LINCOLN, NEB. — The Annex Group is developing Union at Antelope Valley, a $52.7 million affordable housing community in Lincoln. Partners on the project include BVH Architecture, REGA Engineering Group and Summit LIHTC Consulting. US Bancorp Impact Finance provided more than $21 million in federal Low-Income Housing Tax Credit equity financing, while Cedar Rapids Bank & Trust provided more than $25 million in debt financing. Annex’s construction arm, Annex Construction of Nebraska LLC, is the general contractor. Situated on 1.7 acres within the eastern portion of downtown Lincoln, Union at …
1031 exchanges are an effective way for investors to protect their capital. They also historically have experienced strong fundamentals in the long term. Why, then, aren’t more multifamily investors taking advantage of tax-deferred swaps? Many property owners simply lack the expertise and industry connections to source acquisition opportunities that meet their objectives. This is especially true considering the tight timeframe many 1031 exchanges operate under, as these types of deals have a built-in ticking clock. Once an investor sells an asset, he or she has 45 days to identify a …
OVERLAND PARK, KAN. — Ryan Cos. has broken ground on The OsLo, a 413-unit complex in the Kansas City suburb of Overland Park. The project will rise four stories at the intersection of 135th Street and Antioch Road. Amenities will include smart technology, a spa, yoga studio, golf simulator, sound studio, coworking areas, a pool, pond and dog park. The OsLo is being built in partnership with operating partner EPC Real Estate Group. Ryan Cos. is serving as the developer, builder and capital markets provider. NSPJ Architects is the architect, …
EAST PEORIA, ILL. — Flaherty & Collins Properties has broken ground on Blutowne, a $65 million community in the Levee District of East Peoria. Merchants Bank of Indiana provided financing for the project, which will be centrally located near the municipal building and public library. The community will comprise 219 units across two buildings, as well as 10,000 square feet of commercial space and 276 parking spaces. Units will come in studio, one- and two-bedroom floor plans. Amenities will include a fitness facility, meeting space, saltwater pool and rooftop lounge. …
ARLINGTON HEIGHTS, ILL. — The development arm of Bradford Allen has submitted plans for a 300-unit community in the Chicago suburb of Arlington Heights. Approximately 30 of the units will be designated as affordable housing, but income restrictions for these units were not disclosed. The property will rise eight stories. Plans call for 25,000 square feet of ground-floor retail space and 17,500 square feet of amenity spaces, including an outdoor pool, sun deck, fitness area, media rooms, business center, library, work-from-home conference rooms, golf simulator, dog walk and pickleball court. …
Content PartnerFeaturesIndustry ContentMidwestNortheastOperationsSoutheastStudent HousingTechnologyTexasWestern
Tech-Driven Renters Insurance Model Ramps Up Efficiency, Reduces Risk
The failure of residents to meet coverage requirements or letting policies lapse can cost owners and operators significantly, according to TheGuarantors, a fintech company serving the multifamily industry. For some operators, this can mean up to hundreds of thousands of dollars in liability costs. It can be months before operators become aware that residents have changed or canceled their policy. Property technology (proptech) innovations have helped digitize every facet of the leasing, management, maintenance, rent collection and revenue management processes. However, most proptech improvements have traditionally been renter focused, rather …
CHICAGO — Tandem Partners has opened Sage West Loop, an 18-story mixed-use development in Chicago’s West Loop neighborhood. The high-rise building comprises 196 studio, one- and two-bedroom units, as well as 1,806 square feet of retail space and 70 parking spaces. Amenities include co-working spaces, a fitness center, game room and outdoor sky terrace with grilling stations and firepits. Tandem Construction was the general contractor on the project. KTGY served as the design architect, and Antunovich Associates was the architect of record.
OAK CREEK, WIS. — Heyday has broken ground on Heyday Oak Creek, a 130-unit build-to-rent community in the Milwaukee suburb of Oak Creek. Each unit features an attached two-car garage with personal electric vehicle charging outlets, as well as a private patio or covered porch. Floor plans come in one-, two- and three-bedroom layouts ranging from 832 to 1,701 square feet. Amenities include bike and walking paths, as well as a dog park and community garden.
ST. PAUL, MINN. — Marcus & Millichap has brokered the $5 million sale of Phalen Shores, a 53-unit property in St. Paul. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the seller and buyer, neither of which were disclosed. Phalen Shores was built in 1987. The five-story building features a fitness center, outdoor spaces and an underground heated garage.
COLUMBUS, OHIO — The NRP Group has opened The Sinclair Apartment Homes, a $40 million affordable housing community in Columbus. The Columbus Metropolitan Housing Authority helped fund the project’s development by issuing $27.7 million in tax-exempt and taxable bonds. Tax-credit funding support from the Ohio Housing Finance Agency and Huntington National Bank also helped fund the transit-oriented project. The Sinclair Apartment Homes is affordable to households earning between 30 and 80 percent of the area median income. The community consists of three four-story buildings with one, two-, three- and four-bedroom …