PLANO, TEXAS — Comunidad Partners, an Austin, Texas-based investment firm with a focus on workforce and attainable housing communities in the Sun Belt region, has appointed Ty Barnes as head of investments. In his new position, Barnes will lead the firm’s acquisition, capital markets and portfolio management strategies. Most recently, he held senior roles at Tishman Speyer, Taconic Partners, Related Cos. and WinnResidential.
FORT WASHINGTON, PENN. — Jefferson Apartment Group (JAG), along with equity partner CP Capital, has delivered J Veridian at Upper Dublin in Fort Washington, about 25 miles north of Philadelphia. Situated on a 14 acre-site at 1125 Virginia Drive, the community spans 310 units across three five-story buildings. Units range from one- to three-bedroom floor plans. The complex also offers 12,000 square feet of indoor amenities anchored by a clubroom and bar. Other features include a game area with billiards, shuffleboard and arcade gaming, lounge, poker room, fitness center, resident movie …
NASHVILLE, TENN. — Mill Creek Residential is constructing Modera Nations, a 396-unit project in The Nations neighborhood along the Cumberland River in Nashville. Situated at 1650 54th Ave. N, Modera Nations will be located about three miles west of the city’s downtown area. Mill Creek broke ground on the project in December 2023, with the first move-ins slated for fall 2025. Modera Nations will feature studio, one-, two- and three-bedroom apartments. Each unit will include a patio or balcony, as well as technology features such as smart thermostats, key fob …
BEAVERTON, ORE. — REACH Community Development and Mercy Housing Northwest have broken ground on Elmonica Station, a $51.8 million affordable housing project in Beaverton, eight miles west of Portland. The community will consist of 81 units for households earning at or below 60 percent of the area median income (AMI) or 30 percent AMI. Elmonica Station will feature a mix of studio, one-, two-, and three-bedroom apartments. Planned amenities include community rooms, outdoor play and gardening spaces, laundry rooms on all residential floors and a food pantry. The project is located at the …
CHICAGO — RMK Management Corp. has been named property manager for The Raven Residences, a transit-oriented rental community at 4733 N. Wolcott Ave. in Chicago’s Ravenswood neighborhood. Adjacent to the Ravenswood Metra station and walkable to the CTA’s Damen Brown Line stop, the property features 167 apartments and townhomes across two four-story brick buildings. The Raven was developed by Harlem Irving Cos. in 2023 and is currently 93 percent leased. Rents at The Raven start at $1,777 per month.
UNIVERSITY CITY, MO. — Subtext has begun development of LOCAL on Delmar, a 259-unit project in University City, roughly 10 miles west of St. Louis, Missouri. The development site is located at 6650 Delmar Blvd., about one mile from Washington University. The 398,225-square-foot building will feature a mix of studio, one-, two- and three-bedroom apartments and townhomes. The property will also include a five-story parking garage with 399 parking spaces, as well as approximately 7,100 square feet of street-level retail space. Amenities will include a clubroom, vinyl listening station, work-from-home …
MIAMI — Barry Chase has joined Eagle Property Capital (EPC), a Miami-based investment manager specializing in workforce housing, as a partner and managing principal. In this role, Chase will be responsible for co-leading EPC’s strategy and execution, as well as enhancing investment policies and procedures and contributing to new product offerings. Prior to joining EPC, Chase was one of the founders and served as the CEO and executive chairman of Belay Investment Group. Additionally, he has held senior executive positions at Koll Development, Cushman Realty Corp. and CT Realty. Since …
GRAND PRAIRIE, TEXAS — Atlantic Multifamily has sold The Destino, a 192-unit community located in Grand Prairie, roughly midway between Dallas and Fort Worth. The Destino was constructed on an 11-acre site in the 2000s. The community consists of 18 buildings and offers one-, two- and three-bedroom floor plans. Amenities include a pool, outdoor kitchen, playground and a dog park. Al Silva and Ford Braly of Marcus & Millichap represented the seller and procured the buyer, a New York-based private investment company, in the deal.
EVERETT, WASH. — CEP Multifamily has purchased Nimbus, a 165-unit property located at 2701 Rockefeller Ave. in Everett, approximately 30 miles north of Seattle. David Young, Corey Marx and Chris Ross of JLL Capital Markets represented the seller, Trent Development, in the deal. The eight-story complex traded hands for $49 million. Completed in 2022, Nimbus offers a mix of studio, one- and two-bedroom units. Amenities include a coworking lobby, fitness room, arcade, entertainment kitchen and rooftop lounge.
PORTSMOUTH, VA. — Woda Cooper Cos. Inc. has broken ground on Bains Pointe, a 50-unit affordable housing community located at 1100 High St. in Portsmouth, directly across the Elizabeth River from Norfolk, Virginia. Bains Pointe, in partnership with Bay Aging, will offer units to households earning up to 80 percent of the area median income. The unit mix includes 39 two-bedroom and 11 three-bedroom apartments. Several units will include features residents with mobility challenges or sight/hearing disabilities. Monthly rates are expected to range from $400 to $1,315. Tenants will have …
