Development

Mission-Paradise-Hayward
Affordable HousingCaliforniaDevelopmentNewsSeniors HousingWestern

EAH Opens Two Bay Area Affordable Housing Communities

by Lynn Peisner

HAYWARD, CALIF. — EAH Housing has opened Pimentel Place and Mission Paradise, two ground-up affordable housing developments in Hayward that, combined, include 133 units with rent restrictions ranging from 20 to 80 percent of area median income. Hayward is in Alameda County, about midway between San Jose and San Francisco. Pimentel Place includes 57 units for families. The community offers one- to three-bedroom floor plans with energy-efficient appliances, on-site laundry facilities, bicycle parking, a children’s play area and indoor and outdoor gathering spaces. About 2 miles south, Mission Paradise occupies …

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Avanza-Noblesville
Build-to-RentDevelopmentIndianaMidwestNews

Trinitas-Led JV Breaks Ground on Avanza at Hyde Park in Noblesville, Indiana

by Lynn Peisner

NOBLESVILLE, IND. — PCCP, Trinitas Ventures and Peninsula Investments have broken ground on Avanza at Hyde Park, a 237-unit build-to-rent (BTR) project in the Indianapolis suburb of Noblesville. Completion is slated for fall 2027. This is the first project bearing Trinitas’ new Avanza brand. The community will consist of one-, two- and three-bedroom villas and two- or three-bedroom townhomes situated on 25.5 acres. Homes will feature fenced backyards, double vanities in primary bathrooms, in-unit washers and dryers, stainless steel appliances and quartz countertops. Amenities include private conference rooms and a …

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Harborside-8-Jersey-City
DevelopmentFinanceNew YorkNewsNortheast

JV Secures $384 Million for Jersey City Waterfront High-Rise Development

by Lynn Peisner

JERSEY CITY, N.J. — Panepinto Properties and AJD Construction have secured $306 million in senior non-recourse construction financing and $78 million in preferred equity for the land purchase and vertical construction of Harborside 8, a 678-unit, luxury waterfront development along the Hudson River in Jersey City.  JLL’s Capital Markets group arranged the floating-rate senior loan through Kennedy Wilson. JLL also arranged the preferred equity through Affinius Capital. The development partners plan to break ground in the first quarter of 2026 with stabilization estimated for the first quarter of 2030. The 65-story …

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Rob-Likes_KeyBank3
Affordable HousingDevelopmentFinanceIndustry Voices

What Will it Take to Rebalance the Office and Housing Markets?

by Lynn Peisner

The nation’s housing crisis has reached a breaking point, pushing developers to rethink how and where new supply can be created. Among the most promising — and debated — solutions is the conversion of underutilized office buildings into much-needed affordable housing.  On the surface, the concept seems straightforward: repurpose empty office space into homes in locations where demand is highest. In practice, however, these projects are anything but simple. Converting office buildings into livable, modern and affordable multifamily residences requires far more than reimagining floor plans. Success depends on choosing …

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Blitz-McCaffrey
DevelopmentFinanceIndustry VoicesInvestment Sales

Solving the Balance Sheet Paradox: The Rise of Platform Investing in Multifamily Assets

by Lynn Peisner

Real estate “platform investments” have long been considered to be the purview of sophisticated financial players in the real estate world. These investments are typically made by institutional investors, pension plans or other private equity players. In platform investing, institutional capital is typically backing an “operator” — a development or investment firm responsible for sourcing, developing or managing multifamily assets. Platform investments provide a minority-stake ownership of the entity that employs key people making strategic investment decisions as well as the entity’s intellectual property. They also allow the investor the …

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Watsonville-Metro
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

MidPen Housing Secures $132.8 Million in Grants for Three Central California Affordable Housing Developments

by Lynn Peisner

SAN JOSÉ, ALAMEDA, AND WATSONVILLE, CALIF. — The California Strategic Growth Council has awarded funding to existing MidPen Housing developments in San José, Alameda and Watsonville that include a total of 362 affordable units as well as transit improvements. Valley Transportation Authority (VTA) Capitol Station in San José was awarded $49.3 million. Located next to the Capitol Light rail station, this transit-oriented development will include 203 affordable rental homes, including 51 permanent supportive housing apartments for formerly homeless individuals. The project will replace an underutilized VTA parking lot with an …

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Marine-Drive-Apartments-Buffalo
Affordable HousingDevelopmentNew YorkNewsNortheast

The Habitat Co. to Break Ground in Spring on $600 Million Redevelopment of Buffalo Waterfront

by Lynn Peisner

BUFFALO, N.Y. — The Habitat Co. has closed on financing for Marine Drive Apartments in downtown Buffalo. The project will mark the start of a three-phase, $600 million redevelopment of the historic waterfront site, which will include infrastructure work, that will be led by Habitat in partnership with Duvernay + Brooks and Bridges Development, an affiliate of the Buffalo Municipal Housing Authority (BMHA). The Phase I project cost is approximately $208 million. It is financed through public-private partnerships between Enterprise Community Partners, Buffalo-based M&T Bank and New York State Homes …

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Alta-Beacon-Nashville
DevelopmentNewsSoutheastTennessee

Wood Partners to Develop Alta Beacon in Nashville

by Lynn Peisner

NASHVILLE, TENN. — Wood Partners plans to break ground in January on Alta Beacon, a 328-unit property in the Wedgewood-Houston neighborhood of Nashville. Situated atop a 60-foot bluff, the five-story community will feature a mix of studio, one- and two-bedroom units. Amenities include a clubhouse, a fitness area, a resort-style pool, an indoor sky deck with a large exterior deck, dog yards, a pet spa and gate-protected structured parking. Earlier in 2025, Atlanta-based Wood Partners broke ground on Alta Gallatin, a 372-unit community situated on 35 acres. That project will …

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Portico-Revere
DevelopmentMassachusettsNewsNortheast

HYM, Cathexis Break Ground on Second Residential Project in Boston’s Suffolk Downs Redevelopment

by Lynn Peisner

REVERE, MASS. — The HYM Investment Group, along with project partners Cathexis Holdings, the City of Revere, Related Fund Management and Suffolk, have broken ground on Portico, the second residential building at the 161-acre Suffolk Downs, a redevelopment of a former horse racing track. HYM and Cathexis bought the site in 2017 with a plan to redevelop the property into a mixed-use district. The first project, Amaya, was completed in 2024. Portico is slated for a February 2028 completion. Additional partners on the 473-unit project include Prellwitz Chilinski Architects, MEP …

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Denver-Dry-Goods
Affordable HousingDevelopmentFeaturesFinanceMidwestNortheastSoutheastTexasWestern

The Creative Capital Strategies Driving Today’s Affordable Housing Deals

by Lynn Peisner

Skillful players are leveraging a bevy of public and private funding sources to get projects across the finish line. By Jack Rogers As costs of affordable housing projects continue to rise, developers are meeting the challenge by pulling together a resilient capital stack with a growing range of sources for gap financing, bridge loans and grants. They’re also diversifying the range of projects they undertake and mitigating their costs by redeveloping underutilized publicly owned property, acquiring leases for sites that are being rezoned to housing from other uses and with …

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