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Oxxford-Lofts-West-Loop-Chicago
Affordable HousingDevelopmentIllinoisMidwestNews

Missner Group, Base 3 Begin Construction on $42M Industrial-to-Residential Project in Chicago

by Lynn Peisner

CHICAGO — The Missner Group and Base 3 have begun construction of Oxxford Lofts, an industrial-to-residential project in Chicago’s West Loop area that is a redevelopment of the former Oxxford Clothes factory, built in 1910, into a 112-unit community. Twenty percent of units at the new Oxxford Lofts will be set aside as affordable housing. Rent restrictions were not disclosed. Plans for the $42 million gut-renovation project include all new building systems and upgraded sustainability features. The development will also include a rooftop deck, fitness center, coworking space and secure …

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Normandy-Cove-Jacksonville
Affordable HousingDevelopmentFloridaNewsSoutheast

Housing Trust Group Breaks Ground on Normandy Cove in Jacksonville, Florida

by Lynn Peisner

JACKSONVILLE, FLA. — Housing Trust Group (HTG) has secured financing and begun construction of Normandy Cove, a 144-unit affordable housing community in the Westside area of Jacksonville. Apartments will be reserved for income-qualifying renters earning up to 30, 60 and 70 percent of area median income, with monthly asking rents ranging from $470 to $1,716. Half of Normandy Cove’s units will be specifically for active-duty military members and veterans, including some units solely for veterans experiencing homelessness. HTG is partnering with local organizations Hope4Veterans and I.M. Sulzebacher Center for the …

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Twelve03-Charlotte
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

The Fallon Co. Secures $100.5M in Construction Financing for Twelve03 at Centre South in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — JLL has arranged $100.5 million in debt and equity for the construction of Twelve03 at Centre South, a 329-unit mixed-income community in Charlotte. Boston-based The Fallon Co. is the developer and borrower. The debt was secured through TD Bank, while RXR Realty Investments was the equity source. JLL’s Taylor Allison, Alexis Kaiser and Ryan Mueller handled the transaction. Led by The Fallon Co. in partnership with Charlotte-based Inlivian, Twelve03 is the first phase of Centre South, a $500 million, 16.7-acre mixed-use development. When complete, the project will …

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Leena-Ocala-2
DevelopmentFinanceFloridaNewsSoutheast

Merrimac Ventures Secures $62.5M to Construct Leena Ocala

by Lynn Peisner

OCALA, FLA. — Merrimac Ventures and Southern Waters Capital have secured $62.5 million in construction financing from ACORE CAPITAL to fund development of Leena Ocala, a 360-unit community in Ocala. Located on a 36-acre site at SW 60th Ave. and SW 52nd St., the project will include 300 garden-style apartments across multiple three-story buildings, along with 60 two-story townhome residences. Amenities include multiple walking trails, neighborhood parks, landscaped open areas, a dog park and pickleball courts. A central clubhouse will feature a fitness center and resort-style pool, along with a …

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Lakeview-at-Westpark-Richmond
FinanceNewsTexas

Marcus & Millichap Arranges $54M Refinancing for Lakeview at Westpark in Metro Houston

by Lynn Peisner

RICHMOND, TEXAS — Marcus & Millichap has arranged a $54 million HUD refinancing for Lakeview at Westpark, a 298-unit property in Richmond, 30 miles southwest of Houston. Brandon Brown of Marcus & Millichap’s Houston office led the transaction, representing Rockstar Capital. The financing was secured through KeyBank at a fixed rate of 5.3 percent with 35 years of amortization. Rockstar, a Houston-based, privately owned multifamily real estate investment and property management company, acquired Lakeview at Westpark in 2022. The asset was developed in 2021.

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Silver-Oaks-Tampa
Affordable HousingDevelopmentFloridaInvestment SalesNewsSoutheast

Fairstead Invests $54.7M to Acquire and Redevelop Silver Oaks Apartments in Tampa, Florida

by Lynn Peisner

TAMPA, FLA. — New York City-based affordable housing developer Fairstead has announced the $54.7 million acquisition and rehabilitation of Silver Oaks Apartments in Tampa. The 200-unit property was built in 1973 and is governed by Section 8 and Low-Income Housing Tax Credit (LIHTC) affordability restrictions, with all units reserved for households earning up to 60 percent of area median income. Construction and redevelopment efforts at Silver Oaks Apartments will begin in the second quarter of this year with completion slated for the third quarter of 2027. Located at 4200 Kenneth …

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AnnikaPlaceII-Traverse-City
Affordable HousingDevelopmentMichiganMidwestNews

Woda Cooper Opens $19.3M Phase II of Annika in Traverse City

by Lynn Peisner

TRAVERSE CITY, MICH. — Woda Cooper Cos. has completed and opened Annika II, a $19.3 million, 58-unit affordable housing community in Traverse City. The 29 one-bedrooms and 24 two-bedrooms are reserved for families earning up to 30 to 80 percent of area median income. Some units are specifically set aside for tenants with developmental disabilities, supported by project partner Goodwill Industries. The first phase of this project opened in 2024 and included 53 one- and two-bedroom units offered with the same rent restrictions as Phase II. The Phase I project …

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TBBG-South-Phoenix-132-Units
ArizonaBuild-to-RentDevelopmentInvestment SalesNewsWestern

TBBG Completes Second Phoenix BTR Acquisition, Breaks Ground On Two Development Projects

by Lynn Peisner

PHOENIX — Phoenix-based real estate investment firm TBBG Investments has completed one acquisition and broken ground on two build-to-rent (BTR) developments in the Phoenix metro area. In partnership with Denver-based Canopy Real Estate Partners, TBBG has acquired CJ Townhomes for approximately $13.4 million. The 36-unit community in Mesa, Arizona, will be rebranded as The Sonoran Townhomes. The development was completed in 2024 and includes three-bedroom townhomes with attached garages and private yards as well as such amenities as a pool and hot tub, a dog park, fitness center, resident lounge …

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Laster-Farms-Knoxville
DevelopmentNewsSoutheastTennessee

Trinitas Breaks Ground on $80M Laster Farms at Turkey Creek in Knoxville, Tennessee

by Lynn Peisner

KNOXVILLE, TENN. — Trinitas Ventures, a Lafayette, Indiana-based development and investment firm, along with partner Indianapolis-based developer Millstone Ventures have broken ground on Laster Farms at Turkey Creek, a 320-unit project in Knoxville. Laster Farms at Turkey Creek will include 240 apartments and 80 townhomes offered in one-, two- and three-bedroom layouts with monthly asking rents ranging from approximately $1,800 to $2,800. Amenities include a clubhouse and fitness center, resort-style pool, golf simulator, outdoor lounge areas and entertainment lawns. First move-ins are expected by summer 2027.

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Pines-at-Peach-Raleigh
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

Oppidan Investment Co. Opens Two Raleigh Affordable Housing Developments Totaling $83M

by Lynn Peisner

RALEIGH, N.C. — Oppidan Investment Co. has opened two affordable housing communities in Raleigh financed by the Low-Income Housing Tax Credit (LIHTC) program: The Pines at Peach and Birch & Branch. Development costs of the two properties totaled $83 million. Located at 3470 Overstory Circle, Birch & Branch is a $49 million development featuring 180 one-, two- and three-bedroom apartments for families earning between 30 and 70 percent of the area median income (AMI). Birch & Branch was designed by Moore Hocutt, engineered by VHB, constructed by Mills Construction and …

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