Southeast

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-Florida
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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Skye-topping-out-delray-beach
DevelopmentFloridaNewsSoutheast

ANF Tops Out Skye Apartments in Delray Beach, Florida

by Lynn Peisner

DELRAY BEACH, FLA. — Davie, Florida-based construction firm ANF has topped out Skye Apartments, the second phase of the 50-acre Parks at Delray mixed-use development. Project developers are 13th Floor Investments and Key International, in partnership with CDS International Holdings and Wexford Capital. Skye will include studio, one-, two- and three-bedroom units, ranging from approximately 560 to 1,427 square feet, along with townhomes ranging from 1,670 to 1,770 square feet. Amenities will feature a resort-style pool with cabanas and a bar, parks with jogging trails, barbecue areas, a playground, coworking …

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Silver-Oaks-Tampa
Affordable HousingDevelopmentFloridaInvestment SalesNewsSoutheast

Fairstead Invests $54.7M to Acquire and Redevelop Silver Oaks Apartments in Tampa, Florida

by Lynn Peisner

TAMPA, FLA. — New York City-based affordable housing developer Fairstead has announced the $54.7 million acquisition and rehabilitation of Silver Oaks Apartments in Tampa. The 200-unit property was built in 1973 and is governed by Section 8 and Low-Income Housing Tax Credit (LIHTC) affordability restrictions, with all units reserved for households earning up to 60 percent of area median income. Construction and redevelopment efforts at Silver Oaks Apartments will begin in the second quarter of this year with completion slated for the third quarter of 2027. Located at 4200 Kenneth …

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Park-at-Whispering-Pines-Daphne
AlabamaInvestment SalesNewsSoutheast

Cushman & Wakefield Represents Seller in Daphne, Alabama, Transaction

by Lynn Peisner

DAPHNE, ALA. — Cushman & Wakefield has represented a private seller in its disposition of Park at Whispering Pines in Daphne, located along the Gulf Coast of Alabama, about 15 miles east of Mobile. Northcutt Investments purchased the asset for an undisclosed sum. The transaction included the property’s 143 units as well as approximately 10 extra acres of developable land. The community was built in 2008.

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The-Jewel-at-Santa-Rosa
FinanceFloridaNewsSoutheast

Walker & Dunlop Arranges $79M ReFi for Bristol Development’s Jewel at Santa Rosa Beach in Florida

by Lynn Peisner

SANTA ROSA BEACH, FLA. — Walker & Dunlop has arranged a $79 million refinancing loan for The Jewel at Santa Rosa Beach, a 408-unit property in Santa Rosa Beach. The borrower was Bristol Development Group. The Walker & Dunlop Capital Markets Real Estate Finance team led by Jeremy Pino, Livingston Hessam, Carl Passmore and Kyle Miller coordinated the transaction alongside Walker & Dunlop FHA Finance’s Keith Melton and David Strange to arrange the interest-only, non-recourse bridge loan with an institutional debt fund. The Jewel at Santa Rosa Beach includes one-, …

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