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Evergreen-East-Fairport
Affordable HousingDevelopmentNewsNortheast

WinnCos. Completes $86M Affordable Housing Redevelopment in Upstate New York

by Lynn Peisner

FAIRPORT, N.Y. — WinnCos. has completed the $86 million redevelopment of Evergreen East, a 508-unit affordable housing community in Fairport. Originally constructed between 1972 and 1976 by the New York State Urban Development Corp. (UDC), the property, formerly known as the Pines of Perinton Apartments, was added to the National Register of Historic Places in January 2023. It was noted as an example of UDC’s suburban housing program, which sought to address post-World War II housing shortages with low-density, mixed-income apartments outside urban centers. The property is about 10 miles …

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Cottages-St. Augustine
Build-to-RentDevelopmentFloridaNewsSoutheast

Third Lake, CBI Underway on $50.8M BTR Development in St. Augustine, Florida

by Lynn Peisner

ST. AUGUSTINE, FLA. — Tampa, Florida-based Third Lake Development is underway on construction of The Cottages at St. Augustine. CBI Construction is heading up building efforts at the 33-acre site at 300 Bushwood Circle in St. Augustine. Nequette Architecture designed the 250-unit build-to-rent community. Construction began in March, and completion of the $50.8 million project is slated for December 2027.

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Rivet-Chelsea
AlabamaDevelopmentNewsSoutheast

Thompson Thrift to Develop 300-Unit Property in Metro Birmingham, Alabama

by Lynn Peisner

CHELSEA, ALA. — Thompson Thrift has announced plans to develop Rivet, a 300-unit community in Chelsea, 20 miles southeast of Birmingham, Alabama. Completion of the 300-unit asset is slated for 2027. Rivet will be comprised of one-, two- and three-bedroom units complemented by a resort-style, heated pool, 24-hour fitness center, pickleball court, grilling areas, a fire pit, billiards and shuffleboard, a dog park, business center with conference rooms and focus suites and an Amazon package hub.

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1010waugh-Houston
DevelopmentNewsTexas

Fairfield Residential, KTGY Complete 1010 Waugh in Houston

by Lynn Peisner

HOUSTON — Fairfield Residential has completed and opened 1010 Waugh in the Montrose neighborhood of Houston. KTGY Dallas was the architect. The 14-story building at 1010 Waugh Drive replaces a single-story commercial building with 340 units and amenities that include a pool deck with cabanas, conference and game rooms, sky lounge, bike storage, package lockers, a dog run, electric vehicle chargers and a fitness center. The property also includes 517 parking spaces.

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Avalon-Denver
Affordable HousingCompany NewsDevelopmentInvestment SalesNewsOperations

Vivmark Becomes Nation’s Largest Apartment REIT

by Lynn Peisner

CHICAGO and ARLINGTON, VA. — AvalonBay Communities and Equity Residential have completed their merger, creating Vivmark Residential, a new real estate investment trust, which began trading on the New York Stock Exchange under the ticker symbol VMRK on Aug. 18. With a portfolio of approximately 184,000 owned apartments and 11,100 units under construction, Vivmark Residential is now the country’s largest multifamily owner, surpassing Greystar. As of Jan. 1, 2026, Greystar ranked as the top U.S. multifamily owner for the third consecutive year with 119,160 units in its portfolio, according to …

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Satori-Town-Center-Jacksonville
FloridaInvestment SalesNewsSoutheast

Mesa Capital Partners Acquires Satori Town Center in Jacksonville

by Lynn Peisner

JACKSONVILLE, FLA. — Mesa Capital Partners has acquired Satori Town Center in Jacksonville. The seller and sales price were not disclosed. The 289-unit community was built in 2021 by Davis Development. The four‑story, elevator‑served building features a two‑story fitness center, private workspaces, a clubhouse, resort-style pool and deck with grilling stations, a dog park, outdoor game area with hammocks and fire pits, a movie theater, and multiple outdoor gathering spaces. Acquisition financing was arranged by Walker & Dunlop. Pegasus Residential will oversee property management.

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1515-N-Fremont-Chicago
IllinoisInvestment SalesMidwestNews

Marcus & Millichap Arranges $20.4M Sale in Chicago’s Lincoln Park

by Lynn Peisner

CHICAGO — Thesis Investment Group has sold 1515 N. Fremont Street in Chicago’s Lincoln Park neighborhood to Beal Properties for $20.4 million. Marcus & Millichap’s Kyle Stengle represented the seller and procured the buyer. The 98-unit property, built in 2016, includes approximately 4,000 square feet of commercial space and features a lounge, barbecue and picnic areas, indoor bike storage, package lockers and controlled access.

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The-Lumberyard-Davis
Affordable HousingCaliforniaDevelopmentNewsSustainable/LEEDWestern

The Michaels Organization, JOIN and KUDA Break Ground on $88M Project in Davis, California

by Lynn Peisner

DAVIS, CALIF. — The Michaels Organization and has broken ground on an $88 million community called The Lumberyard in Davis. Development partners include Kyuden Urban Development America (KUDA) and Japan Overseas Infrastructure Investment Corp. for Transport and Urban Development (JOIN), a Tokyo-based firm specializing in overseas transportation and urban development projects. KUDA is the U.S. real estate development subsidiary of Japan-based Kyushu Electric Power Co. The Lumberyard takes its name from Hibbert’s Lumberyard and Hardware Store, which operated on the development site at the intersection of G and 5th streets …

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Lexington Riverview-Fair-Lawn
Investment SalesNew JerseyNewsNortheast

CBRE Arranges $14.9M Sale of Lexington Riverview in New Jersey

by Lynn Peisner

FAIR LAWN, N.J. — CBRE has brokered the sale of Lexington Riverview, a Class A community in Fair Lawn for $14.9 million. CBRE represented the seller while David Ferber with Matthews represented the buyer. Neither party’s name was disclosed. Completed in 2021, Lexington Riverview consists of 43 units. The property is situated along the Passaic River. Amenities include a fitness center, resident lounge and covered parking. The CBRE Institutional Properties team was led by Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer, Eric Greenberg, while Charles Berger represented CBRE Investment …

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Kent-Austin
Investment SalesNewsTexas

HPI Breaks Ground on The Kent in Austin, Texas

by Lynn Peisner

AUSTIN, TEXAS — Locally based HPI Real Estate Services and Investments has broken ground on The Kent, a 396-unit development in North Austin. The general contractor is OHT Partners, the architect is Belshaw Mulholland Architects, and Ellie Aiello Interiors is the interior designer. Greystar will manage the property. Completion of the seven-story community is slated for mid-2029. HPI is investing approximately $20 million of its own capital in The Kent, alongside a group of private investors. The total project cost was not disclosed.

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