Development

Oxxford-Lofts-West-Loop-Chicago
Affordable HousingDevelopmentIllinoisMidwestNews

Missner Group, Base 3 Begin Construction on $42M Industrial-to-Residential Project in Chicago

by Lynn Peisner

CHICAGO — The Missner Group and Base 3 have begun construction of Oxxford Lofts, an industrial-to-residential project in Chicago’s West Loop area that is a redevelopment of the former Oxxford Clothes factory, built in 1910, into a 112-unit community. Twenty percent of units at the new Oxxford Lofts will be set aside as affordable housing. Rent restrictions were not disclosed. Plans for the $42 million gut-renovation project include all new building systems and upgraded sustainability features. The development will also include a rooftop deck, fitness center, coworking space and secure …

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The-River-Chester
DevelopmentNewsSoutheastVirginia

Emerson Cos., Philip Roper Open The River Apartments in Chester, Virginia

by Lynn Peisner

CHESTER, VA. — Emerson Cos. and Philip Roper have opened the The River Apartments, consisting of 201 one-, two- and three-bedroom units in Chester, approximately 16 miles south of Richmond. The project team also included 2PA as architect, Highmark Engineering as civil engineer, KBS as general contractor and Focus Design as interior designer. Cite Design was the landscape architect, and Burke & Herbert Bank provided construction financing. Capital Square Living, a subsidiary of Capital Square, is the property manager. Amenities at the community include a saltwater pool, fitness center, grilling …

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The-Vail-West-Caldwell
DevelopmentFinanceNew JerseyNewsNortheast

CBRE Arranges $30.7M in Construction Financing for The Vail in West Caldwell, New Jersey

by Lynn Peisner

WEST CALDWELL, N.J. — CBRE has arranged $30.7 million in construction financing for The Vail, a 92-unit, four-story community at 780 Passaic Ave. in West Caldwell. Twenty percent of the units will be designated as affordable. Rent restrictions were not disclosed. The borrower is Accordia Real Estate, and the lender is Principal Financial. CBRE’s Matthew Pizzolato, Josh Stein, Jason Gaccione, Shawn Rosenthal, Jake Salkovitz, Lauren Weinstein and Justin Helbling led the financing. The property will feature a fitness center, coworking areas, a dog park, grilling stations and covered parking. A …

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Normandy-Cove-Jacksonville
Affordable HousingDevelopmentFloridaNewsSoutheast

Housing Trust Group Breaks Ground on Normandy Cove in Jacksonville, Florida

by Lynn Peisner

JACKSONVILLE, FLA. — Housing Trust Group (HTG) has secured financing and begun construction of Normandy Cove, a 144-unit affordable housing community in the Westside area of Jacksonville. Apartments will be reserved for income-qualifying renters earning up to 30, 60 and 70 percent of area median income, with monthly asking rents ranging from $470 to $1,716. Half of Normandy Cove’s units will be specifically for active-duty military members and veterans, including some units solely for veterans experiencing homelessness. HTG is partnering with local organizations Hope4Veterans and I.M. Sulzebacher Center for the …

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Albion-Lawrenceville-Pittsburgh
DevelopmentNewsNortheastPennsylvania

Albion Residential Completes Pittsburgh Development

by Lynn Peisner

PITTSBURGH — Albion Residential has completed and opened Albion Lawrenceville, a 267-unit community in Pittsburgh’s Upper Lawrenceville neighborhood. The six-story property is comprised of studios, one- and two-bedroom units and 5,700 square feet of retail space. Amenities include a fitness center with boxing equipment, weights and a yoga studio; an arcade-game room with a bar; a rooftop terrace with lounge seating, grills and a fire pit; and a courtyard. Initial resident move-ins began in March. The architect was Harthorne and Plunkard, and First National Bank along with First Commonwealth Bank …

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Charleston-Ridge-New-Port-Richey
DevelopmentFloridaNewsSoutheast

Dobbins Group Breaks Ground on Charleston Ridge in New Port Richey, Florida

by Lynn Peisner

NEW PORT RICHEY, FLA. — Dobbins Group has broken ground on Charleston Ridge Apartments, a 230-unit community in New Port Richey, approximately 37 miles northwest of Tampa, Florida. Capstone Building Corp. is the general contractor. Charleston Ridge will feature six two-bedroom townhomes above 10,000 square feet of commercial space and four four-story apartment buildings with 224 units. Amenities include a clubhouse, fitness center, lounge, tenant market, pool, electric vehicle charging stations and community-wide Wi-Fi. Completion is slated for 2027. Headquartered in Birmingham, Alabama, Dobbins Group is a multifamily investment and …

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Twelve03-Charlotte
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

The Fallon Co. Secures $100.5M in Construction Financing for Twelve03 at Centre South in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — JLL has arranged $100.5 million in debt and equity for the construction of Twelve03 at Centre South, a 329-unit mixed-income community in Charlotte. Boston-based The Fallon Co. is the developer and borrower. The debt was secured through TD Bank, while RXR Realty Investments was the equity source. JLL’s Taylor Allison, Alexis Kaiser and Ryan Mueller handled the transaction. Led by The Fallon Co. in partnership with Charlotte-based Inlivian, Twelve03 is the first phase of Centre South, a $500 million, 16.7-acre mixed-use development. When complete, the project will …

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The real cost of those choices plays out over years: in maintenance calls, turnover time, mold remediation, resident complaints and, ultimately, rent premiums lost or captured. — Melissa Schroeder, VP of Business Development, Mincey Marble
Content PartnerDevelopmentIndustry ContentOperations

Beyond the Bid: Why Bathroom Material Choices Follow You for 15 Years

by Jaime Lackey

Developers building new multifamily projects scrutinize every line item — and bathroom materials are no exception. But the bid price on tile, fiberglass or cast marble shower panels and pans tells only part of the story. The real cost of those choices plays out over years: in maintenance calls, turnover time, mold remediation, resident complaints and, ultimately, rent premiums lost or captured. Over a 10- to 15-year hold period, bathroom material selection impacts maintenance budgets, unit turnover speed, resident satisfaction and asset value. And yet it’s still treated as a …

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Leena-Ocala-2
DevelopmentFinanceFloridaNewsSoutheast

Merrimac Ventures Secures $62.5M to Construct Leena Ocala

by Lynn Peisner

OCALA, FLA. — Merrimac Ventures and Southern Waters Capital have secured $62.5 million in construction financing from ACORE CAPITAL to fund development of Leena Ocala, a 360-unit community in Ocala. Located on a 36-acre site at SW 60th Ave. and SW 52nd St., the project will include 300 garden-style apartments across multiple three-story buildings, along with 60 two-story townhome residences. Amenities include multiple walking trails, neighborhood parks, landscaped open areas, a dog park and pickleball courts. A central clubhouse will feature a fitness center and resort-style pool, along with a …

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Skye-topping-out-delray-beach
DevelopmentFloridaNewsSoutheast

ANF Tops Out Skye Apartments in Delray Beach, Florida

by Lynn Peisner

DELRAY BEACH, FLA. — Davie, Florida-based construction firm ANF has topped out Skye Apartments, the second phase of the 50-acre Parks at Delray mixed-use development. Project developers are 13th Floor Investments and Key International, in partnership with CDS International Holdings and Wexford Capital. Skye will include studio, one-, two- and three-bedroom units, ranging from approximately 560 to 1,427 square feet, along with townhomes ranging from 1,670 to 1,770 square feet. Amenities will feature a resort-style pool with cabanas and a bar, parks with jogging trails, barbecue areas, a playground, coworking …

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