Development
Supportive Housing Coming to Brooklyn
Comunilife and NYC Health + Hospitals broke ground on a $28 million, 89-unit community that will provide housing to low-income residents and individuals with behavioral health issues.
Washington REIT Breaks Ground in VA
Named for its abundance of planned amenities, the Trove will be a 401-unit community in Arlington.
Palo Alto Housing Unveils Revitalized Affordable Asset
Colorado Park Apartments reopened after a $31.9 million renovation. The property is the oldest in the non-profit agency’s portfolio.
Affordable Senior Community Opens in Richmond, IL
The 25-unit community offers one- and two-bedroom apartments for $866 and $1,039, respectively, and is Energy Star Certified.
RADCO Expands GA Footprint With 38th Acquisition
The Atlanta-based developer acquired Ashford 6860, a 260-unit property in Norcross. The $22 million deal marks the company’s eighth purchase in the Gwinnett County submarket.
Lena New Boston Breaks Ground on 41 Mixed-Income Units
The $200 million redevelopment of the former Boston State Hospital site entered a new phase, which will include 22 affordable units. The project is part of Olmsted Green, a 42-acre development in the heart of the city.
Phillips Realty Secures $31M Financing for PA Project
The company worked on behalf of Woodfield Investments, the developer of the 320-unit Woodfield at Valley Forge in suburban Philadelphia. The asset will be part of of the Village at Valley Forge, a 122-acre mixed-use lifestyle property.
Top Financiers on What Keeps Them Up at Night
Despite transactional and political uncertainty in the first half of 2017, the real estate capital markets held firm, with ample capital and vigorous lender competition creating a robust environment for borrowers.
RADCO Picks Up 7th SC Asset for $23M
RADCO plans to invest $3 million to renovate Radius at West Ashley, a 198-unit Charleston asset previously owned by Raia Properties.
Leasing Starts at Murray Hill Marquis Luxury Apartments
The former boutique hotel is being converted into 260 modern no-fee studio and one-bedroom apartments, with rents ranging from $2,575 to $3,450 per month.