Development

Army-Navy-Tampa
DevelopmentFloridaNewsSoutheast

City of Tampa Taps PMG Affordable for Downtown Redevelopment

by Lynn Peisner

TAMPA, FLA. — The City of Tampa has selected PMG Affordable to lead a redevelopment in North Downtown Tampa that will include 1,150 units of new rental housing, 70 percent of which will be affordable. Specific rent restrictions, a project cost or development timeline were not disclosed. The city-owned land consists of four properties including an Army-Navy surplus store that was in business from 1938 until 2013. The development team also includes the Tampa Housing Authority, Bank of America Community Development Co. and DuCon, a Florida-based development and construction firm. …

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Ashton-Oaks-Tampa
Build-to-RentDevelopmentFloridaNewsSoutheast

Crescent Communities, Heitman Break Ground on BTR Project in North Tampa Bay

by Lynn Peisner

TAMPA, FLA. — Crescent Communities has broken ground on HARMON Ashton Oaks in Tampa, marking the sixth and final collaboration of the first round of joint-venture developments with Heitman. The 115-unit townhome community is in the Wesley Chapel neighborhood of the Tampa metro region. Set across 28 acres at the intersection of State Road 54 and Ashton Oaks Boulevard, HARMON Ashton Oaks will be complete later this year. The community consists of three- and four-bedroom, two-story townhomes averaging approximately 1,800 square feet. Amenities include a resort-style pool with cabanas and …

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Ascent-at-Hover-Longmont
Affordable HousingColoradoDevelopmentNewsWestern

Pennrose Opens Affordable Housing Community in Longmont, Colorado

by Lynn Peisner

LONGMONT, COLO. — Pennrose and Longmont Housing Authority (LHA) have completed the $39 million Ascent at Hover Crossing, a 75-unit affordable housing community with an early childhood education center in Longmont. Ascent at Hover Crossing was designed with families and children in mind, offering a mix of one-, two-, three- and four-bedroom units across two buildings. The apartments are available for a variety of incomes, with units ranging from 30 to 80 percent of area median income, which equates to an annual salary of approximately $31,650 to $84,400 for a …

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Jules-Los-Angeles
CaliforniaDevelopmentNewsWestern

High Street Residential Breaks Ground on 281-Unit Jules in Los Angeles

by Lynn Peisner

LOS ANGELES — High Street Residential, a subsidiary of Trammell Crow Co., and joint venture partner Haseko North America, has broken ground on Jules San Pedro. Located in the San Pedro Waterfront Arts District in Los Angeles, the development will be comprised of 281 apartments and 1,276 square feet of ground-floor retail space. The eight-story community, designed by KFA Architecture, will offer a mix of studio, one- and two-bedroom residences. The project’s amenity program is centered around its rooftop, which includes a lounge and deck with harbor views. The property …

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Brookside-at-NoDa-Charlotte
DevelopmentNewsNorth CarolinaSoutheast

RangeWater to Break Ground on 316-Unit Charlotte Property

by Lynn Peisner

CHARLOTTE, N.C. — RangeWater Real Estate and equity partner ParkProperty Capital plan to break ground in late March on an unnamed project in the NoDa (North Davidson) area of Charlotte. First move-ins are slated for completion by 2027. RangeWater’s in-house contractor RangeWater Construction will serve as builder, marking the subsidiary’s fifth overall project and its first in North Carolina. The 16.7-acre site at 200 Atando Ave. will be home to 316 studio through three-bedroom units and amenities such as a pool courtyard with outdoor dining and grilling areas, a flexible …

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Northpoint-on-Jarvis-Creek-Hilton-Head
Affordable HousingDevelopmentNewsSouth CarolinaSoutheast

CF Evans Construction Breaks Ground on Hilton Head Workforce Project

by Lynn Peisner

HILTON HEAD, S.C. — CF Evans Construction has broken ground on Northpoint on Jarvis Creek, a 157-unit workforce housing project on Hilton Head Island. The Town of Hilton Head Island, OneStreet Residential and Royal Bank of Canada Community Investments (RBC-CI) are leading the public-private development team. Under the terms of the partnership, the Town provides: a 65-year ground lease; $1 million to support eligible site work with contributions secured from the American Rescue Plan Fund; affordability covenants to maintain a workforce neighborhood in perpetuity; zoning entitlements; and long-term programming support. …

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2350-W-Higgins-Hoffman-Estates
DevelopmentIllinoisInvestment SalesMidwestNews

Synergy Construction Buys Seven Acres in Chicagoland for Luxury Development

by Lynn Peisner

HOFFMAN ESTATES, ILL. — SVN Chicago Commercial has arranged a $3.7 million land sale in Hoffman Estates, approximately 30 miles northwest of Chicago. The 7.2-acre parcel at 2350 W. Higgins Road is adjacent to a 101,769-square-foot shopping center and is the former site of a Kmart and a Mendard’s store. The buyer, an affiliate of Chicago-based Synergy Construction Group, is planning to develop a 330-unit luxury apartment project on the site. The sellers were Depa Holding Co., based in The Netherlands, and its U.S. partner Caruso Development. The Village of …

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DevelopmentGeorgiaInvestment SalesNewsSoutheast

Alliance Residential Acquires Land in North Atlanta for 300-Unit Luxury Project

by Lynn Peisner

ATLANTA — Alliance Residential Co. has acquired approximately 3.7 acres of land in Atlanta’s Vinings/Smyrna area for the development of Broadstone Lola, a 300-unit luxury property. Designed by Brock Hudgins Architects, Broadstone Lola will offer floor plans ranging from 600-square-foot junior one-bedrooms to 1,100-square-foot two-bedroom units. Interiors will include quartz countertops, stainless-steel appliances and plank flooring.   Amenities include a resort-style saltwater pool and landscaped deck with grill stations, a grab-and-go market, a fitness center and a gaming lounge. The community will also offer a clubroom with an indoor fireplace, …

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310-West-Huron-Chicago
DevelopmentFinanceIllinoisMidwestNews

JLL Arranges $44.1M in Construction Financing for Chicago’s 310 West Huron

by Lynn Peisner

CHICAGO — JLL has arranged $44.1 million in construction financing for the joint venture developers of 310 West Huron, a 149-unit project in Chicago. The financing consisted of a $38.1 million loan provided by CIBC and $6 million in preferred equity from N3 Capital Management. Third Coast Real Estate and N3 Capital Management are the developers behind the nine-story project, which is situated in the River North neighborhood. Units will be offered as studios, one- and two-bedroom floor plans, including 11 two-story units with private patios. Amenities include a rooftop …

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HARMON-Clemmons-Wake-Forest
DevelopmentNewsNorth CarolinaSoutheast

Crescent Communities Buys Land for Future JV Project With Heitman in Winston-Salem, North Carolina

by Lynn Peisner

WINSTON-SALEM, N.C. — Crescent Communities, in partnership with Heitman, has closed on a 21-acre land sale for the future development of HARMON Clemmons, a 154-unit build-to-rent community in Winston-Salem. The joint venture partners plan to break ground later this year. The site will be comprised of two-, three- and four-bedroom townhomes as well as a pool with a clubhouse and cabanas, a multipurpose green space and a lawn for outdoor events. Hagen Engineering will serve as the civil engineer, LandDesign as the landscape architect, Vinyet as the townhome architect, Cooper …

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