Midwest

Harmony-at-Clear-Creek-Shawnee
Build-to-RentDevelopmentFinanceKansasMidwestNews

MCP, Bluerock Break Ground on Kansas City BTR Development

by Lynn Peisner

SHAWNEE, KAN. — Material Capital Partners (MCP) has secured $77.8 million in financing and begun construction on Harmony at Clear Creek, a 188-unit build-to-rent (BTR) community in Shawnee, 12 miles southwest of Kansas City, Kansas. Bluerock is MCP’s financial partner on the project. Bank OZK provided the construction loan, and Winchester Commercial Group is the general contractor. In addition to the loan, MCP is using equity from its BTR Development Fund I, which also is a funding source for two other BTR projects in the pipeline: Indigo Cove, an 83-unit …

Continue Reading
0 FacebookTwitterLinkedinEmail
The-Conway-at-Huxley-Yards-Madison
Affordable HousingDevelopmentMidwestNewsWisconsin

McShane Breaks Ground on Madison Affordable Housing Development

by Lynn Peisner

MADISON, WIS. — McShane Construction Co. has broken ground on The Conway at Huxley Yards, a 50-unit affordable housing community in Madison. It is the third phase of Lincoln Avenue Communities’ Huxley Yards development, which is set on the site of a former Oscar Mayer processing plant. The Conway is situated on a 1.7-acre site at 1846 Commercial Ave. It was designed by Knothe & Bruce Architects and is expected to be completed in the third quarter of 2026. The first two phases, The Victoria and The View, also will …

Continue Reading
0 FacebookTwitterLinkedinEmail
The-Collins-Cleveland
DevelopmentMidwestOhio

The NRP Group Completes The Collins in Cleveland

by Lynn Peisner

CLEVELAND — Locally based The NRP Group has opened The Collins, a 316-unit luxury community on Cleveland’s Scranton Peninsula, a strip of land surrounded by the Cuyahoga River that was home to industrial businesses from the late 1800s through much of the 20th century. BKV Group was the architect, Dollar Bank served as the construction lender, and the Ohio Department of Development provided funds through its Brownfield Remediation and state Opportunity Zone programs. The Ohio Water Development Authority provided gap financing, and the City of Cleveland provided tax abatement and …

Continue Reading
0 FacebookTwitterLinkedinEmail
Union-at-Rose-Park-Milwaukee
Affordable HousingDevelopmentMidwestNewsWisconsin

The Annex Group Breaks Ground on $25.8 Million Affordable Community in Milwaukee

by Lynn Peisner

MILWAUKEE — The Annex Group has begun construction of Union at Rose Park, an affordable housing development in the Harambee neighborhood of Milwaukee. The 75-unit community is The Annex Group’s first development in Wisconsin. A number of city, state and federal funding sources, including 4 percent low-income housing tax credits, contributed to the $25.8 million project cost. Leases will be available with a variety of income caps that range from 30 percent of area median income to market-rate rents. The Annex Group will give preference to veteran renters for nine …

Continue Reading
0 FacebookTwitterLinkedinEmail
Canvas-at-Woodbury
Build-to-RentInvestment SalesMidwestMinnesota

Watermark, PCCP Sell Two BTR Properties in Minneapolis Metro

by Lynn Peisner

WOODBURY, MINN. — A joint venture between Watermark and PCCP has sold two build-to-rent communities in Woodbury, 23 miles east of Minneapolis. The sales price and the identity of the buyer were not disclosed. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented the sellers, who are the properties’ original developers, in the transaction. Canvas at St. Croix is located at 11483 Crestbury Drive. Completed in 2024, the 89 units feature attached garages, and amenities include a clubhouse, multipurpose room and a resort-style pool. The 81-unit Canvas at Woodbury, located …

Continue Reading
0 FacebookTwitterLinkedinEmail
65-E-Wacker
DevelopmentFinanceIllinoisMidwestNews

JV Closes Financing for Historic Redevelopment in Chicago Loop

by Lynn Peisner

CHICAGO — Chicago-based developer Mavrek along with capital partner ACRES Commercial Realty Corp. have secured the financing needed to begin redevelopment of the Millinery Mart at 65 E. Wacker Place. The building opened in 1928 and, as its first use, served as centralized operations for the city’s hatmakers. In recent years, the 24-story Art Deco building has been occupied primarily by offices with ground-floor retail and restaurant space. Mavrek will redevelop the historic property into a 252-unit luxury apartment complex called Wacker Place. The contractor is McHugh Construction, and the …

Continue Reading
0 FacebookTwitterLinkedinEmail
The-Mason-Chicago
IllinoisInvestment SalesMidwestNews

Waterton Buys Fulton Market High-Rise for $90 Million

by Lynn Peisner

CHICAGO — Waterton has acquired The Mason, a 263-unit high-rise in Chicago’s Fulton Market district. According to CoStar, the asset traded for approximately $90 million, and the seller was a joint venture between Marquette Cos. and an affiliate of Deutsche Bank, which developed the property in 2019. Floorplans at The Mason include studios and one-, two- and three-bedroom apartments. Waterton plans to implement a light value-add program, which will include flooring upgrades in the units and enhancements to common areas and amenity spaces. The property features a pool, a fitness …

Continue Reading
0 FacebookTwitterLinkedinEmail
Central-Park-Apartments-Park-Forest
IllinoisInvestment SalesMidwestNews

Bender, Eastham Sell Suburban Chicago Asset For $23.2 Million

by Lynn Peisner

PARK FOREST, ILL. — Eastham Capital has sold Central Park Apartments in the Chicago suburb of Park Forest for $23.2 million. Crain’s Chicago Business reports that the buyer was GoldOller and Chase Chavin The 220-unit property was acquired for the portfolio of Eastham Capital Fund V in partnership with Bender Cos. in September 2019. Central Park Apartments was the second collaboration between Eastham and Bender. To date, the partners have co-invested in 10 properties together. Under Bender’s management, the joint venture completed an exterior improvement plan at the property that …

Continue Reading
0 FacebookTwitterLinkedinEmail
Churchill-Gateway-II-Cleveland
Affordable HousingDevelopmentMidwestNewsOhio

NRP Group Breaks Ground on Second Phase of The Davis in Cleveland

by Lynn Peisner

CLEVELAND — The NRP group has begun construction of Churchill Gateway II, which is the 70-unit second phase of an affordable housing development in Cleveland’s Glenville neighborhood. The first phase, known as The Davis, opened in 2022. Churchill Gateway II will offer one-, two- and three-bedroom residences for individuals and families earning between 30 and 60 of the area median income. Together, both phases total 122 units. Completion is slated for 2026. Development and financial partners include KeyBank, the City of Cleveland and the Ohio Housing Finance Agency, with support …

Continue Reading
0 FacebookTwitterLinkedinEmail
The-Bluffs-on-Lake-St-Francis
DevelopmentMidwestNewsWisconsin

M&R, Campbell Capital Break Ground on Milwaukee Project

by Lynn Peisner

ST. FRANCIS, WIS. — M&R Development and Campbell Capital Group LLC have begun construction of a 278-unit luxury apartment community situated on a bluff overlooking Lake Michigan in St. Francis, five miles south of downtown Milwaukee. The Bluffs on Lake will offer units ranging from studios to three-bedroom designs. M&R and Campbell Capital also teamed up to develop 42 Hundred on the Lake, a 236-unit project just south of The Bluffs on Lake that opened in 2021.  Located on a 21-acre site at 3700 S. Lake Drive, The Bluffs on …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.