Development
Related Cos. Receives $50M Refi for Affordable MA Asset
MassHousing provided the funds for the renovation of Chestnut Park Apartments, a 489-unit community in downtown Springfield. Wells Fargo will act as the project’s commercial construction and permanent lender.
Jacksonville Development Gets $39M Construction Financing
Crest Residential’s 256-unit project is estimated to break ground in the spring, financed by a five-year loan from Protective Life Insurance Co.
NC Garden-Style Project Receives $21M Loan
Trez Forman provided the funds for St. Marks, a 183-unit community to be built in Burlington. Diamondback Investment Group is the developer of the project.
$30M Senior Living Project Breaks Ground in Suburban Chicago
Scheduled for completion in mid-2020, the three-story assisted living and memory care community will bring 86 residential suites to Highland Park, Ill.
McKenzie Brings New Units to WI Community
The development company has completed 60 units of Timber Valley Apartments, located in Madison, Wis., approximately 8 miles from the city’s downtown.
Dallas Housing Authority Aims to Grow Texas Affordable Housing
The agency has formed public-private partnerships with 12 different firms in order to redevelop seven of its properties.
LA’s Largest Co-Living Project Reaches Completion
California Landmark Group has completed construction of C1, a rental building featuring 51 market-rate apartments and 17 co-living units.
Portland Tower Receives $97M Loan
The 348-unit rental community taking shape in the heart of the city’s CBD is being developed by Alamo Manhattan. HFF arranged the financing on behalf of the developer.
How to Build Multifamily in Today’s Market
In an exclusive podcast, Pat Jackson, CEO of Sabal Capital Partners, talks about what led to the nation’s housing crisis, how preferences have changed, and the programs available for multifamily developers.
Jamboree Breaks Ground on Affordable OC Project
Encompassing 75 units, Santa Ana Veterans Village will cater to homeless veterans and their families. The developer estimates the total development costs at $29.7 million.