Development

Paseo-LV-Collective
DevelopmentLeasing & MarketingNewsTexas

LV Collective Pre-Leasing Austin High-Rise

by Lynn Peisner

AUSTIN, TEXAS — Locally based multifamily and student-housing developer LV Collective, formerly known as Lincoln Ventures, has launched pre-leasing at Paseo, its new mixed-use property at 80 Rainey St. The 48-story tower will be fully complete and open by October. The developer broke ground on the project in 2023. Paseo offers 557 units as studios or in one-, two- and three-bedroom floor plans as well as four penthouses. Monthly asking rents start at approximately $1,900. Amenities include a pool, deck and bar on the 12th floor with views of Lady …

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Arbello-San-Mateo-CA
CaliforniaDevelopmentFinanceNewsWestern

Martin Group, JPF Land $61 Million Construction Loan for Bay Area Project

by Lynn Peisner

SAN MATEO, CALIF. — IPA Capital Markets has arranged a $61 million loan for The Martin Group and JPF Capital, which are developing Arbello in San Mateo 19 miles south of San Francisco. The mixed-use project, located at 477 9th Ave., will include 120 apartments and 29,000 square feet of office space. According to Martin Group’s website, residential amenities will feature coworking space, a fitness center, a clubhouse, a central courtyard, a rooftop deck, bicycle storage and a dog park. Units will be offered as studios or as one- or two-bedroom …

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Brandi-Campbell-Wood
Affordable HousingArchitecture & DesignCaliforniaDevelopmentIndustry Voices

ADUs in Multifamily Development Are an Old Idea with New Potential

by Lynn Peisner

By Brandi Campbell Wood Forward-thinking multifamily developers are rediscovering a housing type that predates modern zoning: accessory dwelling units (ADUs). An ADU is defined as a smaller, independent residential unit located on the same lot as a detached single-family home, according to the American Planning Association, a nonprofit organization that supports the field of urban and regional planning. What was once commonplace in early 20th-century developments — garden cottages, cluster housing and secondary units within larger properties — is experiencing a renaissance driven by new policy opportunities and compelling financial …

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ArizonaBuild-to-RentDevelopmentNewsWestern

NexMetro Opens Its 22nd Phoenix BTR Project

by Lynn Peisner

PHOENIX — NexMetro has opened Avilla Vista Norte in Phoenix. The 191-unit build-to-rent community is NexMetro’s 22nd development in metro Phoenix, with four additional projects currently under construction in the area.  Avilla Vista Norte offers one-, two- and three-bedroom detached, single-level homes with private backyards and front porches. Amenities at the gated community include storage units, covered parking areas, an electric-vehicle charging station, a resort-style pool and spa, outdoor kitchen and lounge areas, a dog park and dog-washing station, walking paths and open spaces. The community does not place breed …

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The-Faywell-Wheaton
DevelopmentIllinoisMidwestNews

Banner Real Estate Secures $124 Million in Debt and Equity for Suburban Chicago Project

by Lynn Peisner

WHEATON, Ill. — Banner Real Estate Group has secured $124 million in debt and equity and broken ground on The Faywell in Wheaton, 30 miles west of Chicago. The financing includes an $84 million construction loan from PNC Bank and approximately $40 million in joint venture equity, according to Crain’s Chicago Business. The 2.6-acre development site is an assemblage of 13 parcels and involved seven separate sellers. The deal took about five years to put together. The site is adjacent to the Metra Union Pacific West station with service to downtown …

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Magnolia-at-Powell
Build-to-RentDevelopmentFinanceFloridaNewsSoutheast

Agador Spartacus Receives $26 Million Loan for Magnolia at Powell

by Lynn Peisner

WILDWOOD, FLA. — Agador Spartacus has secured a $26 million take-out bridge loan on existing construction debt used to build Magnolia at Powell in Wildwood. The Aventura, Florida-based developer completed the build-to-rent project in January. JLL Capital Markets arranged the financing with a team led by Managing Director Max La Cava, Senior Managing Director Melissa Quinn, Vice President Rob Rothaug and Analyst Jade Starkey. The funding provider of the loan was not disclosed. Magnolia at Powell is located adjacent to The Villages active adult community and features one-, two- and …

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Old-Ivy-Charlottesville
Build-to-RentDevelopmentNewsSoutheastVirginia

Greystar Underway on BTR Project Near UVA

by Lynn Peisner

CHARLOTTESVILLE, VA. — Greystar has broken ground on Old Ivy, a 525-unit community in Charlottesville. The development site is just off the University of Virginia campus, east of Highway 29, between Old Ivy and Leonard Sandridge roads. The project includes a variety of homes, including apartments, standalone dwellings, duplexes and townhomes. More specifically, Old Ivy will be comprised of 336 apartments, with one-, two- and three-bedroom floorplans, and 189 build-to-rent residences, consisting of three-bedroom townhomes as well as three-bedroom standalone homes clustered around green spaces or mini parks, some with …

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Portman-Fairburn
DevelopmentGeorgiaNewsSoutheast

Portman to Develop Mixed-Use Project, with 332 units, Near Atlanta

by Lynn Peisner

FAIRBURN, GA. — Portman has closed on a land deal in Fairburn, an Atlanta suburb, where it plans to develop a 332-unit property with retail and greenspace. The Atlanta-based development company, founded in 1957, will break ground in late July and estimates completion by June 2027. Meadow Glen Village will include a variety of home types across nine buildings, each with its own dedicated parking. It will also feature a town green for resident events as well as public use. The greenspace will be flanked by two 6,000-square-foot retail buildings that …

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Mark-English
Affordable HousingDevelopmentIndustry VoicesOperations

How Accessibility Compliance Gives Affordable Housing Investors a Competitive Advantage

by Lynn Peisner

By Mark English In the affordable housing industry, compliance has often been treated as an obligatory cost of doing business — a box to check, a hurdle to clear. Yet in today’s environment, marked by heightened regulatory scrutiny, increased tenant awareness of their rights and a fiercely competitive landscape for funding and partnerships, this mindset is dangerously outdated. For developers, owners and managers of affordable housing, denial of compliance’s strategic value can carry enormous costs: legal liability, reputation damage, financial penalties and missed opportunities to distinguish one’s organization as a …

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Mill-Landing
Build-to-RentDevelopmentNewsSouth CarolinaSoutheast

Material Capital Partners Buys Land for South Carolina BTR Development

by Lynn Peisner

GREER, S.C. — Material Capital Partners has acquired 25 acres in Greer, 16 miles northeast of Greenville, South Carolina, to develop Mill Landing, a build-to-rent community. The project will consist of 163 single-family, detached homes and townhomes in a mix of three- and four-bedroom floor plans. Each home will feature an attached private garage and a private patio. Amenities will include a clubhouse with coworking and lounge spaces, a resort-style pool, fitness center, a dog park and walking trails. Greystar will serve as the property manager. The developer will break …

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