Development

Calabash
Build-to-RentDevelopmentNewsNorth CarolinaSoutheast

EYC and Capstone Building Corp. Complete North Carolina BTR Project

by Lynn Peisner

CALABASH, N.C. — General contractor Capstone Building Corp. has completed building Heartsease at Calabash, a $40 million build-to-rent (BTR) project developed by EYC Cos. The development includes 158 cottages on 40 acres. The floor plans are offered as duplexes with one or two bedrooms or standalone homes with one, two or three bedrooms. Calabash is about 25 miles north of Myrtle Beach. Units feature 10‑foot ceilings, private porches and yards, garages or carports, laundry rooms with washers and dryers and valet trash service. Amenities include a clubhouse with full kitchen, …

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Link-at-Boca
DevelopmentFloridaNewsSoutheast

13th Floor Investments to Build Boca Raton TOD with 340 Units

by Lynn Peisner

BOCA RATON — South Florida-based developer 13th Floor Investments will develop Link at Boca, a multifamily transit-oriented development adjacent to the Boca Raton Tri-Rail station. The Tri-Rail is a commuter train that serves the Greater Miami and Palm Beach areas. The developer will complete construction by summer 2027. Link at Boca will consist of eight stories containing 340 market-rate and workforce apartments as well as 24,000 square feet of retail. Rent restrictions on the workforce units were not disclosed. Comras Co. is leading retail leasing. The project is a public-private …

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Shea-Ravines
Affordable HousingDevelopmentMichiganMidwestNews

Woda Cooper, Cherry Health Break Ground on Affordable Housing Near Grand Rapids

by Lynn Peisner

WYOMING, MICH. — Cherry Health and Woda Cooper Cos. have broken ground on Shea Ravines, a 56-unit affordable housing community in Wyoming, about six miles south of Grand Rapids. Shea Ravines will be a LEED-certified, four-story building with an elevator. It will offer 40 one-bedroom and 16 two-bedroom apartments for singles, families and seniors who earn up to 80 percent of area median income. The property will have 20 Permanent Supportive Housing (PSH) units. These units are specifically reserved for people experiencing homelessness or people with disabilities. The PSH units …

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LaAvenida-Apartments
Affordable HousingCaliforniaDevelopmentFeaturesFinanceWestern

Specialized Financial Institutions Help Affordable Housing Developers Get Shovels in the Ground  

by Lynn Peisner

By Noni Ramos Across the country, affordable housing is facing intensifying headwinds. From Oakland to Omaha, developers are navigating rising construction costs, protracted approval processes and a funding landscape that rarely aligns with the urgency or complexity of the work. Public subsidies — while essential — are often insufficient to bring projects across the finish line. These conditions are particularly acute in high-cost regions, but they are playing out in communities of every size and type. In the face of these challenges, community development financial institutions (CDFIs) are stepping up. …

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Astria_Tempe
ArizonaDevelopmentInvestment SalesNewsWestern

Trinitas, Mitsui Fudosan Close on Land for Tower Near ASU

by Lynn Peisner

TEMPE, ARIZ. — Trinitas Ventures and Mitsui Fudosan America have closed on the land sale for Astria Tempe, a 27-story mixed-use tower near Arizona State University. Construction is slated for completion in summer 2027. This is Trinitas’ first collaboration with Mitsui Fudosan America, which is the U.S. division of publicly traded Japanese real estate company Mitsui Fudosan Co. Layton Construction Co. will serve as general contractor, and Niles Bolton Associates is the architect. BMO Bank is the lender on the project. TSB Capital Advisors arranged equity for the development. Development …

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TheHadley
Build-to-RentDevelopmentFloridaNewsSoutheast

Thompson Thrift Opens The Hadley on Florida’s West Coast

by Lynn Peisner

NORTH PORT, FLA. — Thompson Thrift has opened The Hadley in North Port, 35 miles south of Sarasota, Florida. Resident move-ins began in February. Thompson Thrift estimates all construction will be complete by February of 2026. The Hadley is a 268-unit property that sits on 25 acres. Each residence has a private front door entry and private outdoor patio as well as stainless-steel appliances, tile backsplashes, hardwood-style flooring, walk-in closets, full-sized washers and dryers, high-speed internet and smart thermostats. One-, two, and three-bedroom floor plans are available. Community amenities at …

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TerraLane-at-Hudson
ArizonaBuild-to-RentDevelopmentInvestment SalesNewsWestern

TerraLane Buys Land, Breaks Ground on Phoenix Project

by Lynn Peisner

QUEEN CREEK, ARIZ. — TerraLane Communities, the build-to-rent (BTR) division of residential investment firm IHP Capital Partners, has acquired 22 acres in Queen Creek, about 44 miles southeast of Phoenix, for the development of TerraLane at Hudson Station. TerraLane is partnering with general contractor, Hancock Builders, in the construction of TerraLane at Hudson Station. This will be the sixth residential development the two firms are completing together. Mark-Taylor Residential will oversee leasing and property management. Financing for the project is being provided by 400 Capital Management and Western Alliance Bank. …

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Hillcrest-Apartments
CaliforniaDevelopmentFinanceNewsWestern

Affinius Capital Provides $54.7 Million of Preferred Equity to Build Thousand Oaks Project

by Lynn Peisner

THOUSAND OAKS, CALIF. — Affinius Capital has provided $54.7 million of preferred equity for the ground-up development of Hillcrest Apartments, a project The Latigo Group is developing in Thousand Oaks. The four-story property will feature ground-floor retail and 333 units in a mix of one-, two- and three-bedroom floor plans. Latigo estimates the project will be complete by the first quarter of 2028. Amenities include a rooftop terrace, pool, fitness center, coworking spaces, multi-sport simulator and a wellness center with a sauna and cold plunge. Financing was arranged by Bercut …

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MSMX-new-york-city
Affordable HousingDevelopmentNew YorkNewsNortheast

NYC Planning Commission Approves Midtown Manhattan Rezoning Proposal to Add Thousands of New Residences

by Lynn Peisner

NEW YORK CITY — The New York City Planning Commission has approved the Midtown South Mixed-Use Plan (MSMX), a rezoning initiative that could ultimately facilitate the creation of as many as 9,700 new residences across a 42-block section of Midtown Manhattan. The MSMX plan covers four areas centered around Herald and Greeley Square, located between West 23rd and West 40th streets, as well as Fifth and Eighth avenues. The area today is largely defined by commercial and industrial uses, with current land-use rules restricting new housing development. Midtown South is …

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582-Kelley
DevelopmentMassachusettsNewsNortheast

Marcus Partners Breaks Ground Near Providence

by Lynn Peisner

NORTH ATTLEBORO, MASS. — Marcus Partners has broken ground on 582 Kelley, a 304-unit community on Kelley Boulevard in North Attleboro, 15 miles north of Providence, Rhode Island. The project includes a mix of one- to three-bedroom units, a clubhouse, fitness center, coworking space, dog park, community gardens, outdoor fire pits and grills, park space and a pool area. The first homes are expected to be ready in 2026. Marcus Partners has secured an undisclosed amount of infrastructure grants from the state and towns of North Attleboro and Plainville. The …

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