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John Williams
Affordable HousingDevelopmentFinanceIndustry VoicesMidwestNortheastSoutheastTexasWestern

Public-Private Partnerships: A Creative Approach to Increasing Affordable Housing Supply

by Channing Hamilton

— By John Williams, president, CIO and COO of Avanath Capital Management It’s no secret that the dire shortage of affordable housing is an ongoing issue throughout the nation. The National Multifamily Housing Council reported in 2022 that the United States would need to build 4.3 million new apartments by 2035 to meet demand. The report also stated that the nation’s number of affordable housing units declined by 4.7 million from 2015 to 2020. Unfortunately, there is no one-size-fits-all solution to the problem. Both local and federal governments are taking …

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The Marquis of Tampa in Tampa, Florida
FloridaInvestment SalesNewsSoutheast

JPM Brokers Sale of 357-Unit The Marquis of Tampa in Tampa, Florida

by Channing Hamilton

TAMPA, FLA. — JPM Institutional Multifamily has brokered the sale of The Marquis of Tampa, a 357-unit community in Tampa. The Marquis of Tampa was built in 1998. The community features town-home style units in one-, two-, three- and four-bedroom layouts. The average unit size is 1,199 square feet. Amenities include two pools with sundecks, fitness center, business center, theater room and package lockers. Axonic Properties was the seller. The property will be rebranded as Windsor Highwoods Preserve.

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Tuscany Village in Sanford, Florida
DevelopmentFinanceFloridaNewsSoutheast

Royal Palm Cos., Mattoni Group Secure $86 Million Construction Financing for Tuscany Village Near Orlando

by Channing Hamilton

SANFORD, FLA. — A partnership between Royal Palm Cos. and Mattoni Group has secured $86 million in construction financing for Tuscany Village, a 420-unit development in the north Orlando suburb of Sanford. The financing comprises $68 million in debt from a partnership between City National Bank and Abanca USA and $18 million in preferred equity from Origin Investments. Tuscany Village is situated at 4201 W. First Street and comprises 21 acres. Construction is slated to begin in May. The community will be delivered in phases by 2026.

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AlabamaCompany NewsNewsPeople NewsSoutheast

Capstone Development Partners Hires Jordan Gaston as Vice President for New Workforce Housing Business Line

by Channing Hamilton

BIRMINGHAM, ALA. — Capstone Development Partners has hired Jordan Gaston to the new leadership role of vice president, head of workforce housing. In this role, Gaston will take part in the company’s efforts to expand its business into the financing, development and operation of workforce housing. He previously served as the Director of Finance within Capstone’s finance division from 2016 to 2021. Most recently, he held the position of vice president in Citigroup’s public finance department.

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Build-to-RentDevelopmentNewsNorth CarolinaSoutheast

Stark Enterprises Breaks Ground on Build-to-Rent Community in Bolivia, North Carolina

by Channing Hamilton

BOLIVIA, N.C. — Stark Enterprises, in collaboration with its affiliated companies Stark Living and Arbor Construction, has begun constructing Oak Harbor Village, a 23-acre build-to-rent community in Bolivia, 22 miles southwest of Wilmington, North Carolina. The asset will offer 130 ranch-style and townhome units. Units will come in one- to three-bedroom floor plans. Planned amenities include a clubhouse, fitness center, dog park, playground, pool, sundeck, grilling stations and entertainment areas. The project is slated to complete in the summer of 2025, with pre-leasing slated to begin several months beforehand.

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An unnamed conversion project by Carr Properties in Alexandria, Virginia
DevelopmentNewsSoutheastVirginia

Carr Properties Plans 234-Unit Office-to-Multifamily Conversion in Alexandria, Virginia

by Channing Hamilton

ALEXANDRIA, VA. — Carr Properties has acquired a vacant office building located at 901 N. Pitt Street in the Old Town neighborhood of Alexandria. The buyer plans to convert the asset into a 250,000-square-foot community. The development team for the project includes SK+I Architecture, as well as interior design firm Edit Lab by Streetsense. The community will offer 234 apartments in studio through three-bedroom layouts, a portion of which will be set aside as affordable housing. The property will also feature below-grade parking, 15,800 square feet of outdoor space, a …

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Avalon Merrick Park in Miami
DevelopmentFloridaNewsSoutheast

Mast Capital, AvalonBay Complete 254-Unit Avalon Merrick Park in Miami

by Channing Hamilton

MIAMI — Mast Capital and Avalon Bay Communities have completed Avalon Merrick Park, a 254-unit property located at 3811 Shipping Ave. in the Coral Gables neighborhood of Miami. The community offers studio, one-, two- and three-bedroom apartments. Units range from 456 to 1,530 square feet in size. Amenities include a pool, fitness center, resident lounge with co-working spaces and a pet spa. Arquitectonica designed the community. First Florida was the general contractor on the project.

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DevelopmentGeorgiaNewsSoutheast

High Street Residential Acquires Four Acres Near Atlanta for 350-Unit Development

by Channing Hamilton

BROOKHAVEN, GA. — High Street Residential, the residential subsidiary of Trammell Crow Co., has acquired a four-acre parcel in the Atlanta suburb of Brookhaven. The buyer plans to develop a 350-unit community on the site. The development will be called The Residences at Perimeter Summit. Construction on the project is slated to begin by the end of the year. The project is expected to welcome its first residents in the fall of 2026. The Residences at Perimeter Summit will offer a mix of studio, one- and two-bedroom units with an …

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DevelopmentLeasing & MarketingNewsNorth CarolinaSoutheast

Lansing Melbourne Group, Denholtz Properties Begin Pre-Leasing for 167-Unit Novi Rise in Concord, North Carolina

by Channing Hamilton

CONCORD, N.C. — Lansing Melbourne Group and Denholtz Properties have begun pre-leasing for Novi Rise, a 167-unit community located at 30 Market Street in Concord. The property will rise seven stories. Community amenities include a lounge, fitness center, work pods, conference room, dog wash station and package lockers. Novi Rise will also feature 4,757 square feet of ground-level retail space, which will be leased to Salon Lofts. Novi Rise is scheduled to open on May 15.

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Blu South in Pineville, North Carolina
Build-to-RentDevelopmentInvestment SalesNewsNorth CarolinaSoutheast

JLL Capital Markets Brokers Sale of 551-Unit Build-to-Rent Community in Charlotte Suburb

by Channing Hamilton

PINEVILLE, N.C. — JLL Capital Markets has negotiated the sale of Blu South, a build-to-rent community in the Charlotte suburb of Pineville. Hines U.S. Property Partners purchased the asset from Cornerstone Development for an undisclosed price. The transaction consists of the sale of 365 existing units, as well as the forward sale of 186 units. Casey Sherman and John Gavigan led the JLL Capital Markets Investment Sales Advisory team. Construction on Blue South began in 2022 and is slated for full completion in 2025. At full build-out, the property will feature …

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