Development

1920-Turnbull-Bronx
Affordable HousingDevelopmentNew YorkNewsNortheast

Gilbane, Partners to Develop $170M Affordable Housing Tower in The Bronx

by Lynn Peisner

NEW YORK CITY — Gilbane and partners have closed on financing for 1920 Turnbull, a $170 million, 228-unit affordable and supportive housing project in the Castle Hill/Soundview neighborhood of the Bronx. Apartments are income-restricted to households earning up to 60 percent area median income, and 137 units will be reserved as permanent supportive housing. Strada Development and the Center for Urban Community Services (CUCS) are co-developers, with CUCS also serving as a service provider. Upon completion, slated for March 2029, CUCS will operate a 3,500-square-foot on-site office space providing residents …

Continue Reading
0 FacebookTwitterLinkedinEmail
Cartwright-Family-Apartments-Irvine
Affordable HousingCaliforniaDevelopmentNewsWestern

C&C Opens Irvine, California, LIHTC Development Cartwright Family Apartments

by Lynn Peisner

IRVINE, CALIF. — C&C Development, a Tustin, California-based affordable housing developer, has completed and opened Cartwright Family Apartments in the Irvine Business Complex. The 4 percent LIHTC project, which is fully occupied, includes 60 units reserved for households earning between 30 and 80 percent of area median income, with some units set aside for veterans. KTGY was the architect. Cartwright Family Apartments is a a single four-story residential building with a mix of 15 one-bedrooms, 17 two-bedrooms and 28 three-bedroom units. Amenities include a courtyard with a pool, barbecue pavilion, …

Continue Reading
0 FacebookTwitterLinkedinEmail
931-Senate-Columbia
DevelopmentNewsSouth CarolinaSoutheast

Subtext, PGIM to Build Mixed-Use Development in Columbia, South Carolina

by Lynn Peisner

COLUMBIA, S.C. — Subtext and PGIM have acquired land at 931 Senate St. in Columbia’s Vista district. The seven-floor property will be comprised of 221 units in one-, two- and three-bedroom layouts and 2,600 square feet of ground-floor retail. In December 2025, Columbia CBS affiliate WLTX reported the project cost to be approximately $80 million. Partners include Simmons Bank as lender, W.M. Jordan as general contractor, ESG as architect and interior designer, Davis & Floyd as civil engineer and structural engineer Pierce Engineering. The community will feature about 20,000 square …

Continue Reading
0 FacebookTwitterLinkedinEmail
JFK-Blvd-Jersey-City
DevelopmentFinanceNew JerseyNewsNortheast

Madison Capital Provides $375M Construction Loan for Jersey City Development

by Lynn Peisner

JERSEY CITY, N.J. — Walker & Dunlop has arranged a $375 million construction loan to finance JFK Boulevard, a mixed-use project that will be built in Journal Square in Jersey City. The developer is Nasser Freres. The lender was Madison Realty Capital. The project includes 840 residences, including studios, one-, two- and three-bedroom units. Eighty-four units will be designated as affordable housing. Rent restrictions have not yet been disclosed. The development will also feature approximately 50,000 square feet of retail space anchored by a national organic grocer. An additional 36,522 square …

Continue Reading
0 FacebookTwitterLinkedinEmail
Jeff-Goll-Hillpointe
Affordable HousingDevelopmentIndustry VoicesInvestment SalesOperations

Multifamily Market Moves Past Supply Shock

by Lynn Peisner

By Jeff Goll The headlines on multifamily have not caught up to the data. After two years of being the asset class everyone wanted to disparage, the U.S. apartment market quietly began to rebalance in the first quarter of 2026. New deliveries are collapsing, demand is returning faster than most forecasts expected, occupancy and renewal rates are improving, and the construction pipeline has thinned to a level that effectively guarantees a tighter market for years to come. For well-capitalized developers and operators with discipline and a low-cost basis, the setup …

Continue Reading
0 FacebookTwitterLinkedinEmail
Addison-Grove-Puyallup
Affordable HousingDevelopmentFinanceNewsWashingtonWestern

Great Expectations Secures Financing for Addison Grove in Puyallup

by Lynn Peisner

PUYALLUP, WASH. — Great Expectations, a Seattle-based affordable housing developer, has secured financing to build Addison Grove, a 102-unit affordable housing community in Puyallup, 36 miles south of Seattle. Great Expectations acquired the site in April. A construction timeline has not been disclosed. All units will be rent restricted at 50 and 80 percent of area median income, guaranteed for 60 years. According to the Washington State Housing Finance Commission, the project cost is approximately $34.2 million. Addison Grove was financed without tax credits, instead leveraging a subordinate loan from …

Continue Reading
0 FacebookTwitterLinkedinEmail
Avilla-Foothills-Surprise
ArizonaBuild-to-RentDevelopmentNewsOperationsWestern

NexMetro Opens Avilla Foothills BTR Project in Metro Phoenix

by Lynn Peisner

SURPRISE, ARIZ. — NexMetro Communities has completed and opened Avilla Foothills, a 108-unit build-to-rent development in Surprise, about 28 miles northwest of Phoenix. Avilla Foothills is comprised of single-level homes, some with optional garages, and amenities such as a resort-style pool and hot tub, outdoor kitchen and grills, landscaped open spaces, covered parking, a 24-hour maintenance team, pet parks and no breed or size restrictions for pets.

Continue Reading
0 FacebookTwitterLinkedinEmail
Parks-At-LegacyWest-Plano
DevelopmentNewsTexas

StreetLights Residential Breaks Ground on Luxury Tower in Plano, Texas

by Lynn Peisner

PLANO, TEXAS — Dallas-based StreetLights Residential has broken ground on Parks at Legacy West, a 22-story luxury high-rise at 6501 Legacy Drive in Plano. The development, located within the 100-acre former J.C. Penney headquarters campus, will include 261 one-, two- and three-bedroom units and three adjacent three-bedroom rental townhomes. The retailer was based at the site from 1992 until 2020. Legacy West, a 240-acre mixed-use development, is across the street. Amenities include a three-tiered, resort-style pool with private cabanas equipped with TVs; a sky lounge with dining area, card room, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Choice-Neighborhood-V-Newport-News
Affordable HousingDevelopmentNewsSoutheastVirginia

Pennrose, Partners Break Ground on Final Phase of $120M Newport News Redevelopment

by Lynn Peisner

NEWPORT NEWS, VA. — Construction has begun on the fifth and final phase of the Marshall-Ridley Choice Neighborhood Initiative (CNI) in Newport News. Ridley Place was public housing originally built in 1954 on approximately 18 acres. That community is now being replaced through the CNI, which is a HUD-backed redevelopment plan focused on mixed-income housing, resident services and broader neighborhood investment. Across the phases, Marshall-Ridley CNI leaders leveraged more than $120 million in housing investment. Pennrose’s Phase V, located at 2815 Washington Ave., will add 73 mixed-income units, amenities and …

Continue Reading
0 FacebookTwitterLinkedinEmail
Freddie Mac
Affordable HousingDevelopmentFeaturesFinanceSeniors Housing

Fannie Mae, Freddie Mac Enter Bullish Phase

by Lynn Peisner

By John Nelson Fannie Mae and Freddie Mac are scaling up their multifamily loan production this year while their partner servicers and underwriters are aggressively pursuing new business. The Federal Housing Finance Agency (FHFA), which has been the conservator of the two government-sponsored enterprises (GSEs) since 2008, blew open the annual lending caps for the two agencies this year. The new caps are set at $88 billion apiece, which is a more than 20 percent increase from the 2025 cap and the highest dollar amount allotted by the FHFA since …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2026 France Publications, dba France Media Inc.