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Ray Phoenix in Phoenix
ArizonaDevelopmentNewsWestern

Ray, VeLa Development Break Ground on 401-Unit Tower in Phoenix

by Channing Hamilton

PHOENIX — Ray and VeLa Development Partners have broken ground on Ray Phoenix, a 26-story residential tower located within the Roosevelt Row Arts District in Phoenix. Ray Phoenix will offer 401 apartments. The unit mix includes 193 studios, 116 one-bedrooms and 92 two-bedroom residences. The building will total 523,000 square feet. Planned amenities include a fitness center and yoga studio, pool, communal kitchen, lounge with a theater, fireplace lounge, dog wash stations, gardens and workspaces. The property will also offer more than 4,500 square feet of ground-level retail space. Ray …

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38 Jackson Street in Hoboken, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

Madison Realty Capital Provides $97 Million for Industrial-to-Multifamily Conversion Project in Hoboken, New Jersey

by Channing Hamilton

HOBOKEN, N.J. — Madison Realty Capital has provided $97 million in financing for a project in Hoboken that will convert a five-story industrial building into a 110-unit community. Once converted, the complex will rise nine stories. Units will come in one- through five-bedroom floor plans. Planned amenities include a pool, fitness center, clubroom, lounge and grilling areas. The property will also offer 50,000 square feet of retail space, as well as a 300-space parking garage. Construction is underway and is slated to complete in the third quarter of 2025. The …

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An unnamed conversion project by Carr Properties in Alexandria, Virginia
DevelopmentNewsSoutheastVirginia

Carr Properties Plans 234-Unit Office-to-Multifamily Conversion in Alexandria, Virginia

by Channing Hamilton

ALEXANDRIA, VA. — Carr Properties has acquired a vacant office building located at 901 N. Pitt Street in the Old Town neighborhood of Alexandria. The buyer plans to convert the asset into a 250,000-square-foot community. The development team for the project includes SK+I Architecture, as well as interior design firm Edit Lab by Streetsense. The community will offer 234 apartments in studio through three-bedroom layouts, a portion of which will be set aside as affordable housing. The property will also feature below-grade parking, 15,800 square feet of outdoor space, a …

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CaliforniaDevelopmentNewsWestern

CIM Group Opens 69-Unit The Jayne in Los Angeles

by Channing Hamilton

LOS ANGELES — CIM Group has opened The Jayne, a six-story building located at 2555 S. Mansfield Ave. in Los Angeles’ West Adams neighborhood. The Jayne offers 69 units, with six units set aside as affordable. Income restrictions for the affordable units were not disclosed. Units come in studio and one-bedroom floor plans. Community amenities include outdoor gathering spaces, a fitness center, bike racks, storage and Amazon package lockers. The property also includes 5,453 square feet of ground-floor retail space. 

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Prospect Crossing in Bayonne, New Jersey
DevelopmentNew JerseyNewsNortheast

Vida Capital Nears Completion of 44-Unit Prospect Crossing in Bayonne, New Jersey

by Channing Hamilton

BAYONNE, N.J. — Vida Capital is nearing completion of Prospect Crossing, a 44-unit project in the New York City suburb of Bayonne. The building rises five stories and offers studio, one- and two-bedroom apartments ranging from 459 to 1,210 square feet in size. Units feature stainless steel appliances, granite countertops and tile backsplashes. Amenities include a fitness center, lounge, clubrooms and co-working space. Leasing will begin later this month.

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Avalon Merrick Park in Miami
DevelopmentFloridaNewsSoutheast

Mast Capital, AvalonBay Complete 254-Unit Avalon Merrick Park in Miami

by Channing Hamilton

MIAMI — Mast Capital and Avalon Bay Communities have completed Avalon Merrick Park, a 254-unit property located at 3811 Shipping Ave. in the Coral Gables neighborhood of Miami. The community offers studio, one-, two- and three-bedroom apartments. Units range from 456 to 1,530 square feet in size. Amenities include a pool, fitness center, resident lounge with co-working spaces and a pet spa. Arquitectonica designed the community. First Florida was the general contractor on the project.

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The Juniper in Dallas
DevelopmentNewsTexas

Larkspur Capital Underway on 219-Unit The Juniper in Dallas

by Channing Hamilton

DALLAS — Larkspur Capital is currently underway on the development of The Juniper, a 219-unit project located at 4003 Commerce Street in the Exposition Park neighborhood of Dallas. The property is situated on 1.4-acres. The Juniper will feature studio, one- and two-bedroom units, which will range from 567 to 1,992 square feet in size. The community will also include 18 flat-style homes and a number of penthouses. Planned amenities include a pool, dog park, outdoor grilling and dining stations and a clubhouse. Corgan is the project architect, and OHT Partners …

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ArizonaBuild-to-RentDevelopmentNewsWestern

Trilogy Investment Co., Pinnacle Partners Breaks Ground on Build-to-Rent Project in Phoenix Suburb

by Channing Hamilton

AVONDALE, ARIZ. — Trilogy Investment Co. and Pinnacle Partners have begun horizontal construction at Rêve at Avondale Station, a build-to-rent development in the Phoenix suburb of Avondale. The community will comprise 107 units on a 15-acre site. Residences will come in two- and three-bedroom floor plans and will include smart home technology packages. Planned amenities include a clubhouse, pool and dog park. The community will also include sustainability features such as solar panels. Rêve at Avondale Station is Trilogy Investment Co.’s third project in the Avondale area and its fifth …

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DevelopmentGeorgiaNewsSoutheast

High Street Residential Acquires Four Acres Near Atlanta for 350-Unit Development

by Channing Hamilton

BROOKHAVEN, GA. — High Street Residential, the residential subsidiary of Trammell Crow Co., has acquired a four-acre parcel in the Atlanta suburb of Brookhaven. The buyer plans to develop a 350-unit community on the site. The development will be called The Residences at Perimeter Summit. Construction on the project is slated to begin by the end of the year. The project is expected to welcome its first residents in the fall of 2026. The Residences at Perimeter Summit will offer a mix of studio, one- and two-bedroom units with an …

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DevelopmentLeasing & MarketingNewsNorth CarolinaSoutheast

Lansing Melbourne Group, Denholtz Properties Begin Pre-Leasing for 167-Unit Novi Rise in Concord, North Carolina

by Channing Hamilton

CONCORD, N.C. — Lansing Melbourne Group and Denholtz Properties have begun pre-leasing for Novi Rise, a 167-unit community located at 30 Market Street in Concord. The property will rise seven stories. Community amenities include a lounge, fitness center, work pods, conference room, dog wash station and package lockers. Novi Rise will also feature 4,757 square feet of ground-level retail space, which will be leased to Salon Lofts. Novi Rise is scheduled to open on May 15.

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