Development

Palladium Park Row Katy Living in Houston

HOUSTON — Palladium USA has begun the construction of Palladium Park Row Katy Living, a $33 million project in Houston. Once completed, the property will feature 93 units in one-, two- and three-bedroom layouts. Amenities will include a pool, fitness center, conference center, dog park, business center, children’s playroom and clubhouse with a mini kitchen. Palladium USA expects to deliver the first units, as well as the clubhouse, in December 2025. Pre-leasing is slated to begin in the fall of 2025. The development is the result of a public-private partnership …

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The Journal in Jersey City, New Jersey

JERSEY CITY, N.J. — Kushner is nearing completion of The Journal, a roughly $1 billion project positioned adjacent to the Journal Square PATH station in Jersey City’s Journal Square area. Kushner broke ground on the development in 2022. The Journal consists of two 64-story towers, which have been topped out. Pre-leasing efforts are slated to begin in early 2025. Upon completion, The Journal will consist of more than 2 million square feet, including 1,723 apartments and 45,000 square feet of amenity space. The property includes 40,000 square feet of ground-floor …

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Novel River District in Charlotte, North Carolina

CHARLOTTE, N.C. — Locally based developer Crescent Communities has broken ground on Novel River District, a 318-unit community in Charlotte. UMB Bank provided an undisclosed amount of construction financing for the project. The community will feature a mix of studio, one- and two-bedroom apartments. Move-ins are slated to begin in early 2026. Novel River District will be the first apartment community within The River District, a 1,400-acre master-planned development that will offer 2,350 apartments and 2,300 single-family homes at full build-out. Crescent Communities is also the developer for The River District. …

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Artwalk Towers in Jersey City, New Jersey

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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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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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

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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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

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

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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