Development

Avilla Railhead
Build-to-RentDevelopmentNewsTexas

NexMetro Opens DFW Build-to-Rent Project

by Lynn Peisner

CLEBURNE, TEXAS — NexMetro Communities has opened Avilla Railhead, a build-to-rent property 32 miles south of Fort Worth, Texas. This is NexMetro’s 16th community developed in the Dallas-Fort Worth metro area. Avilla Railhead includes 211 detached, single-level homes that come as one-, two- or three-bedroom floor plans. Units feature private front porches and backyards, smart-home technology and garages with electric-vehicle chargers. Amenities include a pool and lounge area, outdoor pavilion and grills, a dog park and gaming areas. In addition to Dallas-Fort Worth, NexMetro has developed properties in such Sun …

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The-Declan
DevelopmentNew JerseyNew YorkNewsNortheast

Rockpoint Opens Declan in Weehawken

by Lynn Peisner

WEEHAWKEN, N.J. — Rockpoint has opened The Declan in Weehawken. The 10-story, 298-unit property is located across the Hudson River from Manhattan. Floor plans are offered as studios and go up to three-bedrooms. According to Apartments.com, monthly rental rates range from $3,380 to $7,875. Units feature hardwood-style plank flooring, quartz countertops, stainless-steel appliances and private balconies, patios or terraces. Highlights from the long list of amenities include a landscaped courtyard with grills, an outdoor dining room, a double-sided fireplace and a gaming area. The property also is home to a …

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Opus in Los Angeles
CaliforniaDevelopmentFinanceNewsWestern

BWE Secures $220 Million Refinancing for Luxury Apartments in Los Angeles’ Koreatown

by Lynn Peisner

LOS ANGELES — BWE has arranged $220 million in loans for locally based Jamison Properties to refinance construction debt on Opus, a 428-unit high-rise in Los Angeles’ Koreatown neighborhood. Jamison broke ground on Opus in 2022 and opened the property, which consists of two towers, in 2024. Opus is managed by Greystar. Monthly rental rates range from $3,630 to $4,945, according to Apartments.com. The property was 90 percent leased at the time of the loan closing. BWE’s Max Sauerman, senior vice president, and Tyler Shebeck, vice president in BWE’s Los …

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The-Rail-at-Bound-Brook
DevelopmentNew JerseyNewsNortheast

Denholtz, RWC Open The Rail at Bound Brook

by Lynn Peisner

BOUND BROOK, N.J. — Denholtz Properties and RWC have completed The Rail at Bound Brook, about 45 miles south of Manhattan. Construction of the 143-unit property, located at 100 Hamilton St., began in 2023. The six-story building offers studios and one- and two-bedroom units and amenities such as a fitness center, game room, courtyard and outdoor grilling and dining areas.

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Tempo-at-White-Oak-Lobby
DevelopmentNewsTexas

Marquette Opens Tempo at White Oak in Houston

by Lynn Peisner

HOUSTON — Marquette Cos. has completed and opened Tempo at White Oak, a 304-unit community in the mixed-use White Oak District in Houston’s Woodland Heights neighborhood. Marquette is also the property manager for Tempo and the developer of the mixed-use project, a four-block-by-six-block area with residential, retail, restaurant and entertainment spaces. Tempo connects to the White Oak Music Hall and the new Woodlands Social bar and restaurant. Marquette has two first-floor retail spaces available for lease at Tempo and is also developing commercial space across Keene Street to add bars, …

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Link-at-Douglas-Phase-2
Affordable HousingDevelopmentFloridaNewsSoutheast

Developers Secure $125 Million Loan, Break Ground on Cadence in Miami

by Lynn Peisner

MIAMI — Locally based developer 13th Floor Investments, in partnership with Barings, a subsidiary of MassMutual, has secured a $125 million construction loan from a syndicate of Santander Bank and TD Bank to finance the development of Cadence in Miami. Now under construction, the 35-story tower will include 432 market-rate apartments. About 54 units will be set aside as workforce housing, but specific income restrictions were not disclosed. Developers estimate the project will be complete by February 2028. Cadence is the third residential building to be constructed within the mixed-use, …

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Sunridge
Build-to-RentCaliforniaDevelopmentNewsWestern

Tricon Residential Opens $60 Million Sacramento-Area BTR Project

by Lynn Peisner

RANCHO CORDOVA, CALIF. — Tricon Residential, a subsidiary of global investment firm Blackstone Real Estate, has completed and opened Tricon Sunridge, a built-to-rent (BTR) community in Rancho Cordova, 14 miles east of Sacramento, California. Blackstone Real Estate invested approximately $60 million to develop the community. Project partners included Sares Regis and Signature Homes. The 114-unit homes are offered as three- or four-bedroom floor plans and feature solar panels, fenced-in backyards and electric-vehicle charging outlets within two-car garages.

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Christopher-Cordes
Build-to-RentDevelopmentIndustry Voices

Investors, Take Note of Opportunities in BTR’s Potential to Meet ‘Missing Middle’ Demand

by Lynn Peisner

By Chris Cordes Build-to-rent (BTR) developments continue to set new records each year, with 90,000 units under construction in 2024, according to the National Association of Realtors. Maintaining momentum with 2023 levels, this growth rate represents a 50 percent increase in BTR housing starts since 2021 and relates directly to housing affordability challenges and the rising costs of homeownership. BTR offers renters, particularly aging Americans approaching retirement, housing options with homeownership-like benefits without the maintenance responsibilities and accompanying increasingly prohibitive costs. These benefits include more living space, privacy, yard access …

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Haven-on-Main
Affordable HousingDevelopmentFinanceMidwest

Cinnaire Raises $340 Million Fund for Affordable Housing Development in 11 States

by Lynn Peisner

LANSING, MICH. — Cinnaire, a nonprofit financial services company based in Lansing, has raised $340 million, which will finance 33 affordable housing developments in 11 states. Dubbed Fund 43, the LIHTC financing will back a total of 2,455 affordable housing units. Haven on Main in La Crosse, Wisconsin, will be one of the projects. It will be a 70-unit community including 59 affordable units and 11 market-rate units. Eighteen units will be reserved for individuals with intellectual and developmental disabilities, veterans and those experiencing chronic homelessness. Half of the total …

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Ekos-on-Evans_New-Playground
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners to Develop LIHTC Project in Fort Myers

by Lynn Peisner

FORT MYERS, FLA. — McDowell Housing Partners (MHP) has secured financing and acquired land for Ekos on Evans, an affordable housing development in Fort Myers. Under the directives of Florida’s 4 percent low-income housing tax credit program, residences will be reserved for tenants earning 30, 60 or 70 percent of area median income. The 144-unit property consists of five garden-style buildings with one-, two- and three-bedroom floor plans. Amenities will feature a clubhouse, computer room, fitness center, terrace, grills, pool, a playground and a dog park. Construction of Ekos at …

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