Development

Bakersfield-Apartments
CaliforniaDevelopmentFinanceNewsWestern

BWE Arranges $61 Million Construction Loan for Presidio Capital Partners’ Bakersfield Project

by Lynn Peisner

BAKERSFIELD, CALIF. — BWE has arranged $61 million for Presidio Capital Partners to develop the first phase of Park Center at Seven Oaks in Bakersfield. Tom Turnage, senior vice president, and Alex Gregoire, vice president, both in BWE’s Irvine office, originated the four-year, floating-rate, interest-only construction loan with a 12-month extension from a super-regional bank. Park Center at Seven Oaks will include a total of 520 units when fully complete. Phase I will include 352 units. This initial phase will feature 17 residential buildings as well as a leasing office, …

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Core-Arvada
Build-to-RentColoradoDevelopmentLeasing & MarketingNewsWestern

Core Opens Leasing at Denver-Area Asset

by Lynn Peisner

ARVADA, COLO. — Core Spaces is now leasing at Oxenfree Clear Creek, the Chicago-based developer’s build-to-rent asset in Arvada, 11 miles west of Denver. The project includes 116 multi-level townhomes in three- or four-bedroom floor plans. According to Apartments.com, monthly asking rents range from $4,190 to $4,715. Oxenfree Clear Creek features an amenity “fieldhouse,” which includes a fitness center and sauna, sport court and coworking spaces and an additional 22,700 square feet of outdoor amenities including grilling stations, dining and entertainment areas, a playground and greenspace.

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Alta-River-Park
DevelopmentNewsTexas

Wood Partners Breaks Ground in Fort Worth

by Lynn Peisner

FORT WORTH, TEXAS — Wood Partners has broken ground on Alta River Park in Fort Worth. Development of the 365-unit community will be complete by spring 2027. Units will be offered as studios or one-, two-, or three-bedroom floor plans. Amenities include a resort-style pool, pet facilities, a pickleball court, outdoor activity space, bike storage, a sky deck and direct trail access to the Trinity Clearfork trail system, which is an interconnected network of hiking trails spanning approximately 100 miles.

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Paradise-Gardens-Dallas
Affordable HousingDevelopmentFinanceNewsTexas

LEDG Closes Financing to Preserve and Renovate Dallas Affordable Housing

by Lynn Peisner

DALLAS — LEDG Capital has secured the financing necessary to convert an existing mixed-income property to an all-affordable community and to complete a $5.2 million renovation. Under the plan, the 90 market rate units at Paradise Gardens will be converted to affordable housing for 30 years under a Low-Income Housing Tax Credit agreement, while the Housing Assistance Payment contract protecting the remaining 23 units, which was due to expire in May 2025, will be renewed for 20 years. Under the new rent and income restrictions, apartments will be affordable to households …

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Presidium-Tech-Ridge-Austin
DevelopmentNewsTexas

Development Wraps on Austin’s Presidium Tech Ridge

by Lynn Peisner

AUSTIN, TEXAS — Locally based developer Presidium has completed construction of Presidium Tech Ridge in Northeast Austin. The 358-unit community was built on 14 acres, 4 of which were preserved as park land with access to a spring-fed creek and walking trails. Humphreys & Partners was the architect. The community was designed to serve workers in the tech industry, representing about 16 percent of the metro area’s workforce, according to the Austin Chamber. Sustainable features include a centralized hot-water system meant to reduce energy usage, thermal windows, energy-saving appliances, electric-vehicle …

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The-Perrin
DevelopmentFinanceFloridaNewsSoutheast

Empira Group Secures $111 Million Loan, Breaks Ground on The Perrin in Miami

by Lynn Peisner

MIAMI — Newmark has arranged a $111 million construction loan, funded by Goldman Sachs, for the construction of The Perrin in Miami. The borrower and developer, The Empira Group, has broken ground on the 26-story, 310-unit project in the Brickell neighborhood. Construction is slated for completion in 2028. The project will include 2,500 square feet of ground-floor retail, 380 parking spaces and a mix of studio to three-bedroom units. Amenities include a fitness center with a yoga room, coworking spaces, a resort-style pool with cabanas and grills and a rooftop …

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Tuxedo-Related-Cos.
DevelopmentNew YorkNewsNortheast

Related Cos. Breaks Ground on Tuxedo Reserve in Hudson Valley

by Lynn Peisner

TUXEDO, N.Y. — The Related Cos. has begun construction of Tuxedo Reserve, a 1,200-acre mixed-use project with 92 apartments in Tuxedo, about 40 miles northwest of Manhattan. The project, designed by Aufgang Architecture, includes a downtown area called Main Street with four buildings, including the multifamily units, as well as an area called Market Square and The Village that will include retail, restaurant and entertainment space. Completion is slated for approximately early 2027. Amenities and future tenants at the project include a grocery store, café and a seasonal ice-skating rink …

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Valley-View-Park
DevelopmentNew JerseyNewsNortheast

KRE Group Completes Valley View Park in East Hanover

by Lynn Peisner

EAST HANOVER, N.J. — Kushner Real Estate (KRE) Group has completed construction of Valley View Park, a 239-unit community in East Hanover, about 27 miles west of New York City. Handel Architects designed the community in collaboration with Major Architects and Minno & Wasko Architects and Planners. There are more than 40 different floorplans available, and monthly asking rental rates start at approximately $2,500. All buildings at Valley View Park face a central green. Amenities include a pool, outdoor fireplaces, grills, outdoor dining areas and an outdoor bar, a gaming …

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Jefferson-Bonnie-Brae
Affordable HousingDevelopmentNewsTexas

Berkadia Arranges $132 Million to Finance Denton Workforce Housing Development

by Lynn Peisner

Denton, Texas — Berkadia has arranged approximately $132 million in loans through its newly launched construction-to-permanent financing program. The loan proceeds will fund building and mortgage costs of Jefferson Bonnie Brae, an affordable housing development in the Dallas suburb of Denton. JPI is the merchant developer. When complete, the project will be solely owned by the Denton Housing Authority. Senior Managing Director Tim Leonhard of Berkadia Affordable Housing arranged the financing. The property will include 461 units, half of which will be reserved for families earning no more than 80 …

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ANF-South-Pointe
DevelopmentFloridaNewsSoutheast

ANF, Graham Cos. Complete Construction of South Pointe in Miami Lakes

by Lynn Peisner

MIAMI LAKES, FLA. — General contractor ANF and developer The Graham Cos. have completed construction of South Pointe, a mixed-use project in Miami Lakes in Northwest Miami-Dade County, about 16 miles from downtown Miami. Wolfberg Alvarez & Partners was the architect. South Pointe spans approximately 8 acres acres along Commerce Way. The community features 179 units and 17,063 square feet of ground-floor retail space across three four-story buildings set alongside a lake. Amenities include a pool, wellness center, dog park, basketball court, meeting rooms, gazebos, 370 parking spaces and electric …

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