http://www.multifamilybiz.com Latest News from MultifamilyBiz.com en-us © 2026 MultifamilyBiz.com 1 /news http://www.multifamilybiz.com/images/multifamilylogosmall.png 144 33 Multifamily News Headlines - MultifamilyBiz.com RSS Feed HOBOKEN, NJ - Rockpoint, a Boston-based real estate private equity firm, and Urby, a hospitality-driven multifamily developer, announced the formation of a joint venture to acquire land and develop a multifamily residential tower on the Jersey City Waterfront. Urby will co-manage construction and development, and also oversee property management and leasing alongside Rockhill, Rockpoint's property services affiliate. The 69-story building, which will be called 201 Hudson – by Urby, will comprise 748 market-rate studio-, one-, two-, and three-bedroom apartments. The project will also include approximately 10,000 square feet of retail space and 102 surface parking spaces. 201 Hudson – by Urby is the second phase of a three-tower multifamily development master plan. The building is located in the highly desirable Jersey City Waterfront submarket, offering a lively neighborhood atmosphere and exceptional connectivity within the Tri-State area. The Grove Street and Exchange Place PATH stations and the Harborside Ferry terminal are a short walk away, putting Manhattan at a 10-minute commute from the front door. Residents will also have convenient access to the Harborside Light Rail, which stops right outside the building, as well as I-78 and the Holland Tunnel. "The Jersey City Waterfront continues to distinguish itself as one of the most compelling multifamily submarkets in the New York metro area, driven by strong demographic tailwinds, significant public and private investment, and exceptional transportation access to Manhattan," said Dan Domb, a Managing Member and COO at Rockpoint. "We are excited to partner with David Barry and his team who we believe are some of the most talented and creative developers in the business." Residents will have access to a robust suite of lifestyle-oriented amenities, including a resort-style pool with views of the Manhattan skyline, parlor and garden rooms, a state-of-the-art fitness center, dog run, children's play area, roof deck, and Class A finishes throughout. Many of the units will have stunning views of the Manhattan skyline and the Hudson River. "201 Hudson – by Urby continues our vision of creating engaging, design-driven residential communities on the Jersey City Waterfront," said David Barry, Founder and CEO of Urby. "We are pleased to have Rockpoint join the project as we deliver the next chapter of this three-tower development and continue to contribute to the ongoing growth of Jersey City." Rockpoint has a longstanding history of investing in the residential sector and has closed on or committed to 146 residential investments since 1995, inclusive of investments made at its predecessor, comprising approximately 100,000 multifamily units. In addition to 201 Hudson – by Urby, the firm's Jersey City investments also include The Morgan Provost Square, a Class A Jersey City Waterfront community; The Declan, a ground-up luxury development in the Port Imperial submarket; and Embankment House, a stabilized Class A community in the Hamilton Park neighborhood of Jersey City. Newmark's Co-Head of U.S. Capital Markets Adam Spies, Executive Vice Chairman Adam Doneger and Managing Director Michael Collins advised both Urby and Rockpoint on the transaction. The project team includes New York-based architects HLW; Concrete Amsterdam, the Dutch studio behind citizenM and other globally recognized hospitality concepts; interior designer Shawn Hausman, known for award-winning hospitality and lifestyle developments; and landscape architect Bas Smets, whose practice is responsible for the reimagined grounds of Notre-Dame Cathedral in Paris as well as LUMA Arles and the Mandrake Hotel in London. https://www.multifamilybiz.com/news/11425/rockpoint_and_urby_form_joint_venture_to_develop_7... Thu, 16 Jul 2026 09:44:00 GMT fb562416-1fe4-4280-ab5d-8dfdf9beda9c CHICAGO, IL - RPM Living, a full-service multifamily property management, investment and development company, announced the official opening of Cerca Glenview, a newly constructed 62-unit luxury multifamily community near downtown Chicago at 1850 Glenview Road. The apartment complex, developed by The Drake Group, celebrated its official ribbon cutting June 17 and welcomed its first residents on June 19, 2026. This is a project that s years in the making, and welcoming our first residents is a proud moment for our team, said Tom Drake, Principal, The Drake Group. We have deep roots in this community, and that personal connection shaped every decision we made throughout the process as we strived to build something the neighborhood could be proud of. Cerca Glenview offers a range of floor plans including junior one-bedroom, one-bedroom, two-bedroom and three-bedroom residents, with monthly rents ranging from $2,745 to $7,300. Atop the building sits the Cerca Reserve Collection, a curated offering of penthouse residences on the fifth floor with access to an exclusive top-floor amenity level. The community is already 35% occupied and 45% leased. Situated in the heart of downtown Glenview, Cerca Glenview offers residents convenient access to the village s array of dining and retail offerings, as well as prime transit corridors. The property serves as a residential anchor to the area as the surrounding community continues to attract development and investment along the North Shore. Cerca Glenview is a standout addition to Chicago s North Shore market, said Will Shew, Regional Vice President for RPM Living. We ve already seen tremendous demand since preleasing began mid-April 2026, which speaks to the property s value and the appetite for luxury living in Glenview. As the management company, we look forward to fostering an exceptional community for current and future residents. Construction on the project broke ground in October 2025, with Weis serving as the general contractor and Cullen Construction Management as owner s representative. Wintrust provided financing for the project. https://www.multifamilybiz.com/news/11424/the_drake_group_brings_luxury_multifamily_living_t... Wed, 15 Jul 2026 09:41:00 GMT 326fefb5-a5b0-4fd4-b401-1bd4c41da7ef PHOENIX, AZ - Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera City North, a contemporary community in the emerging Desert Ridge neighborhood of North Phoenix. The wrap-style community, which will feature 330 homes, will serve as a key component of the City North master plan, a 100-acre, two million square-foot mixed-use development comprised of retail, office, hotel and residential space. First move-ins are anticipated for summer 2028. "Modera City North is a unique, well-positioned community that will capture the best of both metropolitan and tranquil living," said Brandon Finnie, vice president of development in Arizona for Mill Creek. "With its spacious floor plans, refined suite of amenities and proximity to the area's key employment centers, we believe the community will quickly ascend to a best-in-class option in a neighborhood brimming with increased demand." Situated at 20711 N 54th Street on the border of Desert Ridge and North Scottsdale, Modera City North is located just north of Loop 101, a key thoroughfare that connects to many major employers, including Republic Services, Sprouts, ASM, Banner Health, Nationwide and Axon. In addition to the forthcoming attractions within City North, the community sits adjacent to Desert Ridge Marketplace, a 1.2 million square-foot retail center and High Street, a 628,000 square-foot mixed-use lifestyle mall, both of which are home to an array of retail, dining and entertainment options. The community is also less than two miles from Mayo Clinic Hospital and a regional office for American Express, which employs more than 13,000 associates. Modera City North will offer one-, two- and three-bedroom homes with various layouts up to 1,450 square feet. Community amenities will include a resort-style swimming pool, hot tub and spa, outdoor dining, landscaped courtyards, resident clubhouse, game room, pool table, pet park, pet spa and a club-quality fitness studio with cardio equipment and yoga/Pilates studio. Residents will also have access to a conference room, coworking space, garage parking with private EV-charging stations, digital package lockers, bike storage and additional storage space. The community will be built to, and is pursuing, an NGBS Silver Certification. Homes will include oversized windows, nine- and 10-foot ceilings, wood-style plank flooring, stainless steel appliances, quartz countertops, pull-down faucets, tile backsplashes, soft-close cabinets with under-cabinet lighting, separate dining areas, movable kitchen islands, oversized bedrooms with spacious closets, in-home washers and dryers, controlled-access guest technology and private patios or balconies. Designer bathrooms will include double vanities, quartz countertops and tile shower surrounds. https://www.multifamilybiz.com/news/11423/mill_creek_announces_groundbreaking_of_330unit_mod... Tue, 14 Jul 2026 08:21:00 GMT 17a16d0d-0d5b-42cb-a34e-7f5ed2bc8724 IRVINE, CA - WNC & Associates, a family-owned business known as both a pioneer and leader in the affordable housing industry, announced the recent closing of WNC Institutional Tax Credit Fund 59, L.P. (Fund 59), a $210 million national Low-Income Housing Tax Credit (LIHTC) fund that will support the creation and preservation of affordable housing across 18 communities in 13 states. The successful close reflects WNC's continued ability to connect private capital with housing solutions that help address growing demand for affordable housing nationwide. "For more than 55 years, WNC has brought together private capital and trusted partnerships to expand and preserve affordable housing nationwide," said Will Cooper Jr., president and CEO of WNC. "During a housing crisis marked by a shortage of 7.2 million affordable and available rental homes, Fund 59 shows how private capital can be mobilized to help close the gap. New federal housing policy will bolster this work and expand opportunities to invest in affordable housing." Fund 59 is investing in 2,015 affordable housing units in 18 communities across Alaska, California, Florida, Indiana, Kentucky, Massachusetts, Maine, Minnesota, Missouri, Nebraska, New Hampshire, Nevada, and Texas. The portfolio includes seven new-construction communities and 11 preservation communities, with two rehabilitations of historic properties. Five of the properties serve seniors, while 13 provide affordable housing for families. Together, these investments will help expand housing opportunities while preserving existing affordable housing in communities across the country. "We are grateful for the continued confidence our investor partners place in WNC and our mission," said Christine Cormier, executive vice president of investor relations at WNC. "Fund 59 reflects the trust we've built over more than five decades and the continued demand for investments that deliver meaningful community impact alongside long-term value. Together with our investors, we're helping connect private capital with affordable housing solutions in communities across the country." In addition to LIHTC, Fund 59 includes investments utilizing Energy Tax Credits and Historic Tax Credits, further supporting the preservation and development of high-quality affordable housing. https://www.multifamilybiz.com/news/11422/wnc__associates_closes_210_million_fund_to_support... Mon, 13 Jul 2026 09:57:00 GMT 3a5a92cc-ecaf-4700-93ec-4004c8f732c4 BEVERLY HILLS, CA - Kennedy Wilson, a global real estate investment company, has partnered with Kenedix, Inc. and Hulic Co., Ltd. to acquire Carraway, a 421-unit multifamily community in West Harrison, New York, for $237 million. The acquisition further expands Kennedy Wilson s investment management platform and deepens its relationship with long-standing Japanese partners Kenedix and Hulic. Completed in 2021, the Class A property is located in Westchester County, approximately 25 miles north of Manhattan, and features a mix of studio, one-bedroom and two-bedroom residences, structured parking and approximately 6,400 square feet of ground-floor retail space. Carraway features a highly amenitized living experience, including a resort-style pool, fitness center, coworking space and on-site retail, helping drive strong resident demand and retention. Carraway represents a rare opportunity to acquire a high-quality, recently constructed multifamily community in one of the most desirable suburban markets in the New York metropolitan area. The acquisition extends Kennedy Wilson s investment platform across the East Coast and expands our investment management platform alongside our valued partners Kenedix and Hulic, said William McMorrow, Chairman and CEO of Kennedy Wilson. We are pleased to have our fourth JV investment with Kennedy Wilson and Kenedix. We are currently increasing international investment with trusted partners in areas where continued population and economic growth are expected. We believe this investment satisfies our criteria, said Sohei Okuno, Managing Officer, General Manager of Global Investment Department at Hulic Co., Ltd. We are pleased to expand our partnership with Kennedy Wilson and Hulic through the acquisition of Carraway, a high-quality multifamily asset in the New York metropolitan area. This investment reflects our continued focus on institutional-grade residential properties in supply-constrained, high-demand markets where we see strong long-term fundamentals supported by durable population trends and proximity to key employment centers, said Hikaru Teramoto, Representative Director, President & COO at Kenedix, Inc. Situated within Westchester County, one of the most affluent counties in the United States, Carraway benefits from average household incomes exceeding $175,000 and proximity to White Plains, a major employment center, as well as companies including IBM, PepsiCo, Mastercard, Morgan Stanley and Regeneron. The property has experienced strong leasing momentum, with rents increasing more than 5% over the last year, while maintaining an attractive affordability profile relative to New York City housing alternatives. https://www.multifamilybiz.com/news/11421/kennedy_wilson_completes_237_million_acquisition_o... Fri, 10 Jul 2026 09:31:00 GMT 63887252-db5d-4fd2-a2ea-dd2c75074cf5 BETHESDA, MD - Walker & Dunlop announced that it has arranged $232,352,000 in financing for a portfolio of five multifamily properties totaling 1,585 units across Arkansas and Florida. The portfolio consists primarily of workforce housing and includes one income-restricted affordable housing community. Walker & Dunlop Capital Markets Real Estate Finance arranged the financing on behalf of long-time client, Aspen Square Management. Connor Locke, Harvey Pava, Brendan Coleman, and Skye Stansbury secured a single 10-year, fixed-rate, interest-only loan through a new Tier 3 Fannie Mae credit facility. The credit facility is collateralized by five quality workforce housing communities. "This transaction reflects the strength of our longstanding relationship with Aspen Square and Fannie Mae," said Connor Locke, managing director of Capital Markets Real Estate Finance at Walker & Dunlop. "By combining high-quality workforce housing with a customized credit facility, we delivered an accretive financing solution that supports Aspen Square's long-term investment strategy while helping preserve housing affordability across multiple markets." The transaction marks Aspen Square's 16th Fannie Mae credit facility and its eighth completed with Walker & Dunlop, highlighting the enduring partnership among the borrower, lender, and financing team. https://www.multifamilybiz.com/news/11420/walker__dunlop_arranges_232_million_in_fannie_mae_... Thu, 09 Jul 2026 09:26:00 GMT e101ca97-63a7-4ecc-b84b-cb6e3978dfba PALM BEACH GARDENS, FL - Rockpoint, a Boston-based real estate private equity firm, and The Kolter Group, a Florida-based diversified real estate development and investment firm, announced that their affiliates have entered into a joint venture to develop The Sutton, a 432-unit multifamily apartment community in Palm Beach Gardens, Florida. The transaction includes the acquisition of the land and development of the site and PNC Bank provided the financing for the project. The Sutton, which is scheduled to be completed in 2028, will comprise 432 studio, one-, two-, and three-bedroom apartments and surface parking. The site is centrally situated in Palm Beach Gardens with convenient access to I-95 and the Florida Turnpike, enabling regional connectivity to Palm Beach County's key employment and retail centers. Residents will benefit from proximity to nearby premier retail, dining, shopping and entertainment options, as well as convenient access to the coast and public beaches as well as public parks, premier golf courses, and recreation areas where residents can enjoy the outdoors. "Rockpoint has been active in South Florida multifamily investing for more than a decade, and our selective development strategy allows us to focus on submarkets like Palm Beach Gardens that are highly supply constrained and have demand for newer vintage apartment living," said Dan Domb, a Managing Member and COO at Rockpoint. "We're excited to enter this partnership with the Kolter team to develop this unique property." "Rockpoint's team is experienced and well-regarded, and their values and platform align well with Kolter's," said Howard Erbstein, COO of The Kolter Group. "It's a great foundation to capitalize on further investments together across our various businesses." The property will feature best-in-class amenities, including a resort-style pool, state-of-the-art fitness and wellness spaces including a group fitness room, co-working rooms, resident lounge, dog park, children's playground, and a maker's studio. Unit interiors will feature high-quality finishes including stainless steel appliances, quartz countertops, and luxury vinyl tile flooring. Rockpoint, along with its predecessor firm, has a longstanding history of investing in the residential sector and has closed on or committed to 146 residential investments since 1995, comprising approximately 100,000 multifamily units. The firm continues to strategically target opportunities in high-barrier-to-entry markets with strong demand drivers and where it can create value through active asset management and repositioning strategies. https://www.multifamilybiz.com/news/11419/rockpoint_and_the_kolter_group_announce_joint_vent... Wed, 08 Jul 2026 08:27:00 GMT 5b7ee6f2-e7fb-4cac-82c5-503eccd43eec BEVERLY HILLS, CA - Kennedy Wilson, a global real estate investment company, and Jamison, a leading Los Angeles multifamily development firm with experience in high- and low-rise construction and adaptive reuse conversions, have entered a new strategic partnership with plans to deliver 4,000 affordable housing units across Los Angeles through adaptive reuse and ground up construction. The partnership is between Jamison's newly launched affordable housing division, Arden Residential, and Kennedy Wilson s affordable housing development joint venture, Vintage Housing. It will begin with the conversion of the former LA World Trade Center at 350 S. Figueroa Street, which will be re-branded as Sky Castle. The 400,000-square-foot office complex will be converted into 512 affordable units offering a mix of one-, two- and three-bedroom floor plans. Each unit will feature new kitchens and bathrooms with appliances and an operable window as well as modern community amenities including community rooms available for resident events, a dedicated co-working space, a resident lounge, on-site storage, laundry rooms throughout the property, and mail parcel rooms. Phase I, which is expected to begin in August 2026, will focus on the building s concourse levels to deliver 241 affordable housing units for families earning 30% to 80% of Area Median Income (AMI). Phase II, planned for the office tower above, will add 271 affordable units. The World Trade Center residential conversion is endorsed by Los Angeles government leaders and approved by the city under the new adaptive reuse ordinance. The new joint venture leverages Kennedy Wilson s deep expertise in affordable housing development. In 2015, Kennedy Wilson acquired an equity stake in Vintage Housing, an industry leader in delivering affordable, long-term housing solutions for qualified working families and active senior citizens, and has since helped grow the platform from 5,000 to over 13,000 units across the Western United States. This strategic partnership between Jamison and our Vintage Housing platform is all about providing much-needed affordable housing in our backyard, the City of Los Angeles, said Nicholas Bridges, Global Head of Capital Markets at Kennedy Wilson. Built on a relationship spanning decades, our strategic venture brings together Jamison s extensive real estate portfolio and multifamily expertise with Kennedy Wilson s affordable housing development capabilities to accelerate delivery of approximately 4,000 affordable housing rental units across the city. Together, Kennedy Wilson and Jamison are committed to delivering housing solutions that address the city s affordability challenges while creating a lasting, positive impact for Los Angeles communities. "Kennedy Wilson s Vintage Housing platform is the ideal partner given our shared long-term vision, institutional strength, and operational excellence, while Jamison will bring its deep local market knowledge and hands-on development expertise, said Garrett Lee, Chief Executive Officer, Jamison. Together, we will develop thoughtfully designed housing for families, seniors, and communities through both adaptive reuse conversions and ground-up construction in transit-oriented, job-rich neighborhoods that provide residents with access to the opportunities and services that make Los Angeles thrive." The partnership between Kennedy Wilson and Jamison reflects both entities commitment to the city and their shared vision of expanding affordable, high-quality housing for residents. At a time when affordable housing remains one of Los Angeles most pressing challenges, this joint venture represents an actionable step toward delivering accessible housing opportunities for individuals and families across a range of income levels. The joint venture is committed to advancing innovative housing solutions, revitalizing underutilized properties, and contributing to the development of vibrant communities that support the city s long-term growth and economic vitality. https://www.multifamilybiz.com/news/11418/kennedy_wilson_and_jamison_announce_joint_venture_... Tue, 07 Jul 2026 10:02:00 GMT c1374273-3aaa-46c0-8576-4cd1f22f5995 CHATTANOOGA, TN - LifeCare Development announced plans for The Blake at Chattanooga, a new high-end assisted living and memory care community to be located at 7333 McCutcheon Road in Chattanooga, Tennessee. The Blake at Chattanooga will include 118 apartments, with 73 assisted living apartments and 45 memory care apartments. Sitework and construction are expected to begin in late summer 2026. The project marks LifeCare Development's entry into Tennessee and its fifth Blake-branded senior living project with Blake Management Group. LifeCare previously developed four Blake communities in Texas in partnership with BMG, continuing a relationship built around high-quality development, experienced operations and a shared commitment to serving older adults and their families. "Chattanooga represents a strong market opportunity for LifeCare Development," said Adam Mitchell, Managing Partner of LifeCare Development. "It offers a compelling combination of growth and demand for modern senior living options. We are excited to bring Blake Management Group's hospitality-driven approach to Chattanooga." Near The Village at Waterside, The Blake at Chattanooga will be located in a growing area of the Gunbarrel Road corridor with access to retail, healthcare and daily conveniences. The community is being designed to offer a high-end residential environment for seniors seeking assisted living and memory care services. "Blake Management Group is proud to partner with LifeCare Development to bring exceptional assisted living and memory care services to Chattanooga, Tennessee," said Scott Hames, Chief Operating Officer of Blake Management Group. "This collaboration combines decades of senior living expertise with a shared commitment to providing compassionate, resident-centered care in a welcoming and supportive environment. Together, Blake Management Group and LifeCare are dedicated to enhancing the quality of life for older adults by offering personalized care plans, engaging lifestyle programs, and specialized memory care services designed to promote dignity, independence and peace of mind for residents and their families. This partnership represents a significant investment in the Chattanooga community and a commitment to setting a new standard for senior living excellence." The Blake at Chattanooga project team includes Arrive Architecture, Ridgemont Commercial Construction and Banko Design. Trustmark is providing financing for the project. The Chattanooga announcement follows LifeCare Development's continued growth in the senior living sector and reflects the company's focus on identifying markets well-positioned for high-quality assisted living and memory care development. https://www.multifamilybiz.com/news/11417/lifecare_development_announces_the_blake_at_chatta... Mon, 06 Jul 2026 10:11:00 GMT 15145f33-b160-4682-bdbd-953056d9e285 VILLA PARK, IL - Garden Station, a transformative 348-unit mixed-use luxury residential community located within the Transit-Oriented Development (TOD) district of Villa Park, Illinois, has cleared another major milestone and is now positioned to move forward at full speed toward construction. The project recently received re-approval from both the Village of Villa Park Planning and Zoning Commission and the Zoning Board of Appeals and is awaiting approval from the Village Board of Trustees in the coming weeks. Once completed, Garden Station is expected to become the largest net-zero mixed-use residential development in the United States, setting a new benchmark for sustainable housing while addressing the growing need for attainable, high-quality residential options in DuPage County. Designed to meet rigorous sustainability standards, Garden Station incorporates numerous Passive House principles and advanced energy-efficient technologies that significantly reduce utility costs for residents while minimizing environmental impact. The development will offer an unparalleled combination of comfort, convenience, and affordability. "Garden Station represents the future of multifamily living," said Dr. Ganesan Visvabharathy, Founder and CEO of Hawthorne World. "Our vision is to create a community that combines environmental responsibility, exceptional resident experiences, and attainable living opportunities. This project demonstrates that sustainable development and affordability can go hand in hand." The project had previously experienced delays resulting from a senior lender default and a subsequent foreclosure action initiated by a bridge lender. However, following the dismissal of the foreclosure lawsuit and the successful placement of a substitute lender, the project is once again moving forward with strong momentum. Garden Station is expected to play a significant role in addressing the DuPage County, Illinois housing shortage while supporting Villa Park's long-term economic development and sustainability goals. Its strategic location within the village's TOD district will provide residents with convenient access to public transportation, employment centers, shopping, dining, and recreational opportunities throughout the greater Chicago metropolitan area. As development advances, Garden Station is poised to become a national model for sustainable mixed-use housing and a cornerstone of Villa Park's continued growth and revitalization. https://www.multifamilybiz.com/news/11416/garden_station_348unit_apartment_community_positio... Fri, 03 Jul 2026 09:48:00 GMT 1cc42a07-cc4e-4c72-bd6a-4f5a5e0310ae SAN DIEGO, CA - Broadshore Capital Partners announced the closing of a $53.2 million floating-rate senior bridge loan secured by Monroe North Park, a newly delivered 137-unit Class A multifamily community located in the North Park neighborhood of San Diego, California. The loan was completed in partnership with an institutional investor with whom Broadshore maintains an active lending relationship focused on sourcing and executing bridge financing opportunities across the United States. The financing will facilitate the lease-up and stabilization of the Property, which was delivered in 2025 and features institutional-quality construction, structured parking with EV charging capabilities, rooftop entertainment and co-working amenities, and a curated resident experience designed to appeal to affluent urban renters. San Diego is one of the most fundamentally sound multifamily markets in the country, and North Park represents exactly the kind of supply-constrained, high-demand urban submarket we want to be in, said Bradford Howe, Chief Executive Officer of Broadshore Capital Partners. This transaction is consistent with our strategy of deploying institutional capital into well-located, newly delivered assets where we have conviction in the collateral quality and the long-term fundamentals. Broadshore has made many successful investments in the San Diego area over its history and believes Monroe North Park will be another success for our firm and our partner. Chris Miller, Senior Vice President at Broadshore Capital Partners, added, Monroe North Park presented a compelling combination of basis protection, institutional-quality collateral, and a clear path to stabilization. The sponsorship group s track record in similar transitional multifamily strategies, paired with the Property s differentiated location and amenity package, gave us strong confidence in the underwriting. Monroe North Park is an eight-story, podium-style community comprising approximately 87,000 net rentable square feet and featuring 137 units. The Property is located at 3090 Polk Avenue in the heart of North Park, offering residents walkable access to premier dining, retail, breweries, and cultural amenities, with direct connectivity to Downtown San Diego, Mission Valley, Balboa Park, and major employment centers throughout the broader metropolitan area. https://www.multifamilybiz.com/news/11415/broadshore_capital_partners_closes_532_million_sen... Thu, 02 Jul 2026 10:37:00 GMT 63988991-90bc-4c42-9623-2d0da0a7d136 FAYETTEVILLE, NC - WNC & Associates (WNC), a family-owned business known as both a pioneer and leader in the affordable housing industry joined Resource Housing Group, Inc. and East Carolina Community Development, Inc. to celebrate the grand opening of Cliffmore Park, a new 72-unit affordable housing community for adults ages 55 and older located at 5133 Identity Lane in Fayetteville, NC. Supported through the Low-Income Housing Tax Credit (LIHTC) program and serving households earning 40%, 50%, and 60% of Area Median Income (AMI), Cliffmore Park expands access to high-quality affordable senior housing. Cliffmore Park is WNC's second affordable housing investment in Fayetteville, and the company invested approximately $6.5 million in equity to support the development. "Cliffmore Park reflects the power of thoughtful partnerships to create housing that allows seniors to age with dignity, independence, and stability," said Ryan Thayer, assistant vice president of originations at WNC. "We are grateful to Resource Housing Group, East Carolina Community Development, and our financing partners for helping bring this community to life. Together, we have created quality affordable housing with the amenities, services, and accessibility features that support healthy and connected lives." The new construction community consists of a three-story, elevator-served building featuring 36 one-bedroom and 36 two-bedroom units. Each apartment includes ceiling fans, washer and dryer hookups, central air conditioning, a dishwasher, a self-cleaning oven, a range hood, and emergency call buttons. Private storage is available, and the development was constructed to meet ENERGY STAR Multifamily New Construction Program certification standards. Shared spaces include on-site management offices, multiple lounges and seating areas on each floor, a multipurpose room with a kitchenette, a computer center, an exercise room, and laundry facilities. Outdoor amenities include a covered porch, gazebo, patio with picnic tables, and additional seating areas. The community offers convenient access to transportation, shopping, healthcare, a senior center, and recreation, and a Fayetteville Area System of Transit (FAST) bus stop is steps from the property. In addition to serving seniors, 10% of the community's units are designated through North Carolina's Key Rental Assistance Program (KEY), which provides housing opportunities for individuals experiencing homelessness and people with disabilities. Financing for the development included a construction loan from ServisFirst Bank, a permanent loan from Centrant Community Capital, a Rental Production Program loan from the North Carolina Housing Finance Agency, and a loan from the City of Fayetteville. https://www.multifamilybiz.com/news/11414/wnc_celebrates_grand_opening_of_cliffmore_park_aff... Wed, 01 Jul 2026 09:00:00 GMT 9340db6f-ae06-49c7-9817-36486b831ab4 BRAINTREE, MA - John M. Corcoran & Co. launched leasing last week at Dexter Street Commons, a new construction 150-home apartment community with ground floor retail in the Conant Thread District of Pawtucket, Rhode Island. Built by New England Construction, the 5-story property will be managed by John M. Corcoran & Co. and expects to start move-ins late August. Dexter Street Commons features spacious studio, one-bedroom, and two-bedroom units accessed via two lobby elevators. With varied layouts designed for remote work, the homes all include stainless Energy Star-rated kitchen appliances, energy saving LED lighting, and independent heating and cooling systems. Thirty of the apartments are designated as workforce housing for qualified individuals or families. Dexter Street Commons was designed around how people want to live today, whether they re commuting to Providence or Boston, working remotely, enjoying neighborhood dining and shopping, or simply seeking a home that supports their well-being, said Kelli Ahearn-Lucas, Assistant Marketing Director at John M. Corcoran & Company. From the co-working spaces and lounges to the commuter-friendly location and wellness-focused design, this community offers residents a place to truly live, work, and thrive. The pet-friendly building has been built with high-demand amenities that include high-speed IoT internet, private networking, co-working spaces, indoor lounge, sprawling roof deck, touchless access, a package room, bike storage, personal storage and EV charging. Additionally, the ground floor will feature large retail spaces to support the bustling downtown Pawtucket area. Located one block from the new Pawtucket/Central Falls commuter rail and bus hub, this transit-oriented mixed-use property is a pioneering "Live Well, Be Well" community in the Conant Thread District. With easy access to Pawtucket, Boston, Providence, and TF Green Airport, it offers a live, work, stay, play, and belong lifestyle. The design prioritizes environmental sustainability and resident well-being. https://www.multifamilybiz.com/news/11413/john_m_corcoran__co_announces_start_of_leasing_at_... Tue, 30 Jun 2026 10:12:00 GMT 9df42545-b51d-4f75-8e73-7d7da78960f4 SOMERSET, NJ - Affiliates of Harbor Group International (HGI), a leading global real estate investment and management firm, announced the sale of Grove at Somerset, a 384-unit multifamily community in Somerset, New Jersey. CBRE facilitated the off-market transaction. Built in 2013, the community is located in one of Central New Jersey's most desirable suburban multifamily markets, offering convenient access to major employment centers and transportation corridors, including Interstate 287 and Route 27. During its ownership, HGI executed a targeted value-add strategy, focused on elevating the resident experience and driving revenue growth. Capital improvements included renovations to unit interiors and select community upgrades to position the property to capitalize on the area's strong renter demand and healthy multifamily fundamentals. "This sale reflects the successful execution of our business plan for Grove at Somerset and the resilience of Central New Jersey's multifamily market," said Lane Shea, Managing Director at HGI. "Over the past several years, multifamily transaction markets have faced considerable headwinds, making disciplined asset management and timing increasingly important. Through active management and strategic investments in the community, we've strengthened the property's competitive position and ultimately delivered a successful outcome on behalf of our investors." Leveraging its integrated national platform, HGI continues to be one of the most active participants in the U.S. apartment market. The firm ranked as the No. 1 multifamily buyer in 2025 according to MSCI and was named the No. 15 apartment owner in the nation on the National Multifamily Housing Council's Top 50 Owners list. https://www.multifamilybiz.com/news/11412/harbor_group_international_completes_sale_of_384un... Mon, 29 Jun 2026 09:49:00 GMT f3079ce9-6d1e-45ce-a41b-ab66b8287810 MURRIETA, CA - Quarterra, an industry-leading multifamily development and investment management firm, announced the groundbreaking of its latest apartment community, Aldea, in Murrieta, California. Eldridge Acre Partners (EAP), a privately held real assets investment management firm, provided preferred equity to the development. Alongside the project's lead lender, ING Capital LLC, Quarterra and EAP are proud to offer a high-quality residential destination in one of Southern California's premier markets. Known as the "Gem of the Valley," Murrieta offers a serene suburban lifestyle with easy access to both Orange County and San Diego. Located in Southwest Riverside County, Murrieta is home to 1,350 acres of parks and trails, and adjacent to Temecula with nearly 50 wineries. Aldea's enviable location provides ideal access to all that both cities have to offer, with the community positioned just minutes from Downtown Murrieta and the historic charm of Old Town Temecula. "Murrieta is a strong residential market due to its top-rated schools, local retail and outdoor amenities," said Dan Ferguson, Quarterra's managing director of development for Southern California. "We're excited to be underway with Aldea — our first venture into Murrieta — and look forward to delivering an exceptional living experience to this rapidly growing community. Aldea is designed to reflect the active, vibrant spirit of the city and surrounding environs, and we're eagerly awaiting the day when we welcome our first residents." Located at 25480 Jefferson Ave., the Aldea site is situated near the interchange of I-15 and I-215, less than an hour from both San Diego and Orange County. Aldea residents will find themselves at the hub of possibility, just five minutes from Murrieta's downtown district and farmers market, hot springs and the Rancho California Golf Club; 10 minutes from Old Town Temecula; and, 15 minutes from Temecula Wine Country. Promenade Temecula Mall and the Pechanga Casino are less than 15 minutes away, as well. The site is also a quick commute to major employers, including Abbott, Kaiser Permanente, Rady Children's Hospital and Universal Health Services. Aldea will be comprised of 387 apartment homes in a garden-style layout. Floor plans include one-, two- and three-bedroom designs, ranging from 700-1,385 square feet. Homes come equipped with a smart technology package, as well as stainless steel appliances, quartz countertops, luxury vinyl plank flooring, walk-in closets and kitchen islands in most layouts. Aldea is Quarterra's first Murrieta community and 13th in Southern California. https://www.multifamilybiz.com/news/11411/quarterra_celebrates_groundbreaking_of_387unit_ald... Fri, 26 Jun 2026 09:46:00 GMT d2c3e70a-c984-47fc-8048-05af4d512b95 HOUSTON, TX - The NHP Foundation (NHPF), a leading national mission-based affordable housing developer, announced the successful financial closing of Trinity East Village Senior, a new 90-unit affordable housing community for seniors age 55 and older in Houston's historic Third Ward. Developed in partnership with Trinity East Village Community Development Corporation (TEVCDC) and Housing Alliance HTX, Trinity East Village Senior represents a major investment in preserving affordability and preventing displacement in one of Houston's most historic and rapidly changing neighborhoods. This new construction will provide high-quality, affordable housing that enables seniors with limited incomes to age in place and remain connected to the Third Ward community as housing costs rise throughout the area. Importantly, 60 of the 90 apartments will serve as replacement housing for residents of the Housing Alliance HTX 's Cuney Homes community, which is currently undergoing redevelopment through the federal Choice Neighborhoods Initiative. "Housing Alliance HTX recognizes the importance of this housing to keep communities intact during periods of neighborhood evolvement," said Jamie Bryant, President & CEO, Housing Alliance HTX, "The Alliance is pleased to play such a critical role in bringing this development to fruition through a substantial financial agreement including the provision of 81 Project-Based Vouchers." Additional financing includes a seller note from Trinity East United Methodist Church, funding from the City of Houston, and investment from Rice University's Real Estate Group. "This closing marks an important milestone in our efforts to create high-quality affordable housing opportunities for Houston seniors, essential to preserving the diversity, history, and social fabric of neighborhoods experiencing significant growth and redevelopment while supporting the long-term revitalization of the Third Ward," said Eric Price, President & CEO, NHPF, "We want to thank both the Trinity East team and NHP Foundation staff for their perseverance and skill, working on the project for seven years to culminate in this tremendous achievement." Trinity East Village Senior is the culmination of a long-standing vision by Trinity East Village CDC and Trinity East United Methodist Church to develop affordable housing on land adjacent to the church and help protect older adults with low incomes from displacement as neighborhood investment accelerates. The development has garnered broad support from community organizations and stakeholders and includes a land contribution from the Midtown Redevelopment Authority. In addition to Housing Alliance HTX, the City of Houston, Rice Real Estate Group, and Trinity East United Methodist Church, other funders include Bank of America and Churchill Stateside Group. Hudson Housing Capital served as tax credit syndicator. Residents of Trinity East Village Senior will have access to modern apartments, quality amenities, and on-site resident services, provided by Operation Pathways, NHPF's resident services subsidiary, with support from Trinity East. These services are designed to help older adults maintain independence and remain connected to the community. The development will serve extremely low- and low-income seniors, with residents expected to have an average income of approximately 41 percent of Area Median Income (AMI). "Trinity East Village Senior reflects years of community-driven planning and partnership aimed at ensuring that longtime Third Ward residents are not left behind as the neighborhood evolves," said Rev. Dr. Marilyn White, Executive Director of Trinity East Village CDC. "It is so rewarding to partner with an organization that shares our vision for a vibrant, inclusive community of older adults." Construction, to be undertaken by NRP Construction, will begin this summer, with the community anticipated to welcome residents in 2027. https://www.multifamilybiz.com/news/11410/the_nhp_foundation_and_trinity_east_village_cdc_co... Thu, 25 Jun 2026 07:02:00 GMT 72ea375f-5bcd-44eb-b1e0-8e8318612285 GREENVILLE, TX - Greenville is growing fast, and now it has a community designed to grow with it. Managed by NE Property Management, Aspire at Greenville Apartments has officially opened its doors, bringing a modern, lifestyle-driven residential experience that seamlessly blends comfort and convenience. More than just a new apartment community, Aspire at Greenville was thoughtfully designed for how people actually live today. Whether it's working from home in a bright, functional space, hosting friends on the weekend, or unwinding after a long day, Aspire offers a balance of style and practicality that feels both elevated and accessible. At a time when housing affordability is top of mind, Aspire at Greenville helps meet a critical need by providing attainable housing for Greenville's essential workers, including educators, first responders, healthcare professionals, service industry employees, and others who keep the city running. The community delivers high-quality living without the premium price tag often associated with new construction. The property features studio, one-, and two-bedroom apartments with clean, modern finishes and layouts designed for everyday living. Residents will enjoy open-concept kitchens, ample storage, in-home washers and dryers, private outdoor spaces, and attached garages in select homes, details that make daily life easier and more comfortable. Beyond the front door, Aspire at Greenville creates an environment that encourages both connection and relaxation. Amenities include a resort-style pool, fully equipped fitness center, pickleball court, outdoor gathering spaces, and a resident lounge designed to feel welcoming and lived-in, not just visually appealing. It's a place where residents can socialize, recharge, and truly feel at home. Conveniently located just off I-30, Aspire at Greenville offers easy access to local employers, retail, and dining along Wesley Street, while keeping residents connected to the broader growth happening across the area. "We wanted to create something Greenville doesn't already have," said Ryan Johnson. "A community that feels elevated yet approachable, where residents can enjoy a high-quality lifestyle with real, lasting value. Aspire is about delivering an experience that supports the people who are shaping this city every day." https://www.multifamilybiz.com/news/11409/ne_property_management_introduces_elevated_living_... Wed, 24 Jun 2026 10:25:00 GMT f0b16f2f-26b3-4dcd-9109-56b68320fa8e KAPOLEI, HI - James Campbell Company announced it has completed the purchase of The Element, a Class A, garden-style 318-unit apartment community located in West O‘ahu, one of the fastest-growing regions in Hawai‘i. The Element marks the company s first multifamily acquisition, and further diversifies and strengthens the company s portfolio, which spans properties in 11 states and 14 markets. We are proud to acquire a best-in-class multifamily property near our headquarters in Kapolei – the heart of where our company got its start – and support the housing needs of West Oʻahu residents, said Kevin Penn, president and chief executive officer of James Campbell Company. The Element is an exceptional residential community, and we are excited to bring the ownership of this top-tier property back into local hands as we intend to be long-term stewards of this residential community. Located in ʻEwa Beach, The Element is a half-mile from the University of Hawaiʻi – West O‘ahu campus and 500 feet from the Skyline Keoneʻae (UH West Oʻahu) rail station, which offers direct access to major employers including Joint Base Pearl Harbor-Hickam and Daniel K. Inouye International Airport, with future service planned to Downtown Honolulu in 2031. The property is within the Ho‘opili master-planned community – one of Oʻahu s largest new residential developments – and benefits from close proximity to retail, dining, entertainment, and parks. Built in 2020, The Element offers a mix of one, two and three-bedroom apartment homes. The community delivers an elevated living experience through comprehensive amenities, including a resort-style saltwater pool with cabanas, indoor-outdoor clubhouse, modern co-working facilities, shared outdoor kitchens and BBQ areas, a coffee shop, and a two-story, state-of-the-art fitness center. Of the 318 rental units, 20% are reserved for people who earn no more than 80% of the area median income, preserving affordable housing in West O‘ahu. The Element will continue to be professionally managed by Greystar, a global leader in rental housing, investment management, development, and property management, providing continuity through its institutional knowledge and operational expertise. Residents can expect the same high level of service, responsiveness, and care they have come to rely on, with day-to-day operations and the overall resident experience continuing seamlessly. The acquisition of The Element is the second significant multifamily investment for James Campbell Company in recent months, and complements its active development of Nāliko, a 300-unit apartment community currently under construction in nearby Kapolei and scheduled for completion in late 2027. https://www.multifamilybiz.com/news/11408/james_campbell_company_expands_portfolio_with_acqu... Tue, 23 Jun 2026 09:33:00 GMT 759f2cd6-eea0-4812-972a-fcaf7a921020 VIENNA, VA - Middleburg announced the closing of a development site for Mosby Fairburn, a 252-unit Class A multifamily community in Fairburn, Georgia, an expanding community in South Fulton located approximately 20 miles southwest of Atlanta. Construction is scheduled to begin in Summer 2026, with project completion anticipated in Spring 2028. Prominently located along Senoia Road (Highway 74), approximately one mile south of Interstate 85, Mosby Fairburn offers convenient access to some of the region's largest employment and economic drivers. The community is situated roughly 10 miles from Hartsfield-Jackson Atlanta International Airport, the largest employer in the state of Georgia, and less than 10 minutes from Trilith Studios, one of the nation's largest and most advanced film and television production facilities. The South Fulton submarket continues to benefit from significant job creation, population growth and investment from both public and private stakeholders, said Sean Rosko, Middleburg s Atlanta-based Development Partner. This community capitalizes on those fundamentals while offering residents a differentiated Class A product in a highly accessible location. As demand for quality housing continues to outpace supply across many Atlanta submarkets, we believe Mosby Fairburn will present a compelling community that meets the needs of today s modern renter. Mosby Fairburn will consist of four elevator-serviced, conditioned-corridor residential buildings and one walk-up building. The community will also feature integrated retail space, a clubhouse and a thoughtfully curated amenity package designed to support a connected and convenient resident experience. As Middleburg's Class A multifamily brand, Mosby communities are designed to deliver an elevated residential experience through high-quality construction, thoughtful design and amenity-rich environments. Mosby Fairburn represents the firm s latest commitment to developing premium communities in high-growth locations where strong demographic trends, expanding employment opportunities and sustained housing demand support long-term value creation. https://www.multifamilybiz.com/news/11407/middleburg_acquires_land_parcel_for_252unit_mosby_... Mon, 22 Jun 2026 10:56:00 GMT 0c2d23e6-30b5-4e34-877b-b8dec8d7f856 DALLAS, TX - Hunt Capital Partners announced the closing of West End Lofts, a $125 million mixed-income, mixed-use redevelopment located at 711 and 805 Elm Street in Dallas, Texas. The project, led by Sycamore Development, will transform a large section of the iconic West End district into an innovative and pedestrian-oriented hub for housing and retail while preserving landmark examples of the area s architectural heritage. West End Lofts will bring 154 new homes to the area through the adaptive reuse of a five-story former furniture warehouse originally constructed in 1904, complemented by a new six-story building. The development will also preserve and restore a five-story building dating to 1925 that is thought to be the first parking garage constructed in Dallas. Connecting the two buildings, a pedestrian plaza will bring thoughtfully designed green space to a portion of Austin Street and to former surface parking space at 211 N. Austin Street. "The West End has extraordinary bones, and these two buildings tell an important story about Dallas' early commercial history," said Zachary Krochtengel of Sycamore Development. "Our vision from the beginning was to honor that history through careful adaptive reuse while creating a place that draws people back to the neighborhood every day. West End Lofts isn't just housing; it's a long-term investment in the vitality of this entire district." Upon completion, West End Lofts will offer: 154 residential units, including 63 income-restricted units serving households earning up to 30%, 60%, 70%, and 80% of Area Median Income and 91 market-rate units. Common areas including a swimming pool and courtyard, dedicated co-working and meeting space, a rooftop lounge, a game room and fitness center, along with bike storage and a pet spa. Ground-floor commercial spaces at 711 Elm and 805 Elm totaling more than 20,000 square feet. Dedicated student learning space for school-age children, notary services, and tax services will be available to residents. "West End Lofts is a strong example of what's possible when the right financing structure comes together around a project with real community impact," said Jeff Weiss, President of Hunt Capital Partners. "Our role as syndicator was to bring the tax credit equity, Federal Low Income Housing Tax Credits and Federal and Texas State Historic Tax Credits, to the table in a way that makes the economics work for long-term affordability and historic preservation. We're proud to partner with Sycamore Development on a project that does both." Financing for the project includes construction and TIF bridge loans from Bank OZK. Permanent loan financing will be provided by Grandbridge. The City of Dallas has committed $49 million in Tax Increment Financing (TIF) support to the project, reflecting its role as a centerpiece of the city's broader strategy to activate the historic West End, coordinate redevelopment around the West End DART light rail station, and align improvements with catalysts such as the reconstruction of the Kay Bailey Hutchison Convention Center. Hunt Capital Partners syndicated $19.5 million in Federal Low Income Housing Tax Credits, $7.9 million in Federal Historic Tax Credits and $9.8 million in certificated Texas State Historic Tax Credits. https://www.multifamilybiz.com/news/11406/hunt_capital_and_sycamore_development_revive_histo... Fri, 19 Jun 2026 09:56:00 GMT 4b75a787-4d0f-401f-8fef-de0d27281f39 CHARLOTTE, NC - Sherman Residential acquired Lemmond Farm, a Class A multifamily property in Charlotte, NC. Lemmond Farm is a 336-unit luxury apartment community located directly east of downtown Charlotte in the Bradfield Farms neighborhood. Completed in 2020, the property transformed a multigenerational family farm, and the name pays homage to the prominent 18th-century Lemmond family settlers. Situated at the intersection of Interstate 485 and Route 27, the property offers direct connectivity to major employment centers with access to more than 265,000 jobs within a 25-minute drive. Novant and Atrium have also chosen the intersection for medical centers, making Lemmond Farm an ideal location for healthcare professionals. Lemmond Farm's midrise property and its resident-focused amenities provide: One- to three-bedroom apartments expanding to over 1,300 square feet; A breathtaking lake house with floor-to-ceiling windows and a centerpiece fireplace; Luxury apartment finishes, such as granite countertops and full basin sinks; A resident clubhouse offering a mix of library and lounge designs; Multiple outdoor kitchens for hosting and gathering fireside or poolside; and Conveniences like in-unit washers and dryers, EV chargers, and a 24-hour gym with on-demand training programs. On June 11, 2026, Sherman Residential purchased the property. Its Chief Investment Officer stated: "We're excited to add Lemmond Farm to our growing Charlotte portfolio — this acquisition brings us to approximately 1,000 units in the market, which speaks to our conviction in the submarket's long-term fundamentals. East Charlotte continues to see strong employment growth and rising homeownership costs with limited new multifamily supply, which is exactly the supply-demand dynamic we look for. We look forward to bringing Sherman's hands-on ownership approach to this community." With a dedicated team, they look forward to creating a strong sense of community for their current and future residents. Sherman Residential has been in the real estate business for over 100 years and currently owns assets in six states. The family-owned company is headquartered in north suburban Chicago. https://www.multifamilybiz.com/news/11405/sherman_residential_expands_portfolio_with_acquisi... Thu, 18 Jun 2026 08:07:00 GMT a5d6ef7a-b296-4d92-986f-051bbce38da7 KNOXVILLE, TN - Capital Square, a leading sponsor of tax-advantaged real estate investments and an active developer and manager of housing communities nationwide, has completed Livano Knoxville, a 348-unit, Class A multifamily community located in a qualified opportunity zone in Knoxville, Tennessee. Capital Square partnered with LIV Development as co-developer. Livano Knoxville received its certificate of occupancy in October 2025, following the completion of the first of the development s two buildings, and has since begun leasing to residents. As of June 2026, the community is 74% leased and 57% occupied, tracking lease-up projections. "Livano Knoxville reflects our vision for delivering quality housing in high-growth markets while creating meaningful value for residents and investors, said Louis Rogers, founder and co-chief executive officer of Capital Square. This milestone underscores both the strength of the Knoxville market and the impact of thoughtful development." Located at 465 W. Blount Avenue, along the Tennessee River and directly across from the University of Tennessee s Neyland Stadium, Livano Knoxville includes studio, one-, two- and three-bedroom apartment homes averaging approximately 930 square feet. The community includes 35 workforce housing units reserved for residents earning up to 80% of the area median income (AMI). Residences feature wood-style flooring, stainless steel appliances, ceramic tile backsplashes and in-unit washers and dryers. Community amenities include a resort-style pool, two-story fitness center, coworking space, game day sky lounge with river and stadium views, and direct access to the Tennessee Riverwalk Knoxville and the surrounding region have experienced strong demand for high-quality multifamily housing, and Capital Square is proud to deliver Livano Knoxville to meet that need, said Whitson Huffman, co-chief executive officer and chief investment officer of Capital Square. Opportunity zone investment is intended to drive economic growth. This project satisfies the goal of the opportunity zone legislation by creating long-term economic growth. Development of Livano Knoxville has been funded in part by Capital Square s eighth qualified opportunity zone fund, CSRA Opportunity Zone Fund VIII, LLC. According to an economic impact study by FTI Consulting, construction of Livano Knoxville generated significant economic activity, including 635 jobs annually. The development produced a projected $2.9 million in state and local tax revenue during construction and is projected to generate $2.1 million annually through operations. Livano Knoxville adds to Capital Square s growing multifamily development platform. Since its founding in 2012, Capital Square has acquired more than 175 real estate assets on behalf of over 6,500 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code, along with others seeking stable cash flow and capital appreciation. The firm has become a recognized leader in opportunity zone investments and developments. https://www.multifamilybiz.com/news/11404/capital_square_and_liv_development_complete_348uni... Wed, 17 Jun 2026 11:52:00 GMT 89e78f3a-6ba8-433b-839e-14d144e93156 LAS VEGAS, NV - Quarterra, an industry-leading multifamily development and investment management firm, welcomed its first residents at its latest luxury community, ARCA, in southwest Las Vegas. ARCA is strategically designed for renters who demand an elevated, serene lifestyle. With meandering pathways through curated desert landscaping, courtyards and gathering spaces, the community design is rooted in an authentic southwest style. Nestled within the tranquil Spring Valley neighborhood, the community boasts a rare geographic advantage, providing immediate access to the high-energy Las Vegas Strip, the upscale atmosphere of Summerlin and the natural beauty of Red Rock Canyon. "We're excited to welcome our first residents and proud to introduce this exceptional living experience to Las Vegas," said Tyler Wood, Quarterra's Senior Director of Development for Las Vegas. "ARCA offers a refined residential retreat with its own reserved atmosphere, yet positions residents to embrace the opportunities of the city or embark into nature. Our resort-inspired amenities cater to a contemporary lifestyle, while our location encourages connectivity with the neighborhood, city and region." ARCA is a boutique five-story mid-rise featuring 356 meticulously crafted apartment homes. Residents can select from a diverse range of floor plans, including spacious studios and one- and two-bedroom layouts spanning 707 to 1,320 square feet. With ARCA, Quarterra's development team demonstrated its commitment to environmental responsibility through sustainable practices, allowing the community to earn the prestigious Green Globes Certification. The surrounding neighborhood serves as a vibrant extension of the ARCA lifestyle. The community is situated near premier retail plazas and a burgeoning culinary scene. Residents are just minutes away from destination dining experiences, including Sorellina Cucina Italiana, Butcher & Thief, Katsu Ya Ton Ton and Rare Society. For shopping and social outings, Town Square Las Vegas, Downtown Summerlin, and the world-famous Las Vegas Strip are all conveniently accessible, ensuring that entertainment is never far from home. The community also thrives on local culture, with residents enjoying proximity to the UnCommons Farmers Market, Fresh52 Farmers and Artisan Market, the Summerlin Festival of Arts and the Spring Valley Library Spring Fair. For active lifestyles, recreation abounds at the nearby James Regional Sports Park and the Las Vegas Ballpark. In addition to its central location, ARCA offers excellent connectivity. The area is well-served by regional transit, including Route 212 (Sunset), Route 120 (Fort Apache/Rampart), and Route 121 (Durango/Buffalo), facilitating an easy commute. Sports enthusiasts and entertainment seekers will find themselves at the center of the action. Major venues such as T-Mobile Arena, Allegiant Stadium, and the South Point Arena and Equestrian Center are within quick reach. Neighborhood entertainment attractions include Durango Casino, Red Rock Casino, AMC Town Square 18, Dave & Buster's and Velocity Esports. Whether seeking a quiet evening in a boutique setting or a night out at a world-class venue, ARCA provides the perfect home base. Amenities are curated for a resort-style lifestyle, with very detail composed to foster a sense of effortless luxury and community connection. In-home technology includes electronic access control, interconnected smart locks, smart thermostats and ButterflyMx intercom systems. ARCA is Quarterra's first multifamily development in Las Vegas and second in Nevada. https://www.multifamilybiz.com/news/11403/quarterra_delivers_sophisticated_living_and_city_c... Tue, 16 Jun 2026 11:36:00 GMT 9f22e5b1-9713-40e2-81b0-6a771013e30c CAMDEN, NJ - Hudson Valley Property Group (HVPG), a leading national affordable housing preservation company, announced the completion of a $130 million preservation and renovation project at The Encore (formerly Northgate One), a 321-unit, 21-story affordable family housing tower at 433 North 7th Street in Camden, New Jersey. The 18-month renovation was completed in August 2025 using an on-site relocation approach that allowed all residents to remain at the property throughout construction. HVPG marked the milestone on June 4 with an official ribbon-cutting ceremony alongside city, county, state, and federal partners. During the event, city officials announced plans to designate the area between 7th Street and Elm Street as "Hudson Valley Way" in 2027 in recognition of the firm's transformative investment in Camden. "I am so excited for our North Camden neighborhood and commend Hudson Valley Property Group for committing to the City of Camden," said Camden Mayor Victor G. Carstarphen. "The ribbon cutting for The Encore is not only a new beginning for the building, but also for its residents. I am impressed by the enhanced community spaces, amenities, and high-quality renovations. It's a vibrant environment and the overall transformation is simply remarkable. The $130 million investment in this property will ensure an improved quality of life while preserving its long-term affordability for generations to come." "This project exemplifies our commitment to preserving and enhancing affordable housing in the communities that need it most," said Jason Bordainick, Co-Founder and Managing Partner of HVPG. "Strong communities are built through strong partnerships, and The Encore is proof of what those partnerships can achieve." The $48 million construction scope included the comprehensive renovation of all 321 units alongside a reimagined façade, infrastructure updates, new amenity spaces, and energy-efficiency improvements expected to reduce energy consumption by 28.3%. Unit upgrades included new kitchens with Energy Star appliances, renovated bathrooms featuring WaterSense fixtures, through-wall heat pumps providing heat and air conditioning, new flooring, and LED lighting. New amenities include a fitness center, business center, community room and energy-efficient laundry facilities, as well as a restored two-story penthouse appointed with era-appropriate décor that will be used for special events. Residents also benefit from free Citizens-funded high-speed internet access throughout all units and common areas, helping expand access to education, job opportunities, and essential digital resources. The project also delivered significant security enhancements through HVPG's formal Community Enhancement Program, including the installation of a sitewide high-definition monitoring system, an audiovisual intercom system, access control at all entrances, a site-specific emergency plan, and active collaboration with the Camden Police Department. "This is the first time in a long time that I felt safe. I started to feel unsafe after 30 years of living here — and you guys gave us back our security," said Karen Merricks, a 30-year resident of The Encore. "The change is undeniable. Residents are proud of their apartments, and the atmosphere in the building has shifted completely." The Encore represents one of the first affordable housing preservation projects to leverage New Jersey's new Aspire tax credit program, administered by the New Jersey Economic Development Authority (NJEDA) under the Economic Recovery Act of 2020. "The NJEDA's Aspire Program supports Governor Sherrill's mission to expand housing options across the state, including for families in the City of Camden," said Evan Weiss, Chief Executive Officer of NJEDA. "This was a major renovation project that will help improve the quality of life for the residents of The Encore and expand access to community programming for families. Investments like this help bolster community revitalization, strengthen neighborhoods, and expand opportunities for future generations." Long-term affordability is locked in through a new 20-year project-based Section 8 HAP contract covering 96.5% of units which ensures residents pay no more than 30% of their income towards rent. The property is additionally subject to a 30-year LIHTC compliance period restricting all units to households earning no more than 60% of Area Median Income. "Today marks a new start for the 300-plus residents of The Encore, the property formerly known as Northgate One," said Melanie R. Walter, Executive Director of NJHMFA. "The rehabilitation of this 21-story building, which was facilitated by $49 million in Low-Income Housing Tax Credits from NJHMFA, has modernized the property's infrastructure and provided desperately needed improvements for every resident, making The Encore a striking embodiment of the spirit of renewal and transformation that drives 'Camden Rising.'" Beyond the physical transformation, The Encore introduced three community-centered programs: Encore Kids! — Funded by Citizens Bank, this 1,300+ square-foot facility is a unique indoor children's play space featuring wooden play structures and Montessori toys secured with access control and monitored security cameras. This no-fee amenity is available to all families at the property throughout the day. Fresh Artists — A partnership with the nationally recognized Philadelphia-based nonprofit Fresh Artists showcases artwork by Camden-area students in the building's common areas while funding art programs in underserved public schools. Pineland Alliance Urban Farm — An on-site produce farm empowering residents to grow and access fresh produce through educational programming and cooking demonstrations. Citizens Bank provided a $32.9 million construction loan and $53.3 million in Low-Income Housing Tax Credit (LIHTC) equity to support the renovation. The bank also invested an additional $1 million in Housing Opportunity Fund equity to enhance key resident-focused amenities at the property. "The Encore shows what's possible when public and private partners come together with a shared focus on residents," said Dan Fitzpatrick, President of Mid-Atlantic and Midwest Banking at Citizens Bank. "Alongside the redevelopment, we were proud to support enhancements that make everyday life easier for families and help strengthen communities over the long term." HVPG thanks its partners, including HUD, NJEDA, the New Jersey Housing and Mortgage Finance Agency (NJHMFA), the Camden County Improvement Authority, the City of Camden, Enterprise Community Partners, PGIM, Citizens Bank, BlueHub Capital, Fallbrook Finance, The Metro Company, KMA Design Studio, ETC, Fresh Artists, and Pineland Alliance. https://www.multifamilybiz.com/news/11402/hudson_valley_property_group_completes_130_million... Mon, 15 Jun 2026 12:05:00 GMT c2380ba0-da61-4a7a-a3c5-05fbb43e787c ORLANDO, FL - Halstatt Real Estate Partners, a real estate private equity firm, announced the acquisition of Cypress Run, a multifamily community located in Orlando, Fla. The property was acquired in partnership with GoldOller Real Estate Investments, a long-standing Halstatt partner. Cypress Run represents an opportunity to acquire a well-maintained asset in one of Orlando s fastest-growing corridors at an attractive basis, said Steven Iannaccone, managing principal, Halstatt Real Estate Partners. The property benefits from durable demand drivers, limited new supply within the submarket, and a business plan that allows us to thoughtfully enhance the community while further positioning the asset within its competitive set. Located in East Orlando, Cypress Run is near several of the region s most significant long-term economic drivers, including Orlando International Airport s ongoing $6 billion expansion and the 650-acre Lake Nona Medical City. The submarket has experienced limited new multifamily supply in recent years and continues to benefit from demand driven by the area s growing healthcare, education, and service-oriented workforce. The partnership plans to implement a value-add renovation program focused primarily on interior upgrades, including new appliances, countertops, and updated finishes and fixtures. This marks another investment between Halstatt and GoldOller, which manages more than 40,000 apartment units across 10 states and maintains a significant operational presence throughout Orlando. The firms have previously partnered on the SunMeadows Portfolio and the recent acquisition of Isles at East Millenia. Halstatt Real Estate Partners invests in value-add and opportunistic real estate projects across Florida, Texas, and the Southeast, partnering with experienced sponsors to reposition assets and strengthen portfolio performance. In addition to its multifamily investments, Halstatt has been an early mover in the build-to-rent sector, with seven projects totaling more than 1,350 units across Florida, Texas, and Ohio. https://www.multifamilybiz.com/news/11401/halstatt_real_estate_partners_completes_acquisitio... Fri, 12 Jun 2026 10:42:00 GMT 5553023a-eb35-4e4f-a08e-58673f96f2ba