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Midway-Village
Affordable HousingCaliforniaDevelopmentNewsWestern

Mid-Pen Opens First Phase of Midway Village in San Mateo County

by Lynn Peisner

DALY CITY, CALIF. — MidPen Housing and partners have completed the construction of Midway Village I, which includes 147 affordable-housing units in Daly City.  MidPen also broke ground on Midway Village II, which will include 113 affordable units and a childcare facility. Midway Village I is reserved for renters earning between 30 and 80 percent of area median income (AMI). The developer has earmarked 12 of the apartments for young adults aging out of foster care. Local teachers/members of the area’s education workforce will have first dibs on 27 of …

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BerkadiaBuild-to-RentInvestment SalesNewsNorth CarolinaSoutheast

Berkadia Arranges Charlotte Area Build-to-Rent Sale

by Lynn Peisner

INDIAN TRAIL, N.C. —Berkadia has arranged the sale of Poplin Trace in Indian Trail, a city about 15 miles southeast of Charlotte. The sales price was not disclosed, but the Charlotte Business Journal reported the asset traded for $31 million. The seller was Arizona-based Belleview. The buyer was not disclosed. As of the date of sale, which was April 22, the property was 93 percent occupied. Poplin Trace offers 99 units, all as three-bedroom townhomes with attached two-car garages. The townhome, build-to-rent community was developed in 2021. Managing Director Caleb …

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Society-Brooklyn
Affordable HousingDevelopmentNew YorkNewsNortheast

PMG Opens Mixed-Income High-Rise in Brooklyn

by Lynn Peisner

BROOKLYN, N.Y — Property Markets Group (PMG) opened Society Brooklyn in the Gowanus neighborhood on May 15. The two-tower, 21-story, mixed-use, mixed-income property spans 594,000 square feet and features 517 residential units, 25 percent of which are allocated as affordable housing. Society Brooklyn at Degraw’s affordable units are reserved for tenants earning between 40 and 100 percent of area median income (AMI). Units in the second tower, called Society Brooklyn at Sackett, are for tenants earning between 40 and 130 percent of AMI. MNS Real Estate is handling leasing. The exact …

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Bond-on-Mint
Leasing & MarketingNewsNorth CarolinaOperationsSoutheast

RKW Picks Up Three Charlotte Property Assignments

by Lynn Peisner

Charlotte, N.C. — RKW Residential has been selected to manage three metro Charlotte properties totaling 925 units. The new communities include Bond on Mint, a 393-unit luxury high-rise developed by Kayne Capital; Frazier at Mallard Creek, a 295-unit property from Delray Ventures; and Novel Davidson, a 237-unit property developed by Crescent Communities.

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Bayfront
Affordable HousingDevelopmentNew JerseyNewsNortheast

Pennrose and Partners Break Ground on 100-Acre Mixed-Income Project

by Lynn Peisner

JERSEY CITY, NJ — Bayfront Development Partners, a joint venture between Pennrose and Paths Development, has broken ground on Bayfront Promenade, the first building in the mixed-use, mixed-income Bayfront redevelopment project in Jersey City. The six-story Bayfront Promenade will feature 210 units, 167 of which are set aside for low- and moderate-income households. These include 74 units designated for families earning up to 60 percent of area median income (AMI) and 93 units for families earning up to 120 percent of AMI. A construction timeline for Promenade was not released, …

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Outlook-Table-Mesa
ColoradoInvestment SalesNewsWestern

Evergreen Devco Sells Metro Denver Asset for $97 Million

by Lynn Peisner

WHEAT RIDGE, COLO. — Evergreen Devco has sold Outlook Table Mesa, a 250-unit development in Wheat Ridge, for $97 million. The buyer was FJ Management. Dave Martin and Brian Mooney of Northmarq’s Denver office negotiated the sale on behalf of Evergreen. Situated within the Clear Creek Crossing mixed-use development, Outlook Table Mesa offers a clubhouse featuring a business lounge, a fitness center, electric-vehicle charging stations and a secure mail room with package lockers and a dedicated space for oversized deliveries. Outdoor amenities include a hot tub and a resort-style pool …

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Affordable HousingDevelopmentFloridaNewsSoutheast

Dominium Acquires Land to Develop Orlando-Area LIHTC Property

by Lynn Peisner

APOPKA, FLA. — Affordable housing developer Dominium has acquired land in Apopka for the development of The Mira. The community will provide 300 rent-restricted homes for families in the Orlando metropolitan area. Apopka is about 20 miles northwest of downtown Orlando. Units are reserved for tenants earning between 50 and 80 percent of area median income. A construction timeline was not disclosed. Upon completion, The Mira will offer 96 one-bedroom, 132 two-bedroom and 72 four-bedroom apartment homes. The community will also feature a range of amenities, including a clubhouse, fitness …

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Gov-Ferguson-Bill-Signing
Affordable HousingNewsWashingtonWestern

Washington State’s Newly Enacted Rent Control Law is Shortsighted, Say Developers

by Lynn Peisner

SEATTLE — Washington Gov. Bob Ferguson has signed House Bill 1217, which limits yearly rent increases for existing tenants in Washington state to 7 percent plus inflation or 10 percent, whichever is lower. Landlords can still adjust rent by higher amounts for new tenants. The bill also limits rent increases for manufactured homes to 5 percent per year. HB 1217, as well as several other bills, were signed on May 7 at the Blake House affordable housing high rise in downtown Seattle. The bill automatically became law upon signing. Other …

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Tishman Speyer Nashville
Investment SalesNewsSoutheastTennessee

Tishman Speyer Buys Midtown Nashville Property

by Lynn Peisner

NASHVILLE, TENN. — Tishman Speyer has acquired 2010 West End Avenue for $112 million. The 25-story, 358-unit property was developed by CA Ventures in 2021 in the Midtown area of Nashville, within walking distance to Vanderbilt University. Tishman Speyer’s acquisition was financed in part by a $67.2 million loan from Corebridge. 2010 West End Avenue includes 6,000 square feet of ground-floor retail. Units are offered as studios, one- or two-bedroom floor plans. A rooftop pool, hot tub, a fitness center and dog run are among the amenities. The asset is …

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21 Hollywood
DevelopmentFloridaNewsSoutheast

Starlife Group Launches Vertical Construction for 13-Story Project in Hollywood, Florida

by Channing Hamilton

HOLLYWOOD, FLA. — Starlife Group has launched vertical construction on 21 Hollywood, a 13-story mixed-use project located in Hollywood, roughly 20 miles north of Miami, Florida. The complex will feature 200 apartments and 10,000 square feet of ground floor retail space. Amenities will include a business center, coworking spaces, private conference room and a fitness center with a dedicated yoga and Pilates room. Residents will also have access to a children’s play area, dog park and dog spa, dual cinemas and an 85-foot infinity pool that serves as the centerpiece …

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