Development

Kimberly-Ridge-NC
Affordable HousingDevelopmentFinanceNewsNorth CarolinaSoutheast

LEDG Completes Renovation of North Carolina Affordable Housing Property

by Lynn Peisner

KANNAPOLIS, N.C. — LEDG Capital has completed the $5.5 million renovation of Kimberly Ridge, a 76-unit property in Kannapolis the private affordable housing investor acquired in April 2024. Kannapolis is 28 miles northeast of Charlotte. During the 11-month rehabilitation effort at Kimberly Ridge, LEDG installed new kitchens, bathrooms, lighting fixtures and energy-efficient heating and cooling systems in all units and replaced roofs and repaired siding, gutters and parking surfaces. New community amenities and security features were added, and six apartments were modified to meet accessibility standards for the mobility impaired. …

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Coyote-Creek-San-Jose
Architecture & DesignCaliforniaDevelopmentNewsWestern

KTGY, Hanover Co. Break Ground on Market-Rate Community in Bay Area Mixed-Use Project

by Lynn Peisner

SAN JOSE, CALIF. — Developer Hanover Co. and architect KTGY have begun construction of Hanover Parkside, the first residential building located within Coyote Creek Village, a 22-acre mixed-use development in North San Jose. KTGY designed the three market-rate buildings, comprising 1,140 units, within 9.3 acres of the project. The master plan also includes 154 for-sale townhomes developed by SummerHill Homes and 136 affordable rental apartments that The Pacific Cos. will deliver in future phases. The first building, Hanover Parkside, is slated for completion by the fourth quarter of 2027. The …

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Tricon-Garland-Texas
Build-to-RentDevelopmentNewsTexas

Tricon Opens Two BTR Projects in the Dallas-Fort Worth Metro Area

by Lynn Peisner

GARLAND, TEXAS — Tricon Residential has opened Tricon Garland, a 257-unit build-to-rent project located at 5488 Sandstone Drive in the northeast Dallas suburb of Garland. The community was developed in partnership with HHS Residential. It offers a variety of three- and four-bedroom floor plans. Units feature two-car attached garages and fenced backyards. Community amenities include a dog park and outdoor spaces for children. Additionally, the joint venture developers also have opened Tricon Saginaw, a separate 166-unit BTR community about miles north of Fort Worth. Tricon Saginaw offers three and four-bedroom …

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Cooper-River-Farms-Charleston
DevelopmentNewsSouth CarolinaSoutheast

Woodfield Development Opens Phase II of Cooper River Farms in Charleston

by Lynn Peisner

CHARLESTON, S.C. — Locally based Woodfield Development has opened Phase II of the Cooper River Farms project in Charleston. The new four-story building adds 71 studio, one- and two-bedroom units to the property as well as a new dedicated workstation amenity, a fourth-floor lounge, a community bar, televisions and a pool table. A saltwater pool, a fitness center, nature trails and a dog park were delivered in the first phase. Construction of the second phase began in May 2024. The first phase of development was completed in 2015.

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Welz-Brooklyn
DevelopmentFinanceNew YorkNewsNortheast

Slate Property Group Secures $64 Million Refinancing for Brooklyn Project

by Lynn Peisner

NEW YORK CITY — Slate Property Group has secured a $64 million loan to refinance The Welz, a 162-unit community located at 159 Boreum St. in East Williamsburg, Brooklyn. Starwood Capital is providing the refinancing package. Daniel Fromm of Newmark represented Slate and co-owner Avenue Realty Capital (ARC) in the transaction, securing the three-year, floating-rate loan. Slate and ARC developed the property, opening it in February. It is currently 96 percent leased. Loan proceeds will be used to retire the existing construction loan, cover closing costs and complete the asset’s …

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95-Challenger-Road-Ridgefield-Park
Affordable HousingDevelopmentNew YorkNewsNortheast

KABR Group, Hornrock Properties Break Ground on Six-Story Community in Northern New Jersey

by Lynn Peisner

RIDGEFIELD PARK, N.J. — KABR Group and Hornrock Properties have broken ground on a six-story, 216-unit community at 95 Challenger Road that is set within Ridgefield Park’s Overpeck Corporate Center, a 60-acre mixed use development in Ridgefield Park, located five miles west of Manhattan. Designed by Minno & Wasko Architects and Planners, the building will feature a mix of studio, one- and two-bedroom residences, 22 of which will be set aside as affordable housing. Rent caps were not disclosed. Amenities will include an outdoor pool, a lounge and café, coworking …

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DevelopmentNewsNorth CarolinaSoutheast

Wood Partners Breaks Ground on Alta Durham Summit

by Lynn Peisner

DURHAM, N.C. — Wood Partners will break ground later this month on Alta Durham Summit in Durham. The Atlanta-based developer expects to complete construction of the 312-unit community by summer 2027. The development will replace a former office park and is located adjacent to a newly renovated office building that is home to Durham Technical Community College. Alta Durham Summit includes a mix of one-, two- and three-bedroom layouts in three- and four-story buildings with such amenities as a pool, a dog park and spa and open outdoor spaces. This …

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The-Levi-McDonough
DevelopmentGeorgiaNewsSoutheast

Thompson Thrift Opens the Levi in Metro Atlanta

by Lynn Peisner

MCDONOUGH, GA. — Thompson Thrift has opened The Levi, a 212-unit property in the southern Atlanta suburb of McDonough. Move-ins began in August, and full completion is expected in February 2026. The project is located on 15 acres at 1400 Jr. Grant Blvd., about 28 miles from downtown Atlanta, within the 158-acre master-planned Bridges at Jodeco development. Amenities at the gated community include a 24-hour fitness center, a resort-style pool, firepits, a pickleball court, a dog park and pet spa with a grooming station, billiards and shuffleboard. Equity for the …

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Orchard-Place-Apple-Valley
DevelopmentMidwestMinnesotaNews

Trident Breaks Ground on 135-Unit Development in Twin Cities Metro

by Lynn Peisner

APPLE VALLEY, MINN. — Trident Development has begun construction of Orchard Place Apartments in Apple Valley, 20 miles south of Minneapolis. The community’s 135 units will be offered as studios, one-, two- and three-bedroom floor plans, all housed within one four-story building. Amenities at Orchard Place will include a 24-hour fitness center and yoga studio, a sport court, a business center, outdoor gathering spaces, a rooftop patio, a sky lounge and a central courtyard with a firepit and grills. Residents also will have access to a fenced dog park with …

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Mainstreet-Coconut-Creek
DevelopmentFloridaInvestment SalesNewsSoutheast

Joint Venture Closes on $68 Million Land Sale for South Florida Mixed-Use Development

by Lynn Peisner

COCONUT CREEK, FLA. — A joint venture, consisting of Rosemurgy Properties, 13th Floor Homes, Schmier Property Group and Giles Capital Group, has closed on the $68 million purchase of 170 acres in Coconut Creek for the development of Mainstreet, a mixed-use community. Mainstreet will encompass 12 blocks with a projected build-out value at approximately $1 billion. The multi-phase project will include approximately 80,000 square feet of grocery-anchored retail space, dining and civic amenities. The residential component of the Broward County project will consist of 792 apartment units, 414 townhomes, 148 …

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