Development

Bonham-&-Baker-Frisco
DevelopmentNewsTexas

Hillwood Breaks Ground on Bonham & Baker at Frisco Station

by Lynn Peisner

FRISCO, TEXAS — Dallas-based Hillwood Multifamily has broken ground on Bonham & Baker, a 410-unit community located in the 242-acre master-planned Frisco Station in the Dallas suburb of Frisco. The unit mix is comprised of one- and two-bedroom homes and two- and three-bedroom, two-story townhomes, all with private patios or balconies. Some units will also offer built-in desks, separate home office spaces, mudrooms and butler pantries. A package management locker system, a wine lounge and coffee bar, electric vehicle charging stations, coworking space with private offices and a conference room, …

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Northbend-Atlanta
DevelopmentGeorgiaNewsSoutheast

Developers Secure Land for $605 Million Mixed-Use District in Atlanta

by Lynn Peisner

BROOKHAVEN, GA. — Third & Urban and HighBrook Investors have assembled 30 acres for the redevelopment of Corporate Square, a 1970s-era office park in the Atlanta metro city of Brookhaven. The site, located between Buford Highway and Interstate-85, has been dubbed Northbend in reference to the bend of Peachtree Creek along its northern edge. Atlanta-based developer Third & Urban and West Palm Beach, Florida-based HighBrook, a financial partner, are finalizing partnerships to begin construction for the initial phases of the new mixed-use district, valued at $605 million. The assemblage comprises …

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Morris-Ellison
Affordable HousingDevelopmentFinanceIndustry Voices

How Property Tax Tools Can Spur Affordable Housing Development

by Lynn Peisner

As apartment rents climb and home prices soar, more Americans struggle to find stable, affordable housing. While many factors contribute to this growing affordability crisis one often overlooked but considerable, housing cost is property taxation. After World War II, the American dream was built on the foundation of homeownership. With the GI Bill’s help, returning veterans could purchase homes. Homeownership became a significant source of savings and wealth, enabling families to build equity over time as property values generally appreciated. In effect, homeownership became a form of “forced” savings that …

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Coney-Island-West
Affordable HousingDevelopmentNew YorkNewsNortheast

New York City Selects RYBAK for $350 Million Coney Island Redevelopment Project

by Lynn Peisner

BROOKLYN, NEW YORK — Following a request for proposals, the New York City Economic Development Corp. (NYCEDC) has selected RYBAK Development to build a 505-unit, mixed-income community on Surf Avenue between West 21st and 22nd streets in Coney Island. The project, named Tilyou Towers, was designed by Brooklyn-based IMC Architecture. RYBAK plans to begin construction in 2027 and estimates the project will be complete by 2030. The site was a former parking lot owned by the city. Twenty-five percent of the units at Tilyou Towers will be set as aside …

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Central-at-Old-Concord-Charlotte
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

The Annex Group Begins Development of $57 Million Affordable Housing Community in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — The Annex Group has broken ground on Central at Old Concord, a 200-unit affordable housing community in Charlotte. The building on the 3.5-acre site will include one-, two- and three-bedroom apartments reserved for renters earning up to 70 percent of area median income. The project is cost is approximately $57 million. Completion is slated for summer 2027. Partners on the project include Cline Design, McAdams, Shelter Investment Group, ECS Southeast LLP, August Mack Environmental, Capital Consultants, Drucker and Falk, DELCK Group LLC and Impact Housing Indiana Corp. …

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Helms-Los-Angeles
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

Priority Capital Arranges $28 Million Loan for Los Angeles Development

by Lynn Peisner

LOS ANGELES, CALIF. — Priority Capital Advisory has arranged a $28 million loan on behalf of CityPads, a private equity fund manager and developer with operations based in Chicago and Los Angeles. The senior debt financing is for the development of a 92-unit property in West Los Angeles. Zachary Streit of Priority Capital Advisory brokered the loan along with Lucas Borges of JLL. CityPads has begun construction, and completion is slated for 2026. The property’s unit mix will consist of 38 studios (33 market rate, five affordable), 53 one-bedroom units …

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Affordable HousingDevelopmentFinanceIndianaMidwestNews

KeyBank Provides $66 Million in Construction Financing for Indiana Affordable Housing Development

by Lynn Peisner

LAFAYETTE, IND. — KeyBank Community Development Lending and Investment (CDLI) has provided a $37.2 million construction loan, and Key Commercial Mortgage Group has arranged a $28.8 million permanent loan to finance the construction of Vita Lifestyle Lafayette. The 198-unit affordable housing development is located in Lafayette, approximately 60 miles northwest of Indianapolis. Vita Investment Holdings LLC has partnered with CRF Affordable Housing to develop the project. Vita Lifestyle Lafayette will consist of 159 affordable units and 39 market rate units, including one-bedroom, two-bedroom, and cottage-style units. Affordable units are restricted …

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Versa-Indianapolis
DevelopmentIndianaMidwestNews

Milhaus and Partners Complete Versa in Indianapolis

by Lynn Peisner

INDIANAPOLIS — Milhaus, Gershman Partners and Citimark have opened Versa, a 232-unit community in the Broad Ripple neighborhood of Indianapolis. Located at 6220 Guilford Ave., Versa is comprised of studio, one-, two- and three-bedroom units, including three penthouse apartments with panoramic views of Broad Ripple Avenue. The development also offers 245 parking spaces, 4,000 square feet of retail space and a rooftop deck. Architecture and interior design was provided by DKGr. The property’s name was inspired by the phrase “vice versa.” Amenities include a clubhouse with a game room, a …

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Riverwalk-San-Diego
CaliforniaDevelopmentFinanceNewsWestern

Hines Breaks Ground on $380 Million First Phase of Riverwalk San Diego

by Lynn Peisner

SAN DIEGO — Hines, along with project partners Affinius Capital, Bank OZK, Related Fund Management and Heitman, has begun construction on Phase I of Riverwalk San Diego, a 200-acre transit-oriented mixed-use project situated on a former golf course in the Mission Valley submarket of San Diego. The overall project cost is approximately $3 billion. The groundbreaking follows the securing of $380 million in construction financing, comprising a $278 million senior loan from Bank OZK and a $102 million mezzanine loan provided by Related Fund Management, which originated the investment through …

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Spectrum-Village-Burlington-New-Jersey
DevelopmentNew JerseyNewsNortheast

TFE Buys Property for New Ground-Up Development Near Philadelphia

by Lynn Peisner

BURLINGTON TOWNSHIP, N.J. — TFE Properties has acquired a 13-acre property at the corner of Fountain Avenue and the Burlington Bypass in Burlington Township, 26 miles northeast of Philadelphia. On the site, TFE, a development company based in East Windsor, New Jersey, will begin construction later this year on Spectrum Village, a four-building community that will feature one-, two- and three-bedroom units. A total unit count was not disclosed. Each apartment features a master bedroom, a balcony or patio, a full-sized washer and dryer, and a kitchen with quartz countertops …

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