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400 Lake Shore in Chicago
DevelopmentIllinoisMidwestNews

Related Midwest Breaks Ground on 635-Unit 400 Lake Shore in Chicago

by Channing Hamilton

CHICAGO — Related Midwest has broken ground on 400 Lake Shore, a two-tower waterfront development located in the Streeterville neighborhood of Chicago’s Near North Side. The first phase of 400 Lake Shore will comprise a 72-story tower featuring 635 units. Of the total unit count, 20 percent (127 units) will be designated as affordable housing. Apartments will come in studio, one-, two- and three-bedroom floor plans. LR Contracting Co., Related Midwest’s in-house contracting company, will construct the first building alongside BOWA Construction. Skidmore, Owings & Merrill designed the project. MAWD …

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DevelopmentLeasing & MarketingNewsTexas

Wood Partners, ParkProperty Capital Open 261-Unit The Albright in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — A partnership consisting of Wood Partners and ParkProperty Capital has opened The Albright, a 261-unit community in Austin’s Burnet neighborhood. Construction on the project completed in May. The Albright now offers one-, two- and three-bedroom floor plans. Units feature smart technology, stainless steel appliances, granite countertops, walk-in closets and full-size washers and dryers. Amenities include: a clubroom; gaming area with a dining table, shuffleboard and pool table; fitness center; entertainment area; pet park; pool; co-working space; and a rooftop Skydeck.

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DevelopmentFinanceIllinoisMidwestNews

Concord Summit Capital Arranges $10 Million in Construction Financing for Property in Chicago

by Channing Hamilton

CHICAGO — Concord Summit Capital LLC has arranged $10 million in mezzanine financing for the construction of a community in Chicago. Once completed, the property will offer amenities such as a fitness center, lounge, game room, private event space, outdoor pool and ground-floor co-working spaces. Daniel Eidson, David Larson and Keegan Burger of Concord Summit arranged the financing, which included a senior loan with a C-PACE component. The lender and borrower were not disclosed.

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Old Cutler Village in Miami-Dade County, Florida
Affordable HousingDevelopmentFloridaNewsSoutheast

Pinnacle Secures $49.9 Million Construction Financing for Affordable Housing Development in Miami-Dade County, Florida

by Channing Hamilton

MIAMI-DADE COUNTY, FLA. — Pinnacle has secured $49.9 million in construction financing for phase II of Old Cutler Village, a 120-unit affordable housing project located at 10455 Old Cutler Road in unincorporated southern Miami-Dade County. Once completed, the building will rise five stories and offer one-, two- and three-bedroom layouts. Units will be available to households earning 30, 60 and 70 percent of the area median income. Construction is expected to be completed in October 2025. 

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ColoradoDevelopmentFinanceNewsWestern

BWE Arranges $39.4 Million Construction Financing for 199-Unit Project in Pueblo, Colorado

by Channing Hamilton

PUEBLO, COLO. — BWE has negotiated a $39.4 million HUD 221(d)(4) loan to facilitate the construction of Pueblo Springs, a 199-unit community in Pueblo. James Swanson of BWE’s Phoenix office originated the non-recourse, fully assumable loan, which features a 40 year, fully amortizing term. Pueblo Springs will offer amenities such as a clubhouse, fitness center, business center, community room, bike storage, pool, BBQ and picnic areas, walking paths, 24-hour emergency staff, and gated entry. The borrower and developer was Arizona-based ESH Development LLC. Colorado Structures Inc. is the general contractor …

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Urban Village at Rosehill Apartments in Garland, Texas
DevelopmentFinanceNewsTexas

Colliers Mortgage Provides $13.9 Million Construction Financing for Urban Village at Rosehill Apartments in Garland, Texas

by Channing Hamilton

GARLAND, TEXAS — Colliers Mortgage has provided a $13.9 million HUD 221(d)(4) loan for the construction of Urban Village at Rosehill Apartments, a 104-unit community in the Dallas suburb of Garland. Jeff Rogers of Colliers Mortgage’s Fort Worth office closed the loan, which carries a 40-year term and amortization. Once completed, the property will comprise a single four-story building. Units will come in one- and two-bedroom layouts. Planned amenities include a pool, dog park, green space, clubhouse, fitness center, community room and business center.

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Build-to-RentDevelopmentNewsTexas

Tower Capital Arranges $47.4 Million Construction Loan for Build-to-Rent Development in New Braunfels, Texas

by Channing Hamilton

NEW BRAUNFELS, TEXAS — Tower Capital has arranged a $47.4 million construction loan for the development of Village at Mayfair, a 217-unit build-to-rent project in the San Antonio suburb of New Braunfels. The non-recourse loan features a three-year term. The community will span 20 acres and offer amenities such as a fitness center, car care station, BBQ grills, and central pool and clubhouse. Units will average 1,023 square feet and include private yards or patios. A construction timeline for the project was not disclosed.

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DevelopmentNew YorkNewsNortheast

Witkoff, Apollo Commercial Real Estate Finance Top Out 52-Story The Brook in Brooklyn

by Channing Hamilton

NEW YORK CITY — Witkoff and Apollo Commercial Real Estate Finance Inc., a publicly traded mortgage REIT managed by an affiliate of Apollo Global Management, have topped out The Brook in downtown Brooklyn. The Brook will be the sixth tallest building in Brooklyn upon completion, according to the development team. The 52-story building will house 591 apartments, as well as 30,000 square feet of amenities and 21,000 square feet of retail space. Thirty percent of units will be set aside as affordable housing. Income restrictions for these units were not disclosed. …

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One Rangers Way in Arlington, Texas
DevelopmentNewsTexas

Texas Rangers, Cordish Top Out 300-Unit One Rangers Way Apartments Near Dallas

by Channing Hamilton

ARLINGTON, TEXAS — Major League Baseball team the Texas Rangers and The Cordish Cos. have topped out One Rangers Way, a 300-unit project in the western Dallas suburb of Arlington. One Rangers Way is the multifamily component of Cordish’s Arlington Entertainment District. The devleopment site is situated less than a mile from Globe Life Field, the home ballpark of the Rangers. The community will offer studio, one- and two-bedroom units. Each of the community’s 52 floor plans are named after Rangers players or significant events, including the team’s 2023 World …

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V by Alta in Orlando, Florida
DevelopmentFloridaNewsSoutheast

Wood Partners Breaks Ground on 219-Unit V by Alta in Orlando, Florida

by Channing Hamilton

ORLANDO, FLA. — Wood Partners has broken ground on V by Alta, a 219-unit development located at 10149 Arise Loop in Orlando. The community will offer a mix of studio, one-, two- and three-bedroom units. Planned amenities include a lobby lounge, clubroom, business lounge, fitness center, game room, pool, pet park with pet wash station, grilling stations, bike racks and EV charging stations. The fifth floor will also feature a Fireworks Lounge, where tenants can watch nightly fireworks from the nearby theme parks.

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