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Attain-at-Swift-Creek-Chester
DevelopmentNewsSoutheastVirginia

Bonaventure Breaks Ground on $93.3M Attain at Swift Creek in Virginia

by Lynn Peisner

CHESTER, VA. — Bonaventure has broken ground on Attain at Swift Creek, a 344-unit community in Chester, about 19 miles south of Richmond. Walker & Dunlop arranged a $93.3 million HUD loan that includes both construction and permanent debt. KBS is the general contractor, RBA is the architect, and Timmons Group is the civil engineer. A property management partner will be announced ahead of lease-up. Attain at Swift Creek will include one-, two- and three-bedroom units. Completion is slated for 2028. Alexandria, Virginia-based investment firm Bonaventure’s Attain pipeline is concentrated …

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Village-of-Estero-Florida
DevelopmentFloridaNewsSoutheast

FRP, Woodfield Start Construction of Mixed-Use Village of Estero

by Lynn Peisner

ESTERO, FLA. — FRP Development Corp. and Woodfield Development have begun construction of a multi-phase project in Estero, about 20 miles south of Fort Myers, Florida. Santander Bank provided an $81 million construction loan for the first phase of development, which will include 286 apartments and 30,000 square feet of retail space. Completion is slated for 2027. Brooks & Freund is the general contractor, and ID & Design International is leading interior design. Dover, Kohl & Partners served as master planner for the overall mixed-use development, while Humphreys & Partners …

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Tandem-Providence
Affordable HousingDevelopmentNewsNortheastRhode Island

Pennrose Completes Tandem, a Rhode Island Mixed-Income Community

by Lynn Peisner

PROVIDENCE, R.I. — Pennrose has completed and opened Tandem, the second of a two-phase project in the Fox Point neighborhood of Providence. Along with its sister property, Tempo, which opened in 2025, Tandem completes Pennrose’s redevelopment of Parcel 9, one of the sites created when a stretch of Interstate 195 was relocated in 2009 and former highway land was opened for redevelopment in Providence. Partners on the 9 percent Low-Income Housing Tax Credit project included 195 District, a redevelopment agency; the City of Providence; Webster Bank; RIHousing and several more. …

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Evergreen-East-Fairport
Affordable HousingDevelopmentNewsNortheast

WinnCos. Completes $86M Affordable Housing Redevelopment in Upstate New York

by Lynn Peisner

FAIRPORT, N.Y. — WinnCos. has completed the $86 million redevelopment of Evergreen East, a 508-unit affordable housing community in Fairport. Originally constructed between 1972 and 1976 by the New York State Urban Development Corp. (UDC), the property, formerly known as the Pines of Perinton Apartments, was added to the National Register of Historic Places in January 2023. It was noted as an example of UDC’s suburban housing program, which sought to address post-World War II housing shortages with low-density, mixed-income apartments outside urban centers. The property is about 10 miles …

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Avalon-Denver
Affordable HousingCompany NewsDevelopmentInvestment SalesNewsOperations

Vivmark Becomes Nation’s Largest Apartment REIT

by Lynn Peisner

CHICAGO and ARLINGTON, VA. — AvalonBay Communities and Equity Residential have completed their merger, creating Vivmark Residential, a new real estate investment trust, which began trading on the New York Stock Exchange under the ticker symbol VMRK on Aug. 18. With a portfolio of approximately 184,000 owned apartments and 11,100 units under construction, Vivmark Residential is now the country’s largest multifamily owner, surpassing Greystar. As of Jan. 1, 2026, Greystar ranked as the top U.S. multifamily owner for the third consecutive year with 119,160 units in its portfolio, according to …

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The-Lumberyard-Davis
Affordable HousingCaliforniaDevelopmentNewsSustainable/LEEDWestern

The Michaels Organization, JOIN and KUDA Break Ground on $88M Project in Davis, California

by Lynn Peisner

DAVIS, CALIF. — The Michaels Organization and has broken ground on an $88 million community called The Lumberyard in Davis. Development partners include Kyuden Urban Development America (KUDA) and Japan Overseas Infrastructure Investment Corp. for Transport and Urban Development (JOIN), a Tokyo-based firm specializing in overseas transportation and urban development projects. KUDA is the U.S. real estate development subsidiary of Japan-based Kyushu Electric Power Co. The Lumberyard takes its name from Hibbert’s Lumberyard and Hardware Store, which operated on the development site at the intersection of G and 5th streets …

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Seasons-at-Horsetooth-Crossing-Fort-Collins
ColoradoInvestment SalesNewsWestern

The Rainier Cos. Sells Property Near Colorado State University for $62.7M

by Lynn Peisner

FORT COLLINS, COLO. — JLL has arranged the $62.7 million sale of Seasons at Horsetooth Crossing in Fort Collins as well as a $38.8 million Freddie Mac acquisition loan for the buyer, which was a Hamilton Zanze-sponsored Delaware Statutory Trust. The seller was The Rainier Cos. Seasons at Horsetooth Crossing, located about three miles south of Colorado State University, is a 208-unit garden-style property consisting of 26 two-story buildings with one-, two- and three-bedroom units. Amenities include a clubhouse, fitness center, pool, business center, courtyard, grills and bike storage.

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Elara-Astoria
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Domain Secures $175.6M for Mixed-Income Development in Queens

by Lynn Peisner

NEW YORK CITY — The Domain Cos. has obtained a $175.6 million loan through Wells Fargo for a mixed-income development in Astoria, Queens, called Elara. Domain’s equity partners on the deal are Canyon Partners Real Estate and BLDG Management. The financing was arranged by Chris Peck and Nicco Lupo of JLL. The 429-unit project includes an 18-story building with 330 apartments called Elara East and a 12-story building with 99 apartments named Elara West. Twenty-five percent of the units will be affordable. Income caps were not disclosed. Completion of Elara …

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The-Pearl-Charlotte
DevelopmentFinanceNewsNorth CarolinaSoutheast

GMH-led JV Secures $114.2M Construction Loan for Charlotte High-Rise

by Lynn Peisner

CHARLOTTE, N.C. — JLL has arranged a $114.2 million construction loan for ANOVA The Pearl, a 20-story, 382-unit unit high-rise under construction in Charlotte. GMH Communities, AEW Capital Management and Wexford Science & Technology broke ground in spring of this year. Completion is slated for 2028. The lender was Santander Bank. ANOVA The Pearl will feature studio, one-, two- and three-bedroom units complemented by 6,621 square feet of ground-floor retail, a fitness center, resort-style pool, rooftop lounge, golf simulator and coworking space. The development is located within The Pearl, a …

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2-South-Main-Port-Chester
DevelopmentFinanceNew YorkNewsNortheast

Developers Secure $147.5M for 12-Story Development in Port Chester, N.Y.

by Lynn Peisner

PORT CHESTER, N.Y. — Walker & Dunlop has arranged $147.5 million in debt and equity for the construction of 2 South Main, a 12-story, 322-unit property with 5,000 square feet of retail in Port Chester. Hyperion Group and AIP are the developers, and LRC Construction is the general contractor. Winter Properties also is a partner in the project. Construction will begin in the fourth quarter of 2026. A completion date was not disclosed. Walker & Dunlop’s Mo Beler, Jonathan Paine, Cory Elbaum, Jackson Irwin and Dawson Jessee arranged the equity …

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