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Render-Tucker
DevelopmentGeorgiaNewsSoutheast

Crescent Communities Breaks Ground on RENDER Tucker

by Lynn Peisner

TUCKER, GA. — Crescent Communities has begun construction of RENDER Tucker, a four-story community 20 miles northwest of Atlanta. RENDER Tucker is situated on 13 acres and contains 312 units. The project will include an entry park and arrival lawn, a clubhouse, hammock zones and swings, a pool, a fireplace and fire pit, a dog park, grills and a community garden. Completion is slated for summer 2027. Chuo Nittochi Group is serving as the equity partner on the project, and Santander Bank is the lender. Additional partners include Focus Design …

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Book-Cliffs-Lodge-SLC
Affordable HousingDevelopmentFinanceNewsUtahWestern

Salt Lake Housing Authority Breaks Ground on Book Cliffs Lodge

by Lynn Peisner

SALT LAKE CITY — The Housing Authority of Salt Lake has obtained a HUD loan for approximately $10.2 million for the development of Book Cliffs Lodge, a 55-unit affordable housing community that has been in the planning phases for several years. Construction has begun. A completion date has not been disclosed. JLL Capital Market’s Anson Snyder and Chris Gandy arranged the financing. Book Cliffs Lodge will be a four-story building with one-bedroom units in various sizes that will serve tenants earning between 30 and 80 percent of area median income. …

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La-Ostra-Inwood
Affordable HousingDevelopmentNew YorkNewsNortheastOperations

New York City Selects Development Team for 600-Unit Affordable Housing Project in North Manhattan

by Lynn Peisner

NEW YORK CITY — The New York City Department of Housing Preservation and Development (HPD) has selected Slate Property Group, Xenolith Partners and Communilife to develop La Ostra on a vacant lot in Inwood, the northern-most neighborhood in Manhattan. The project will include 600 units, 200 of which will be reserved for seniors. All apartments will offer affordable rents. Specific income restrictions were not disclosed. The developers will also build a marine science and STEM education center that will be operated by the Billion Oyster Project, a nonprofit founded in …

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520-W.-Stratford-Place-&-525-W.-Cornelia-Ave-Chicago
IllinoisInvestment SalesMidwestNews

JAB Real Estate Buys Vintage Chicago Property for $14M

by Lynn Peisner

CHICAGO — Interra Realty has arranged the $14 million sale of a 50-unit multifamily property in Chicago’s Lakeview neighborhood. Interra’s Joe Smazal represented the buyer, JAB Real Estate. Smazal also represented the confidential seller. This is the first time the asset, built in 1927, has traded hands in 20 years. The community features 13 studio, 24 one-bedroom, one three-bedroom and six four-bedroom layouts. Recent renovations to some units include hardwood flooring, updated bathrooms and new kitchens with granite countertops and stainless-steel appliances. Residents also have access to an on-site fitness …

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Boston Bay Dorchester
Affordable HousingDevelopmentInvestment SalesMassachusettsNewsNortheast

HVPG Acquires, Will Rehab Two Boston Properties for $52.5M

by Lynn Peisner

BOSTON — New York City-based affordable housing firm Hudson Valley Property Group (HVPG) has acquired Boston Bay and Hope Bay, two adjacent affordable housing communities in the Dorchester neighborhood of Boston. The deal marks HVPG’s first in Massachusetts. The properties, located at 205 Magnolia St. (Boston Bay) and 5 Norwell St. (Hope Bay), consist of 20 buildings across two sites originally constructed between 1890 and 1920. Total project costs related to this preservation project are approximately $52.5 million, funded with a Fannie Mae loan provided by KeyBank. HVPG is planning …

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Oxbow-Hill-Country-Boerne
Investment SalesNewsTexas

Oxbow Hill Country in Boerne, Texas, Sells to Steadfast Cos.

by Lynn Peisner

BOERNE, TEXAS — Brixton Capital, based out of Solana Beach, California, has sold Oxbow Hill Country in Boerne, a city 31 miles northwest of San Antonio. The buyer was Irvine, California-based Steadfast Cos. The 172-unit property was built in 2003 and features 132,736 rentable square feet across 6.8 acres. The garden-style community includes nine buildings with a unit mix ranging from one- to three-bedroom floor plans. The property was 92 percent occupied at the time of the sale. More than 80 percent of units remain in original condition since construction. …

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24-Webster-Avenue-Somerville
Affordable HousingDevelopmentMassachusettsNewsNortheast

MassHousing and Partners Close Financing for 43-Unit Affordable Housing Development in Somerville, Massachusetts

by Lynn Peisner

SOMERVILLE, MASS. — Affordable housing developer Just a Start and the Massachusetts Housing Finance Agency (MassHousing) have closed on financing for 24 Webster Avenue in Union Square. The project will include 43 units that will be constructed on a site that is currently a vacant commercial lot. The units will be reserved households earning between 30 and 60 percent of area median income. The general contractor is Dellbrook | JKS, the architect is ICON Architecture Inc., and the management agent will be Maloney Properties. New Seasons Development LLC is a …

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Villas-Litchfield-Phoenix
ArizonaBuild-to-RentFinanceNewsWestern

JLL Arranges $64.3M Refinancing for JV Owners of Two Phoenix BTR Projects

by Lynn Peisner

PHOENIX — JLL Capital Markets has arranged two refinancing loans totaling approximately $64.3 million on behalf of Chicago-based Blue Vista Capital Management and Palm Desert, California-based Family Development. The partners own Villas Litchfield (153 units) and Villas Goodyear (151 units), two newly constructed build-to-rent communities in Phoenix’s West Valley. ORIX Corp. was the lender. The loans — $33.1 million for the Litchfield property and $31.3 million for the Goodyear community — will serve as construction takeout financing for the two assets, which both opened in 2025. Greystar is the property manager at …

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DevelopmentFinanceInvestment SalesNew YorkNewsNortheast

Tavros Acquires Undeveloped Full-Block Manhattan Site for 600-Unit Project

by Lynn Peisner

NEW YORK CITY — Tavros, a locally based private investor and developer, has acquired 250 Water Street, a 1-acre site in Manhattan’s Seaport neighborhood for $143 million. Tavros is planning to build a ground-up, 600-unit multifamily project on the land. Twenty-five percent of the units will be offered at to-be-announced affordable monthly rents. The community will be anchored by four floors of retail. Fogarty Finger is the architect. A construction timeline was not disclosed. JLL represented the undisclosed seller in the deal and advised Tavros on a pre-development loan provided …

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3600-Peachtree-Atlanta
DevelopmentGeorgiaNewsSoutheast

Crescent Communities to Develop Office Tower and Multifamily in Buckhead Atlanta Project

by Lynn Peisner

ATLANTA — Crescent Communities has announced plans to develop 3600 Peachtree, a mixed-use project in the Buckhead neighborhood of Atlanta. The development plans call for a 375,000-square-foot, 21-story Class A office tower complemented by a 300-unit NOVEL by Crescent Communities luxury multifamily component. The developer also is planning for street-level food and beverage tenants and community-wide amenities that will be anchored by approximately 10,000 square feet of shared indoor amenities with direct access to an elevated 19,000-square-foot landscaped outdoor terrace overlooking Buckhead. Project partners include HSR Development Services (development), Partners …

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