Development

Versant-Bellevue-Washington
DevelopmentNewsWashingtonWestern

High Street Residential, PGIM Begin Construction of Versant Bellevue in Washington State

by Lynn Peisner

BELLEVUE, WASH. — High Street Residential (HSR), a subsidiary of Trammell Cros Co., and PGIM have broken ground on Versant Bellevue, a 351-unit property adjacent to the East Main Light Rail Station in Bellevue. The project is slated for completion in the third quarter of 2028. Located at 11040 Main St., the new development will occupy 1.7 acres and will replace an existing two-story office building. The development team closed on the land on March 13. Chad Waldbaum of JSH Properties represented HSR in the transaction. The architect is Weber …

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Liva-Travelers-Rest
DevelopmentNewsSouth CarolinaSoutheast

Capstone Building Corp. Breaks Ground on Liva in Travelers Rest, South Carolina

by Lynn Peisner

TRAVELERS REST, S.C. — Capstone Building Corp. has broken ground on the $28.1 million Liva in Travelers Rest. Liva will feature 32 three-bedroom townhomes and five garden-style apartment buildings containing a total of 120 units. Greenville, South Carolina-based Clear Mountain Properties is the developer, and Capstone Building Corp. will serve as the general contractor. S3 Capital provided a construction loan for the project back in February. Amenities include a clubhouse, a pool, a bike-storage barn and public walking trails. Completion is slated for 2027.

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4th-&-Harrison-Seattle
DevelopmentNewsWashingtonWestern

JPI, Stream Real Estate Buy Parcel in Uptown Seattle for Future 10-Story Family Community

by Lynn Peisner

SEATTLE — JPI has acquired a development site at 400 4th Ave. W. in Seattle. The Dallas-based developer, in partnership with Seattle-based Stream Real Estate, plans to build a 10-story, 189-unit community on the parcel. The partners have not disclosed specifics about the project but say two- to three-bedroom floor plans designed with families in mind will take priority. Construction is expected to begin in spring 2027.

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DevelopmentNewsNorth CarolinaSoutheast

Alliance Residential Buys Land for Metro Charlotte’s Broadstone Bryton

by Lynn Peisner

HUNTERSVILLE, N.C. — Alliance Residential Co. has closed on a 20.4-acre land sale for the development of Broadstone Bryton, a 359-unit community in Huntersville, 12 miles north of Charlotte. The Arizona-based developer estimates the project will be complete by the second quarter of 2028. The Broadstone Bryton site is adjacent to the Bryton Town Center and part of the 450-acre Bryton master-planned community. Broadstone Bryton will feature 10 three story residential buildings and a freestanding clubhouse. Cline Design Associates is the architect. Amenities to support the one-, two- and three-bedroom …

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Bruce-Thompson-Scott-Manning
Affordable HousingDevelopmentFeaturesInvestment Sales

Opportunity Zone Program Presents Strategic Window for Multifamily and Affordable Housing Investment

by Lynn Peisner

By Scott Manning and Bruce Thompson Real estate developers, investors, and community leaders have a unique opportunity in the coming months to ensure that state officials appropriately designate low-income census tracts that will most benefit from investment dollars related to the federal Opportunity Zone program. Since the enactment of the program in 2017, Qualified Opportunity Zones across all 50 states, the District of Columbia, and U.S. territories have attracted significant private investment, fueling housing development, job creation and economic revitalization in underserved communities. With the current Opportunity Zone program set …

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Alta-Preserve-Allen
DevelopmentNewsTexas

Wood Partners Breaks Ground on Alta Preserve in Allen, Texas

by Lynn Peisner

ALLEN, TEXAS — Atlanta-based developer Wood Partners has broken ground in Allen on Alta Preserve, a 311-unit community located within The Farm mixed-use, master-planned development about 30 miles north of Dallas. Completion is slated for the second quarter of 2027. At build out, residents will have access to pocket parks, a 2.5-acre lake and 2.5 miles of hiking and biking trails that connect to the city’s broader trail system. Alta Preserve marks Wood Partners’ third phase of construction at The Farm. The firm completed Alta at The Farm in 2023, …

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ArborRanch-Denton
Affordable HousingDevelopmentNewsTexas

The NRP Group Breaks Ground on Affordable Housing Development in Denton, Texas

by Lynn Peisner

DENTON, TEXAS — The NRP Group has broken ground on Arbor Ranch, a 297-unit affordable housing community in the Dallas suburb of Denton. The $89.8 million project is slated for completion in 2027. Arbor Ranch is being developed in partnership with the Denton Housing Authority in order to provide rental homes affordable to families earning between 30 and 70 percent of area median income. According to guidelines set by the U.S. Department of Housing and Urban Development, the median income for a family of four in the Dallas metro area …

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Tallevast-Sarasota
DevelopmentFloridaNewsSoutheast

Milhaus Breaks Ground on Tallevast in Sarasota, Florida

by Lynn Peisner

SARASOTA, FLA. — Indianapolis-based owner-developer Milhaus has closed on a construction loan and land sale and has broken ground on Tallevast, a 231-unit project in Sarasota. BMO provided construction financing, Marble Capital is an equity partner, and FaverGray is serving as general contractor. Completion is slated for November 2027. Located at 2750 Tallevast Road, the property is about three miles east of Sarasota Bradenton International Airport. The community will be comprised of five three-story garden-style buildings that will house studio to three-bedroom apartments ranging from 617 to 1,357 square feet. …

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Skyview-at-Aria-Monroe
DevelopmentFinanceNewsNorth CarolinaSoutheast

Aria Communities Secures $53.5M in Financing for Metro Charlotte Development

by Lynn Peisner

MONROE, N.C. — JLL Capital Markets has arranged $53.5 million in debt and equity for the construction of Skyview at Aria, a 338-unit development in Monroe, 27 miles southeast of Charlotte. South Carolina-based Aria Communities is the developer/borrower. The $42.7 million loan was secured through United Bank Inc. Parse Capital provided the preferred equity. Completion of the project, located on 22 acres at 3613 W. Highway 74, is slated for 2027 and will include a mix of one-, two- and three-bedroom units. Amenities will include a center courtyard with a …

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Larkin-Place-Claremont
Affordable HousingCaliforniaDevelopmentNewsWestern

Jamboree Opens $23.9M Larkin Place, an Affordable Housing Community in L.A. County

by Lynn Peisner

CLAREMONT, CALIF. — Jamboree Housing Corp. has opened Larkin Place, a 33-unit affordable housing community in Claremont, a city in eastern Los Angeles County, about 33 miles east of downtown Los Angeles. Larkin Place is intended to serve low-income and formerly homeless individuals and is comprised of eight studios and 24 one-bedroom units reserved for households earning no more than 30 percent of area median income. A manager will occupy the remaining unit.   Several public and private financial partners participated in bringing the $23.9 million development to fruition. Los …

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