HOUSTON — The NHP Foundation (NHPF), a nonprofit affordable housing developer headquartered in New York City, is constructing RoseMary’s Place in Houston. RoseMary’s Place will offer 149 units for people experiencing homelessness. Funding for the $45 million project includes $18.7 million from the city of Houston Housing and Community Development Department, $10.2 million from Harris County Community Services Department, $13.6 million from the sale of tax credits to Hudson Housing and $2.4 million from Magnificat Houses Inc. (MHI) as a sponsor loan. Building features and resident services will include in-house …
HOUSTON — Sueba USA will develop San Paseo, a 292-unit, gated-community in Houston. Twenty of the units will be townhomes. San Paseo will be constructed next to two other Sueba USA-developed multifamily properties, San Tierra and San Remo. Southhampton Management Inc., an affiliate of Sueba USA, will manage the property, and pre-leasing is expected to begin in March 2024. Apartments come in studio, one-, two- and three-bedroom floor plans and include features such as stainless steel appliances, granite countertops, wood-style flooring, in-unit washers and dryers and patios or balconies in some homes. …
HOUSTON — National real estate developer Wood Partners has broken ground on Alta Sunset Heights in Houston. The community will be comprised of 378 one- and two-bedroom units. Delivery is estimated to be early next year. Pre-leasing will begin in December. Equity for the community was provided by EuroInvestor, which is Wood Partners’ German-based partner on the deal. Amenities include a pool, outdoor kitchen, dog park and a clubhouse with a fitness center, business center and entertainment spaces.
Long known as a key center for oil and gas companies and dubbed “The Energy Capital of the World,” Houston today is positioning itself as the proving ground for alternative energies. Jobs, and therefore apartment demand, are following close behind, keeping investors busy. Per Yardi Matrix, Houston is one of only a few metros in which employment rates have returned to pre-pandemic levels. The multifamily sector, alongside many others, is reaping the benefits of such a bounce. Employment expanded by 150,400 jobs, about 5.2 percent, from March 2021 to July …
DALLAS — Revere Capital has hired Will Bohannan as director of capital markets. Bohannan comes to Revere Capital from Walton Global Holdings, where he served as senior vice president of national accounts. Prior to his career with Walton, Bohannan was senior vice president at ClickIPO, a finance brokerage based in Scottsdale, Arizona, and senior vice president at Torrey Capital, an investment consulting and marketing firm based in San Diego, California. Revere Capital is an institutional private credit manager based out of Dallas. In the fourth quarter of 2022, Revere Capital’s …
FRISCO, TEXAS — Toll Brothers and Pondmoon Capital USA are co-developing Mirra, a five-story, 285-unit property in Frisco, about 40 miles north of Dallas. The joint venture will fund the project with equity as well as a $49.5 million construction loan provided by Santander Bank. Amenities will include a resort-style pool, co-working spaces, a bike area and outdoor lounge with games and barbecues. Mirra is located on a 3-acre lot in Frisco Square Town Center, a mixed-use development, and is adjacent to two other properties Toll Brothers developed with other …
TOMBALL, TEXAS — Locally based Ascendant Development has started construction of the 231-unit Haven at Treeline in Tomball, Texas, approximately 35 miles northwest of downtown Houston. The garden-style community will begin pre-leasing in summer 2024. Treeline at Tomball will consist of seven three-story buildings housing one- and two-bedroom floor plans ranging from 670 to 1,274 square feet. Amenities will include a clubhouse, fitness center with a yoga and spin room, a dog park, game room and a saltwater pool.
HOUSTON — Cushman & Wakefield has hired Jennifer Campbell, Joshua Hoffman and Avery Klatt to the firm’s Sunbelt Multifamily Advisory Group. Led by Campbell, the team will be responsible for Class A and B multifamily investment sales throughout the Houston metro area. Campbell, Hoffman and Klatt will be based in Cushman & Wakefield’s Houston office serving as executive managing director, senior director and director, respectively. Campbell comes from Institutional Property Advisors (IPA) where she led the company’s multifamily efforts for the Houston market. Hoffman and Klatt also come from IPA …
SAN ANTONIO — The San Antonio Apartment Association (SAAA) has announced its 2023 board of directors and welcomed a new executive director. The 2023 officers are President Renetta Quintana, Capstone Real Estate Services; President-Elect Ryan Baldwin, Franklin Apartment Management; Immediate Past President Victoria Dries-Keeler, Churchill Forge Properties; Past President Jennifer Morales, Asset Living; Vice President Chris Brown, Emergency Cleaning Solutions; Treasurer Sunny Giarritta, NRP Management; Secretary Alan Ross, Bob Ross Realty; and Product Service Council President Omar Rodriguez, Google Fiber. Additionally, Kyle Ward recently joined the association as executive director, …
DALLAS — Greysteel has promoted Jack Stone to managing director, investment sales. Stone specializes in the disposition of multifamily assets for private and institutional clients in Dallas, Fort Worth, El Paso and throughout Texas. He joined Greysteel in 2018 and has closed approximately $500 million in transactions since. Prior to his work with Greysteel, Stone was a real estate attorney.