Development

The Neutral Project Breaks Ground in Milwaukee on $133.3 Million Mass Timber Building

by Channing Hamilton January 9, 2025

MILWAUKEE — Madison, Wisconsin-based developer The Neutral Project has secured $133.3 million in construction financing for The Edison, a 378-unit project located at 1005 North Edison St. in Milwaukee. Mike Brady, Tara Hagerty and Merrick Evans of JLL Capital Markets arranged the senior financing through Bank OZK and the mezzanine financing through Pearlmark. The Edison will include 308,913 square feet of rentable residential space across 32 stories. The community will offer studio, one-, two- and three-bedroom apartments. Residents will have access to amenities such as a café, fitness center, pool …

January 9, 2025

55 Riverwalk Place in West New York, New Jersey

Development Investment Sales New Jersey News Northeast

IPA Capital Markets Arranges $174 Million in Acquisition Financing for Property in Suburban New York City

by Channing Hamilton January 8, 2025

WEST NEW YORK, N.J. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $174 million in joint venture equity and debt financing for the acquisition of 55 Riverwalk Place, a 348-unit community in West New York, roughly nine miles north of New York City. The property is situated adjacent to the Hudson River and directly across from Manhattan. Built in 2006, 55 Riverwalk Place offers amenities such as a pool, fitness center, yoga studio, business center and grilling stations. According to the property website, units come in …

January 8, 2025

Palladium Lewisville in Lewisville, Texas

Development News Texas

Palladium USA Breaks Ground on $30 Million Mixed-Income Development in Dallas Suburb

by Channing Hamilton January 7, 2025

LEWISVILLE, TEXAS — Locally based developer Palladium USA has begun construction on Palladium Lewisville, a $30 million mixed-income development in Lewisville, approximately 30 miles northwest of downtown Dallas. PNC Bank provided $10.8 million in long-term debt and $13.3 million in equity as part of the financing of the project. Palladium Lewisville will consist of 90 units in one-, two- and three-bedroom floor plans. Planned amenities will include a pool, fitness center, business center, children’s play area and a clubroom with a communal kitchen. The first apartments are expected to be …

January 7, 2025

2020 at Providence in Huntsville, Alabama

Alabama Development News Southeast

WSS Development Opens $100 Million Mixed-Use Project in Huntsville, Alabama

by Channing Hamilton January 6, 2025

HUNTSVILLE, ALA. — WSS Development LLC has completed 2020 at Providence, a $100 million mixed-use community in Huntsville. The two-tower project is situated within the larger 305-acre Village of Providence master-planned development, which also includes a town center featuring more than 800,000 square feet of office, restaurants, retail and hotels. 2020 at Providence consists of 360 apartments, as well as 23,000 square feet of retail space. According to the property website, 2020 at Providence rises seven stories and offers one-, two- and three-story floor plans. Monthly rates begin at $1,500 …

January 6, 2025

Development Finance Florida News Southeast

Terra Receives $291 Million Financing Package for Mixed-Use Development in Miami

by Channing Hamilton January 3, 2025

MIAMI — Locally based developer Terra has received a total of $291 million in permanent financing for the recently completed first phase of Centro City, a 38-acre mixed-use project located just west of Miami’s Little Havana neighborhood. Phase I comprises 350,000 square feet of retail space, as well as three eight-story apartment buildings that house 470 market-rate units. JVP Management issued a $187 million loan for the development’s multifamily component, while Hudson Bay Capital issued a $104 million loan for the retail component. The funds will be used to pay …

January 3, 2025

Development Finance New Jersey News Northeast

TYKO Capital Provides $245 Million Construction Loan for Jersey City High-Rise Project

by Channing Hamilton January 2, 2025

JERSEY CITY, N.J. — TYKO Capital has provided $245 million in construction financing for The Greyson, a 622-unit mixed-use community in Jersey City’s Journal Square neighborhood. Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella and William Herring of Walker & Dunlop arranged the loan on behalf of the developer, Nasser Freres. Once completed in the first quarter of 2026, The Greyson will rise 28 stories. The building will house studio, one-, two- and three-bedroom apartments. Amenities will include a rooftop pool, fitness center, virtual reality and sports rooms and …

January 2, 2025

Affordable Housing California Development Finance News Western

Impact Housing, Verbena Road Holdings Secure $112.2 Million Construction Financing for Affordable Housing Project in San Diego, California

by Channing Hamilton December 24, 2024

SAN DIEGO, CALIF. — Impact Housing and Verbena Road Holdings have secured $112.225 million in financing for the construction of Mission Gorge, a 483-unit affordable housing development located at 6171 Mission Gorge Road, roughly 8 miles north of downtown San Diego. Charles Halladay, Joseph Choi and Will Bond of JLL Capital Markets worked on behalf of the borrower to secure an $85.225 million, three-year, floating rate senior construction loan through ACORE CAPITAL. JLL also arranged $27 million in preferred equity with Ascendant Capital Partners. Mission Gorge will feature a mix …

December 24, 2024

Build-to-Rent Development Florida Investment Sales News Southeast

Taylor Morrison Acquires Build-to-Rent Development Site in Apollo Beach, Florida

by Channing Hamilton December 24, 2024

APOLLO BEACH, FLA. — Scottsdale, Arizona-based Taylor Morrison has purchased a 25.7-acre development site located within the 2,734-acre Waterset master-planned community in Apollo Beach, roughly 18 miles south of Tampa, Florida. Matt Mitchell and Chris Burtner of Berkadia North and Central Florida arranged the deal on behalf of the seller, Brookfield Residential, which is based in Costa Mesa, California. Taylor Morrison plans to develop a build-to-rent (BTR) community on the site. The asset will feature a mix of one-, two- and three-bedroom single-family rental units, with each residence including a …

December 24, 2024

Affordable Housing Development Finance Massachusetts News Northeast

The Community Builders Secures Financing for Affordable Housing Redevelopment in Boston

by Channing Hamilton December 23, 2024

BOSTON — The Community Builders has received an undisclosed amount of financing for an affordable housing redevelopment project in Boston. The project will convert the former Comfort Inn at 900 Morrissey Blvd. in the Dorchester area into a 99-unit complex that is designed to support individuals previously experiencing homelessness. Units will be reserved for households earning 30 percent or less of the area median income. The property will include office and community spaces on the ground floor. The development is slated for completion in mid-summer 2025. MassHousing provided the financing. …

December 23, 2024

Development Finance News Texas

Central Southwest Texas Development Receives Construction Loan for 321-Unit Project in Austin, Texas

by Channing Hamilton December 19, 2024

AUSTIN, TEXAS — Central Southwest Texas Development has secured a construction loan of an undisclosed amount for Far West Apartments, a 321-unit project in the Northwest Hills neighborhood of Austin. Doug Opalka, C.W. Sheehan and Samantha Jay of JLL arranged the 10-year, floating-rate loan through Poppy Bank on behalf of the borrower. The community will offer one-, two- and three-bedroom apartments with an average size of 800 square feet. Planned amenities include a pool, fitness center, clubhouse, pet spa and conference room. Completion is slated for spring 2027.

December 19, 2024

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