Development

Museum Parc
DevelopmentFinanceNew JerseyNewsNortheast

Co-Developers Secure $120 Million in Construction Financing for New Jersey Mixed-Income Project

by Channing Hamilton

NEWARK, N.J. — Co-developers LMXD and MCI Collective have received $120 million in construction financing for Museum Parc, a 250-unit mixed-income, mixed-use development located in downtown Newark. Merchants Capital arranged the financing, which consists of a $58 million Freddie Mac nine percent low-income housing tax credit forward permanent loan and a $62 million construction loan from Merchants Bank. Museum Parc will consist of a six-story building and a 12-story structure. Twenty percent of the residences at Museum Parc will be income-restricted. Forty-five units will be reserved for households earning at …

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DevelopmentLeasing & MarketingNewsNorth CarolinaSoutheast

Joint Venture Opens 336-Unit Community in Morrisville, North Carolina

by Channing Hamilton

MORRISVILLE, N.C. — A joint venture between Crescent Communities and GID has opened Novel Morrisville, a 336-unit community located at 218 Southport Drive in Morrisville, roughly 15 miles west of Raleigh, North Carolina. The property offers a mix of studio, one-, two- and three-bedroom floor plans, as well as 10 carriage-style townhomes. Units range from 532 square feet to 2,128 square feet. Amenities include a saltwater pool with cabanas, two-story fitness center, community library, clubroom, full-scale indoor rock-climbing wall, walking and biking trails and an on-site Land of a Thousand …

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Jefferson Morningstar in The Colony, Texas
DevelopmentNewsTexas

JPI Breaks Ground on 373-Unit Development in The Colony, Texas

by Channing Hamilton

THE COLONY, TEXAS — JPI has broken ground on Jefferson Morningstar, a 373-unit project in The Colony, about 25 miles north of downtown Dallas. The garden-style property will offer studio, one-, two- and three-bedroom apartments. Residents will have access to amenities such as a pool, fitness center, dog park, coworking spaces and a clubhouse. The first units are expected to be available for occupancy by early 2027. JPI is partnering with Nomura Real Estate Development Co. Ltd. and Yoram Avneri, the original owner of the land, on the project.

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Matheson-Mill-Broadstone-1
DevelopmentNewsNorth CarolinaSoutheast

Alliance Residential Completes Broadstone Project in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — Alliance Residential Co. has opened Matheson Mill by Broadstone, a 302-unit community in Charlotte’s North Davidson, or NoDa, neighborhood. Matheson Mill by Broadstone consists of one- and two-bedroom units. The Charlotte-based development team included architect Cline Design, civil engineer McAdams Co. and interior designer LS3P. Matheson Mill features a 24-hour fitness center, resort-style saltwater pool and an outdoor dining area with grilling station, pergola and fire pit. The community’s resident clubroom features vintage style arcade games, a gas fireplace and entertainment kitchen. Other amenities include coworking areas, …

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Thirty-One Eleven Sunset in Flower Mound, Texas
DevelopmentNewsTexas

Realty Capital Residential Completes 16-Story Apartment Tower Near Dallas

by Channing Hamilton

FLOWER MOUND, TEXAS — Realty Capital Residential has completed the development of Thirty-One Eleven Sunset, a 16-story residential tower overlooking Lake Grapevine in Flower Mound, about 30 miles northwest of downtown Dallas. The property offers 207 units in a mix of one-, two- and three-bedroom floor plans. Monthly rates begin at $4,000. Amenities include a rooftop pool with a terrace and spa, bar and lounge, dining room, fitness center, golf simulator and guest suits that residents can reserve for visitors. The property also includes a five-level parking garage and 6,000 square …

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Mural Lewis Center in Columbus, Ohio
Build-to-RentDevelopmentMidwestNewsOhio

Joint Venture Breaks Ground on 120-Unit Build-to-Rent Project Near Columbus, Ohio

by Channing Hamilton

LEWIS CENTER, OHIO — A joint venture between Buckingham and Onyx+East has broken ground on Mural Lewis Center, a 120-unit build-to-rent (BTR) project in Lewis Center, roughly 20 miles north of Columbus, Ohio. The community will offer a mix of two- to four-bedroom homes ranging from 902 to 2,685 square feet. Units will include attached two-car garages and private outdoor spaces. The first units will be available for rent beginning in December. Home and yard maintenance services will be included. Residents have access to shared amenities such as a playground, …

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Residences at Mazza in Washington, D.C.
DevelopmentLeasing & MarketingNewsNortheastWashington, D.C.

Tishman Speyer Begins Pre-Leasing 321-Unit Community in Washington, D.C.

by Channing Hamilton

WASHINGTON, D.C. — Tishman Speyer, along with property management firm Bozzuto, has launched pre-leasing at Residences at Mazza, a 321-unit mixed-use project located at 5300 Wisconsin Ave. NW within the Friendship Heights neighborhood of Washington, D.C. The site is situated within a block from the Friendship Heights Metro station. Residences at Mazza will offer 321 apartments, townhomes and penthouses. Amenities will include a coworking lounge, rooftop lounge, fitness center, central courtyard with a lap pool and media room. The property will also include a 70,000-square-foot retail concourse. The design team …

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Affordable HousingDevelopmentNewsNortheastWashington, D.C.

HUD Cuts Contracts for Affordable Housing Developers Under DOGE Directive

by Channing Hamilton

WASHINGTON, D.C. — The Trump administration has halted at least $60 million in financing intended for affordable housing developments across the nation, according to the Associated Press. At the direction of the Department of Government Efficiency (DOGE), the U.S. Department of Housing and Urban Development (HUD) has terminated contracts for at least two of the three organizations in its Section 4 program, which the Associated Press states could stall the development of hundreds of affordable housing projects across the United States. The Section 4 program, also known as the Capacity Building for …

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Affordable HousingDevelopmentNew JerseyNewsNortheast

Walters Underway on Affordable Housing Development in Hainesport, New Jersey

by Channing Hamilton

HAINESPORT, N.J. — New Jersey-based developer Walters is underway on the development of Cornerstone at Hainesport, a 73-unit affordable housing project in Hainesport, roughly 23 miles east of Philadelphia. The property will consist of six buildings. Units will come in one-, two- and three-bedroom layouts. The community will be available to households earning 60 percent or less of the area median income. Amenities include a basketball court, children’s play area and a clubhouse with computer workstations. The first apartments are expected to be available for occupancy by December.

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Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Brisa Builders, PMG Affordable Secure $51.7 Million in Financing for Queens Affordable Housing Project

by Channing Hamilton

NEW YORK CITY — Brisa Builders Development LLC and PMG Affordable have secured $51.7 million in financing for 19-19 Cornaga Ave., a 92-unit affordable housing project located in the Downtown Far Rockaway Special Purpose District in Queens. The financing package includes: Additionally, the developers are leveraging roughly $21.4 million in low-income housing tax credit (LIHTC) equity syndicated by Enterprise, $2.3 million in state LIHTC equity and $41,000 in solar tax credit equity. BWE is providing permanent financing through Freddie Mac. 19-19 Cornaga Ave. will offer a mix of studio, one- …

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