Southeast

Villages-of-Hayti-Durham
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

Gilbane Breaks Ground on Villages of Hayti Affordable Housing Redevelopment in Durham, North Carolina

by Lynn Peisner

DURHAM, N.C. — Gilbane Development, along with several project partners, has broken ground on Villages of Hayti, a 252-unit affordable housing community in the Hayti neighborhood of Durham. Gilbane’s partners include the Durham Housing Authority and Durham Community Partners, a group consisting of Harmony Housing Affordable Development and F7 Development. The Hayti Community Advisory Committee also participated. The project is a redevelopment of a 20-acre former public housing site called Fayette Place. Villages of Hayti is structured as a Low‑Income Housing Tax Credit (LIHTC) development and will provide homes rented …

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Bayside-Apartments-Sarasota
DevelopmentFinanceFloridaNewsSoutheast

Allen Morris Co. Secures $43M to Develop Phase II of Bayside in Sarasota, Florida

by Lynn Peisner

SARASOTA, FLA. — Developer Allen Morris Co. has secured a $43 million construction loan to develop Bayside North, the second phase of the $250 million Bayside project in Sarasota. Affinius Capital and Axonic Capital provided the financing. Bayside North will include a seven-story, 96-unit building with one-, two- and three-bedroom floor plans. Fifteen units are classified as workforce housing. Rent restrictions were not disclosed. The property will feature a top-floor clubhouse with views of Sarasota Bay. Ground-floor amenities include a pickleball court and a 3,000-square-foot restaurant. The broader Bayside community …

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biscayne-shores-North-Miami
FloridaInvestment SalesNewsSoutheast

RPM Living, Cantor Fitzgerald Asset Management Buy Biscayne Shores in North Miami

by Lynn Peisner

NORTH MIAMI, FLA. — RPM Living and affiliates of Cantor Fitzgerald Asset Management (CFAM), the investment and asset management division of global financial services and real estate holding group Cantor Fitzgerald, have acquired Biscayne Shores in North Miami, an 8-acre property developed by Integra Investments, the seller. Integra’s development partners included Andrew Korge of Korgeous Group and David Larson of DCL Capital. The group acquired the site in 2020 and completed construction in 2024. The transaction follows previous CFAM and RPM acquisitions in Dallas, Denver, Houston, Orlando and Tampa. Terms …

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FinanceInvestment SalesNewsSoutheastTexas

Hilltop Residential Closes $288M Fund

by Lynn Peisner

HOUSTON — Hilltop Residential, an owner of multifamily real estate that operates across 15 markets in the southeastern United States, has closed Hilltop Growth Fund VI with $288 million in total commitments. Hilltop will seek value-add assets in business-friendly markets demonstrating population and job growth. The investor base includes endowments and foundations, financial institutions, insurance companies, national registered investment advisor (RIA) platforms and family offices. Hilltop expects Fund VI to acquire approximately $1.5 to $2 billion in gross asset value. Through the fund, nine assets have been acquired to date, …

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The-River-Chester
DevelopmentNewsSoutheastVirginia

Emerson Cos., Philip Roper Open The River Apartments in Chester, Virginia

by Lynn Peisner

CHESTER, VA. — Emerson Cos. and Philip Roper have opened the The River Apartments, consisting of 201 one-, two- and three-bedroom units in Chester, approximately 16 miles south of Richmond. The project team also included 2PA as architect, Highmark Engineering as civil engineer, KBS as general contractor and Focus Design as interior designer. Cite Design was the landscape architect, and Burke & Herbert Bank provided construction financing. Capital Square Living, a subsidiary of Capital Square, is the property manager. Amenities at the community include a saltwater pool, fitness center, grilling …

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Affordable HousingConference CoverageFeaturesSoutheast

Affordable Housing Stakeholders Are Going the Extra Mile to Assist Cost-Burdened Renters, Says InterFace Panel

by Kristin Harlow

ATLANTA — Affordable housing developers are fighting an uphill battle, and on multiple fronts. On the demand side, renters are more cost-burdened than ever before. According to the “America’s Rental Housing 2026”report from the Joint Center for Housing Studies of Harvard University, the number of renters who are cost-burdened (households that spend more than 30 percent of their income on rent and utilities) reached a new record high in 2024. The report found that 22.7 million renter households were cost-burdened in 2024, with 12.1 million households qualifying as “severely cost-burdened” …

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Normandy-Cove-Jacksonville
Affordable HousingDevelopmentFloridaNewsSoutheast

Housing Trust Group Breaks Ground on Normandy Cove in Jacksonville, Florida

by Lynn Peisner

JACKSONVILLE, FLA. — Housing Trust Group (HTG) has secured financing and begun construction of Normandy Cove, a 144-unit affordable housing community in the Westside area of Jacksonville. Apartments will be reserved for income-qualifying renters earning up to 30, 60 and 70 percent of area median income, with monthly asking rents ranging from $470 to $1,716. Half of Normandy Cove’s units will be specifically for active-duty military members and veterans, including some units solely for veterans experiencing homelessness. HTG is partnering with local organizations Hope4Veterans and I.M. Sulzebacher Center for the …

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Charleston-Ridge-New-Port-Richey
DevelopmentFloridaNewsSoutheast

Dobbins Group Breaks Ground on Charleston Ridge in New Port Richey, Florida

by Lynn Peisner

NEW PORT RICHEY, FLA. — Dobbins Group has broken ground on Charleston Ridge Apartments, a 230-unit community in New Port Richey, approximately 37 miles northwest of Tampa, Florida. Capstone Building Corp. is the general contractor. Charleston Ridge will feature six two-bedroom townhomes above 10,000 square feet of commercial space and four four-story apartment buildings with 224 units. Amenities include a clubhouse, fitness center, lounge, tenant market, pool, electric vehicle charging stations and community-wide Wi-Fi. Completion is slated for 2027. Headquartered in Birmingham, Alabama, Dobbins Group is a multifamily investment and …

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Twelve03-Charlotte
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

The Fallon Co. Secures $100.5M in Construction Financing for Twelve03 at Centre South in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — JLL has arranged $100.5 million in debt and equity for the construction of Twelve03 at Centre South, a 329-unit mixed-income community in Charlotte. Boston-based The Fallon Co. is the developer and borrower. The debt was secured through TD Bank, while RXR Realty Investments was the equity source. JLL’s Taylor Allison, Alexis Kaiser and Ryan Mueller handled the transaction. Led by The Fallon Co. in partnership with Charlotte-based Inlivian, Twelve03 is the first phase of Centre South, a $500 million, 16.7-acre mixed-use development. When complete, the project will …

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Leena-Ocala-2
DevelopmentFinanceFloridaNewsSoutheast

Merrimac Ventures Secures $62.5M to Construct Leena Ocala

by Lynn Peisner

OCALA, FLA. — Merrimac Ventures and Southern Waters Capital have secured $62.5 million in construction financing from ACORE CAPITAL to fund development of Leena Ocala, a 360-unit community in Ocala. Located on a 36-acre site at SW 60th Ave. and SW 52nd St., the project will include 300 garden-style apartments across multiple three-story buildings, along with 60 two-story townhome residences. Amenities include multiple walking trails, neighborhood parks, landscaped open areas, a dog park and pickleball courts. A central clubhouse will feature a fitness center and resort-style pool, along with a …

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