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Lenox-Harlem
FinanceNew YorkNewsNortheast

Olnick Organization Secures $170.5M Refinancing for Harlem Property

by Lynn Peisner

NEW YORK CITY — The Olnick Organization, a New York City-based development and property management firm founded in 1946, has refinanced one of its legacy assets, Lenox Terrace, with a $170.5 million loan provided by Chase Commercial Bank. Walker & Dunlop’s Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Ianno and Cody Ela arranged the financing. Six 16-story buildings house Lenox Terrace’s 1,696 units, most of which are rent-regulated. The property, located at 484 Malcolm X Blvd. in Central Harlem, was developed in 1958 and …

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Coppertree-Village-Houston
Affordable HousingDevelopmentNewsTexas

Fairstead Completes $26M Renovation of Coppertree Village in Houston

by Lynn Peisner

HOUSTON — Fairstead, a New York City-based affordable housing developer, has completed the $26 million renovation of Coppertree Village, a 324-unit affordable housing community in the Acres Homes neighborhood of northwest Houston. Fairstead’s renovations included new kitchen cabinetry, countertops and energy-efficient appliances; upgraded bathrooms with new plumbing fixtures; a new outdoor playground; and perimeter fencing and controlled access. Units are rent restricted to 50 and 60 percent of area median income. Coppertree Village was originally developed in the early 1970s.

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lummus-parc-miami
Affordable HousingDevelopmentFinanceFloridaNewsSoutheast

Greystone Provides $167M in Financing for Gallery at Lummus Parc in Miami

by Lynn Peisner

MIAMI — Greystone has provided and arranged $167 million in construction financing, Low-Income Housing Tax Credit (LIHTC) equity and permanent financing for Gallery at Lummus Parc, a 257-unit mixed-income project in downtown Miami. Locally based Related Urban Development Group is the developer. Construction is underway, and completion is slated for late 2028. Gallery at Lummus Parc is the 257-unit, 27-story first phase of a planned two-tower, 439-unit development. A second 182-unit tower, Residences at Lummus Parc, is planned as a separate phase. Greystone’s $167 million financing package applies to the …

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The-Albert-Saint-Paul
DevelopmentMidwestMinnesotaNews

Ryan Opens 97-Unit The Albert, Civic Square at St. Paul Ford Site

by Lynn Peisner

SAINT PAUL, MINN. — Locally based Ryan Cos. has opened The Albert and adjacent Civic Square — an open-air plaza — within Highland Bridge, the 122-acre redevelopment of the former Ford Motor Co. Twin Cities Assembly Plant site in St. Paul. The Albert is part of a $68 million mixed-use phase that also includes retail buildings, a daycare center and structured parking. The east side of The Albert incorporates a reconstructed portion of the historic 1920s assembly plant facade, originally designed by architect Albert Kahn, for whom The Albert is …

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The-Exchange-Salem
Affordable HousingDevelopmentMassachusettsNewsNortheast

WinnDevelopment Secures Financing for $48M Massachusetts Affordable Housing Development

by Lynn Peisner

SALEM, MASS. — WinnDevelopment has secured financing for a 115-unit, $48 million mixed-income community in Salem. The Exchange Salem will be a transit-oriented project, built adjacent to Salem’s Massachusetts Bay Transportation Authority (MBTA) commuter rail station. The seven-story ground-up development is being erected on the site of a former municipal parking lot overlooking the mass transit station and parking garage. The Exchange will comprise studios, one- and two-bedroom apartments, about half of which will be affordable to renters earning up to 60 percent of area median income (AMI). Remaining units …

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Griffis-Union-Station-Denver
ColoradoFinanceNewsWestern

Griffis Residential Obtains $86.1M Refinancing for Denver Asset

by Lynn Peisner

DENVER — JLL Capital Markets has arranged an $86.1 million refinancing loan for Griffis Union Station, a 400-unit property owned by Greenwood Village, Colorado-based multifamily investment company Griffis Residential. Completed in 2010, Griffis Union Station is located at 2905 Inca St. in downtown Denver, stands five stories tall and offers one- and two-bedroom units and such amenities as a fitness center, resort-style pool, clubhouse, lounge, business center, grilling stations, game room, dog park and pet washing station. JLL’s team was led by Eric Tupler, Kevin Barron and Jake Martin.

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The-Adeline-Ann-Arbor
Affordable HousingDevelopmentMichiganMidwestNews

Related Midwest Breaks Ground on $220M Affordable Housing Redevelopment in Ann Arbor, Michigan

by Lynn Peisner

ANN ARBOR, MICH. — Related Midwest, the Chicago office of Related Cos., and the Ann Arbor Housing Commission have broken ground on The Adeline, a 20-story, 330-unit affordable housing community in downtown Ann Arbor. The project cost was listed as $220 million when digital news group MLive reported the city’s approval of the development in October 2025. Most units are reserved for households earning up to 80 percent of area median income (AMI). About one-third of the apartments will be reserved for households earning 30 percent or less of AMI. …

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Pavilion-Village-Charlotte
Investment SalesNewsNorth CarolinaSoutheast

Hamilton Point Investments Acquires Pavilion Village in Charlotte for $56.8M

by Lynn Peisner

CHARLOTTE, N.C. — Chicago-based Pearlmark and Montana-based BCAP Properties have sold Pavilion Village, a 294-unit property in Northeast Charlotte to Hamilton Point Investments for approximately $56.8 million. JLL’s John Gavigan, John Mikels, Ben Bury, Chase Monroe and McCullough Campbell represented the seller. Pavilion Village was built in 2015 and is made up of one-, two- and three-bedroom units averaging 910 square feet. Amenities at the 26-acre property include a clubhouse, resort-style pool, fitness center, business center and a dog park. Parking is available in a mix of surface spaces and …

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Arbor-South-Ann-Arbor
Affordable HousingDevelopmentMichiganMidwestNews

Michigan Approves $651M Ann Arbor Mixed-Income Project

by Lynn Peisner

ANN ARBOR, MICH. — Oxford Cos. and Crawford Hoying have received final approval from the Michigan Strategic Fund Board for Arbor South, a mixed-use redevelopment project covering approximately 20 acres on the south side of Ann Arbor. The project cost is estimated at $651 million. Arbor South, a brownfield development, is expected to include 1,069 residential units and encompass more than 2.2 million square feet. Plans call for predominantly rental apartments as well as a small for-sale component. Detailed city plans include 30 condominium units and 209 permanently affordable apartments …

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Sunsweet-Morgan-Hill
CaliforniaInvestment SalesNewsWestern

Keech Properties Buys Silicon Valley’s Sunsweet Apartments for $45M

by Lynn Peisner

MORGAN HILL, CALIF. — Redwood City, California-based Keech Properties has acquired Sunsweet Apartments in Morgan Hill, about 10 miles south of San Jose, California, for $45 million. According to The Mercury News, the seller was Republic Urban Properties, a San Jose-based developer represented in the deal by Northmarq’s Walnut Creek Investment Sales team led by Anthony Pappageorge and Zach LeBeouf. Built in 2020, Sunsweet Apartments is situated on a 1.9-acre site. A resort-style pool, fitness center, clubhouse, electric vehicle charging stations and multiple outdoor gathering spaces complement the 87 studios, …

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