Development

Pennrose Breaks Ground on $51.9M Mixed-Income Boston TOD

by Lynn Peisner June 16, 2026

BOSTON — Pennrose has begun construction of 95 Everett Street, an 88-unit, transit-oriented, mixed-income development in the Allston-Brighton neighborhood of Boston. The approximate project cost, according to the City of Boston, is $51.9 million. The property is across the street from the Boston Landing MBTA commuter rail station. Units offered as studios or with one, two or three bedrooms will come with rent restrictions ranging from 30 up to 120 percent of area median income. Residents will have access to a clubhouse, rooftop terrace and a fitness center. Pennrose Management …

June 16, 2026

Build-to-Rent California Development Leasing & Marketing News Operations Western

Zilber Opens BTR Project Northeast of Sacramento

by Lynn Peisner June 15, 2026

ROSEVILLE, CALIF. — Zilber Residential Group and Homes by Towne, both affiliates of Zilber Ltd., have opened Estia Roseville, a 209-unit development approximately 20 miles northeast of Sacramento. The one- and two-bedroom single-story homes range from about 709 to 1,083 square feet, and each features a private entrance, walk-in closets, a washer and dryer, stainless-steel appliances and private, fenced-in backyards with built-in dog doors. The community also offers a dog park and a pet spa, along with a pool, clubhouse, 24-hour fitness center and a dedicated yoga studio. Asking monthly …

June 15, 2026

Development News Texas

Rosewood Completes Third Phase of Tobin Estate Apartments in San Antonio

by Lynn Peisner June 15, 2026

SAN ANTONIO — Dallas-based Rosewood Property Co. is now leasing the third phase of The Tobin Estate Apartments in San Antonio. The third phase spans 10 acres and includes 359 new apartments. With Phase III complete, The Tobin Estate Apartments number 956 units across 44 acres. The property is part of the original Tobin Estate, designed and built in 1959 by the late Robert L.B. Tobin, a longtime San Antonio arts patron. At the center of the property, the Tobin Endowment restored the historic Tobin Mansion into its office headquarters. …

June 15, 2026

Colorado Development News Western

Formativ Breaks Ground on Luxury Component of Denver TOD

by Lynn Peisner June 15, 2026

DENVER — Locally based Formativ Real Estate Group has begun construction of Rowan, a 358-unit, 16-story community at 3875 Walnut St. in Denver’s River North Arts District, commonly known as RiNo. Located adjacent to the 38th & Blake commuter rail station, Rowan is part of Formativ’s larger investment in the 38th & Blake transit-oriented development site, which also includes 3850 Blake, a 310-unit workforce housing community currently under construction, and a forthcoming 180-key hotel. Units at 3850 Blake are reserved for renters earning up to 60 or 90 percent of …

June 15, 2026

Affordable Housing Development Finance Florida Industry Voices Southeast

Opportunity Zones 2.0 Could Be a Better Fit for Housing — If We Use It Well

by Lynn Peisner June 15, 2026

By Alfonso Costa Jr. As the federal Opportunity Zone (OZ) program evolves into a permanent “OZ 2.0” framework, with new OZ census tracts taking effect Jan. 1, 2027, states like Florida are moving quickly to shape where capital flows by launching online portals. For developers, investors, business owners and local officials, understanding how these rules are changing and how to engage in state-level nomination processes will be critical to harnessing tax-advantaged equity while deploying it into projects that deliver long-term community benefit. Opportunity Zones 2.0 Brings More Flexibility and a …

June 15, 2026

Affordable Housing Development Midwest News Ohio

Pennrose Breaks Ground on $64M Adaptive Reuse Project in Cleveland

by Lynn Peisner June 12, 2026

CLEVELAND — Pennrose and nonprofit partner MidTown Cleveland have broken ground on the $64 million redevelopment of the former Warner & Swasey factory in Cleveland. In October 2025, Pennrose acquired the building at 5701 Carnegie Ave. from the City of Cleveland. The development team, working on this project since 2017, drew on 24 capital sources to bring the plans to fruition, including contributions from the City of Cleveland, Cuyahoga County and the Cleveland Foundation, among other public and private partners. Constructed in the early 1900s, the 194,000 square-foot, five story …

June 12, 2026

Build-to-Rent Development Florida News Southeast

CBI Construction, Third Lake Development Break Ground on Abrazo at Wylder in Port St. Lucie, Florida

by Lynn Peisner June 10, 2026

PORT ST. LUCIE, FLA. — CBI Construction has broken ground on Abrazo at Wylder, a build-to-rent community located in Port St. Lucie. Tampa, Florida-based Third Lake Development LLC is the developer. Upon completion, slated for 2027, the community will feature 264 units and amenities that include a clubhouse, resort-style pool, pickleball courts and more. The development is the first multifamily project within the Wylder master-planned community, which also features new for-sale homes, a senior living community, a golf course and eventually a new public school. Site work at the 31-acre …

June 10, 2026

Affordable Housing Development Finance Midwest Ohio

Lument Secures $28M HUD Loan for Ohio Affordable Housing Redevelopment

by Lynn Peisner June 10, 2026

LORAIN, OHIO — Lument has secured a $28 million U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) loan to assist TFG Housing Resources and Raise Up with the rehabilitation of Western Horizon. Upon completion of the redevelopment, all 353 units of the affordable housing community in Lorain will be offered at rents capped at 60 percent of area median income. Lument’s Joey Hague led the transaction. TFG Housing Resources is a Columbus, Ohio-based real estate developer focused on the new construction and rehabilitation of affordable housing properties. …

June 10, 2026

Affordable Housing Development New York News Northeast

Mega Development Group, Ametrine Group Begin Construction of $147M Mixed-Income Redevelopment in Poughkeepsie, New York

by Lynn Peisner June 8, 2026

POUGHKEEPSIE, N.Y. — Mega Development Group and Ametrine Group have broken ground on Wallace Campus, a $147 million redevelopment of a vacant former department store in Poughkeepsie. Developed in partnership with on-site social services provider Mental Health America of Dutchess County, the project will convert the former Wallace Department Store, constructed in the 1870s, into 69 apartments while creating an additional 118 units across two new buildings. Wallace Campus will be affordable to households earning up to 80 percent of area median income. The unit mix is comprised of studios, …

June 8, 2026

Development Finance Illinois Investment Sales Midwest News

Eastern Union Arranges $15.9M Loan for Adaptive Reuse Project in East Peoria, Illinois

by Lynn Peisner June 5, 2026

EAST PEORIA, ILL. — Eastern Union has arranged a $15.9 million acquisition and construction loan for the conversion of a former assisted living facility into a 246-unit multifamily property located at 500 Centennial Drive in East Peoria. The financing was arranged by Joe Siegfried of Eastern Union. The borrower was The H&A Group of South Bend, Indiana, a real estate investment and development company focused on value-add and adaptive reuse projects across multiple asset classes. The loan was provided by Genesis Capital, which is based in Sherman Oaks, California. Originally …

June 5, 2026

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