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Artwalk Towers in Jersey City, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

KRE Group Receives $175 Million Construction Loan for 49-Story Project in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — KRE Group has secured a $175 million senior construction loan for the development of Artwalk Towers, a 49-story high-rise project located in Jersey City’s Journal Square neighborhood. Beverly Hills, California-based Kennedy Wilson provided the funding. Artwalk Towers will comprise 595 units. Upon completion, the building will feature a street connector to a PATH train station, pool, barbecue area, gym, coworking spaces and a sky lounge with views of the New York City skyline. The project is slated for completion by the fourth quarter of 2027. KRE …

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Build-to-RentDevelopmentFloridaLeasing & MarketingNewsSoutheast

BB Living Opens 164-Unit Build-to-Rent Community Near Tampa, Florida

by Channing Hamilton

TAMPA, FLA. — BB Living has opened Epperson Ranch, a 164-unit build-to-rent community located at 31921 Conchshell Sail St. in Wesley Chapel, roughly 25 miles north of Tampa. The complex offers three- and four-bedroom townhomes that range from 1,639 to 1,944 square feet. Amenities include a fitness center, pool and spa, dog park and walking trails. Epperson Ranch is the second community in Florida that BB Living has completed, with three more properties underway that are slated to open in 2025. 

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Affordable HousingDevelopmentNewsTexas

LEDG Capital Completes $12 Million Renovation of Affordable Housing Community in Lubbock, Texas

by Channing Hamilton

LUBBOCK, TEXAS — Seattle-based LEDG Capital has completed the $12 million renovation of Southstead, a 244-unit mixed-income property in Lubbock. Southstead was constructed in phases in the 1970s. The community consists of 11 two-story buildings and 14 single-story buildings on a 20-acre site. Of the total unit count, 100 are available at market rates. In addition to upgrading kitchens, bathrooms and HVAC systems, LEDG Capital renovated the community with new roofs, painting, pathways, parking areas, a playground and trash enclosures. Merchants Capital financed the project, which lasted 11 months. According …

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Governor’s Inn in Williamsburg, Virginia
DevelopmentNewsSoutheastVirginia

Breeden Construction Completes $33.5 Million Community in Williamsburg, Virginia

by Channing Hamilton

WILLIAMSBURG, VA. — Breeden Construction has delivered Governor’s Inn, a 164-unit community in Williamsburg, roughly 50 miles east of Richmond, Virginia. An entity doing business as CDG Holdings LLC is the developer behind the $33.5 million project. Governor’s Inn consists of six residential buildings that rise two to four stories. Amenities include a pool, fitness center, outdoor grilling station and a clubhouse.

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Affordable HousingDevelopmentFeaturesInvestment SalesNortheastPennsylvania

How Philadelphia is Leveraging Vacant Land to Solve Affordable Housing Shortage

by Channing Hamilton

Last year, developers in Philadelphia built hundreds of new row houses on vacant, city-owned lots. The houses would sell to new homeowners at affordable prices. Many housing advocates say it’s not nearly enough. While new, luxury apartments charge record-high rents in neighborhoods around Center City, other streets in Philadelphia are still lined with vacant lots strewn with trash. As rents rise across the city, Philadelphia’s new mayor, Cherelle Parker, has promised to produce 30,000 new units of affordable housing over four years. That’s more than 8,000 units of housing per …

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Metro Parc in Hialeah, Florida
DevelopmentFloridaLeasing & MarketingNewsSoutheast

RKW Residential Expands Management Portfolio in Florida with 1,100 Units

by Channing Hamilton

MIAMI, FLA. — RKW Residential has added three new properties totaling 1,100 apartments to the company’s management portfolio in Florida. The firm will oversee the management and leasing of Metro Parc, The Atlantic by Soleste and Vive. Metro Parc is a 559-unit development in Hialeah, approximately 11 miles north of Miami. MG Developer and Baron Property Group are developing the project. Metro Parc is located within Metro Center, a mixed-use development that will feature roughly 2.3 million square feet of residential and retail real estate. The Atlantic by Soleste is a 253-unit project in …

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Shelby Ranch in Austin, Texas
DevelopmentNewsTexas

United Properties Opens 302-Unit Shelby Ranch in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — Minneapolis-based developer United Properties has completed Shelby Ranch, a 302-unit development situated on an eight-acre site in Austin. The first phase of the project delivered about 150 apartments, as well as 3,500 square feet of amenity space and a 1.5-acre pool and courtyard. Shelby Ranch offers studio, one-, two-, and three-bedroom floor plans. Amenities include a workshop, fitness center, co-working space, resident lounge, dog park and chicken coop. The property is a Certified Wildlife Habitat and features honey-producing bees, garden beds, native plants, fruit-bearing trees, rainwater collection, …

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Bishop Momo in Austin, Texas
DevelopmentNewsTexas

United Properties Delivers 274-Unit Bishop Momo in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — Minneapolis-based developer United Properties has completed Bishop Momo, a 274-unit property located in the St. Elmo District of Austin. OHT Partners served as the general contractor. Belshaw Mulholland Architects designed the community. Bishop Momo offers studio, one- and two-bedroom apartments. Amenities include a pool, fitness center, multiple lounges, coffee bar, dog run, conference room, package lockers and grilling stations. The property also includes as 6,000 square feet of ground-floor retail space and structured parking.

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Lock Lane Apartments in Madison, Wisconsin
DevelopmentMidwestNewsWisconsin

Vermilion to Develop 309-Unit Lock Lane Apartments in Madison, Wisconsin

by Channing Hamilton

MADISON, WIS. — Vermilion Development will develop Lock Lane Apartments, a 309-unit project located on an 8.5-acre site in Madison. McShane Construction Co. will construct the property. Potter Lawson is the project architect. JLL arranged equity capital through Quartz Lake Capital and Clarion Partners. CIBC is providing construction financing.  Lock Lane Apartments will consist of two five-story buildings that house 289 apartments, as well as three two-story townhome buildings with 20 units. The property will also include a two-level parking garage. Planned amenities include green roof areas, fitness centers, clubrooms, …

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McAlpine Vista in Charlotte, North Carolina
DevelopmentFinanceNewsNorth CarolinaSoutheast

JLL Capital Markets Arranges $43.6 Million Construction Financing for McAlpine Vista in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — JLL Capital Markets has secured a $43.6 million loan to finance the construction of McAlpine Vista, a 320-unit development in Charlotte. Matthew Schoenfeldt of JLL arranged the three-year, non-recourse, floating-rate loan through Hartford Investment Management Co. (HIMCO) on behalf of the borrower, Vista Residential Partners. Situated on 14.8 acres at 8011 Krenfeld Drive, McAlpine Vista will comprise 320 apartments. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a 7,750-square-foot clubhouse with a fitness center, coworking spaces and a club room, as well …

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