Development

410-N-Elizabeth-Chicago
Affordable HousingDevelopmentIllinoisMidwest

Tree Street Group, Partners Break Ground on Chicago High-Rise

by Lynn Peisner

CHICAGO — Tree Street Group, along with partners Magellan Development Group and Mark Goodman & Associates, have begun construction of 410 N. Elizabeth, a two-tower high-rise community in Chicago’s Fulton Market neighborhood. The project includes 383 units, 77 of which will be designated as affordable housing. Rent restrictions were not disclosed. The 33-story tower represents the first phase of the development. Upon full buildout, the community will comprise 724 total units with 146 earmarked as affordable. Development details of Phase II were not released. The project will feature geothermal design, …

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Herndon-Atlanta
Affordable HousingDevelopmentGeorgiaNewsSoutheast

Construction Wraps Up on Phase II of Atlanta Public Housing Redevelopment

by Lynn Peisner

ATLANTA — Capstone Building Corp. has completed construction of Herndon Square Phase II, a $57 million development that’s part of the larger Legacy at Herndon Square redevelopment in Atlanta’s Westside. Atlanta Housing, Hunt and Pennrose are the developers, and the architect is Thriven Design. Herndon Square Phase II spans 335,348 square feet and consists of a six-story residential building featuring 201 apartments in one-, two- and three-bedroom floor plans. Thirty-one of the units are rented at market rates while the remaining apartments are rent-capped at 30 to 80 percent of …

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12-Halsey-Brooklyn
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

EJS, Hope Street Secure $137.5M ReFi for Brooklyn Development

by Lynn Peisner

NEW YORK CITY — Walker & Dunlop has arranged a $137.5 million refinancing loan for 12 Halsey, a 240-unit mixed-income development in the Bedford-Stuyvesant neighborhood of Brooklyn. EJS Group and Hope Street Capital were the borrowers. The three-year, floating-rate loan was provided by AllianceBernstein. Walker & Dunlop’s Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Diaz, Michael Ianno and Cole Grims led the transaction team. Completed in October 2025, 12 Halsey comprises 240 residential units, with 30 percent designated as affordable under New York’s Affordable …

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Lake-Shore-Drive-Chicago
DevelopmentIllinoisLeasing & MarketingMidwest

Related Midwest Begins Leasing Chicago Tower

by Lynn Peisner

CHICAGO — Related Midwest has begun leasing the north tower of 400 Lake Shore Drive, a 72-story community in Chicago’s Streeterville neighborhood. Full completion is slated for March 2027. The 635-unit north tower is the first phase of a planned two-tower development. Details on development of the second tower have not been disclosed. The building offers two clusters of apartments. One is called The Collection, which spans floors three through 43, and the other is referred to as The Residences, which occupies floors 46 through 70. Each will feature its …

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Havens-at-Hickory-Tree-St-Cloud
Build-to-RentDevelopmentFinanceFloridaNewsSoutheast

Joint Venture Secures $35.1M Refinancing for Newly Completed BTR Project in Orlando Metro

by Lynn Peisner

ST. CLOUD, FLA. — Adam America Real Estate and Stellar Communities have obtained a $35.1 million construction takeout loan for Havens at Hickory Reserve, a newly completed 134-unit townhome build-to-rent community in St. Cloud, about 30 miles south of Orlando. The joint venture secured the financing through lender CoreVest Finance. Walker & Dunlop arranged the loan. Stellar is an Aventura, Florida-based developer, while Adam America Real Estate also is a development firm and is headquartered in New York City. Located at 4896 Stellar Drive, Havens at Hickory Tree Reserve offers …

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Marine-Drive-Buffalo
Affordable HousingDevelopmentNew YorkNewsNortheast

Habitat Starts Construction of First Phase of $600M Affordable Housing Redevelopment in Buffalo, New York

by Lynn Peisner

BUFFALO, N.Y. — The Habitat Co., along with partners Duvernay + Brooks and Bridges Development, an affiliate of the Buffalo Municipal Housing Authority, has started construction of the first phase of the Marine Drive Apartments public housing redevelopment in Buffalo. The $250 million first phase will include 254 affordable apartments across four newly constructed residential buildings. Built in the 1950s, the existing seven-building Marine Drive public housing complex faced aging infrastructure and dated building systems. The three-phase redevelopment will replace the original 616 apartments with approximately 730 new homes. Phase …

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Metro-Parc-Hialeah
DevelopmentFinanceFloridaNewsSoutheast

Baron Property Group Lands $226.5M Refinancing for Miami Project

by Lynn Peisner

HIALEAH, FLA. — Baron Property Group (BPG) has closed on a $226.5 million refinancing for Metro Parc, a 559-unit development in Hialeah that is now 50 percent leased. The financing replaces the project’s construction loan and serves as a bridge to permanent financing. The lenders were Madison Realty Capital and Yellowstone Real Estate. HKS Real Estate Advisors and DIA Capital Group advised BPG. Ben Suky of Bensco arranged the financing. Designed by Modis Architects, Metro Parc is the first phase of BPG’s 2.3-million-square-foot mixed-use development in Hialeah. The property is …

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Verona-Fairburn
DevelopmentGeorgiaNewsSoutheast

Vida Cos. Developing Verona in Metro Atlanta

by Lynn Peisner

FAIRBURN, GA. — Vida Cos., an Atlanta-based multifamily, mixed-use and build-to-rent developer, has broken ground on Verona, a 280-unit community in Fairburn, approximately 20 miles southwest of Atlanta. Verona will consist of four-story garden-style buildings containing one-, two- and three-bedroom units, all with balconies. Amenities include a courtyard with a saltwater pool and grilling stations, a fitness center, clubhouse, coworking lounge, indoor mail kiosks, a dog park and private and public green spaces. The project also includes a 1,500-square-foot retail space for a coffee shop that will be open to …

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Colina-Hillside-Birmingham
AlabamaDevelopmentNewsSoutheast

Dobbins Group, Capstone Building Corp. Complete Development of Colina Hillside in Birmingham, Alabama

by Lynn Peisner

BIRMINGHAM, ALA. — Dobbins Group along with general contractor Capstone Building Corp., both locally based, have completed construction of Colina Hillside in Birmingham. The 475-unit property was designed by Williams Blackstock Architects and features two saltwater pools with cabanas and outdoor entertainment areas, pet spa and parks, a clubhouse, coworking areas, a firepit, electric vehicle charging stations, a market, garages, storage spaces and a walking path. Floor plans include one-, two- and three-bedrooms set within four- and five-story buildings.

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Flatiron
Architecture & DesignDevelopmentFeatures

How Aging Malls Are Being Transformed Into Mixed-Use Neighborhoods

by Lynn Peisner

By Carl Malcolm and W. Brian Keith Across the United States, aging regional malls are entering a new phase in the evolution of suburban landscapes. Once designed as inward-facing retail environments surrounded by vast parking lots, many now sit within fully developed communities that have grown up around them. What were once peripheral shopping destinations are occupying some of the most strategically located land in metropolitan areas — often 50 to 100 acres at highly visible intersections with strong infrastructure and regional access. As traditional retail models struggle to compete …

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