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Kimberly-Ridge-NC
Affordable HousingDevelopmentFinanceNewsNorth CarolinaSoutheast

LEDG Completes Renovation of North Carolina Affordable Housing Property

by Lynn Peisner

KANNAPOLIS, N.C. — LEDG Capital has completed the $5.5 million renovation of Kimberly Ridge, a 76-unit property in Kannapolis the private affordable housing investor acquired in April 2024. Kannapolis is 28 miles northeast of Charlotte. During the 11-month rehabilitation effort at Kimberly Ridge, LEDG installed new kitchens, bathrooms, lighting fixtures and energy-efficient heating and cooling systems in all units and replaced roofs and repaired siding, gutters and parking surfaces. New community amenities and security features were added, and six apartments were modified to meet accessibility standards for the mobility impaired. …

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Coyote-Creek-San-Jose
Architecture & DesignCaliforniaDevelopmentNewsWestern

KTGY, Hanover Co. Break Ground on Market-Rate Community in Bay Area Mixed-Use Project

by Lynn Peisner

SAN JOSE, CALIF. — Developer Hanover Co. and architect KTGY have begun construction of Hanover Parkside, the first residential building located within Coyote Creek Village, a 22-acre mixed-use development in North San Jose. KTGY designed the three market-rate buildings, comprising 1,140 units, within 9.3 acres of the project. The master plan also includes 154 for-sale townhomes developed by SummerHill Homes and 136 affordable rental apartments that The Pacific Cos. will deliver in future phases. The first building, Hanover Parkside, is slated for completion by the fourth quarter of 2027. The …

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Tricon-Garland-Texas
Build-to-RentDevelopmentNewsTexas

Tricon Opens Two BTR Projects in the Dallas-Fort Worth Metro Area

by Lynn Peisner

GARLAND, TEXAS — Tricon Residential has opened Tricon Garland, a 257-unit build-to-rent project located at 5488 Sandstone Drive in the northeast Dallas suburb of Garland. The community was developed in partnership with HHS Residential. It offers a variety of three- and four-bedroom floor plans. Units feature two-car attached garages and fenced backyards. Community amenities include a dog park and outdoor spaces for children. Additionally, the joint venture developers also have opened Tricon Saginaw, a separate 166-unit BTR community about miles north of Fort Worth. Tricon Saginaw offers three and four-bedroom …

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Cooper-River-Farms-Charleston
DevelopmentNewsSouth CarolinaSoutheast

Woodfield Development Opens Phase II of Cooper River Farms in Charleston

by Lynn Peisner

CHARLESTON, S.C. — Locally based Woodfield Development has opened Phase II of the Cooper River Farms project in Charleston. The new four-story building adds 71 studio, one- and two-bedroom units to the property as well as a new dedicated workstation amenity, a fourth-floor lounge, a community bar, televisions and a pool table. A saltwater pool, a fitness center, nature trails and a dog park were delivered in the first phase. Construction of the second phase began in May 2024. The first phase of development was completed in 2015.

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Woodbury-Park-Arlington
Affordable HousingMarylandNewsNortheastOperationsWashington, D.C.

CAPREIT Tapped to Manage 21 Mid-Atlantic Affordable Housing Properties

by Lynn Peisner

BETHESDA, MD. — CAPREIT has been selected by Affordable Homes & Communities (AHC) to manage 21 properties, comprised of 3,019 units, in Maryland, Virginia and Washington, D.C. AHC is a developer of affordable and mixed-income communities. Bethesda-based CAPREIT owns and operates approximately 14,000 units of its own and is actively growing its third-party management business, according to a statement from the company.

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Sky-Three-Brooklyn
Leasing & MarketingNew YorkNewsNortheast

Leasing Underway at Brooklyn’s Sky Three Residences Club

by Lynn Peisner

NEW YORK CITY  — Cammeby’s International, in partnership with Rybak Development, has begun leasing Sky Three Residences Club, a three-tower, 1-million-square-foot project located at 532 Neptune Ave. in Brooklyn, less than a mile from Coney Island. The total project cost was not disclosed, however, the developers received a $252 million construction loan in July 2023. A portion of the residences are designated as affordable housing. The three-tower community offers 499 studio-to-three-bedroom units and 100,000 square feet of indoor and outdoor amenities that include a pool, a sauna, a massage room, …

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Barkley-Apartment-Homes-Bellingham
Investment SalesNewsWashingtonWestern

IPA Arranges $48 Million Sale in Bellingham, Washington

by Lynn Peisner

BELLINGHAM, WASH. — CEP Multifamily has sold Barkley Apartment Homes to buyer HB Management for $47.9 million. IPA’s Ryan Harmon, Giovanni Napoli, Philip Assouad, Nick Ruggiero and Anthony Palladino arranged the sale. Barkley Apartment Homes is a 202-unit property in the Barkley neighborhood of Bellingham. The asset’s sale price equates to $237,129 per unit. CEP Multifamily is based in Everett, Washington, and HB Management is headquartered in Seattle. Barkley Apartment Homes was built between 2001 and 2003 on approximately 10 acres. The 17-building property has a central leasing office, a …

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95-Challenger-Road-Ridgefield-Park
Affordable HousingDevelopmentNew YorkNewsNortheast

KABR Group, Hornrock Properties Break Ground on Six-Story Community in Northern New Jersey

by Lynn Peisner

RIDGEFIELD PARK, N.J. — KABR Group and Hornrock Properties have broken ground on a six-story, 216-unit community at 95 Challenger Road that is set within Ridgefield Park’s Overpeck Corporate Center, a 60-acre mixed use development in Ridgefield Park, located five miles west of Manhattan. Designed by Minno & Wasko Architects and Planners, the building will feature a mix of studio, one- and two-bedroom residences, 22 of which will be set aside as affordable housing. Rent caps were not disclosed. Amenities will include an outdoor pool, a lounge and café, coworking …

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The-Gray-Houston
Affordable HousingArkansasColoradoFinanceLouisianaMississippiNew MexicoNewsSoutheastTexasWestern

Federal Home Loan Bank of Dallas Awards $73.5 Million in Affordable Housing Grants

by Lynn Peisner

DALLAS — The Federal Home Loan Bank of Dallas (FHLB Dallas) has awarded $73.5 million in affordable housing grants to 53 projects in Arkansas, Colorado, Louisiana, Mississippi, New Mexico and Texas. FHLB Dallas is part of the Federal Home Loan Bank System, which consists of 11 district Federal Home Loan Banks created in 1932 to provide capital for mortgage funding and support for community investment. FHLB Dallas annually returns at least 10 percent of its profits in the form of affordable housing grants to the communities served by its member …

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Midtown-Cedar-Hill
Investment SalesNewsTexas

Beachwold Residential Sells Midtown Cedar Hill in Dallas Metro

by Lynn Peisner

CEDAR HILL, TEXAS — Beachwold Residential has sold Midtown Cedar Hill, a 354-unit property in Cedar Hill, 10 miles southwest of Dallas, to Centennial Holding Co. The sales price was not disclosed. Institutional Property Advisors (IPA) arranged the sale and acquisition financing, which consisted of an interest-only agency loan. Built in 2015 on approximately 13 acres, Midtown Cedar Hill is a gated, three-story garden-style property with a resort-style pool, a business center and picnic areas with barbecue grills. Apartments feature open-concept living areas, 9-to-12-foot ceilings and granite countertops. IPA’s team …

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