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Society-Brooklyn

BROOKLYN, N.Y — Property Markets Group (PMG) opened Society Brooklyn in the Gowanus neighborhood on May 15. The two-tower, 21-story, mixed-use, mixed-income property spans 594,000 square feet and features 517 residential units, 25 percent of which are allocated as affordable housing. Society Brooklyn at Degraw’s affordable units are reserved for tenants earning between 40 and 100 percent of area median income (AMI). Units in the second tower, called Society Brooklyn at Sackett, are for tenants earning between 40 and 130 percent of AMI. MNS Real Estate is handling leasing. The exact …

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Bayfront

JERSEY CITY, NJ — Bayfront Development Partners, a joint venture between Pennrose and Paths Development, has broken ground on Bayfront Promenade, the first building in the mixed-use, mixed-income Bayfront redevelopment project in Jersey City. The six-story Bayfront Promenade will feature 210 units, 167 of which are set aside for low- and moderate-income households. These include 74 units designated for families earning up to 60 percent of area median income (AMI) and 93 units for families earning up to 120 percent of AMI. A construction timeline for Promenade was not released, …

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Gov-Ferguson-Bill-Signing

SEATTLE — Washington Gov. Bob Ferguson has signed House Bill 1217, which limits yearly rent increases for existing tenants in Washington state to 7 percent plus inflation or 10 percent, whichever is lower. Landlords can still adjust rent by higher amounts for new tenants. The bill also limits rent increases for manufactured homes to 5 percent per year. HB 1217, as well as several other bills, were signed on May 7 at the Blake House affordable housing high rise in downtown Seattle. The bill automatically became law upon signing. Other …

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Columbus-Renaissance-Housing

COLUMBUS, OHIO — Woda Cooper Cos. and co-developer Community Development for All People have opened Columbus Renaissance Housing, a 46-unit affordable housing property in Columbus. Units are reserved for tenants earning up to 60 percent of area median income, which amounts to an annual salary of $61,980 for a family of four. The development of Columbus Renaissance Housing was funded by a combination of public and private investment from entities including the City of Columbus, Franklin County, the Ohio Housing Finance Agency, the Affordable Housing Trust for Columbus & Franklin …

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Tishman Speyer Nashville

NASHVILLE, TENN. — Tishman Speyer has acquired 2010 West End Avenue for $112 million. The 25-story, 358-unit property was developed by CA Ventures in 2021 in the Midtown area of Nashville, within walking distance to Vanderbilt University. Tishman Speyer’s acquisition was financed in part by a $67.2 million loan from Corebridge. 2010 West End Avenue includes 6,000 square feet of ground-floor retail. Units are offered as studios, one- or two-bedroom floor plans. A rooftop pool, hot tub, a fitness center and dog run are among the amenities. The asset is …

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21 Hollywood

HOLLYWOOD, FLA. — Starlife Group has launched vertical construction on 21 Hollywood, a 13-story mixed-use project located in Hollywood, roughly 20 miles north of Miami, Florida. The complex will feature 200 apartments and 10,000 square feet of ground floor retail space. Amenities will include a business center, coworking spaces, private conference room and a fitness center with a dedicated yoga and Pilates room. Residents will also have access to a children’s play area, dog park and dog spa, dual cinemas and an 85-foot infinity pool that serves as the centerpiece …

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Amberleigh Apartments

FAIRFAX, VA. — Berkadia has arranged $129 million for the refinancing of Amberleigh Apartments, a 752-unit community in Fairfax, roughly 20 miles west of Washington, D.C. Patrick McGlohn, Brian Gould, Miles Drinkwalter and Natalie Hershey of Berkadia arranged the financing on behalf of the locally based borrower, Redbrick LMD. The financing consisted of a $113.8 million Freddie Mac loan and a $15.6 million preferred equity investment from an undisclosed source. Amberleigh Apartments features one-, two- and three-bedroom floor plans ranging from 861 square feet to 1,523 square feet, according to …

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The Switchyard

QUEEN CREEK, ARIZ. — Creation, in partnership with Horizon Real Estate Ltd., has broken ground on The Switchyard, a $120 million mixed-use project in Queen Creek, about 40 miles southeast of Phoenix. The 10-acre project will feature 54,000 square feet of restaurant, retail and office space, as well as a 215-unit apartment community. The development will feature a Postino restaurant and wine café. The restaurant mix will also include Snooze, an A.M. Eatery, a breakfast and brunch restaurant founded in Denver, and a location of modern burger chain Shake Shack. …

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Parks at Delray

DELRAY BEACH, FLA. — ANF has delivered Phase I of Parks at Delray, a 43-acre mixed-use development located at 2100 S. Congress Ave. in Delray Beach, about 5.5 miles south of Fort Lauderdale, Florida. The first phase of Parks at Delray consists of 420 one-, two- and three-bedroom apartments ranging in size from 580 to 1,400 square feet, as well as three-bedroom townhomes ranging in size from 1,670 to 1,770 square feet. At full build-out, Parks at Delray will offer 747 apartments, approximately 10 percent of which will be designated as …

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The A.J.

SACRAMENTO, CALIF. — A partnership between USA Properties Fund and LDK Ventures has delivered The A.J., a $130 million mixed-income project within The Railyards in Sacramento. Located at 251 6th St., The A.J. features 345 apartments, including 69 affordable homes for residents earning 50 percent or less of the area median income. Additionally, The A.J. offers more than 5,000 square feet of ground-level retail space. Residents have access to amenities including a fitness center; pool and spa with cabanas; bike storage area with repair station; pet spa and wash area; …

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