ROSEMONT, ILL. — Conor Commercial Real Estate has promoted Mike Fausone to vice president of development. Fausone joined Conor in 2021 as development manager and was subsequently promoted to senior development manager in 2024. Fausone will focus on expanding multifamily development in the Midwest. Conor is a real estate subsidiary of McShane Cos.

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Vic-Centre-Fort-Worth
DevelopmentFinanceNewsTexas

Concord Summit Arranges $50M Construction Loan for 268-Unit Fort Worth Development

by Lynn Peisner

FORT WORTH, TEXAS — Concord Summit Capital has arranged a $50 million construction loan for a 268-unit project in Fort Worth. Summa Terra Ventures and M13 Construction were the borrowers. David Larson and Keegan Burger led Concord Summit’s team. The developers have broken ground on Vic Centre Apartments at 7124 Anderson Blvd. in East Fort Worth. The community will span nine three-story buildings, offering studios, one- and two-bedroom units. Completion is slated for 2028.

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Eliot-on-ocean-Revere
DevelopmentFinanceNewsNortheast

Invictus Obtains $67.3M Loan for Renovations to Metro Boston Beachfront Property

by Lynn Peisner

REVERE, MASS. — JLL has arranged a $67.3 million refinancing loan through Bridge Investment Group Holdings for Eliot on Ocean, a 194-unit waterfront property along Revere Beach in Revere, Massachusetts. The borrower was New York City-based Invictus Real Estate Partners. Built in 2016, Eliot on Ocean is adjacent to the MBTA Wonderland Blue Line train station and features ocean views. Invictus plans to apply loan proceeds to renovations targeting common areas and unit interiors. Common area improvements will enhance the lobby, amenity spaces, fitness center and beachfront terrace. The unit …

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Parkside-Commons-Syracuse
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

BFC Partners and SAA Canopy Group Secure $269M to Finance Affordable Housing Redevelopment in Syracuse, New York

by Lynn Peisner

SYRACUSE, N.Y. — BFC Partners and SAA Canopy Group have obtained $269 in financing for the redevelopment of the Parkside Commons housing complex in Syracuse. The developers will deliver 393 affordable apartments via renovated and newly constructed units. Rent restrictions were not disclosed The property currently consists of 10 buildings. With this construction financing, the development team will renovate six of those buildings and construct two new ones. Existing tenants who live in the four oldest structures, which eventually will be demolished, will relocate to the two new buildings. Financing …

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Altera-Heights-Apex
DevelopmentNewsNorth CarolinaSoutheast

Wood Partners, Marcus Partners Team up for Development in Raleigh-Durham Metro

by Lynn Peisner

APEX, N.C. — Wood Partners and Marcus Partners have broken ground on Altera Heights in Apex. The 280-unit community is located at the intersection of Jenks and Wimberly roads and will be comprised of one-, two- and three-bedroom units, some of which will be income-restricted. Marcus Partners is providing an undisclosed sum of equity for the project. Altera Heights will have a freestanding clubhouse featuring a fitness center, coworking space and gaming and lounge areas. Additional amenities include a resort-style pool, outdoor fitness area, dog park and pet spa. The …

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