KANSAS CITY, MO. — A partnership between Brinkmann Constructors and EPC Real Estate Group has broken ground on 74 Broadway, a 440,000-square-foot development in the Waldo neighborhood of Kansas City. The community will offer 280 apartments, as well as a clubhouse, six-story parking garage and ground-floor retail space. BRR Architecture is the project architect. A construction timeline for the project was not provided.
SPRING HILL, FLA. — JLL Capital Markets has arranged a $32 million construction loan for Magnolia at Spring Hill, a 162-unit built-to-rent community in Spring Hill, 40 miles north of Tampa, Florida. Agador Spartacus Development was the borrower. Magnolia at Spring Hill will offer two-bedroom flats and two- and three-bedroom townhome-style units with an average size of 1,144 square feet. Planned amenities include a pool, pickle and basketball courts, playgrounds, a fitness studio and outdoor kitchen. Development is expected to complete in late 2025. JLL arranged the non-recourse loan through a …
EXTON, PA. — Locally based developer Hankin Group has begun construction on the second phase of Keva Flats in Exton, about 35 miles west of Philadelphia. Phase II will comprise 96 units across two buildings. The development team also plans to restore the site’s floodplain to help accommodate the high volume of water associated with severe storms in the region. The project is slated for completion in fall 2026. Phase I of Keva Flats featured 242 units in one-, two- and three-bedroom floor plans across six buildings. Amenities include a …
PITTSBURGH — A joint venture between Greystar and ECHO Realty has broken ground on a mixed-use project located at the intersection of Penn and Shady avenues in Pittsburgh. The development will include Ophelia, a 231-unit apartment community by Greystar, as well as The Meridian, a 44,000-square-foot retail project spearheaded by ECHO Realty, and parking for both retail and residential uses. Ophelia will offer units in studio, one- and two-bedroom floor plans. Thirty-five apartments will be subject to income restrictions under the city’s affordable housing program. Planned amenities include a fitness center …
When New York-based developer Jonathan Rose Cos. (JRC) acquired the Barbara Jean Wright Court Apartments in 2021, the 272-unit, low-rise, 40 percent Section 8 community in Chicago’s University Village neighborhood was in need of some serious repair. Originally built in the 1970s and remodeled in 1999, the complex’s HVAC systems, flooring, kitchens, bathrooms and boilers were long past the point of needing a complete overhaul. The issue? The building was nearly fully occupied, which made this a tricker project than normal. To pull off this occupied restoration, JRC needed a construction …
JERSEY CITY, N.J. — The Community Builders (TCB) has delivered Fairview Heights, a 92-unit mixed-income community in the McGinley Square neighborhood of Jersey City. The property offers studio, one-, two- and three-bedroom apartments. Fifty units are subject to income restrictions. Amenities include a community lounge with a kitchenette and screening area, children’s playroom, onsite laundry facilities and a fitness center. Inglese Architecture + Engineering designed Fairview Heights. Sisca Northeast Associates served as the general contractor.
CHAPEL HILL, N.C. — Beechwood Carolinas, a division of The Beechwood Organization, has broken ground on South Creek, a 120-acre mixed-use project in Chapel Hill. The development site is located at 119 US Highway 15 501 S. Once completed, the project will offer 92 apartments, as well as 606 condominiums, 100 townhomes, 52,000 square feet of retail space and an 80-acre nature preserve with walking trails. Planned amenities include a fitness center, multiple club and lounge areas, dog park, fire pits, electric vehicle charging stations and bike parking spaces. Beechwood Carolinas …
PALM BAY, FLA. — Stellar Communities and Adam America Real Estate have secured LP equity and a $52.7 million non-recourse construction loan for Havens at Palm Bay, a 266-unit build-to-rent project located in Palm Bay in Florida’s “Space Coast” region. Max La Cava, Pier Barinci and Shane Ciacci of JLL Capital Markets arranged the financing. Havens at Palm Bay will offer single-story units in one-, two- and three-bedroom floor plans. Planned amenities include a pool, clubhouse, children’s playground, dog park, self-storage and detached parking. The development is slated to complete in 2026. …
EAST HANOVER, N.J. — Locally based developer KRE Group has begun leasing Valley View Park, a 239-unit community in East Hanover, approximately 30 miles west of Manhattan. The property was named after a golf course that occupied the site from 1937 to 1973. The project team broke ground on the community in April 2023. The property consists of five four-story buildings, which house one- and two-bedroom units. Of the total unit count, 34 residences are subject to income restrictions. Amenities include a pool, fitness center, indoor and outdoor children’s play …
NEW YORK CITY — David Werner Real Estate Investments and Metro Loft Management have secured $75 million in acquisition financing for the former Pfizer headquarters in Midtown Manhattan. Max Herzog, Marko Kazanjian, Andrew Cohen and Max Hulsh of IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), arranged the financing through Northwind Group. The new ownership will convert the 10-story office building, which is situated at 219 E 42nd St., into an apartment community by combining it with the adjacent property at 235 E 42nd St. Once completed, …