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Indigo in Richmond, Texas
DevelopmentNewsTexas

Meristem Communities Breaks Ground on 235-Acre Mixed-Use Project in Richmond, Texas

by Channing Hamilton

RICHMOND, TEXAS — Houston-based developer Meristem Communities has broken ground on the first building at Indigo, a 235-acre mixed-use project in Richmond, approximately 35 miles southwest of Houston. Upon completion, Indigo will include 800 residences, 42 acres devoted to agriculture and a 12-acre mixed-use town center called Indigo Commons. The first of the residences are set to deliver next month. Meristem Communities is also currently selling vacant retail pads and offering build-to-suit opportunities for retailers within Indigo Commons. The first building, called The Filling Station, will be situated in Indigo …

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Bell Murrieta Springs in Murrieta, California
CaliforniaInvestment SalesNewsWestern

Bell Partners Acquires Silverado Apartment Homes in Murrieta, California, for $146.5 Million

by Channing Hamilton

MURRIETA, CALIF. — Bell Partners has acquired Silverado Apartment Homes in Murrieta, 65 miles north of San Diego, on behalf of the company’s Value Add Fund VII investors. Realty Center Management sold the asset to Bell Partners for $146.5 million. The new owner plans to rebrand the community as Bell Murrieta Springs. Bell Murrieta Springs was constructed in 2007. The property offers 492 one-, two- and three-bedroom apartments with average unit size of 948 square feet. Amenities include a green belt with a walking trail surrounding the entire property, two …

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Ellison Cool Springs in Franklin, Tennessee
DevelopmentNewsSoutheastTennessee

Flournoy Development Group to Develop 34-Acre Mixed-Use Project in Franklin, Tennessee

by Channing Hamilton

FRANKLIN, TENN. — Flournoy Development Group will develop Ellison Cool Springs, a 34-acre mixed-use community in Franklin, approximately 20 miles south of Nashville. McShane Construction is the general contractor on the development. Dynamik Design is the architect. The project team expects to deliver Ellison Cool Springs in August 2026. Ellison Cool Springs will offer 332 apartments and 15 commercial units across three four-story buildings. Apartments will come in one-, two- and three-bedroom layouts, with select two-story, live-work units. Planned amenities include a pool, clubroom, fitness center, recording studio, hospitality bar, …

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Park Center in Dunwoody, Georgia
DevelopmentGeorgiaNewsSoutheast

KDC Secures Approval for Construction of Two New Towers at Mixed-Use Park Center in Atlanta Suburb

by Channing Hamilton

DUNWOODY, GA. — The Dunwoody City Council has approved the rezoning of Phase IV of Park Center, a 17-acre mixed-use development in the northern Atlanta suburb of Dunwoody. KDC, a Dallas-based developer and investment firm, is the master developer for the project. Locally based Cooper Carry will serve as the architect. The original plan for the project involved the construction of a single 2.2 million-square-foot office tower, which would act as the East Coast hub for State Farm Insurance. The amended zoning will allow KDC to change its plans to …

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Williamsburg Wharf in New York City
DevelopmentNew YorkNewsNortheast

Naftali Group, Access Industries Underway on 850-Unit Williamsburg Wharf in Brooklyn

by Channing Hamilton

NEW YORK CITY — A partnership between locally based developer Naftali Group and holding company Access Industries is underway on the construction of Williamsburg Wharf, an 850-unit project in Brooklyn. The development is situated on 3.8 acres off Kent Avenue, adjacent to the Brooklyn Navy Yard. Williamsburg Wharf will comprise five 22-story buildings that will also include retail and commercial space. The waterfront community will also feature an open lawn, walking and biking paths, a public park and dog run.

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Union at Purple Heart Trail in Wichita, Kansas
Affordable HousingDevelopmentFinanceKansasMidwestNews

Annex Group Underway on $61 Million Affordable Housing Development in Wichita, Kansas

by Channing Hamilton

WICHITA, KAN. — The Annex Group is underway on the construction of Union at Purple Heart Trail, a $61 million affordable housing project in Wichita. Purple Heart Trail will consist of 240 apartments across two four-story buildings. Units will be available to households earning at or below 60 percent of the area median income. Planned amenities include a community center with a fitness center, media center, business center, outdoor gazebo, playground, dog park, walking path and picnic areas. Construction is slated to complete in early 2026. The development team for …

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2-20 and 2-21 Malt Drive in New York City
Affordable HousingDevelopmentNew YorkNewsNortheast

TF Cornerstone Nears Completion on 1.4 Million-Square-Foot Development in Queens

by Channing Hamilton

NEW YORK CITY — New York City-based developer TF Cornerstone is nearing completion on 2-20 and 2-21 Malt Drive, a 1.4 million-square-foot high-rise community in the Long Island City neighborhood of Queens. At full build-out, the project will deliver 1,386 apartments across two buildings, as well as retail space and a public park. 2-20 and 2-21 Malt Drive are situated on Malt Drive, a new city street that was named as a nod to the site’s history as a sugar cane processing facility that later became a beer distribution center. The …

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The Meadows at Berkeley Ridge in Martinsburg, West Virginia
BerkadiaBuild-to-RentInvestment SalesNewsSoutheastWest Virginia

Berkadia Brokers Sale of 148-Unit Build-to-Rent Community in Martinsburg, West Virginia

by Channing Hamilton

MARTINSBURG, W.VA. — Berkadia has arranged the sale of The Meadows at Berkeley Ridge, a 148-unit build-to-rent (BTR) complex located at 368 Pineda Lane in Martinsburg. The buyer was a joint venture between DSP Real Estate Capital and Rockbridge Investment Group. The sales price and seller were not disclosed. Brett Moss, Tyler Swidler, Drew White, Carter Wood and Cole Carns of Berkadia brokered the deal. Additionally, Phil Branigan, Miles Drinkwalter and Natalie Revers of Berkadia originated a 10-year, fixed-rate Fannie Mae acquisition loan on behalf of the buyer. The Meadows …

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Burnside Farms Apartments in Columbia, South Carolina
DevelopmentFinanceNewsSouth CarolinaSoutheast

Walker & Dunlop Arranges $62 Million Construction Financing for Burnside Farms Apartments in Columbia, South Carolina

by Channing Hamilton

COLUMBIA, S.C. — Walker & Dunlop has arranged $62 million in debt and equity financing for the construction of Burnside Farms Apartments in Columbia. Jamie Butler, Cliff Ayers, Michael Bowles and Jason McFadden of Walker & Dunlop arranged the non-recourse financing on behalf of the borrowers, South Coast Property Investments and Abacus Capital. Burnside Farms Apartments will comprise 308 apartments. A portion of the community will be set aside as affordable housing, but the number of units and income restrictions for the affordable units were not disclosed. The property will …

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MetWest Residential in Tampa, Florida
DevelopmentFinanceFloridaNewsSoutheast

ZOM Living, MetLife Investment Management Secure $63 Million in Construction Financing for MetWest Residential in Tampa, Florida

by Channing Hamilton

TAMPA, FLA. — ZOM Living and MetLife Investment Management have secured $63 million in construction financing for MetWest Residential, a 375-unit project located within the Westshore District of Tampa. Looney Ricks Kiss designed the community. MetWest Residential will rise eight stories. The community will offer studio, one-, two- and three-bedroom apartments ranging from 576 to 1,601 square feet. Amenities will include a pool with an outdoor deck, courtyard, fitness center, co-working and conference spaces, a dog park and a lounge on the eighth floor. MetWest Residential will also feature 3,000 …

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