Development

1000-W-Jackson-Chicago
Affordable HousingDevelopmentFinanceIllinoisMidwestNews

Affinius Originates $130.4M Construction Loan for Aldi-Anchored Chicago Project

by Lynn Peisner

CHICAGO — Affinius Capital has originated a $130.4 million construction loan to finance 1000 W. Jackson, a 25-story development in Chicago’s West Loop submarket. The developer is a joint venture between Chicago-based Mavrek Development and Toronto-based Fengate Asset Management, a North American alternative investment manager. John Parrett of CBRE arranged the financing. The project will include 21,500 square feet of retail pre-leased to Aldi and 380 apartments, including 76 units set aside as affordable. Rent restrictions were not disclosed. Floor plans range from studios to three-bedroom units complemented by amenities …

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Lookout-Pointe-Selma
DevelopmentNewsTexas

Inland, Cambridge Near Completion of Metro San Antonio Project

by Lynn Peisner

SELMA, TEXAS — A joint venture comprised of affiliates of Inland Real Estate Group of Cos. and Cambridge Development Group is nearing completion of Lookout Pointe, a 281-unit development in the northeast San Antonio suburb of Selma. The first residences are slated for completion in October. The community is comprised of studios, one- and two-bedroom units complemented by a clubhouse, fitness center, business center, resort-style pool, dog park and a rooftop patio with a gas grill and outdoor entertainment areas.

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500-North-Michigan-Chicago
DevelopmentIllinoisMidwestNews

Commonwealth Development Partners Obtains Financing, Breaks Ground on Chicago Office-to-Residential Conversion

by Lynn Peisner

CHICAGO — Commonwealth Development Partners has broken ground on the $162 million redevelopment of 500 North Michigan Ave. in Chicago. JLL arranged a $71.5 million construction loan through Santander Bank and $41.8 million in equity from Washington Capital Management. The project will convert a 25-story office tower, built in 1968, to a 320-unit luxury apartment community in Chicago’s Magnificent Mile district. Twenty percent of units will be designated affordable, rent restricted to 40 to 80 percent of area median income. Connecticut-based Commonwealth Development and partner Triangle Capital Group acquired the …

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Nick-OBrien-NRPNick-OBrien-NRP
Affordable HousingCompany NewsDevelopmentPeople News

The NRP Group Hires Nicholas O’Brien to Expand Affordable Housing Development in New York

by Lynn Peisner

NEW YORK CITY — The NRP Group has appointed Nicholas O’Brien as vice president of affordable housing development and finance in New York. O’Brien will help expand The NRP Group’s affordable housing pipeline across New York State outside the five boroughs, including Long Island, Westchester County, the Hudson Valley and Upstate New York. He will report to Jonathan Gertman, senior vice president of development, who oversees market-rate and affordable development efforts in New York. In his new role, O’Brien will identify and evaluate new affordable housing development opportunities, support transaction …

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Chris-Fields
Affordable HousingDevelopmentFinanceIndustry Voices

What Missouri’s Expanded Tax Credit Program Means for Rural Affordable Housing Development

by Lynn Peisner

By Chris Fields Historic tax credits have funded multifamily and affordable housing development in older buildings for decades. Missouri’s recent legislative changes have now expanded this funding source. Gov. Mike Kehoe signed House Bill 3080 on July 13, 2026, restoring and expanding the state’s Historic Preservation Tax Credit program under a new name: the Missouri Historic, Rural Revitalization and Development Act. For developers working on adaptive reuse and historic rehabilitation projects, the changes are significant. The credit rate for qualifying rural projects, those located outside St. Louis and Kansas City, …

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7 Hartwell-Lexington
DevelopmentFinanceMassachusettsNewsNortheast

Dinosaur Capital Partners Receives $45.8M Construction Loan for Metro Boston Development

by Lynn Peisner

LEXINGTON, MASS. — Boston-based Dinosaur Capital Partners has obtained a $45.8 million construction loan to build 7 Hartwell Avenue, a 130-unit, ground up project in the Boston suburb of Lexington. JLL’s Anthony Cutone, Madeline Joyce, Michael Schwarze and Joe Marinaro arranged the loan through Affinius Capital. Slated for completion in June 2028, 7 Hartwell Avenue will consist of a five-story community featuring studios, one-, two- and three-bedroom units, including 20 affordable units. Rent restrictions were not disclosed. The development also will include 132 parking spaces, a courtyard with grilling stations, …

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The-Emerald-Centerton
ArkansasDevelopmentNewsSoutheast

Capstone Building Corp., EYC and Kalikow Break Ground on $45.1M Project in Northwest Arkansas

by Lynn Peisner

CENTERTON, ARK. — Capstone Building Corp., a multifamily general contractor headquartered in Birmingham, Alabama, has begun construction of The Emerald, a 256-unit community in Centerton in Northwest Arkansas, about 5 miles west of Bentonville. Westbury, New York-based The Kalikow Group and EYC Cos., headquartered in Charleston, South Carolina, are the developers behind the $45.1 million project. Located at the intersection of E. Centerton Blvd. and Womack Road, The Emerald will encompass 312,414 square feet and feature 256 units across nine residential buildings, along with a clubhouse. S. Robert Andron is …

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Alta-Thoreau-Concord
Affordable HousingDevelopmentMassachusettsNewsNortheast

Wood Partners Breaks Ground on Alta Thoreau in Concord, Massachusetts

by Lynn Peisner

CONCORD, MASS. — Atlanta-based Wood Partners has broken ground on Alta Thoreau, a 237-unit community in Concord, approximately 20 miles northwest of Boston. Units will be offered as one-, two- or three-bedroom floor plans across two five-story residential buildings. Amenities include Pilates and yoga studios, a golf simulator, tavern-style lounge, coworking spaces, a pool, fire pits, a pet spa and a dog park. Alta Thoreau will be Wood Partners’ first Passive House-designed community in Massachusetts, a designation for buildings that use reduced energy. Features include porous pavement, a more sustainable …

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141-Willoughby-Brooklyn-Northwind-New-York
DevelopmentFinanceNew YorkNewsNortheast

Northwind Group Provides $427M in Loans for Two Office-to-Residential Conversions in New York City

by Lynn Peisner

NEW YORK CITY — Northwind Group has provided $427 million in construction loans for two metro New York office-to-residential projects. For the first project, the real estate private equity firm and debt fund manager originated a $208 million first mortgage construction loan for 141 Willoughby Street, a 24-story tower in Brooklyn. The borrowers/developers are Capstone Equities and BH3 Fund Advisors, who acquired the office property in 2025 and spent the past year in predevelopment planning for the building’s partial conversion to multifamily. Loan proceeds retired existing debt and will finance …

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Village-of-Pine-Hills-Orlando
Affordable HousingDevelopmentFloridaNewsSoutheast

Ability Housing Breaks Ground on $35.7M Orlando Affordable Housing Development

by Lynn Peisner

ORLANDO, FLA. — Ability Housing has broken ground on the 96-unit Village of Pine Hills in the northwest Orlando neighborhood of Pine Hills. The development is located on approximately 9 acres at 5121 North Pine Hills Road. Plans call for three three-story residential buildings comprising a mix of one-, two- and three-bedroom apartments with rent restrictions ranging from 22 to 60 percent of area median income. Amenities will include a community center with a computer lab, a library and flexible spaces for workshops, training and events. Residents also will have …

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