Development

Alta-Metro-Center-Aurora
ColoradoDevelopmentNewsWestern

Wood Partners, Clarion Partners Break Ground at Metro Center in Aurora

by Lynn Peisner

AURORA, COLO. — Atlanta-based Wood Partners and New York City-based Clarion Partners have broken ground on Alta Metro Center in Aurora. The joint venture expects to complete the 365-unit community by approximately the first quarter of 2028. Alta Metro Center is an Opportunity Zone, transit-oriented project located within the larger Metro Center master-planned community built around a light rail station and bus hub. The multifamily development will include art installations, two pocket parks, seating areas, play zones and outdoor fitness spaces. The community will consist of four four-story buildings with …

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Wrenly-Newnan
DevelopmentGeorgiaNewsSoutheast

Thompson Thrift to Develop Wrenly in Suburban Atlanta

by Lynn Peisner

NEWNAN, GA. — Thompson Thrift will develop Wrenly, a 214-unit property in Newnan, 40 miles southwest of downtown Atlanta. Indiana-based Thompson Thrift expects to welcome residents by April 2027 with full construction completion slated for early 2028. The 29-acre community will consist of six residential buildings with units offered as one-, two- and three-bedroom floor plans. Amenities include a 24-hour fitness center, a pool with a waterfall feature, a firepit with seating areas, grills, a pickleball court, a dog park and a business center.

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Verbena-at-Waterview-Richmond-Texasw
DevelopmentNewsTexas

JV Breaks Ground on Multifamily Project in Suburban Houston’s Waterview Town Center  

by Lynn Peisner

RICHMOND, TEXAS — Locally based Read King and Austin, Texas-based Wayfinder Real Estate have begun construction of Verbena at Waterview in Richmond, 30 miles southwest of Houston. The joint venture anticipates delivering the clubhouse and first units by the third quarter of 2026 with full build out slated for July 2027. Verbena at Waterview is situated on approximately 14 acres within the 134-acre Waterview Town Center retail destination. The community will feature one-, two- and three-bedroom units featuring balconies, patios or yards and such amenities as a resort-style pool, a …

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Laster-Farms-Farragut
DevelopmentNewsSoutheastTennessee

Trinitas, Millstone to Develop $80 Million Community in Suburban Knoxville

by Lynn Peisner

FARRAGUT, TENN. — Trinitas Ventures and Millstone will develop Laster Farms at Turkey Creek in Farragut, 18 miles west of Knoxville, Tennessee. The $80 million development will include 240 units in one-, two- and three-bedroom layouts with monthly asking rents ranging from $1,800 to $2,800. Both joint venture partners are based out of Indiana. Millstone, a development and construction firm, identified and entitled the site and will serve as the general contractor. The developers closed on financing for the project in November. A completion date was not disclosed. Amenities will …

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HaverstockHills-Houston
Affordable HousingDevelopmentInvestment SalesNewsTexas

Fairstead Acquires Houston Affordable Housing Property, Plans Redevelopment for $242 Million Total Investment

by Lynn Peisner

HOUSTON — Fairstead has acquired Haverstock Hills Apartments in Houston’s East Aldine neighborhood. The New York City-based affordable housing developer will renovate the 700-unit property over the next 24 months. The redevelopment and acquisition costs came to $242 million. PNC Multifamily Capital was the debt and equity provider. Harris County Housing Finance Corp. and Rainbow Housing Corp. will continue to provide on-site social services. Located at 5619 Aldine Bender Road, Haverstock Hills comprises 44 two- and three-story buildings spanning 22 acres. Residences include a mix of studios, one-, two- and …

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Pearl-Lake-Point-Sugar-Land
DevelopmentNewsTexas

Morgan, Carlyle Begin Construction of Pearl Lake Point in Sugar Land

by Lynn Peisner

SUGAR LAND, TEXAS — Locally based Morgan, along with partner Washington, D.C.-based Carlyle, has begun construction of Pearl Lake Point, a luxury property at 16435 Creekbend Drive in the southwest Houston suburb of Sugar Land. Pearl Lake Pointe will be a five-story community comprising 376 apartments — including five live-work units — across 6.5 acres. Residents will have access to a resort-style pool, fitness centers, a golf simulator, a fifth-floor sky lounge and a first-floor café. The site also includes 9,940 square feet of commercial office space and a six-story …

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702-Manufacturers-Rd-Chattanooga
Affordable HousingDevelopmentFinanceNewsSoutheastTennessee

American South Capital Partners Commits $24 Million in Equity to Chattanooga Workforce Development

by Lynn Peisner

CHATTANOOGA, TENN. — American South Capital Partners (ASCP) has contributed $24 million in equity to Atlantic Cos.’ workforce housing development project, known as 702 Manufacturers Road, in the Northshore area of downtown Chattanooga. The 278-unit community located on the Tennessee River will include 42 units set aside for renters earning up to 60 or 80 percent of area median income. Completion is slated for the fourth quarter of 2027. Residents will have direct access to a newly built multi-use path and a river launch pad for paddleboards and kayaks. ASCP’s …

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Embrey-Boggy-Creek-Kissimmee
DevelopmentFinanceFloridaNewsSoutheast

PCCP Provides $66 Million Construction Loan for EMBREY’s Metro Orlando Project

by Lynn Peisner

KISSIMMEE, FLA. — EMBREY has closed on the land sale and secured $66 million in construction financing, provided by PCCP, for the development of Boggy Creek, a 300-unit community in Kissimmee. Completion of the three-story garden style project, situated on 13.3 acres, is slated for early 2027. Units will feature granite countertops, stainless steel appliances, wood-style flooring, walk-in closets, detached garages and full-size washers and dryers. Amenities will include a resort-style pool, private cabanas, a clubhouse and business center with private workspaces, a game room, a fitness center, a dog …

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2545-Brockton-Austin
DevelopmentNewsTexas

Portman Breaks Ground on Luxury Community in North Austin

by Lynn Peisner

AUSTIN, TEXAS — Portman has broken ground on 2545 Brockton, a luxury community in North Austin. Atlanta-based Portman expects to deliver the 429-unit mixed-use project by approximately March 2028. Located at 2545 Brockton Drive, the development site is adjacent to The Domain, an office, retail, restaurant and residential destination. Portman’s mid-rise community will feature a mix of studio, one-, two- and three-bedroom floor plans. Thirty-nine of the units will have a private rooftop patio. Amenities include a rooftop pool, greenspace and 6,850 square feet of ground-floor retail. Centerbridge Partners arranged …

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Vistas-at-Villa-Bella-Pueblo
ColoradoDevelopmentFinanceNewsWestern

Brinkman Real Estate Refinances Vistas at Villa Bella

by Lynn Peisner

PUEBLO, COLO. — JLL Capital Markets has arranged a $15.4 million, five-year Fannie Mae loan for the refinancing of Vistas at Villa Bella located at 2195 Alamosa Drive in Pueblo. The borrower, Brinkman Real Estate, has completed a renovation of all 102 units. Updates include new flooring, paint, cabinets, countertops and fixtures. The sponsor also upgraded building exteriors, landscaping and renovated the clubhouse. Vistas at Villa Bella was built in 2009. JLL’s team was led by Director Rob Bova. “This refinancing allows Brinkman Real Estate to optimize their capital structure …

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