Development

Sunlake-North

LAND O’LAKES, FLA. — Berkadia has arranged the sale of a 28.5-acre parcel. Brookfield Residential Land was the seller, and Maymount Homes was the buyer. The site, located in the master-planned community of Bexley 30 miles north of Tampa, is entitled for low-density multifamily. Maymount will partner with Dinerstein Cos. to develop a 250-unit build-to-rent (BTR) community on the site. The project will be complete by the fourth quarter of 2026. The unnamed project will include a mix of two- and three-bedroom residences featuring private yards, attached garages and access …

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750-Golden-Gate

SAN FRANCISCO — MidPen Housing, along with the City of San Francisco, has broken ground on two affordable housing communities in San Francisco. Combined, the buildings will include 167 units for low-income families and employees of the San Francisco Unified School District and the San Francisco Community College District. Rent restrictions and a construction timeline were not disclosed. In 2019, California Gov. Gavin Newsom signed an executive order allowing state agencies to use excess properties for affordable housing development. In May 2021, the state of California selected MidPen to develop …

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Village-at-Legacy

DECATUR, GA. — The Housing Authority of the City of Decatur (Decatur Housing) and nonprofit developer partner Preserving Affordable Housing Inc. (PAHI) completed Phase I and broke ground on Phase II of Village at Legacy on June 18. Once completed, the two-phase development will offer 132 one-, two- and three-bedroom residences across two phases and in a variety of floor plans including townhomes and apartments. The first 66 units in Phase I are being delivered under a $20.4 million construction contract with total project costs reaching $27.9 million. The second …

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Oxlley-Apartments

EDMOND, OKLA. — Milhaus and Humphreys Capital have completed and opened Oxlley in Edmond 15 miles north of Oklahoma City. Located at 101 West Main St. in the historic downtown area, Oxlley features 276 units offered as studios or in one-, two- or three-bedroom floor plans. Amenities include a 24-hour fitness center, electric vehicle charging stations, conference rooms for remote workers, a dog park and a pet spa. The community does not have breed or weight restrictions on pets.

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Carmichael-Commons

MADISON, GA. — Woda Cooper Cos. and Parallel Housing opened Carmichael Commons in Madison on June 18. The $18.2 million, 60-unit townhome community is comprised of eight one-bedroom, 32 two-bedroom and 20 three-bedroom townhomes. Units are reserved for residents with household incomes up to 50 and 60 percent of area median income (AMI). Six units are offered at market rates without income restrictions. The developers also are underway constructing Prior Farms, an $18.5 million, 40-unit build-to-rent community on adjoining land. The two-phase project will include a new park developed by …

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Inspire-Prairie-Springs

PLEASANT PRAIRIE, WIS. — Bond Cos. has broken ground on Inspire Prairie Springs in Pleasant Prairie, seven miles west of Kenosha, Wisconsin. The first phase of the project will be complete in 2027 and will include 332 units across three residential buildings and an amenity clubhouse. RINKA is the architect, and Stevens Construction Corp. is the general contractor. The three-story, garden-style buildings will feature a mix of studio, one-, two- and three-bedroom layouts ranging from 500 to 1,405 square feet. In each elevator-served building, residents will have access to a …

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Bakersfield-Apartments

BAKERSFIELD, CALIF. — BWE has arranged $61 million for Presidio Capital Partners to develop the first phase of Park Center at Seven Oaks in Bakersfield. Tom Turnage, senior vice president, and Alex Gregoire, vice president, both in BWE’s Irvine office, originated the four-year, floating-rate, interest-only construction loan with a 12-month extension from a super-regional bank. Park Center at Seven Oaks will include a total of 520 units when fully complete. Phase I will include 352 units. This initial phase will feature 17 residential buildings as well as a leasing office, …

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Core-Arvada

ARVADA, COLO. — Core Spaces is now leasing at Oxenfree Clear Creek, the Chicago-based developer’s build-to-rent asset in Arvada, 11 miles west of Denver. The project includes 116 multi-level townhomes in three- or four-bedroom floor plans. According to Apartments.com, monthly asking rents range from $4,190 to $4,715. Oxenfree Clear Creek features an amenity “fieldhouse,” which includes a fitness center and sauna, sport court and coworking spaces and an additional 22,700 square feet of outdoor amenities including grilling stations, dining and entertainment areas, a playground and greenspace.

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Alta-River-Park

FORT WORTH, TEXAS — Wood Partners has broken ground on Alta River Park in Fort Worth. Development of the 365-unit community will be complete by spring 2027. Units will be offered as studios or one-, two-, or three-bedroom floor plans. Amenities include a resort-style pool, pet facilities, a pickleball court, outdoor activity space, bike storage, a sky deck and direct trail access to the Trinity Clearfork trail system, which is an interconnected network of hiking trails spanning approximately 100 miles.

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Paradise-Gardens-Dallas

DALLAS — LEDG Capital has secured the financing necessary to convert an existing mixed-income property to an all-affordable community and to complete a $5.2 million renovation. Under the plan, the 90 market rate units at Paradise Gardens will be converted to affordable housing for 30 years under a Low-Income Housing Tax Credit agreement, while the Housing Assistance Payment contract protecting the remaining 23 units, which was due to expire in May 2025, will be renewed for 20 years. Under the new rent and income restrictions, apartments will be affordable to households …

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