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The Oak at Katy Park in Katy, Texas
DevelopmentNewsTexas

Wayfinder Real Estate, Read King Commercial Real Estate Break Ground on The Oak at Katy Park Near Houston

by Channing Hamilton

KATY, TEXAS — Wayfinder Real Estate and Read King Commercial Real Estate have broken ground on The Oak at Katy Park, a 348-unit community in the Houston suburb of Katy. The property will offer amenities such as a pool, pickleball court, co-working space, sauna, outdoor kitchens and a fitness center. The community is scheduled to be completed in mid-2025, with the first residents expected to move in earlier that year. Meeks Architects designed the property. Norris Design is the landscape architect. Wayfinder Design is the interior designer. OHT Construction is …

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An unnamed affordable housing community in Oakland, California
Affordable HousingCaliforniaDevelopmentNewsWestern

Resources for Community Development to Break Ground on Affordable Housing Community in Oakland, California

by Channing Hamilton

OAKLAND, CALIF. — Resources for Community Development (RCD) plans to develop a six-story affordable housing community in Oakland. The complex will offer 77 units, as well as a community room, courtyard with a play structure, leasing offices and ground-floor retail space. Units will be affordable to households earning between 20 and 50 percent of the area median income. On-site supportive services will be available to formerly homeless residents. RCD expects to receive a building permit for the project in late 2023. Construction will begin in the first quarter of 2024. …

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DevelopmentGeorgiaNewsSoutheast

Brook Farm Group, Emory Equity Break Ground on The Sinclair at Callaway Farm in Atlanta Suburb

by Channing Hamilton

COVINGTON, GA. — Brook Farm Group and Emory Equity have begun constructing The Sinclair at Callaway Farm, a 388-unit community in the southeast Atlanta suburb of Covington. SilverCap Partners provided preferred equity for the development. First Horizon Bank and TrustMark Bank provided construction financing. The Sinclair at Callaway Farm will feature 11 residential buildings across two distinct neighborhoods. Construction is slated to be completed by the end of 2025.

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Affordable HousingDevelopmentFinanceGeorgiaNewsSoutheast

Stryant Investments to Redevelop Historic Atlanta Motel into 54-Unit Affordable Housing Community

by Channing Hamilton

ATLANTA — Stryant Investments has broken ground on Ralph David House, an adaptive-reuse development that converts a former motel in Atlanta’s Reynoldstown neighborhood into 54 units of permanent supportive housing. The community will be affordable to households earning at or below 30 percent of the area median income. Rents and utility costs combined will also be capped at 30 percent of each tenant’s income. The complex is slated to open in the fall of 2024.  Atlanta Beltline Inc. invested $550,000 into the project through the BeltLine’s TAD Increment Fund, which …

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Parkside on Dresden in Brookhaven, Ga.
DevelopmentFeaturesGeorgiaOperationsSoutheast

New Multifamily Starts to Slow to a Crawl in 2024, Say InterFace Panelists

by Channing Hamilton

ATLANTA — Multifamily developers are bracing for the uncertainty of 2024 as their projects are delivering into a landscape where new supply is outpacing demand by a significant margin. In the third quarter, a total of 114,000 new multifamily units were delivered compared to 82,100 absorbed, according to research from CBRE. The absorption figure is technically rebounding as it represents the highest quarterly figure since early 2022, but there is still a sizeable delta compared to supply growth. The trailing four-quarter total for multifamily deliveries stands at 376,500 units, which …

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ArizonaDevelopmentNewsWestern

Capital Square, Sunstone Two Tree Begin Constructing $49 Million Build-to-Rent Complex Near Phoenix

by Channing Hamilton

GLENDALE, ARIZ. — Capital Square and Sunstone Two Tree have broken ground on Ironwood Homes at Rosefield, a new build-for-rent community in the Phoenix suburb of Glendale. The 320-unit complex will be situated on a 29-acre lot at the southeast corner of Northern Parkway and N. Sarival Avenue. The partnership acquired the lot in September. Capital Square Glendale BFR is currently raising $49 million in equity from accredited investors for the complex’s development. Ironwood Homes at Rosefield will offer 102 detached single-family homes, as well as 218 townhomes. Units will …

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55 Hudson in Jersey City, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

Tishman Speyer Secures $300 Million to Construct 58-Story 55 Hudson in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — Tishman Speyer has received a $300 million construction loan through Otera Capital for 55 Hudson, a 58-story tower in Jersey City. The property will be located along the Hudson River in the city’s Paulus Hook neighborhood. The building will offer 1,017 units, as well as 75,000 square feet of amenities and 60,000 square feet of retail and restaurant space. Units will come in one-, two- and three-bedroom floor plans. Tishman Speyer plans to break ground on the project in December. Construction is expected to complete in early …

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ECO MESA in Mesa, Arizona
ArizonaDevelopmentNewsWestern

Habitat Metro Opens 102-Unit ECO MESA in Phoenix Suburb

by Channing Hamilton

MESA, ARIZ. — Habitat Metro has opened ECO MESA, a 102-unit community in the southeastern Phoenix suburb of Mesa. Located at 127 W. Pepper Place in Mesa’s downtown area, ECO MESA comprises 179,227 square feet across seven stories. Units come in studio, one- and two-bedroom layouts. Amenities include a 14,000-gallon heated pool, lounge with a kitchen, game room and a water-vapor fireplace. Willmeng Construction served as general contractor for the project, which was developed on a former parking lot. CCBG Architects designed the community.

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A build-to-rent development site by LyvWell Communities in Tampa, Florida
DevelopmentFloridaNewsSoutheast

LyvWell Communities Develops Wellness-Centered Townhomes in Tampa’s Deer Valley

by Channing Hamilton

TAMPA, FLA. — LyvWell Communities announces its latest build-to-rent development in Tampa: 115 new townhomes in the Westchase district. Land development is currently underway, with move-in dates available as early as summer 2024. LyvWell Communities caters to the health-conscious preferences of residents, developing properties with amenities such as pools, dog parks, outdoor fitness areas, zen zones, community pavilions, and community gardens. From fenced yards and garages to versatile living spaces equipped with air and water filtration systems, blackout shades for restful sleep, and circadian lighting, LyvWell Communities offers a comprehensive approach to …

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Affordable HousingDevelopmentIllinoisMidwestNews

NHP Foundation Opens 30-Unit Affordable Housing Redevelopment Project in Chicago

by Channing Hamilton

CHICAGO — The NHP Foundation (NHPF) has opened Covent Apartments, the redevelopment of the former Covent Hotel in Chicago’s Lincoln Park neighborhood. The 30-unit affordable housing property is now a single-room occupancy (SRO) property. SRO housing is defined as a residential property that includes multiple single-room units, according to HUD. The total cost of development for the project was $21.6 million, including $7.9 million in federal Low-Income Housing Tax Credits and historic tax credits, $5 million of City Home and Affordable Housing Opportunity Funds, $3.1 million in Illinois Housing Development …

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