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Colony Lofts in Toledo, Ohio
DevelopmentMidwestNewsOhio

Continental, Hallmark Deliver Colony Lofts in Toledo, Ohio

by Channing Hamilton

TOLEDO, OHIO — Continental Real Estate Cos. and Hallmark Communities have completed development of Colony Lofts, a 262-unit community in Toledo. Colony Lofts offers amenities such as a pool, grilling stations, fitness center, business center, clubhouse and coffee bar. The property also includes retail spaces, electric vehicle charging stations and an outpost of Central Ohio restaurant chain The Old Bag of Nails Pub. Monthly rents start at $964 for a studio unit, according to the property’s website. Coastal Ridge is the property manager.

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Queensbridge Collective in Charlotte
DevelopmentNewsNorth CarolinaSoutheast

Riverside, Woodfield Top Out 42-Story High-Rise Project in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — Riverside Investment & Development and Woodfield Development have topped out a 42-story high-rise community in Charlotte. Goettsch Partners designed the building, which consists of 409 units. Clark Construction Group is the general contractor. The tower is the multifamily component of the Queensbridge Collective mixed-use project. The development also features a 35-story office tower, roughly 30,000 square feet of retail space and 90,000 square feet of amenity space, including more than two acres of indoor and outdoor fitness, recreation and entertainment spaces. The apartment community will also include …

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DevelopmentMassachusettsNewsNortheast

NEI General Contracting Completes Renovation of Boston Community

by Channing Hamilton

BOSTON — Randolph, Massachusetts-based NEI General Contracting has completed the renovation of Carol Avenue Apartments, a 33-unit community located in the Allston-Brighton neighborhood of Boston. According to the City of Boston, 29 of the units are affordable rental units. Income restrictions for these residences were not disclosed. The project involved the top-to-bottom renovation of three buildings totaling 16,196 square feet. The community received new windows, roofs, wall insulation and solar energy panels. Additionally, the project team restored and reused the building’s historic brick façade. Financing sources for the project included …

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Rainbow Village in Miami
Affordable HousingDevelopmentFloridaNewsSoutheast

Housing Trust Group Breaks Ground on $185 Million Mixed-Use Project in Miami

by Channing Hamilton

MIAMI — Housing Trust Group (HTG) has broken ground on Rainbow Village, a $185 million mixed-use development with 310 affordable housing units in Miami. Spanning 698,000 total square feet, Rainbow Village will also offer about 12,000 square feet of retail space, 50,000 square feet of amenity space and 442 parking spaces. Located at 2000 NW 3rd Ave., Rainbow Village will offer 30 studios, 163 one-bedroom units, 85 two-bedroom residences, 28 three-bedroom units, and 4 four-bedroom apartments. The community will be reserved for households earning at or below 30, 50, 60, 70 …

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Loden in New York City
DevelopmentLeasing & MarketingNew YorkNewsNortheast

Carmel Partners Begins Leasing 569-Unit Development in Brooklyn

by Channing Hamilton

NEW YORK CITY — Carmel Partners has begun leasing Loden, a 569-unit development with 7,483 square feet of retail space located in the Crown Heights neighborhood of Brooklyn. Locally based firm MNS Real Estate will lead leasing and marketing for the development. Loden offers a mix of studio, one- and two-bedroom floor plans. Each apartment is equipped with stainless steel appliances, nickel fixtures and door hardware, quartz countertops and backsplash, washers and dryers and wood-grain plank flooring. The 17-story community features a courtyard and rooftop terrace, both of which feature …

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Mailman Post in Raleigh, North Carolina
DevelopmentFinanceNewsNorth CarolinaSoutheast

Turnbridge Equities Receives $51.2 Million Construction Loan for Build-to-Rent Project Near Raleigh, North Carolina

by Channing Hamilton

KNIGHTDALE, N.C. — Turnbridge Equities has received a $51.2 million construction loan for Mailman Post, a 302-unit build-to-rent (BTR) development in Knightdale, about 12 miles east of Raleigh, North Carolina. Paul Spellman, Chris Peck and Ward Smith of JLL Capital Markets arranged the non-recourse loan through a regional bank. Mailman Post is located on 74 acres at 409 and 438 Mailman Rd. The community will feature a mix of two- through five-bedroom units with an average size of approximately 1,650 square feet. Each unit will include a backyard, garage and …

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Los Arcos at Vida in San Antonio
Affordable HousingDevelopmentNewsTexas

NRP Group Delivers $81 Million Affordable Housing Project in San Antonio

by Channing Hamilton

SAN ANTONIO — Cleveland-based developer The NRP Group has completed Los Arcos at Vida, an $81 million affordable housing project in San Antonio. Located within the 600-acre Vida master-planned development, Los Arcos at Vida consists of 324 apartments, which are reserved for households earning between 30 and 70 percent of the area median income.  Units come in one-, two, three- and four-bedroom floor plans. Community amenities include a pool with a sundeck, barbecue grills and picnic areas, a conference center and cybercafé, activities room, community garden, playground and laundry facilities.  …

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Jill Keene, URS
DevelopmentIndustry VoicesOperations

How to Ease Billing and Compliance Headaches During Development

by Lynn Peisner

Any number of issues can keep multifamily developers and owners awake at night. I’ve identified the following four top problem areas for developers when it comes to billing and compliance based on my experience working on new construction projects. The following tips can help minimize unnecessary delays, reduce staff frustration, avoid fines and lower costs all while allowing for a smooth transition into operations. 1. Deposits Setting up deposits for multifamily developments is a challenge that requires careful attention to details such as regulatory compliance, financial management and tenant relations. …

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Sutphin II in Jamaica, New York
DevelopmentFinanceNew YorkNewsNortheast

Dwight Mortgage Provides $148 Million Construction Loan for Project in Jamaica, New York

by Channing Hamilton

JAMAICA, N.Y. — Dwight Mortgage Trust has provided a $148 million loan for the construction of Sutphin II, a 524-unit mixed-income project in Jamaica, roughly 15 miles east of New York City. Steven Hersko of the SHB Group arranged the financing on behalf of the developer, a partnership led by Moshe Braver. The 24-story building will offer 366 market-rate residences and 158 affordable housing units. Income restrictions for the affordable units were not disclosed. Upon completion, however, Sutphin II will quality for a 35-year 421-a tax abatement and Brownfield Redevelopment Tax …

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The Welz in New York City
DevelopmentNew YorkNewsNortheast

Slate, Avenue Realty Capital Deliver 19-Story Brooklyn Community

by Channing Hamilton

NEW YORK CITY — A joint venture between Slate Property Group and Avenue Realty Capital has completed The Welz, a 19-story, 162-unit community in the Williamsburg neighborhood of Brooklyn. Located at 159 Boerum St., the property offers a mix of studio, one- and two-bedroom units. Monthly rates start at $3,175 for a studio. Additionally, 49 residences have been set aside as affordable housing for residents earning between 60 to 130 percent of the area median income. Each unit features washers and dryers, a dishwasher, microwave, quartz countertops and stainless steel …

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