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Authentix South Elgin in South Elgin, Illinois
DevelopmentIllinoisMidwestNews

Continental Properties Breaks Ground on 336-Unit Development in Chicago Suburb

by Channing Hamilton

SOUTH ELGIN, ILL. — Continental Properties has broken ground on Authentix South Elgin, a 336-unit development in South Elgin, approximately 45 miles west of Chicago.  Authentix South Elgin will offer studio, one-, two-, and three-bedroom floor plans. Amenities include a pool, clubhouse, outdoor grill area, fitness center and a leash-free dog park with a pet spa. Pre-leasing is slated to commence in the spring of 2025. Move-ins will begin once the community clubhouse and first residential building are completed in late summer 2025. The property is located at the corner …

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DevelopmentNew JerseyNewsNortheast

Prism Capital Partners to Develop 400-Unit Office-to-Residential Project in Woodland Park, New Jersey

by Channing Hamilton

WOODLAND PARK, N.J. — Locally based development and investment firm Prism Capital Partners will undertake a redevelopment project in Woodland Park, roughly 14 miles north of Newark, New jersey. Jose Cruz, Jeremy Neuer and Ryan Robertson of JLL represented the undisclosed seller in the disposition of the site. The developer plans to convert a 33-acre former office campus at 385 Rifle Camp Road into a 400-unit apartment community. Twenty percent (80 residences) of units will be set aside as affordable housing. Demolition work is currently underway, but a target completion …

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Affordable HousingDevelopmentLouisianaNewsSoutheast

Churchill Stateside Group Closes $47.7 Million Construction Financing for Affordable Housing Development in Lake Charles, Louisiana

by Channing Hamilton

LAKE CHARLES, LA. — Clearwater, Florida-based Churchill Stateside Group LLC has closed $47.7 million in construction financing for Deerwood Apartments, a 144-unit affordable housing project in Lake Charles, 75 miles west of Lafayette, Louisiana. Once complete, Deerwood Apartments will offer a mix of 18 one-bedroom, 84 two-bedroom and 42 three-bedroom apartments. A construction timeline and developer were not disclosed. The financing package included $21.5 million of short-term, tax-exempt bonds through Churchill Stateside Securities LLC; a $20.8 million construction loan through Churchill Mortgage Construction LLC; a $4.8 million forward tax-exempt permanent …

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Union at Purple Heart Trail in Wichita, Kansas
Affordable HousingDevelopmentFrom the MagazinesKansasMidwest

Affordable Housing Developers Find Opportunity in Wichita

by Channing Hamilton

Wichita has grown considerably in the past few decades while still maintaining the small-town charm the city is known for. With a population of 397,532 as of the 2020 U.S. Census, Wichita is the largest city in Kansas. The city has grown 4 percent since 2010, when the U.S. Census reported the population as 382,368. The many changes in the city’s demographic makeup and economy have notably changed the multifamily rental housing landscape. Farming remains prevalent in this area, which is tucked into the heart of the Midwest. However, other …

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Shelby Commons in Minneapolis
Affordable HousingDevelopmentLeasing & MarketingMidwestMinnesotaNews

Woda Cooper, Project for Pride in Living Open 46-Unit Affordable Shelby Commons in Minneapolis

by Channing Hamilton

MINNEAPOLIS — Woda Cooper Cos. Inc. and Project for Pride in Living (PPL) have opened Shelby Commons, a 46-unit affordable housing community in the North Loop neighborhood of Minneapolis. The four-story building features one-, two- and three-bedroom units. All of the units are reserved for households earning 30 to 80 percent of the area median income. Amenities include a community room, laundry facility and outdoor spaces such as a rooftop terrace, playground and community gardens. Underground parking is also available on-site. The property will feature two large murals currently underway …

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4909 Auburn in Bethesda, Maryland
DevelopmentLeasing & MarketingMarylandNewsNortheast

Willow Bridge Property Co. Begins Leasing 11-Story 4909 Auburn in Bethesda, Maryland

by Channing Hamilton

BETHESDA, MD. — Willow Bridge Property Co. has begun leasing 4909 Auburn, an 11-story residential tower that is approaching completion in the Woodmont Triangle neighborhood of Bethesda. The community will offer 167 apartments in studio, one- and two-bedroom floor plans. Units will range from 364 to 1,333 square feet. Planned amenities include a fitness center and yoga studio, steam and sauna rooms, pet spa and a parking garage with electric vehicle charging stations. Residents will also have access to a rooftop terrace with a TV and grilling area, common and …

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The Royalton at Prosper in Prosper, Texas
DevelopmentNewsTexas

SWBC Begins Developing 270-Unit The Royalton at Prosper Near Dallas

by Channing Hamilton

PROSPER, TEXAS — Dallas-based developer SWBC has broken ground on The Royalton at Prosper, a 270-unit project in Prosper, about 40 miles north of Dallas. The community will offer one-, two- and three-bedroom floor plans. Select units will feature yards and direct-access garages. Amenities will include a clubhouse with a business center, fitness center and pool with cabanas and grilling stations. Cross Architects is designing the project. Carleton Cos. is serving as the general contractor. The first units are expected to be available for occupancy next summer. The Royalton at …

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Authentix South Elgin in South Elgin, Illinois
DevelopmentIllinoisMidwestNews

Continental Properties Breaks Ground on 336-Unit Community in South Elgin, Illinois

by Channing Hamilton

SOUTH ELGIN, ILL. — Continental Properties has begun development of Authentix South Elgin, a 336-unit property in South Elgin, about 40 miles west of Chicago. The garden-style community will offer studio, one-, two- and three-bedroom layouts. Amenities will include a pool, outdoor grill area, clubhouse, fitness center and dog park. Pre-leasing is expected to begin in spring 2025, with move-ins slated for late summer 2025. Authentix Apartments, owned and operated by Continental Properties, is a national brand of residential communities offering garden-style apartments. Continental Properties is based in Menomonee Falls, …

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LEO at Flint Crossing in Huntsville, Alabama
Company NewsDevelopmentFloridaNewsSoutheast

Advenir, Azora Create $3 Billion Partnership to Address National Housing Shortage

by Channing Hamilton

MIAMI AND AVENTURA, FLA. — Florida-based Advenir, which acquires, develops and manages multifamily and single-family rental communities, has entered into a partnership with Spanish global investment firm Azora to create “attainable” rental housing in various markets across the U.S. The deal creates a new, combined corporation called Advenir Azora, which will focus on acquisition, development, asset management, property management and fund services capabilities. Advenir Azora is expected to deploy more than $3 billion over the next five years in hopes of developing at least 10,000 new single-family rental homes and acquiring …

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Traer Creek Apartments in Avon, Colorado
ColoradoDevelopmentFinanceNewsWestern

JLL Capital Markets Arranges $73 Million Construction Financing for Traer Creek Apartments in Avon, Colorado

by Channing Hamilton

AVON, COLO. — JLL Capital Markets has arranged $73 million in construction financing for Traer Creek Apartments, a 242-unit development situated at 5471 East Beaver Creek Blvd. in Avon, about 1.5 miles from Beaver Creek Resort and 8.3 miles from Vail Ski Resort in Vail, Colorado. The borrower was a joint venture between Prime West and Columnar Investments. Leon McBroom and Will Haass led the JLL Capital Markets debt advisory team that represented the borrower. Once completed in 2026, Traer Creek Apartments will consist of three buildings that each rise …

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