Southeast

Rendering of NRP Group's seventh Charlotte development, South Tryon

NRP Group Breaks Ground on South Tryon in Charlotte, North Carolina

by Lynn Peisner February 9, 2023

CHARLOTTE, N.C. — The NRP Group has broken ground on South Tryon, a 310-unit community in Charlotte’s South End neighborhood. The project cost was not disclosed, but Canyon Partners Real Estate (Canyon) has provided a preferred equity investment, and CIBC Bank USA has provided a construction loan. South Tryon is Canyon’s seventh equity transaction with The NRP Group. The five-story development will include a mix of one-, two- and three-bedroom apartments. Den floor plans will be available for one-bedroom units to accommodate post-pandemic, work-from-home trends. The NRP Group says South …

February 9, 2023

Development News Northeast Virginia

IDI Group, PTM Partners Complete 318-Unit Viridium in Woodbridge, Virginia

by Kari Lloyd February 9, 2023

WOODBRIDGE, VA. — Developers IDI Group Cos. and PTM Partners have jointly completed construction of Viridium, a 318-unit community located in Woodbridge, approximately 20 miles south of Washington, D.C. Construction began in the second quarter of 2021. Viridium features one, two- and three-bedroom apartment layouts, a range of resident amenities and access to the Occoquan River. According to Apartments.com, rents for Viridium range from $1,740 to $4,190 per month. The building completes the multi-phase development, which began more than 15 years ago with the construction of Viridium’s sister building, Rivergate …

February 9, 2023

Florida Investment Sales News Southeast

NAI Hallmark Brokers $30.9 Million Sale of River City Landing in Jacksonville, Florida

by Lynn Peisner February 8, 2023

JACKSONVILLE, FLA. — Toro Real Estate Partners has sold River City Landing Apartments in Jacksonville to Koda Capital for $30.9 million. NAI Hallmark Senior Vice President John Rutherford, Vice President Luke McCann and Associate Andrew Tyrrell brokered the transaction on behalf of both the buyer and seller. The community, located in the University Park submarket of Jacksonville, was built in 1968 and consists of 320 one-, two- or three-bedroom units within nine two-story buildings. Amenities include two pools, a playground, dog park and a two-story clubhouse. The apartments overlook a …

February 8, 2023

Rendering of future mixed-use project at Brightline site in Miami

Berkadia Development Florida News Southeast

Berkadia Arranges $39.5 Million Sale of Miami TOD Site

by Lynn Peisner February 8, 2023

MIAMI — A joint venture consisting of The John Buck Co., Florida Value Partners, BH Group and PEBB Enterprises has acquired a development site in Miami for $39.5 million. Berkadia arranged the sale. The property is entitled for the development of 301 residential units, 244,000 square feet of office space and approximately 7,000 square feet of retail. The 1-acre site, referred to as Miami Station, is located across from the Miami Central Brightline station. The Brightline is a rail system that runs between Miami and Orlando. Senior Managing Directors Jaret …

February 8, 2023

Development Georgia News Southeast

Geosam Capital to Develop Mixed-Use Project Near Atlanta with 7,000 Units

by Lynn Peisner February 7, 2023

HAMPTON, GA. — Geosam Capital, a Florida-based investment firm and developer, will break ground in 2024 on The Grove, a 1,280-acre, mixed-use project in Hampton, about 36 miles south of Atlanta. The Grove will include approximately 7,000 residential units, ranging from multifamily complexes to single-family units and townhomes. A project cost and estimated completion date were not disclosed. Geosam has retained NELSON Worldwide and Falcon Design Consultants for land planning and civil engineering, Taylor English Duma and Hilliard Starkey Law for legal counsel and NV5 for traffic planning and engineering. …

February 7, 2023

A rendering of Card Sound Key Apartments

Development Florida News Southeast

Coral Rock Development Will Break Ground in 2024 on Workforce Project Near Miami

by Lynn Peisner February 6, 2023

FLORIDA CITY, FLA. — Coral Rock Development Group will break ground in 2024 on Card Sound Key Apartments in Florida City, approximately 40 miles south of Miami. Card Sound Key Apartments will be comprised of 342 units in one-, two- and three-bedroom layouts. The developer says 20 percent of the units will be workforce housing, reserved for renters earning 100 percent or less of the area median income (AMI). Amenities will include an outdoor workout circuit called Vita Course, a pool, barbecue area, two-story clubhouse, dog park, playground and a …

February 6, 2023

Facade of ARIUM Charlotte apartment community

Market Reports North Carolina South Carolina Southeast

What’s Driving the Development Wave in the Carolinas?

by Lynn Peisner February 2, 2023

North and South Carolina may fly under the radar when it comes to ranking the nation’s top multifamily markets. But a closer look at the region reveals metrics that rival some of the busiest cities in the country. “One of the common themes across metros in these two states is just how differently both investors and developers view the region versus how they viewed it 10 years ago — and certainly versus 20 years ago,” says Carl Whitaker, director of research for Richardson, Texas-based RealPage, which provides data, analytics and …

February 2, 2023

Griffin Gate, a two-story multifamily property. The first floor is brick, the second floor is eggshell yellow.

Features Investment Sales Southeast

Roundtable: Southeast Brokers Bank on Region’s Renter Demand

by Channing Hamilton February 2, 2023

Nothing can compare to the rent growth and investment activity of 2021 and early 2022. Most brokers active in the Southeast predict the first half of 2023 will be slower compared with the past several quarters, but the second half of the year could provide just enough clarity about interest rates to inspire buyers and sellers. A positive spring leasing season could fan the flames of pent-up demand from investors who, for now, will wait to make their next move. Southeast Multifamily & Affordable Housing Business sent questionnaires via email to …

February 2, 2023

Development News North Carolina Southeast

Origin Investments, Spandrel Development Partners to Co-Develop Midrise in Raleigh, North Carolina

by Lynn Peisner February 1, 2023

RALEIGH, N.C. — Origin Investments and Spandrel Development Partners will co-develop an $87.4 million mixed-use project in Raleigh’s central business district. Mira Raleigh will be a seven-story building that will house 288 apartment units and 2,600 square feet of ground-floor office space. Units will be comprised of 80 studios, 130 one-bedroom units and 78 two bedrooms in a variety of floor plans. Amenities will include a club room with chef’s kitchen and bar area, a sky lounge with skyline views, coworking spaces and a 24-hour fitness center with Peloton bikes. …

February 1, 2023

A 3D render of Penler Cherokee, a single-story grey and brown building with a black roof and brown wood pillars.

Development Georgia News Southeast

Penler, Mcshane Construction Break Ground On 192-Unit Project Near Atlanta

by Channing Hamilton January 31, 2023

ACWORTH, GA. — Penler has broken ground on Penler Cherokee, a 192-unit project in Acworth, located approximately 35 miles northwest of Atlanta. McShane Construction Co. is the contractor, which also recently completed The Parker, a 240-unit community in nearby Dawsonville, Georgia, for Penler. The new Acworth apartments will be constructed within eight two-story, garden-style buildings. Amenities will include a clubhouse, fitness center, pool and private garages for residents. The architect for the project is Dynamik Design. Penler Cherokee is slated for completion in August 2024.

January 31, 2023

Newer Posts

Older Posts