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Development

Baisley Pond Park Residences
Affordable HousingDevelopmentNew YorkNewsNortheast

Partnership Begins Leasing 318-Unit Affordable Housing Redevelopment in Queens

by Channing Hamilton

NEW YORK CITY — A partnership between locally based developer Slate Property Group and RiseBoro Community Partnership has begun leasing Baisley Pond Park Residences, a 318-unit affordable housing redevelopment project in Queens. The property is a conversion of the 350-room JFK Hilton Hotel, which was originally built in 1987. Situated in the Jamaica neighborhood of Queens, the complex offers studio, one- and two-bedroom units. Amenities include a fitness center, computer lounge and multiple common rooms. Monthly rents range from $784 for a studio to $1,493 for a two-bedroom apartment. As …

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The Winslow
DevelopmentFeaturesNortheastOperationsWashington, D.C.

Construction Firms Grapple with Economic Uncertainty, NMHC Survey Shows

by Channing Hamilton

WASHINGTON, D.C. — Economic uncertainty has continued to be a primary concern for multifamily construction and development firms. More than half say current and future projects have experienced construction delays, according to the National Multifamily Housing Council’s (NMHC) Quarterly Survey of Construction & Development Activity. Fifty-eight percent of respondents stated they had experienced construction delays between January and March in the jurisdictions in which they operate. The most frequently cited causes for delays were economic uncertainty (68 percent) and economic feasibility (68 percent); followed by permitting, entitlement and professional services (58 percent); availability of construction …

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DevelopmentNewsTexas

Trademark to Develop 321-Unit Project in Fort Worth, Texas

by Channing Hamilton

FORT WORTH, TEXAS — Locally based owner-operator Trademark Property Co. will develop Westbend Residences, a 321-unit project in Fort Worth’s University District. Units will come in one-, two- and three-bedroom floor plans. A few penthouse units will also be available on the top floor. The property will feature two pools, a fitness center and dog spa, as well as 4,500 square feet of retail space. Construction is slated to begin in the second quarter of 2025 and complete in late 2026. The project is situated on 3.5 acres within Trademark’s …

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The Jasper
ColoradoDevelopmentFinanceNewsWestern

First Stone Development Secures $15.8 Million in Construction Financing for Denver Project

by Channing Hamilton

DENVER — First Stone Development has received $15.8 million in financing for the construction of The Jasper, a property located at 4353 Tennyson St. in Denver’s Berkeley neighborhood. The Jasper will offer 34 apartments and 2,700 square feet of street-level retail space. Phillip Gause and Jim Wilkins of Marcus & Millichap Capital Corp.’s Denver office worked on behalf of the borrower to secure $2 million in preferred equity and $13.8 million in debt. The construction loan was placed with a debt fund and features a two-year term.

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Slate
DevelopmentMidwestNewsOhio

Milhaus, Parse Capital Break Ground on 306-Unit Community Near Cincinnati

by Channing Hamilton

SPRINGDALE, OHIO — Milhaus has partnered with Parse Capital to break ground on Slate, a 306-unit project in Springdale, approximately 19 miles north of Cincinnati. Located at 505 W. Crescentville Road, Slate will offer 216 garden-style apartments and 90 townhomes across 22 buildings. Planned amenities include a resident lounge, pool, coffee bar, fitness center and bark park. First Financial Bank is providing financing for the development, which is slated for completion in the spring of 2026.

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Coles Street Apartments
DevelopmentFinanceNew JerseyNewsNortheast

The Hekemian Group Secures Financing for 465-Unit Project in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — The Hekemian Group has secured financing for the construction of Coles Street Apartments, a 465-unit high-rise community in downtown Jersey City. Located at 305 Coles St., Cole Street Apartments will offer studio, one- and two-bedroom apartments. The average unit size will be 875 square feet. Residents will have access to amenities such as a rooftop pool and lounge, golf simulator, clubrooms, work lounges, a fitness center, concierge service and on-site garage parking. The development will also include 8,142 square feet of ground-level retail space. Thomas Didio, Thomas Didio Jr., Gerard …

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Little River District
Affordable HousingDevelopmentFloridaNewsSoutheast

Miami-Dade County Commission Approves $3 Billion Mixed-Use Development

by Channing Hamilton

MIAMI — The Miami-Dade County Commission has granted final approval for Little River District, a $3 billion mixed-use development situated on 63 acres in Miami’s Little River and Little Haiti neighborhoods. SG Holdings — a joint venture between Swerdlow Group, SJM Partners and Alben Duffie — is the developer. Little River District will offer more than 5,700 affordable and workforce housing units, as well as retail, green spaces and transit infrastructure with the addition of a new train station. Construction is slated to begin in 2026, with a projected development …

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Kōz on Alderwood Mall Blvd
DevelopmentNewsWashingtonWestern

Kōz Development, MSquared Open 199-Unit Property in Lynnwood, Washington

by Channing Hamilton

LYNNWOOD, WASH. — Kōz Development and MSquared have opened Kōz on Alderwood Mall Blvd, a mixed-income community located at 301 Alderwood Mall Blvd. in Lynnwood, 17 miles south of Seattle. The property offers 199 studio, one-bedroom and two-bedroom floor plans. Half of the units are reserved for households earning up to 80 percent of the area median income, while the other half are leased at market rate. The $54 million project is situated adjacent to the Lynnwood Transit Center, the northern terminus of the Sound Transit Link rail extension connecting …

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Sean Wolff
DevelopmentNewsPeople NewsTexas

Trammell Crow Hires Sean Wolff as Senior Vice President with High Street Residential

by Channing Hamilton

AUSTIN — Trammell Crow Company (TCC) has hired Sean Wolff as a senior vice president. Wolff will be responsible for sourcing and overseeing new development opportunities for High Street Residential (HSR), the multifamily development subsidiary of TCC. He will report to Brad Maples, managing director and market leader of TCC Austin. Wolff joins HSR from Slate Real Estate Partners in Austin, where he most recently served as a managing director. Wolff has also held positions at Holliday Fenoglio Fowler and Oden Hughes. He received a Bachelor of Arts from The …

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Edgemere Commons A2
DevelopmentNew YorkNewsNortheast

Tishman Speyer to Break Ground on $166 Million Project in Queens

by Channing Hamilton

NEW YORK CITY — TS Communities, the affordable housing platform of Tishman Speyer, is set to break ground on Edgemere Commons A2, a 244-unit affordable housing development in Queens. The community will rise 18 stories at 337 Beach 52nd St. Units will come in studio, one-, two- and three-bedroom floor plans. Edgemere Commons A2 will be affordable for households earning between 40 to 80 percent of the area median income. Additionally, 73 units will be set aside as supportive housing. Social service provider Breaking Ground will operate the supportive housing units. Residents will …

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