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RoseMary's Place
Affordable HousingDevelopmentNewsTexas

NHP Foundation Opens $45 Million Supportive Housing Complex in Midtown Houston

by Channing Hamilton

HOUSTON — The NHP Foundation has opened RoseMary’s Place, a $45 million supportive housing complex in Midtown Houston. The four-story, 149-unit building is dedicated to supporting individuals or families who are currently or were recently experiencing homelessness. The NHP Foundation has partnered with nonprofit social services provider Magnificat Houses Inc. to operate RoseMary’s Place, which also offers three multipurpose rooms, two gathering areas, a warming kitchen and a 24-hour staffed entry desk. The City of Houston Housing & Community Development Department provided $18.7 million in financing for the project, while …

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The Links on PGA Parkway
DevelopmentFinanceNewsTexas

Carbon Cos., Greenway Receive $125 Million in Construction Financing for Project in Frisco, Texas 

by Channing Hamilton

FRISCO, TEXAS — Carbon Cos. and Greenway Investment Co. have received roughly $125 million in construction financing for The Links on PGA Parkway, an apartment community located about 30 miles north of Dallas in Frisco. The debt, which was arranged by the Carbon Cos. internal team, will be used to complete the construction of the final two phases of the four-phase, 38-acre development. The financing includes a syndicated bank loan facility and mezzanine loan. Origin Bank arranged the syndicated bank loan, with participant banks including Simmons Bank, North Dallas Bank …

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DevelopmentNewsTexas

Partnership Buys 226-Unit Complex in DeSoto, Texas

by Channing Hamilton

DESOTO, TEXAS — A partnership between RSN Property Group and Monday Properties has acquired Ventura Landings, a 226-unit asset located DeSoto, about 16 miles south of Dallas. Ventura Landings offers one- and two-bedroom units. Amenities include a pool, clubhouse, basketball court and on-site laundry facilities. The property was recently renovated. The new ownership plans to implement additional capital improvements and has already rebranded the property as Eagle Creek Landing. The seller and sales price were not disclosed. 

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Affordable HousingDevelopmentNewsTexas

Partnership Delivers 100-Unit Supportive Housing Project in Austin

by Channing Hamilton

AUSTIN, TEXAS — A partnership between SGI Ventures and the Austin Affordable Housing Corp. has completed Cady Lofts, a 100-unit supportive housing project in Austin’s Hancock neighborhood. Cady Lofts offers studio apartments for renters that are earning between 40 to 60 percent of the area median income, or who are overcoming homelessness, dealing with physical and developmental disabilities or recovering from addiction. Each studio will be fully-furnished and feature appliances and eco-friendly utility systems. Residents have access to a communal computer lab, health and wellness center, case management offices and …

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DevelopmentLeasing & MarketingNewsTexas

StreetLights Residential Begins Leasing 56-Unit Development in Dallas

by Channing Hamilton

DALLAS — Locally based developer StreetLights Residential has begun leasing The Galatyn, a 56-unit community in the Upper McKinney District of Dallas. The 20-story building features two- and three-bedroom units with an average size of 2,700 square feet. Amenities include a pool, fitness center, concierge services, a coffee bar, catering kitchen, dog wash and a landscaped courtyard. The development team broke ground on the project in fall 2023. StreetLights Creative Studio served as the architect for the project, and SLR Construction LLC was the general contractor. Both entities are affiliates …

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Potranco Commons
FinanceNewsTexas

Ladder Capital Provides $58.7 Million Loan for Refinancing of San Antonio Asset

by Channing Hamilton

SAN ANTONIO — New York City-based lender Ladder Capital has provided a $58.7 million bridge loan for the refinancing of Potranco Commons, a 360-unit community located in San Antonio’s Far West Side submarket.  Potranco Commons offers one-, two- and three-bedroom units that range from 541 to 1,355 square feet. The property comprises 15 three-story buildings. Roughly 40 percent of the units are reserved for renters earning 80 percent or less of the area median income. Amenities include a clubhouse, pool, fitness center, coffee bar, sand volleyball court, pet park, outdoor …

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Z Modulars Aerial Image
Content PartnerFeaturesFurniture, Fixtures & EquipmentIndustry ContentMidwestNortheastOperationsSoutheastSustainable/LEEDTechnologyTexasWestern

Texas Multifamily HVAC Trends: Why Developers Prefer All-Electric, All-Climate Heat Pumps

by Sarah Daniels

By Randall Towb of Mitsubishi Electric Trane HVAC US (METUS) Texas multifamily owners and developers are utilizing all-climate variable capacity heat pumps and variable refrigerant flow (VRF) systems for heating and air-conditioning (HVAC) needs in their low-rise, mid-rise and high-rise buildings. These systems deliver on both resident satisfaction and building owners’ return on investment (ROI) thanks to key benefits such as energy performance, zoned comfort, design flexibility, quiet operation, reduced maintenance and advanced controls and monitoring. In addition to resident comfort and ROI, these all-electric systems align with growing concerns …

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3200 Business Center Drive
DevelopmentNewsTexas

Pelican Builders Breaks Ground on 380-Unit Project in Metro Houston

by Channing Hamilton

PEARLAND, TEXAS — Houston-based developer Pelican Builders has broken ground on a 380-unit project located within Pearland Town Center in Pearland, about 20 miles southeast of Houston. Units will come in one- and two-bedroom floor plans and will range in size from 604 to 1,196 square feet. Amenities will include a pool, dog park, children’s play area, fitness center, business center and access to walking trails. Pelican Builders purchased the site at 3200 Business Center Drive from Tennessee-based REIT CBL Properties, the master developer of Pearland Town Center, about two …

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Justin Fossum
FinanceFloridaIndustry VoicesInvestment SalesNorth CarolinaSoutheastTennesseeTexas

Employment, Affordability and Growth Make These Sun Belt Markets Stand Out

by Channing Hamilton

By Justin Fossum, senior director of asset management, Hamilton Zanze In a period defined by shifting economic dynamics, demographic realignment and tightening capital markets, multifamily investors continue to seek clarity on where to find durable performance. While short-term volatility is likely to persist, certain metropolitan areas in the U.S. are demonstrating structural advantages that point to long-term outperformance. Austin, Texas; Charlotte, North Carolina; Nashville, Tennessee; and Tampa, Florida, stand out as four such markets. Each market benefits from a rare alignment of employment growth, business investment, in-migration and relative affordability, …

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An unnamed development in Hutto, Texas
DevelopmentNewsTexas

Partnership Begins Construction on 336-Unit Project Near Austin, Texas

by Channing Hamilton

HUTTO, TEXAS — A partnership between Wood Partners and ParkProperty Capital (PPC) has broken ground on a 336-unit development in Hutto, approximately 30 miles north of Austin. Located off of Ed Schmidt Boulevard, the community will comprise 10 three-story buildings.  Amenities will include a fitness center, a business lounge, private offices, a clubroom with a coffee station, pool and fenced dog park. Additionally, in collaboration with city officials, the development will feature two pickleball courts, parkland with a walking trail and an 18-hole disc golf course that will also be …

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