Development
Vitus Acquires 2 GA Affordable Housing Assets
The developer will invest a combined $12.5 million to renovate the properties, one of which was damaged by Hurricane Matthew in 2016, and keep them available to low-income residents.
The Biggest Bottleneck to Multifamily Supply: NIMBY-ism
A survey by the National Apartment Association found that local community resistance is seen as the top obstacle to new apartment construction. Big coastal cities are among the toughest places to build.
Charlotte Affordable Housing Property Underway
Developed by the NRP Group, Platform Lofts is one of the first affordable housing communities located on a new extension of the city’s light-rail system.
Affordable Houston Community Reopens Following Rehab
Dominium completed a $7 million interior and exterior overhaul at Quail Chase, a 248-unit development in the northern part of the metro.
2 Phoenix-Area Developments Secure $54M Financing
PCCP LLC provided the two senior loans that will be used to construct IDM Estrella Parkway in Goodyear, and IDM Cooley Station in Gilbert, Ariz.
Luxury Community Opens in Downtown KC
Copaken Brooks and Altus Properties have finished work on Arterra, a 126-unit property in the Crossroads Arts District. The 12-story building includes 1,800 square feet of retail space.
IA Community Opens After $5M Renovation
RiverEast in Council Bluff now offers new in-unit and common-area amenities including a fitness center and clubhouse, as well as outdoor recreation.
New Luxury Community Underway in Northern Colorado
Developed by Rooney Properties, the 176-unit Timnath Trail at Riverbend Apartment Homes is the first multifamily development in Larimer County’s rapidly growing town of Timnath.
Chicago Condo Development Breaks Ground
Named from the French word for Bishop, Eveq was designed by Sullivan Goulette & Wilson Architects and will feature 32 residences in the West Loop.
Last Beam Placed on NJ Mixed-Income Project
The state’s housing and mortgage finance agency assisted with the development that will provide 45 market-rate apartments and another 55 affordable units in the township of West Orange.