Development

Albion-Lawrenceville-Pittsburgh
DevelopmentNewsNortheastPennsylvania

Albion Residential Completes Pittsburgh Development

by Lynn Peisner

PITTSBURGH — Albion Residential has completed and opened Albion Lawrenceville, a 267-unit community in Pittsburgh’s Upper Lawrenceville neighborhood. The six-story property is comprised of studios, one- and two-bedroom units and 5,700 square feet of retail space. Amenities include a fitness center with boxing equipment, weights and a yoga studio; an arcade-game room with a bar; a rooftop terrace with lounge seating, grills and a fire pit; and a courtyard. Initial resident move-ins began in March. The architect was Harthorne and Plunkard, and First National Bank along with First Commonwealth Bank …

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Charleston-Ridge-New-Port-Richey
DevelopmentFloridaNewsSoutheast

Dobbins Group Breaks Ground on Charleston Ridge in New Port Richey, Florida

by Lynn Peisner

NEW PORT RICHEY, FLA. — Dobbins Group has broken ground on Charleston Ridge Apartments, a 230-unit community in New Port Richey, approximately 37 miles northwest of Tampa, Florida. Capstone Building Corp. is the general contractor. Charleston Ridge will feature six two-bedroom townhomes above 10,000 square feet of commercial space and four four-story apartment buildings with 224 units. Amenities include a clubhouse, fitness center, lounge, tenant market, pool, electric vehicle charging stations and community-wide Wi-Fi. Completion is slated for 2027. Headquartered in Birmingham, Alabama, Dobbins Group is a multifamily investment and …

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Twelve03-Charlotte
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

The Fallon Co. Secures $100.5M in Construction Financing for Twelve03 at Centre South in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — JLL has arranged $100.5 million in debt and equity for the construction of Twelve03 at Centre South, a 329-unit mixed-income community in Charlotte. Boston-based The Fallon Co. is the developer and borrower. The debt was secured through TD Bank, while RXR Realty Investments was the equity source. JLL’s Taylor Allison, Alexis Kaiser and Ryan Mueller handled the transaction. Led by The Fallon Co. in partnership with Charlotte-based Inlivian, Twelve03 is the first phase of Centre South, a $500 million, 16.7-acre mixed-use development. When complete, the project will …

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The real cost of those choices plays out over years: in maintenance calls, turnover time, mold remediation, resident complaints and, ultimately, rent premiums lost or captured. — Melissa Schroeder, VP of Business Development, Mincey Marble
Content PartnerDevelopmentIndustry ContentOperations

Beyond the Bid: Why Bathroom Material Choices Follow You for 15 Years

by Jaime Lackey

Developers building new multifamily projects scrutinize every line item — and bathroom materials are no exception. But the bid price on tile, fiberglass or cast marble shower panels and pans tells only part of the story. The real cost of those choices plays out over years: in maintenance calls, turnover time, mold remediation, resident complaints and, ultimately, rent premiums lost or captured. Over a 10- to 15-year hold period, bathroom material selection impacts maintenance budgets, unit turnover speed, resident satisfaction and asset value. And yet it’s still treated as a …

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Leena-Ocala-Florida
DevelopmentFinanceFloridaNewsSoutheast

Merrimac Ventures Secures $62.5M to Construct Leena Ocala

by Lynn Peisner

OCALA, FLA. — Merrimac Ventures and Southern Waters Capital have secured $62.5 million in construction financing from ACORE CAPITAL to fund development of Leena Ocala, a 360-unit community in Ocala. Located on a 36-acre site at SW 60th Ave. and SW 52nd St., the project will include 300 garden-style apartments across multiple three-story buildings, along with 60 two-story townhome residences. Amenities include multiple walking trails, neighborhood parks, landscaped open areas, a dog park and pickleball courts. A central clubhouse will feature a fitness center and resort-style pool, along with a …

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Skye-topping-out-delray-beach
DevelopmentFloridaNewsSoutheast

ANF Tops Out Skye Apartments in Delray Beach, Florida

by Lynn Peisner

DELRAY BEACH, FLA. — Davie, Florida-based construction firm ANF has topped out Skye Apartments, the second phase of the 50-acre Parks at Delray mixed-use development. Project developers are 13th Floor Investments and Key International, in partnership with CDS International Holdings and Wexford Capital. Skye will include studio, one-, two- and three-bedroom units, ranging from approximately 560 to 1,427 square feet, along with townhomes ranging from 1,670 to 1,770 square feet. Amenities will feature a resort-style pool with cabanas and a bar, parks with jogging trails, barbecue areas, a playground, coworking …

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Alta-Longmont-Colorado
ColoradoDevelopmentNewsWestern

Wood Partners, EIG EuroInvestor Break Ground on 252-Unit Alta Longmont Northeast of Boulder

by Lynn Peisner

LONGMONT, COLO. — Wood Partners and Hamburg, Germany-based capital partner EIG EuroInvestor have broken ground on Alta Longmont, a 252-unit development 15 miles northeast of Boulder, Colorado. The seven-building, three-story community features a mix of one-, two- and three-bedroom layouts. Amenities include a resort-style pool and courtyard with mountain views, an outdoor kitchen and grill area, a fitness center, a resident clubhouse, a business center with private conference rooms and a dedicated dog-walking area. Project partners include Design Balance as the lead architect, Civil Resources as the civil engineer and …

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Silver-Oaks-Tampa
Affordable HousingDevelopmentFloridaInvestment SalesNewsSoutheast

Fairstead Invests $54.7M to Acquire and Redevelop Silver Oaks Apartments in Tampa, Florida

by Lynn Peisner

TAMPA, FLA. — New York City-based affordable housing developer Fairstead has announced the $54.7 million acquisition and rehabilitation of Silver Oaks Apartments in Tampa. The 200-unit property was built in 1973 and is governed by Section 8 and Low-Income Housing Tax Credit (LIHTC) affordability restrictions, with all units reserved for households earning up to 60 percent of area median income. Construction and redevelopment efforts at Silver Oaks Apartments will begin in the second quarter of this year with completion slated for the third quarter of 2027. Located at 4200 Kenneth …

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AnnikaPlaceII-Traverse-City
Affordable HousingDevelopmentMichiganMidwestNews

Woda Cooper Opens $19.3M Phase II of Annika in Traverse City

by Lynn Peisner

TRAVERSE CITY, MICH. — Woda Cooper Cos. has completed and opened Annika II, a $19.3 million, 58-unit affordable housing community in Traverse City. The 29 one-bedrooms and 24 two-bedrooms are reserved for families earning up to 30 to 80 percent of area median income. Some units are specifically set aside for tenants with developmental disabilities, supported by project partner Goodwill Industries. The first phase of this project opened in 2024 and included 53 one- and two-bedroom units offered with the same rent restrictions as Phase II. The Phase I project …

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Lazuli-Landing-Union-City
Affordable HousingCaliforniaDevelopmentNewsWestern

Mid-Pen Housing Breaks Ground on Lazuli Landing in Union City, California

by Lynn Peisner

UNION CITY, CALIF. — MidPen Housing has begun construction of Lazuli Landing, an 81-unit affordable housing property in Union City’s Decoto neighborhood. The one-, two- and three-bedroom units will be reserved for residents earning between 20 to 60 percent of area median income, which ranges from yearly salaries of $31,690 to $95,880 for a family of four. Prospective residents who live and work in Union City or Alameda County will be given preference over non-local renters. Alameda County voters approved $13.2 million for the project. In addition to the City …

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