Development

Los Arcos
Affordable HousingDevelopmentNewsTexas

NRP Group Opens Affordable Housing at VIDA in San Antonio

by Lynn Peisner

SAN ANTONIO — The NRP Group and the City of San Antonio opened Los Arcos at Vida on Jan. 29. The 324-unit property is reserved for residents earning between 30 and 70 percent of the area median income. The new development is part of the 600-acre VIDA San Antonio master-planned development led by SouthStar Communities that will be complete in 2026. VIDA will include healthcare, retail and event spaces as well as a mix of housing options, including single-family homes, townhomes and multifamily residences.

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Three Bridges affordable housing development
Affordable HousingBerkadiaDevelopmentNew JerseyNewsNortheast

Berkadia Arranges $11.9 Million in LIHTC Equity for New Jersey Development

by Lynn Peisner

READINGTON, N.J. — Berkadia has arranged $11.9 million in low-income housing tax credit equity for Apartments at Three Bridges, an affordable housing development in Readington. Conifer Realty is the developer. Senior Vice President and Head of Acquisitions Chris McGraw of Berkadia Tax Credit Solutions led the financing effort. Apartments at Three Bridges will consist of 80 townhome units across seven buildings. The homes are reserved for tenants earning between 20 and 60 percent of the area median income. Additional financing for the project will include a construction loan through Fulton …

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Charlie in Hoboken, New Jersey
DevelopmentNew JerseyNewsNortheast

LCOR Breaks Ground on 386-Unit Development in Hoboken, New Jersey

by Channing Hamilton

HOBOKEN, N.J. — Locally based developer LCOR has broken ground on Charlie, a 386-unit project in Hoboken. The 27-story building will be located within the $900 million Hoboken Connect mixed-use development. Consigli Construction Co. is the general contractor for Charlie, a tentative completion date for which was not disclosed. Units will come in studio, one-, two- and three-bedroom floor plans. Twenty percent of the units will be set aside as affordable housing, although specific income restrictions were not disclosed. Amenities will include a resident lounge with package room, concierge and …

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Olive at Peabody Union in Nashville, Tennessee
DevelopmentNewsSoutheastTennessee

Partnership to Open 27-Story Residential Tower in Nashville, Tennessee

by Channing Hamilton

NASHVILLE, TENN. — A partnership between Hensler Development Group, Stiles and PGIM Real Estate will open Olive at Peabody Union, a 345-unit high-rise project situated between downtown Nashville and the Cumberland River. The 27-story tower will offer studios, one-, two- and three-bedroom penthouses, which range from 1,179 to 2,585 square feet in size. Planned amenities include a wellness center with a sauna and cold plunge, speakeasy sky lounge, pool deck and hot tub, coworking lounges and a gym. The development team, along with newly appointed property management firm Bozzuto Group, …

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Residences at Eastbank
DevelopmentFinanceIllinoisMidwestNews

Waterton Contributes Equity for DAC’s Aurora, Illinois, Development

by Lynn Peisner

AURORA, ILL. — Waterton has contributed $16 million in preferred equity for the development of Residences at Eastbank, a five-story, 258-unit, mid-rise project underway in downtown Aurora, about 40 miles west of Chicago. Geneva Capital Group arranged the equity and provided a $45 million senior loan. Further support came from the City of Aurora. Construction began in May 2024 and is expected to be completed in 2026. According to the developer, DAC Developments, the total project cost is $90.4 million. Floor plans will include a mix of studios, one-, two- …

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DevelopmentFinanceNewsTexas

David B. Norton Arranges $35.4 Million Construction Financing for Project Near San Antonio

by Channing Hamilton

UNIVERSAL CITY, TEXAS — Capital advisory firm David B. Norton Inc. has arranged $35.4 million in construction financing for a 268-unit project in Universal City, a northeastern suburb of San Antonio. The development will consist of 10 buildings on a 14-acre site. The financing, which represents about 77 percent of the total project capitalization, includes both debt from an undisclosed regional bank and preferred equity from an undisclosed institutional investor. The name of the developer was also not released.

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Stella Apartments in San Diego
CaliforniaDevelopmentFinanceNewsWestern

Murfey Cos. Secures $46.5 Million Construction Loan for Stella Apartments in San Diego

by Channing Hamilton

SAN DIEGO — Murfey Cos. has received $46.5 million in construction financing for Stella Apartments in San Diego’s North Park neighborhood. Aldon Cole, Bryan Clark and Bharat Madan of JLL Capital Markets’ Debt Advisory arranged a three-year floating-rate loan through Buchanan Mortgage Holdings, an affiliate of Buchanan Street Partners, for the borrower. Located at 3104 El Cajon Blvd., Stella Apartments will consist of 149 apartments across nine stories. Units will come in studio, one- and two-bedroom layouts. Planned amenities include a rooftop terrace, community gym, outdoor amenity space and lobby. …

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Brickell Starlite in Miami
DevelopmentFloridaNewsSoutheast

Focus, Group Fox Receive Site Plan Approval for 39-Story Rental Tower in Miami

by Channing Hamilton

MIAMI — Focus and Group Fox have received site plan approval for Brickell Starlite, a 39-story residential tower located in Miami’s Brickell financial district. Once completed in 2028, Brickell Starlite will feature 517 apartment units, as well as 7,500 square feet of retail space.  Gensler designed the tower, which is now fully zoned and ready to break ground once the final permitting is completed. Focus has retained Chris Lentz, Chris Moyer, Jeff Altenau, Susan Tjarksen and Marc Royer of Cushman & Wakefield to fully capitalize the development. Focus is a …

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Robert Fink
DevelopmentGeorgiaNewsOperationsPeople NewsSoutheast

Columbia Residential Adds Robert Fink as Chief Development Officer

by Channing Hamilton

ATLANTA — Columbia Residential has hired Robert Fink to the position of chief development officer. In this role, Fink will oversee all aspects of development operations for the company, including securing new affordable housing and community development opportunities. He will also oversee Columbia Residential’s business planning and manage the company’s financing structures. Fink will be based at Columbia Residential’s headquarters in Atlanta. Fink previously served as the vice president of development at Zimmerman Properties in Atlanta. Prior to this, he served as the director of housing finance and development at …

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Jalen Lofts in Trotwood, Ohio
DevelopmentFinanceMidwestNewsOhio

KeyBank Provides $23 Million in Construction Financing for Affordable Housing Community in Trotwood, Ohio

by Channing Hamilton

TROTWOOD, OHIO — KeyBank Community Development Lending and Investment (CDLI) has provided $23 million in financing for the construction of Jalen Lofts in Trotwood, roughly 8 miles northwest of Dayton, Ohio. Derek Reed and David Lacki of KeyBank CDLI structured the financing, which includes a $9.8 million construction loan, a $3.7 million permanent loan and $9.4 million in low-income housing tax credit financing.  Jalen Lofts will feature 66 workforce and affordable housing units, which will be available to families who earn between 30 and 80 percent of the area median …

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