Development

Flournoy Selects McShane to Lead Construction of Nashville Project

by Lynn Peisner July 29, 2025

NASHVILLE, TENN. — Flournoy Development Group has selected McShane Construction Co. to build Declan Hermitage, a 315-unit community in Nashville’s Hermitage neighborhood. Completion of Declan Hermitage is slated for June 2027. Dynamik Design is the architect. Positioned on a 15-acre site, the development will integrate six garden-style buildings with three and four stories. Units will be offered in one- to three-bedroom layouts. Amenities will include a clubhouse, pool and sun deck, grill stations, fire pits, a dog park and a car wash. McShane is currently building three additional multifamily communities …

July 29, 2025

Affordable Housing Arizona Development News Western

Dominium Acquires Land for LIHTC Development in Metro Phoenix

by Lynn Peisner July 29, 2025

SURPRISE, ARIZ. — Dominium has closed on land in Surprise, a Phoenix suburb about 22 miles northwest of downtown. The developer is planning to build Allasso Ranch on the site. The project will comprise 304 affordable homes supported by low-income housing tax credits. While specific area-median-income caps were not disclosed, the developer says a three-bedroom unit will rent for $1,597 per month, and a four-bedroom will rent for $1,770. According to RentCafe, average monthly asking rents for a three-bedroom in Surprise are about $2,054. Amenities will include a leasing center, …

July 29, 2025

Development Georgia Leasing & Marketing News Southeast

Alliance Opens Broadstone Development in McDonough

by Lynn Peisner July 28, 2025

MCDONOUGH, GA. — Alliance Residential has opened The Weldon by Broadstone, a 330-unit community in McDonough, an Atlanta suburb located about 35 miles south of downtown. The architect and interior designer on the project was Atlanta-based Dynamik Design, Planners & Engineers Collaborative+ was the project’s engineer. The Weldon offers a selection of one- and two-bedroom units that feature full-size Samsung side-by-side washers and dryers. Amenities include a saltwater pool with in-pool chaises, outdoor lounge seating and a pergola-covered outdoor entertainment area with grilling stations. Additional amenities include a 24-hour fitness …

July 28, 2025

Affordable Housing Development Illinois Midwest News

Development Team Completes Westhaven Park Station in Chicago

by Lynn Peisner July 28, 2025

CHICAGO — McShane Construction Co. and partner Ashlar Construction have completed the development of Westhaven Park Station in Chicago. Developers on the 96-unit, mixed-income project were Brinshore Development and The Michaels Organization. The 12-story building marks the final phase of redevelopment of the former Henry Horner Homes complex, which was a cluster of several public-housing buildings originally developed in the 1950s and 1960s in the Near West Side area. The concrete building offers a total of 121,800 square feet with three retail spaces on the ground floor and residential units on …

July 28, 2025

Development Finance New York News Northeast

SCALE Lending Provides $305 Million Loan to Beitel Group for Bronx Development

by Lynn Peisner July 25, 2025

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided Beitel Group a $305 million construction loan for an unnamed development at 355 Exterior St. in the Mott Haven neighborhood of South Bronx. Landstone Capital Group arranged the financing. The community will consist of two connected 40-story and 26-story residential towers totaling 515,000 square feet with 755 units. The Beitel Group demolished the existing buildings and completed excavation work after entering a contract to purchase the site in October 2024. Construction began in December …

July 25, 2025

Development Leasing & Marketing News Texas

LV Collective Pre-Leasing Austin High-Rise

by Lynn Peisner July 25, 2025

AUSTIN, TEXAS — Locally based multifamily and student-housing developer LV Collective, formerly known as Lincoln Ventures, has launched pre-leasing at Paseo, its new mixed-use property at 80 Rainey St. The 48-story tower will be fully complete and open by October. The developer broke ground on the project in 2023. Paseo offers 557 units as studios or in one-, two- and three-bedroom floor plans as well as four penthouses. Monthly asking rents start at approximately $1,900. Amenities include a pool, deck and bar on the 12th floor with views of Lady …

July 25, 2025

California Development Finance News Western

Martin Group, JPF Land $61 Million Construction Loan for Bay Area Project

by Lynn Peisner July 24, 2025

SAN MATEO, CALIF. — IPA Capital Markets has arranged a $61 million loan for The Martin Group and JPF Capital, which are developing Arbello in San Mateo 19 miles south of San Francisco. The mixed-use project, located at 477 9th Ave., will include 120 apartments and 29,000 square feet of office space. According to Martin Group’s website, residential amenities will feature coworking space, a fitness center, a clubhouse, a central courtyard, a rooftop deck, bicycle storage and a dog park. Units will be offered as studios or as one- or two-bedroom …

July 24, 2025

Arizona Build-to-Rent Development News Western

NexMetro Opens Its 22nd Phoenix BTR Project

by Lynn Peisner July 23, 2025

PHOENIX — NexMetro has opened Avilla Vista Norte in Phoenix. The 191-unit build-to-rent community is NexMetro’s 22nd development in metro Phoenix, with four additional projects currently under construction in the area. Avilla Vista Norte offers one-, two- and three-bedroom detached, single-level homes with private backyards and front porches. Amenities at the gated community include storage units, covered parking areas, an electric-vehicle charging station, a resort-style pool and spa, outdoor kitchen and lounge areas, a dog park and dog-washing station, walking paths and open spaces. The community does not place breed …

July 23, 2025

Affordable Housing Architecture & Design California Development Industry Voices

ADUs in Multifamily Development Are an Old Idea with New Potential

by Lynn Peisner July 23, 2025

By Brandi Campbell Wood Forward-thinking multifamily developers are rediscovering a housing type that predates modern zoning: accessory dwelling units (ADUs). An ADU is defined as a smaller, independent residential unit located on the same lot as a detached single-family home, according to the American Planning Association, a nonprofit organization that supports the field of urban and regional planning. What was once commonplace in early 20th-century developments — garden cottages, cluster housing and secondary units within larger properties — is experiencing a renaissance driven by new policy opportunities and compelling financial …

July 23, 2025

Development Illinois Midwest News

Banner Real Estate Secures $124 Million in Debt and Equity for Suburban Chicago Project

by Lynn Peisner July 22, 2025

WHEATON, Ill. — Banner Real Estate Group has secured $124 million in debt and equity and broken ground on The Faywell in Wheaton, 30 miles west of Chicago. The financing includes an $84 million construction loan from PNC Bank and approximately $40 million in joint venture equity, according to Crain’s Chicago Business. The 2.6-acre development site is an assemblage of 13 parcels and involved seven separate sellers. The deal took about five years to put together. The site is adjacent to the Metra Union Pacific West station with service to downtown …

July 22, 2025

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