http://www.multifamilybiz.com Latest News from MultifamilyBiz.com en-us © 2024 MultifamilyBiz.com 1 /news http://www.multifamilybiz.com/images/multifamilylogosmall.png 144 33 Multifamily News Headlines - MultifamilyBiz.com RSS Feed COLORADO SPRINGS, CO - Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, hosted a ribbon cutting for Alta25, a 264-unit Class A multifamily community in the Colorado Springs suburb of Monument. The first residents began moving in during spring of 2024 and the community is nearly 30% leased. "Thompson Thrift has been developing apartment communities in Colorado for more than 14 years, and we seek to leverage our experience to create communities that meet the needs and desires of area residents," said Angie Atkins, senior vice president of community management for Thompson Thrift. "We think Alta25 delivers on style, luxury and convenience." Located at 1320 Herman View Way, Alta25 offers one-, two- and three-bedroom apartment homes, in three-story garden-style buildings. The homes provide luxury finishes including gourmet bar-kitchens with elegant quartz countertops, timeless tile backsplash, stainless steel appliances, designer fixtures and finishes, an Alexa-compatible smart hub to integrate all smart devices, smart thermostat and smart door locks, walk-in closets, full-size washers and dryers, detached garages, as well as patio, balcony, and private yard options. The luxury-living experience continues throughout the community with a 24-hour fitness center, resort-style swimming pool, thoughtfully designed courtyards, grilling stations, an outdoor game area, an electronic firepit with seating area, a dog park, pet spa with grooming station, and much more. Alta25 sits adjacent to Monument Marketplace, which is home to over 658,000 square feet of retail and restaurants, and within The Village at Jackson Creek, a mixed-use project currently in development. Historic downtown Monument, less than three miles north, offers small-town charm filled with unique and locally owned boutiques, restaurants, galleries and spas. Thompson Thrift expects construction to conclude this fall. At the ribbon cutting, visitors were able to view model tours and see the professionally decorated clubhouse and community amenities. Additionally, in support of Thompson Thrift's commitment to community outreach, they presented a check to local non-profit Paws N Hooves to aid their efforts in saving abandoned and neglected pets, reuniting lost pets with their families and helping connect animals with new families to care for them. Thompson Thrift is a full-service real estate development company focused on multifamily, ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. For nearly 40 years, Thompson Thrift has invested more than $5 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive multifamily, commercial and industrial projects. https://www.multifamilybiz.com/news/10898/thompson_thrift_hosts_ribbon_cutting_for_264unit_a... Thu, 18 Jul 2024 10:52:00 GMT bc43906f-521c-4820-9563-ef5411a00a59 LOS ANGELES, CA - Weingart Center and Chelsea Investment Group, The Richman Group, a leading developer and syndicator of affordable housing, announced the grand opening of Weingart Tower 1, the largest homeless housing project in Los Angeles history. The grand opening held on June 19, 2024 featured the 278-unit, 19-story affordable apartment community in the heart of the Skid Row District which stands as a beacon of hope and a significant step forward in the city's commitment to addressing homelessness. Weingart Tower 1 is designed to provide secure and dignified housing for unsheltered individuals. The community offers 228 studio-apartments and 50 one-bedroom apartments, three of which are designated for onsite managers and 40 specifically reserved for veterans. "We are incredibly proud to open the doors to Weingart Tower 1. It is more than just a housing project; it's a community built on the foundation of compassion, dignity, and respect," said David Salzman, President of The Richman Group Affordable Housing Corporation. "This critical project represents a monumental effort to provide high-quality housing and support services to some of our most vulnerable residents. By offering a stable living environment and access to essential services, Weingart Tower 1 aims to empower its residents, fostering a sense of community and belonging." Each Weingart Tower 1 apartment is fully furnished and complete with a full kitchen, private bathroom, television, and air conditioning. Community amenities include a fitness room, computer lab, career center, library, bike storage, laundry facilities, gardens and terraces and offers easy access to the LA metro. Residents of Weingart Tower 1 will also have access to a suite of supportive services such as life skill enhancement opportunities, counseling and advocacy service, substance use referrals, education and employment assistance, financial and budgeting assistance, pet and service animal support, and various health and wellness classes. The thoughtful design combined with the supportive services ensures that residents have everything they need to live comfortably and independently. The community aims to provide not just a place to live, but a place to call home. "This grand opening marks a significant milestone in Los Angeles' ongoing efforts towards ending the cycle of homelessness not just locally but beyond," said Terry Gentry, EVP for The Richman Group Affordable Housing Corp. "Weingart Tower 1 is poised to serve as a model for future projects, demonstrating that with commitment and collaboration, we can make a lasting impact on the lives of those in need." Weingart Tower 1 is a collaboration between Weingart Center Association, a Los Angeles-based 501(c)(3) nonprofit agency that provides supportive services to individuals experiencing homelessness; and Chelsea Investment Corporation, one of the nation's leading developers of affordable housing. The Richman Group is a co-developer and syndicated the Low-Income Housing Tax Credit Equity used to finance the project. https://www.multifamilybiz.com/news/10897/the_richman_group_affordable_housing_opens_largest... Wed, 17 Jul 2024 11:16:00 GMT 08b8c401-79d2-4f17-8026-486a6d1c354b NEW YORK, NY - KKR, a leading global investment firm, announced that KKR has acquired a portfolio of 18 multifamily assets from a closed-ended fund sponsored by Quarterra Multifamily, a premier multifamily real estate development and operating company, for approximately $2.1 billion. The recently-built, Class A portfolio consists of over 5,200 units concentrated primarily in growing coastal and sunbelt markets including California, Washington, Florida, Texas, Georgia and North Carolina, Colorado and New Jersey. The portfolio is a mix of mid-rise and high-rise buildings featuring convenient access to urban, metropolitan areas, high-quality construction, modern amenities and excellent energy, water and waste efficiency. "We are pleased to acquire this exceptional, well-located multifamily portfolio from one of the world s premier developers and owners of residential real estate, said Justin Pattner, Partner at KKR and Head of Real Estate Equity in the Americas. We believe this is a great moment to invest in real estate, as transaction activity starts to pick up on the heels of two-years of dislocation in commercial real estate markets. Across our platform we are finding opportunities where our scale, strong relationships, multiple pools of capital and local knowledge give us advantages as a buyer of large pools of high-quality, irreplaceable assets. "Quarterra is known for their high-quality assets and we are thrilled to be working with them on this transaction, said Daniel Rudin, Managing Director at KKR. We like the fundamentals in this sector. This portfolio serves high-growth metropolitan areas across the country, where new supply will slow down significantly looking out beyond the next couple years. We are excited to invest in this portfolio. KKR will work with leading multifamily operators, Carter-Haston, MG Properties and Dalan Real Estate to operate the assets. KKR is making its investment in this portfolio through capital accounts advised by KKR. KKR was advised on the transaction by Gibson Dunn & Crutcher LLP. Quarterra was advised by Troutman Pepper Hamilton Sanders LLP and Jones Lang LaSalle. https://www.multifamilybiz.com/news/10896/kkr_completes_21_billion_acquisition_of_multifamil... Tue, 16 Jul 2024 11:49:00 GMT 767cc547-2a3f-474a-900f-041fb3cac037 TAMPA, FL - Hamilton Zanze, a San Francisco-based real estate investment firm that owns and operates multifamily communities nationwide, today announced it has purchased Jade at North Hyde Park, a 192-unit apartment community in the North Hyde Park neighborhood in Tampa, Florida. The acquisition closed on June 20 and marks Hamilton Zanze's entry into the Florida market as it continues to expand its national portfolio. "We are excited to announce our first acquisition in Florida," said David Nelson, President and Chief Investment Officer at Hamilton Zane. "After monitoring the market for several years, we have secured an infill property in Tampa at a meaningful discount to replacement cost. This is the right asset, at the right time. We look forward to utilizing our broker and owner relationships to further expand HZ's portfolio into Florida." Situated at 608 N. Willow Ave., Jade at North Hyde Park was built in 2022 and offers studio, one-, two-, three- and four-bedroom apartment homes. Units range in size from 463 square feet to 1,421 square feet. Apartment features include abundant natural lighting, stainless-steel appliances, quartz countertops, undermount sinks, vinyl plank and carpeted flooring, smart home systems, electronic locks, washers, dryers and built-in wine storage in select homes. Community amenities include a fitness center with strength and cardio equipment, independent co-working spaces and conference room, courtyard pool with adjacent outdoor yoga lawn, onsite pet spa, garage parking, secured parcel receiving room and bicycle storage. Jade at North Hyde Park also offers an easy commute to downtown Tampa, The University of Tampa, Armature Works, Ybor City and the Tampa Riverwalk. In addition, the Green Spine urban commuter trail allows residents to walk or bike to restaurants and recreational attractions throughout the area. https://www.multifamilybiz.com/news/10895/hamilton_zanze_enters_florida_market_with_acquisit... Mon, 15 Jul 2024 11:24:00 GMT cc1b42b6-290f-4c3f-b8cc-e6c3469ce420 ATLANTA, GA - ECI Group with joint venture partner, The Griffin Fund, celebrated the grand opening of the newly-developed, 300-unit, The Corwyn Conyers apartment community in Conyers, GA. ECI leaders and team members were joined by officials from the City of Conyers, Old Towne Conyers, and the Conyers-Rockdale County Chamber of Commerce to commemorate the strong response from residents to the modern and fully amenitized community. ECI Development Vice President, Stephen Stover, welcomed the guests to the equine-themed ribbon-cutting, cocktail hour, reception, and open house that featured tours of the apartment models, saying, "ECI Group, along with our partners at The Griffin Fund, are so excited to present to the community The Corwyn Conyers, now almost 72% leased. The response to the architecture, expansive amenities, and well-appointed unit finishes has resulted in a groundswell of demand. We are pleased to provide first-class housing to folks considering moving to the I-20 East Corridor of Atlanta." The Corwyn Conyers features upscale one-, two- and three-bedroom apartments with modern amenities and aesthetics. Apartments feature include: Granite countertops and shaker-style cabinets; Electric Shlage unit entry locks; Modern GE Appliances; Plush carpeting in bedrooms; Tile backsplash and tub surrounds; and Two color schemes to choose from. Located at Courtesy Parkway and Old Covington Highway, and adjacent to over 1 million square feet of retail shopping options, The Corwyn Conyers is one of the first new apartment communities to be developed in the quickly growing Rockdale and Newton County submarkets in 20 years. https://www.multifamilybiz.com/news/10894/eci_group_and_the_griffin_fund_celebrate_opening_o... Fri, 12 Jul 2024 10:55:00 GMT ec6a921f-b693-4a9a-b003-a42775569e50 ORLANDO, FL - Wood Partners, a leading national multifamily developer, has started construction on V by Alta, a luxury apartment community located at 10149 Arise Loop in Orlando. V by Alta will be five stories tall and is Wood Partners' fifth community in the submarket; hence, the Roman numeral "V" in the name. "V by Alta's prime location benefits from tremendous drive-by visibility and access to some of Orlando's most prominent employers across the corporate, hospitality and tourism sectors," said Bryan Borland, Managing Director at Wood Partners. "We have continued to step up our game with each of our four prior communities in the vicinity, and V by Alta reflects the culmination of those efforts in bringing much-needed, high-quality rental housing to this dynamic submarket." V by Alta is located directly across the street from Darden Restaurants' corporate headquarters and around the corner from the 500-acre Grande Lakes Orlando campus, which comprises two world-class hotels, The Ritz-Carlton and JW Marriott. The community's 219 units will include a mix of studios, one-, two-, and three-bedroom floorplans. Construction is expected to be completed in the first quarter of 2026. Upscale amenities at V by Alta include a lobby lounge; clubroom with kitchen and bar; café with stadium seating and a coffee bar; business lounge with micro offices and coworking spaces; fitness center with a yoga and Fitness On Demand room; game room with billiards table; resort-style pool with cabanas and pool pavilion with a wet bar; pet park with pet wash station; outdoor exercise equipment; gas fire table; grilling stations; bike racks; and electric vehicle charging stations. The fifth floor features a Fireworks Lounge, where residents can experience nightly fireworks from the nearby theme parks. https://www.multifamilybiz.com/news/10893/wood_partners_brings_more_living_options_to_florid... Thu, 11 Jul 2024 10:57:00 GMT 82a80534-56bf-4f0f-810a-0951322164d6 CAMBRIDGE, MA - Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers, the nation's leading builder of luxury homes, along with joint venture partner PGIM, announced the grand opening of The Laurent, a new seven-story, 525-unit luxury mid-rise multifamily community in Cambridge, Massachusetts. Construction of The Laurent was financed through a $142 million construction loan facility from Wells Fargo Bank, N.A as Admin Agent, and BNY Mellon, and first occupancy began in October 2023. The community s grand opening celebration including a ribbon cutting event with local officials and development partners, as well as a reception for current and prospective residents. "The Laurent represents our commitment to bringing luxury living to vibrant locations positioned for growth," said John McCullough, President of Toll Brothers Apartment Living. "Together with our partners at PGIM, we have set a new standard of apartment living in Cambridge while expanding our footprint in the Boston area." The community boasts 21,000 square feet of amenity space, including two fitness centers along with a training studio, a saltwater pool with a lap lane and cabanas, landscaped courtyards, multiple coworking spaces, a social hub with functional bar and gaming lounge, and a rooftop deck with views of Fresh Pond and Boston. "The Laurent offers an unparalleled living experience, blending modern conveniences with the charm of Cambridge," said Will Adams, Regional Director of Acquisitions and Development for Toll Brothers Apartment Living in New England. "Residents will appreciate the thoughtful design and high-end finishes throughout the community, as well as the close proximity to all that Boston has to offer." The Laurent features a diverse mix of studio, one-bedroom, two-bedroom, and three-bedroom apartments, along with townhomes. Each residence at The Laurent is designed with luxury in mind, featuring Caesarstone quartz countertops, hardwood-style flooring, stainless steel appliances, smart home technology, and floor-to-ceiling windows. Select residences offer balconies or patios and views of Boston. Located at 55 Wheeler Street, The Laurent is just a ten-minute walk from Alewife Station, providing easy access to Kendall Square, Davis Square, and downtown Boston. The community's prime location offers convenient access to numerous dining, shopping, and entertainment options. https://www.multifamilybiz.com/news/10892/toll_brothers_apartment_living_and_pgim_open_525un... Wed, 10 Jul 2024 11:22:00 GMT 74458751-f6dd-4e7a-9487-c1e05e8a607f SEATTLE, WA - Amazon is committing an additional $1.4 billion in funding to the Amazon Housing Equity Fund, bringing the total to more than $3.6 billion to fund more than 35,000 affordable homes across the Puget Sound region; the Arlington, Virginia / National Capital region; and Nashville, Tennessee. The extension of the Housing Equity Fund underscores Amazon s commitment to affordable housing and to helping thousands of families live closer to where they work or near transportation hubs, removing a major barrier to success. In January 2021, Amazon launched the $2 billion Housing Equity Fund with the goal of creating and preserving 20,000 affordable homes across three of its hometown communities within five years. The Fund is designed to help moderate- to low-income residents access quality affordable housing. Amazon also announced today that it has exceeded its original goal two years early by providing $2.2 billion to create and preserve more than 21,000 affordable homes. We created the Amazon Housing Equity Fund to preserve and create homes that will remain affordable for the next century, ensuring families can stay in their communities for generations to come, said Amazon CEO Andy Jassy. We hope that our additional commitment — coupled with other public and private resources — will help make a meaningful difference for thousands more people and enable these regions to thrive. The Housing Equity Fund supports affordable housing developments focused on households that earn 30% to 80% of the area median income. That often includes first responders, teachers, health care workers, and others who may not typically qualify for subsidies but whose wages haven t kept pace with escalating rents. Amazon is also intentional about creating greater economic equity by supporting diverse-led developers through the Amazon Housing Equity Accelerator, a free, eighteen-month program, designed to foster the careers of diverse real estate developers while lowering the barriers they often face. Amazon has invested over $25 million to support the program, which has graduated 38 diverse developers to date. Amazon is continuing to fund this program as part of today s announcement. The 21,000 homes that the Fund has already helped to create and preserve will enable more than 46,000 residents to access affordable housing, and the majority of this housing will remain affordable for a century. The Fund is also designed to place this housing in areas that will positively impact these residents quality of life. For example, 92% of homes funded are near bus or rail stations to reduce transportation costs. In addition, while many new multi-family developments today consist primarily of studio and 1-bedroom units, 41% of the homes funded so far have two or more bedrooms to serve families. Here s a snapshot of the progress to date across the Fund s three communities: Helping create and preserve 9,500+ homes across the National Capital region and increasing Arlington, VA s affordable housing stock by 23%. Funding a total of 8,600+ homes across the Puget Sound region in Washington and increasing affordable housing stock by 30% in Bellevue, WA. Funding over 3,100 affordable homes across the Nashville, TN region. Funding 32% of the projects in partnership with diverse-led developers from these communities. While the initial $2.2 billion primarily supported affordable rental housing, the Housing Equity Fund is also piloting other ways to increase access to affordable housing. For example, in 2023 Amazon funded a $40 million program to make it easier for moderate-income residents to become homeowners, with the goal of creating generational wealth for historically underserved communities. Going forward, Amazon will continue to pursue new ways for the Fund to create positive housing outcomes for low- to moderate-income residents. https://www.multifamilybiz.com/news/10891/amazon_housing_equity_fund_to_create_and_preserve_... Tue, 09 Jul 2024 10:57:00 GMT 6664fc1a-8802-43e8-8f83-ba6215aaec84 FARGO, ND - Gindi Equities announced the acquisition of the Osgood Townsite Apartments, a multifamily community in Fargo, North Dakota, from Property Resources Group. The purchase marks Gindi's entry into the Fargo market, as the firm expands its national portfolio of premier residential assets. Gindi plans to invest in a renovation program to modernize and enhance the Class-B property. Planned improvements include redesigned kitchens and bathrooms and upgraded building exteriors and grounds. Gindi will also implement sustainable elements and energy savings fixtures to increase efficiency and reduce utility costs. Property Resources Group will continue to manage and service the asset. "Our strategic renovations will drive value and make Osgood one of the most sought-after housing options in the Fargo metro area," said Al Gindi, President and Co-Founder of Gindi Equities. "Governor Burgum's policies have made North Dakota a very attractive market to invest in. While this is our first acquisition in Fargo, we plan to continue to expand our holdings in this thriving market as we build a diversified portfolio across the country." With this acquisition, Gindi's multifamily portfolio is valued at over $250 million and spans 2,000 units in the United States. Gindi aims to expand its portfolio to over $300 million in holdings by 2025 as part of the firm's strategic growth plan. Over the past 12 months, Gindi has purchased nearly 500 apartment units in some of the best submarkets in the Southeast and Midwest. In addition to Osgood, other recent acquisitions include a multifamily community in Greensboro, NC. Built in 2004, Osgood is located at 4901 44th Avenue South and encompasses 243 apartments ranging in size from one to three bedrooms. Features and amenities including individual garages, a playground, and easy access to Fargo's employment hubs create a comfortable living experience for residents. With a high-earning population and business-friendly environment, the Fargo metro area is a growing hub for the tech, agriculture and healthcare sectors. Located in Southwest Fargo, Osgood is surrounded by a vibrant community that continues to draw professionals and families with its quality schools, robust retail and entertainment options, leading healthcare facilities and easy access to both major interstates. In addition, a nine-hole golf course is adjacent to Osgood. https://www.multifamilybiz.com/news/10890/gindi_equities_completes_acquisition_of_243unit_os... Mon, 08 Jul 2024 11:50:00 GMT ccd88439-7682-4dfe-b7cf-13d1b4dd4e2c TAMPA, FL - Blaze Capital Partners announced the acquisition of Lector 85, a 254-unit apartment community located just minutes from downtown Tampa in Ybor City. "It's an incredibly challenging transaction market, but we are continuing to stay active finding compelling, long-term investment opportunities across the rental housing spectrum amidst this period of pricing dislocation," said Eddy O'Brien, co-founder and managing partner of Blaze. "We believe we are entering an exciting acquisition cycle that presents an opportunity to acquire institutional-grade assets in great markets at attractive entry points. The acquisition of Lector 85 exemplifies our data-driven approach in identifying and capitalizing on market dislocations and unlocking value through customized asset enhancement strategies." Lector 85 is a Class A mid-rise apartment community built in 2021 and located within the culturally vibrant Ybor City submarket with walkability to abundant nightlife, entertainment, and restaurants. The community is strategically located on Selman Expressway, offering direct access to downtown Tampa and the region's largest employers including the Port of Tampa, Tampa General Hospital, and the Westshore Business District. Lector 85 offers residents studio, one, two, and three-bedroom apartments ranging from 518 to 1,255 square feet with unit features that include stainless-steel appliances, quartz countertops, full-size washer and dryers, and luxury vinyl plank flooring. Additionally, residents can enjoy the convenience of secured, direct entry parking and an extensive suite of amenities including a heated saltwater pool and grilling stations, a 24-hour fitness center, a pet spa for grooming, and various resident lounge areas. Blaze intends to invest additional capital into the community to further improve the resident experience and expand the ground-floor retail offerings. "We're thrilled with the acquisition of Lector 85 and are excited to execute our strategic business plan aimed at improving the community and delivering residents an exceptional living experience," said Chris Riley, co-founder and managing partner of Blaze. "Tampa continues to be one of the most transformational markets in the country and a target investment market for us as we continue to prudently expand our footprint throughout the Southeast. This acquisition is a testament to our commitment to providing high-quality, strategically located rental housing that meets the evolving needs of residents." Blaze has continued to grow its housing portfolio significantly throughout the Sun Belt with a focus on multifamily, built-to-rent single family, and active adult housing segments. This acquisition follows the Company's more recent acquisitions in Orlando and Charleston. Blaze expects to deploy capital opportunistically throughout the remainder of the year with an active pipeline of investments that align with its long-term strategic focus. https://www.multifamilybiz.com/news/10889/blaze_capital_partners_acquires_254unit_lector_85_... Fri, 05 Jul 2024 12:40:00 GMT c466ad09-0bde-45ed-8c77-06ded371d9e8 SAN ANTONIO, TX - SilverPoint Senior Living, a leader in senior living management, announced a strategic partnership with SGL Acquisitions and the acquisition of two significant properties, WestMark Senior Living in San Antonio and The Eastman Senior Living in Longview, TX, both formerly owned by Brookdale Senior Housing. "SilverPoint's rapid integration of the WestMark and The Eastman properties marks the beginning of a transformative phase. We are dedicated to enhancing these communities with innovative care and significant improvements aimed at elevating the quality of life for our residents," remarked Shimon G. Levy, Principal of SGL Acquisitions. "Our approach focuses on nurturing resident well-being, fostering vibrant communities, and ensuring excellence in every aspect of our operations." SilverPoint Senior Living and SGL Acquisitions are committed to preserving the valued traditions of WestMark and The Eastman while implementing modern, thoughtful upgrades to enrich the living experience. Residents, families, and the broader communities in San Antonio and Longview can look forward to a series of beneficial enhancements and developments as this partnership progresses. This venture marks a promising new chapter for both properties, ensuring the highest standards of senior care and living. Shawn Corzine, CEO of SilverPoint Senior Living, expressed his enthusiasm for this new partnership, stating, "Adding WestMark and The Eastman to our growing family portfolio signifies the start of an exciting and fruitful collaboration with SGL Acquisitions. We are eager to continue enriching the lives of residents in San Antonio and Longview for many years to come." SilverPoint Senior Living is renowned for its commitment to high-quality senior living services and enhancing resident well-being. SGL Acquisitions, with its extensive expertise in real estate investments and operational management, is ideally positioned to contribute to a brighter future for WestMark and The Eastman. https://www.multifamilybiz.com/news/10888/silverpoint_senior_living_announces_acquisition_of... Thu, 04 Jul 2024 11:06:00 GMT 8ec9d0a7-04cd-49a1-919f-1b3b77e5f3dd MOUNTAIN VIEW, CA - Cityview, a premier multifamily investment management and development firm, and Greystar, a global leader in the investment, development, and management of real estate, have sold a 164-unit mixed-use project in Mountain View, California. Elan Mountain View features a prime corner location in the heart of Downtown Mountain View as well as 11,000 square feet of fully occupied ground-floor retail space. With its ideal location, ample amenities and unique retail offerings, Elan Mountain View has been extremely well received by residents and the surrounding community, said Sean Burton, CEO of Cityview. It s been a pleasure to partner with Greystar on this property and we look forward to seeing its continued success. The community features studio, one-, two- and three-bedroom floorplans that include smart thermostats, keyless entry, quartz countertops, modern cabinetry, full tile kitchen backsplashes, wood vinyl plank flooring, stainless steel appliances and full-size washers and dryers. Select units feature street level walk-up entrances as well as private patios and balconies. Elan Mountain View features extensive amenities, including a fully equipped fitness center, two-level club room that includes a billiards table and chef s kitchen, hammock lounge, edible garden pathway, private business center and a courtyard with lounge seating, an outdoor kitchen, fireplaces and a fruit garden. The property also offers 164 storage units to residents and secured access parking. Located at 1030 Castro St., Elan Mountain View offers a primate location less than one mile from the Mountain View Caltrain Station and at the convergence of highways 101, 85 and 237, providing easy access to San Jose, The Peninsula and San Francisco. The area offers a true live-work-play lifestyle for residents, with Downtown Mountain View being home to more than 50 restaurants, bars and shops along with more than 1 million square feet of corporate tenancy. The property is within three miles of some of the fastest growing companies in the Bay Area, including Amazon, Google, Microsoft, Apple and Intuit. Current onsite retailers include Rose International Market, Mr. Sun, Le s Alterations, Tanya s Hair Design, and Oh! Honey Macaron. Cityview and Greystar originally broke ground on the development in 2016 and completed construction in 2018. https://www.multifamilybiz.com/news/10887/cityview_and_greystar_complete_disposition_of_164u... Wed, 03 Jul 2024 11:40:00 GMT 09755a8f-013f-4c32-8f8a-d3e235be32e0 DENVER, CO - Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer, and property manager, announced the start of leasing at Dryden, a luxury community that blends urban activity and walkability with the elegance and culture of Denver's thriving Golden Triangle Neighborhood. Dryden is a 420-home high-rise community adjacent to Downtown Denver and featuring 9,241 square feet of leasable retail space. A sanctuary where a healthy lifestyle meets the opportunities of a metropolitan hub, Dryden positions residents amid destination restaurants and shopping, as well as art and music venues, sports stadiums, trails, parks and civic events. The community itself incorporates smart home technologies alongside timeless finishes and amenities tailored to create an unparalleled living experience. "The design of Dryden didn't skip on the details, from its expansive rooftop amenity space to the hot and cold plunge tubs on a vast amenity space dedicated to health and wellness," said Nick Russell, Vice President of Development at the Quarterra Group. "Location is another strategic aspect of Dryden's development. Nestled between CBD, Wash Park, Cherry Creek and Capitol Hill, in the city's renowned Golden Triangle creative district, the community locale puts everything Denver has to offer right at residents' fingertips. But the hustle and bustle of the city is checked at the door, because Dryden offers a sense of ease and tranquility within its walls." Dryden is just steps away from the shops, restaurants and entertainment at the Denver Pavilions, as well as the resurgent Golden Triangle neighborhood. Local restaurants with a regional appeal include Amayo and its modern Mexican food, Rioja with its inventive Mediterranean cuisine and wine list, Euclid Hall Bar & Kitchen gastropub, Cuba Cuba, Levin Deli, Mercantile Dining and Provision's locally sourced dining and market, and Milk Market artisan food hall. The Denver Art Museum, Clyfford Still Museum and History Colorado Center offer a vast range of art and cultural education displays and programs. Dryden was aptly named after David Dryden, renowned Denver architect who designed more than 20 area schools, including the historic Evans School, which sits next door and will offer 100 parking spaces for planned retail and hospitality use in the area. Empower Field at Mile High (home of the Denver Broncos), Coors Field (home of the Rockies) and Ball Arena (home to both the Nuggets and Avalanche) are all downtown adjacent, as is Elitch Gardens amusement park. The walking paths and lively events scheduled at Historic Civic Center Park provide outing opportunities, as do the flower gardens and sculptures at Sunken Gardens Park, and the outdoor fields and courts at Lincoln Park. The Cherry Creek Trail, Platte River Trail and subsidiary trails create a scenic network of routes for biking, running, walking, and exploring the city. Union Station Farmers Market, Cherry Creek Fresh Market, Denver Arts Festival, Cherry Creek Arts Festival, Westword Music Showcase and Underground Music Showcase are just a few annual events that contribute to the Downtown Denver energy. The nearby Denver Civic Center also offers eight main shows annually, as well as smaller events spread throughout the year. Located at 1100 Bannock St., Dryden is in the Golden Triangle neighborhood, just south of Lower Downtown Denver (LoDo). The community is just three blocks from historic Colfax Avenue (US Route 40) — a main east-west thoroughfare through Denver, and less than two blocks from Broadway Boulevard, another cultural thoroughfare running north-south. The community also features easy access to Interstate 25, connecting to the rest of the metro area, as well as Fort Collins and Boulder to the north, and Colorado Springs to the south. Interstate 70 intersects I-25 just minutes north of the community, with access to the Rocky Mountains to the west and Aurora to the east. Light rail service is a short walk from the property, while regional bus routes traverse both Colfax and Broadway. Dryden features a six-level parking facility including 12 EV charging stations. Dryden consists of a mix of studio, one- and two-bedroom apartments, as well as penthouse homes, ranging from 462 to 1,458 square feet. Upper floor homes include spectacular views of both Downtown Denver and the Rocky Mountains. Modern homes come equipped with smart thermostats, USB outlets in kitchens and remote-controlled smart shades in penthouses. Kitchen highlights include a stainless steel appliance package, quartz countertops, tile backsplash, undermount sinks with designer faucets, pendant lighting and under cabinet ambiance lights. Homes feature luxury vinyl plank flooring throughout, with carpet in bedrooms. Spa-style bathrooms are adorned with tile flooring and shower surrounds. Bedrooms include expansive closet space and select homes showcase floor-to-ceiling windows. All Dryden residents will have access to an expansive pool and spa courtyard, complete with barbeque grills, gaming, fire pits, Wi-Fi and outdoor screens. A 19th-floor rooftop lounge, highlighted by indoor and outdoor social spaces, offers unmatched views of the city and majestic Rocky Mountains. Dryden's health and wellness level features a full wellness spa, hot and cold plunge tubs, steam room, sauna, 24-hour fitness center and movement studio with space for yoga and other classes. Dryden also boasts a carefully curated art installation featuring local and national artists sourced by Ann Benson Reidy + Associates. Co-working stations with conference space and private offices equipped with the latest technology to support remote workers. An on-site Pet Parlour and Doghouse cater to pet owners and pampered four-legged residents. The community also includes a versatile workshop space, drycleaning lockers and package room. Dryden is the seventh community currently under Quarterra management in the Metro Denver Area and will begin welcoming residents this summer. https://www.multifamilybiz.com/news/10886/quarterra_multifamily_starts_leasing_at_420unit_dr... Tue, 02 Jul 2024 08:56:00 GMT 21a0c86d-66e8-4659-8d1b-c895f9ed088a AUSTIN, TX - Wood Partners, a national multifamily real estate development leader, announced the grand opening of Alta Wildhorse Ranch, a luxury townhome community located directly off U.S. Highway 290 and Texas SH-130. Alta Wildhorse Ranch marks the third Wood Partners property opened in Austin within the past year. "We are excited to bring our latest community to Austin," said Bart Barrett, Managing Director for Wood Partners. "Located down the street from downtown Manor and with easy access to the Austin metro, Alta Wildhorse Ranch is a luxury townhome property that fits in well with the small town feel of the local community." Alta Wildhorse Ranch is situated in an ideal location, with access to major employers, recreation and shopping. Nearby employers include Samsung Semiconductor, Dell Technologies and St. David's Healthcare, and Tesla. Within minutes from the community are Walter E. Long Metropolitan Park, Manor Community Park, Shadow Glen Golf Club, Travis County East Metropolitan Park and McKinney State Park, all providing ample recreation opportunities from fishing and golf to picnic areas, scenic views and camping. Nearby shopping includes the historic Downtown Manor, The Domain in North Austin, and Mueller Development. The community is made up of 267 townhome residences in one-, two- and three-bedroom floorplans. Each home features a walk-in closet and oversized living and kitchen spaces. Kitchens are equipped with stainless steel Energy Star appliances, custom cabinets, granite countertops, large undermount sinks with premium fixtures, and designer ceramic tile backsplashes. The townhomes will have one- or two- car garages, fenced yards, 9-foot ceilings and a full-size washer and dryer and select units include separate studies. Homes with tech packages will include Ecobee smart thermostats and smart dimmer switches. Penthouses have contemporary storefront windows with panoramic views. Alta Wildhorse has a wealth of premium amenities, including a resort-style pool with tanning ledge and private cabanas as well as an outdoor kitchen with grill and bar area. The two-level clubhouse has a game lounge, TV room, kitchen and work-well space with reservable private offices and a conference room. The fitness center is two levels with top-of-the-line cardio and strength training equipment and a separate yoga/exercise room. Residents can further take advantage of the coffee bar and enclosed pet park while having peace of mind with the gated access and 24/7 maintenance. https://www.multifamilybiz.com/news/10885/wood_partners_celebrates_grand_opening_of_267unit_... Mon, 01 Jul 2024 10:51:00 GMT 33212475-dc9e-45c1-bd63-b845eead6503 DALLAS, TX - S2 Capital, a national, vertically integrated multifamily investment manager, announced the acquisitions of two multifamily properties, including Belle Rive Club Apartments in Jacksonville, Florida, and Vineyard Hills in Austin, Texas. Terms of the transactions were not disclosed. "The Austin and Jacksonville markets continue to demonstrate population and job growth, and combined with the repricing taking place in the multifamily sector, we believe these two properties have attractive risk/reward profiles and are an excellent value," said Ryan Everett, Vice President of Acquisitions at S2. "We are planning operational improvements and value-add upgrades and renovations to both Vineyard Hills and Belle Rive Club Apartments." The 104-unit Belle Rive Club Apartments at 8715 Belle Rive Blvd in Jacksonville features one- and two-bedroom layouts, with modern appliances, air conditioning, a combination of hardwood floors and carpet, in-unit washers and dryers and a balcony or patio in select units. Residents also access community amenities including a pool, grilling area, dog park, equipped fitness center, clubhouse, car wash area and access to the nearby inland lakes as part of the Royal Lakes neighborhood. The property sits about ten miles southeast of Downtown Jacksonville, seven miles from the University of North Florida and is also in close proximity to numerous restaurants, The Avenues mall and Interstate-95, Route 152 and Route-115 for convenient connection to adjacent areas. Spanning over 11-acres in Southwest Austin, Vineyard Hills is located at 7631 U.S. Hwy 290 West Austin with 202 units. The multifamily property offers spacious one-, two- and three-bedroom options, each with walk-in closets, a balcony, detached garages and select units with fireplaces, bay windows and tile floors. Additionally, the property features a pool, heated spa, picnic area with BBQ grills, an on-site laundry facility and a dog park. Surrounding Vineyard Hills, the Southwest Austin area has an array of shopping destinations, parks and schools, and is within 25-minutes from historic Downtown Austin. https://www.multifamilybiz.com/news/10884/s2_capital_acquires_belle_rive_club_apartments_and... Fri, 28 Jun 2024 11:47:00 GMT 42f6d78d-31ce-4e3f-881e-7559aba9c276 KANSAS CITY, MO - Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, hosted a ribbon cutting for The Depot, a 300-unit Class A multifamily community in the Kansas City suburb of Raymore. The first residents began moving in during winter of 2023 and the community is nearly 30% leased. "Thompson Thrift takes great care in all of the details—which is reflected in The Depot's apartment features, community design and amenity offerings," said Angie Atkins, senior vice president of community management for Thompson Thrift. "Now, our onsite team looks forward to delivering in both big and small ways to create an environment for our residents that lives up to our promise of excellence." Located at 101 S Dean Ave, The Depot offers nine three-story buildings with one-, two- and three-bedroom apartment homes. Apartment homes feature premium interior finishes including gourmet bar-kitchens with quartz countertops, stainless steel appliances, tiled showers with glass doors, 9-foot ceilings, wood-inspired flooring, walk-in closets with custom wood shelving and full-sized washers and dryers. The luxury-living experience continues throughout the community with a 24-hour fitness center, resort-style swimming pool and a dog park. Residents will also enjoy socializing and relaxing in The Depot's speakeasy-inspired clubhouse. The Depot sits adjacent to the Raymore Galleria, a 400,000-square-foot shopping center with many walkable shopping options. The community enjoys nearby access to Interstate 49, which provides residents with easy commutes to neighboring communities and major employers such as Cerner Corporation, Honeywell and Saint Luke's East Hospital. Thompson Thrift expects construction to conclude this summer. At the ribbon cutting, visitors were able to view model tours and see the professionally decorated clubhouse and community amenities. Additionally, in support of Thompson Thrift's commitment to community outreach, they presented a check to Ronald McDonald House of Kansas City to aid their efforts in providing housing and hospitality for 91 families who are experiencing the journey of caring for a sick child. Thompson Thrift is a full-service real estate development company focused on multifamily, ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. For nearly 40 years, Thompson Thrift has invested more than $5 billioninto local communities and has become known as a trusted partner committed to developing high-quality, attractive multifamily, commercial and industrial projects. https://www.multifamilybiz.com/news/10883/thompson_thrift_hosts_ribbon_cutting_for_300unit_t... Thu, 27 Jun 2024 11:48:00 GMT 548bfcf9-b700-4b70-acd3-506363b40859 PHOENIX, AZ - National multifamily developer Wood Partners announced the start of construction on Alta Dove Valley in Phoenix and Alta 87 in Gilbert, Arizona. These new communities bolster Wood Partners' presence in Arizona, bringing its total to 24 starts in the state since the Great Financial Crisis. "Phoenix has, and continues to, experience significant in-migration due to its favorable climate and thriving and increasingly dynamic economy," said Todd Taylor, Managing Director for Wood Partners. "There is a significant housing shortage in the MSA and we will need many thousands of units over the coming years to solve it. Notwithstanding current market chop and challenges, we remain bullish on the mid-term and long-term wider Phoenix market and look forward to delivering these exceptional apartment communities into the coveted Gilbert and North Phoenix submarkets." Alta Dove Valley is located at 2725 West Dove Valley Road. The community is across the interstate from the Taiwan Semiconductor Manufacturing Company's new $65 billion semiconductor fabrication facility in North Phoenix, which is expected to create approximately 6,000 jobs. The 380-unit multifamily building will include a mix of one-, two- and three-bedroom floorplans. Amenities will include a pool and spa, a state-of-the-art fitness center, coworking spaces, a two-story clubhouse and a sky deck. Alta Dove Valley broke ground in May 2024 and is expected to be completed in 2026. Alta 87 is a 257-unit luxury multifamily development in Gilbert, Arizona, conveniently located on Arizona Avenue, minutes from both the 60 and 101. Amenities will include a pool and spa, a state-of-the-art fitness center, two pickleball courts, co-working spaces and a two-story clubhouse. Alta 87 is Wood Partners' third community in Gilbert. The development broke ground in March 2024 and is expected to be completed in the first quarter of 2026. Wood Partners is a national leader in the development, construction, and management of multifamily communities across the United States. The company has been involved in the acquisition and development of more than 100,000 multifamily homes with a combined capitalization of $21 billion. The company currently owns 80+ properties across the United States representing more than 25,000 units. https://www.multifamilybiz.com/news/10882/wood_partners_expands_arizona_presence_with_ground... Wed, 26 Jun 2024 12:43:00 GMT 73085b15-ab88-4f5f-8bc9-4e5c1404edf8 JACKSONVILLE, FL - Affiliates of Harbor Group International (HGI), a privately owned international real estate investment and management firm, announced the acquisition of Ascend at Durbin Creek, a newly-built 350-unit multifamily property located in the South Jacksonville suburb of St. Johns, Florida. The property is in lease-up and 86.5% occupied as of May 2024 and has averaged 20 new leases per month over the past year, demonstrating strong lease-up performance and demand for high-quality apartment housing in the Jacksonville market. "As a new development with convenient access to employment and lifestyle destinations, we are confident in the ability to complete a successful lease-up," said Yisroel Berg, Chief Investment Officer – Multifamily at HGI. "Given the rapidly growing population in the South Jacksonville area, we anticipate Ascend at Durbin Creek to maintain a strong renter base and achieve steady rent growth as the area continues to attract new residents." Ascend at Durbin Creek is proximate to major employment centers of Jacksonville, including Flagler Center and Southside, which together provide upward of 126,000 jobs. Notable employers in the area include: Baptist Health South, Citi, Deutsche Bank, JPMorgan and Bank of America/Merrill Lynch. Residents are also a short drive to Pavilion at Durbin Creek, an open-air retail strip center with over 700,000 square feet of retail with Phase II to be delivered over the next several years. Developed in 2023, the property features stainless steel appliances, quartz countertops, modern tile backsplash, hardwood-style flooring, large walk-in closets and screen-in patios/ private yards. The property also offers a premier amenity package, including a 24-hour state-of-the-art fitness center, saltwater pool, poolside pavilion, dog park, EV charging stations, cybercafé, business lounge, game lounge and detached garages. HGI plans to increase the number of electric vehicle charging stations, add bike racks and turf to the pool deck. https://www.multifamilybiz.com/news/10881/harbor_group_expands_florida_footprint_with_acquis... Tue, 25 Jun 2024 23:34:00 GMT 27431518-15b8-438b-b540-1a59cca1d8d8 GRAND RAPIDS, MI - Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, hosted a ribbon cutting for The BLVD at Wilson Crossings, a 344-unit multifamily community in the Grand Rapids suburb of Wyoming. The first residents began moving in during winter of 2023 and the community is already 45% leased. "The pace of initial lease up at The BLVD at Wilson Crossings demonstrates the desire for stylishly appointed, highly amenitized apartment living," said Angie Atkins, senior vice president of community management for Thompson Thrift. "We are thrilled with the warm welcome we have received so far and look forward to serving the needs of area residents for years to come." Located near the intersection of Wilson Ave SW and 64th St SW, just off Highway 6 and Interstate 196, The BLVD at Wilson Crossings offers spacious townhome-style apartments with up to four bedrooms. Apartment homes feature luxury finishes and that are on-trend with single-family homes including quartz countertops, tile backsplashes, stainless steel appliances, walk-in closets, full-sized washers and dryers. Many of the apartments also come with attached garages and private yards. Conveniently located minutes from downtown Grand Rapids and Wyoming, The BLVD provides residents with convenient access to a tremendous variety of shopping and dining choices, abundant parkland, golf courses, and lots of family-friendly attractions and events. Thompson Thrift expects construction to conclude this fall. At the ribbon cutting, visitors were able to view model tours as well as see the professionally decorated clubhouse, 24-hour fitness center, resort style swimming pool, pickleball courts, turf game lawn with fire pit and dog park. Additionally, in support of Thompson Thrift's commitment to community outreach, they presented a check to Hand2Hand, a local non-profit delivering nutritious food to more than 12,000 West Michigan students facing hunger over weekends and on extended school breaks. https://www.multifamilybiz.com/news/10880/thompson_thrift_opens_344unit_the_blvd_at_wilson_c... Fri, 21 Jun 2024 09:48:00 GMT c0b6fd36-cceb-4f5b-b4ff-8add283186d2 POMONA, CA - Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced the start of preleasing at Modera Pomona, a contemporary apartment community in Los Angeles County. First move-ins are slated for August. The gated community, which includes 210 apartment homes and a refined suite of amenities, sits at 2710 North Towne Avenue on the southeast corner of the E. Bonita Avenue intersection. Positioned approximately midway between Los Angeles and San Bernardino, the commuter-friendly locale places residents in a scenic neighborhood within 10 minutes of a key transportation hub. "Modera Pomona offers a scenic respite removed from the bustle of the city, yet close enough for residents to easily access a vast contingent of commuter options," said Ryan Guthrie, senior managing director of development in Southern California for Mill Creek. "We're eager to provide a best-in-class living experience in a relaxed, modern-inspired atmosphere and look forward to welcoming our initial residents to their new homes." Residents will have access to a multitude of transportation options to the greater metropolitan area, as three of LA's primary thoroughfares—Interstate 10, Route 57 and Route 71—intersect the area. The nearby Pomona (North) Metrolink Station and Montclair TransCenter offer additional transportation options. The community is located less than two miles from Claremont Village, which is a desirable area for eateries. Pomona's thriving educational hub represents one of the area's key employment drivers and includes California State Polytechnic University, Pomona (Cal Poly Pomona) and Western University of Health Sciences. Additionally, the prestigious Claremont Colleges, which combine for more than 10,000 students, are less than two miles from the community. Modera Pomona offers one- and two-bedroom homes with den layouts available. Community amenities include a resort-inspired swimming pool, rooftop deck with fire pit and grilling areas, outdoor spa, landscaped courtyards, resident clubhouse, game room, Ping-Pong table, Bocce ball court, conference room, coworking spaces and a club-quality fitness center with cardio equipment and TRX system. Residents will also have access to Luxe package lockers, EV charging stations and several pet-friendly features, including a dedicated dog run, pet park and pet spa. The community also features a variety of native and drought-tolerant vegetation that help conserve water. Plants include pine, oak, agave, bamboo, bougainvillea and more, which are strategically placed on the roof, around the park and in courtyards throughout the community. Apartment homes include nine-foot ceilings, wood plank-style flooring, energy-efficient stainless-steel appliances, quartz countertops, tile backsplashes, kitchen islands, 42-inch custom cabinetry, walk-in closets, in-home washers and dryers, built-in shelving and private patios or balconies. Bathrooms feature soaking tubs, backlit mirrors, double vanities and linen closets. The community's smart home package includes mobile app community entry, programmable thermostats, controlled guest-access technology and bulk Wi-Fi. https://www.multifamilybiz.com/news/10879/mill_creek_announces_start_of_preleasing_at_210uni... Thu, 20 Jun 2024 09:45:00 GMT 2a7c450d-8023-490d-ae28-81dbba8679ab PHOENIX, AZ - Suncrest, a leading residential master-developer, is making waves in Charlotte and Phoenix with recent grand openings of two exceptional, luxury rental home communities – the first in their planned national portfolio of Zora Living communities. Zora University celebrated their Grand Opening May 25, and offers a selection of 108 one- and two-bedroom, craftsman-style homes, each featuring smart home technology, private entrance, and individually fenced and landscaped backyards. The community, conveniently located near major employment hubs, includes an array of amenities, including a sparkling resort-inspired pool, outdoor grilling stations, fitness facility, yoga lawn, and open-air courtyards. Sean Cooney, Suncrest Managing Partner, expressed his excitement: "Zora University redefines modern living, offering a unique blend of privacy through our single-family homes and convenience through exceptional management services. We are thrilled to bring this highly anticipated rental opportunity to residents in the Charlotte metro area." Zora Encanto celebrated their Grand Opening on April 13, and sets a new standard for sustainability and superior living. Located near major employment hubs, the 109 luxury, ranch-style, rental homes offer an impressive list of features including private entrances, private turf backyards, smart home technology, doggy doors, and more. Beyond these amenities, Zora Encanto showcases its commitment to sustainability, utilizing HercuWall® technology, an innovative, panelized exterior and demising wall system offering superior strength, insulation, and efficiency compared to traditional construction methods. Jason Rhees, HercuTech CEO, emphasized the benefits: "The HercuWall system absolutely differentiates Zora Encanto from competing products and highlights Suncrest's commitment to building better and focusing on residents' experience and well-being." Employing HercuWall will save over 35,000 kilograms of carbon emissions annually, reduce residents' energy bills by over $15,000annually, and save 600+ trees in the community construction. Mike Koch, Suncrest Managing Partner, expressed excitement about the HercuTech partnership: "We are extremely proud to offer our residents a higher level of privacy, soundproofing, significant energy bill savings, and other benefits that HercuWall offers." https://www.multifamilybiz.com/news/10878/suncrest_announces_grand_openings_of_two_zora_livi... Wed, 19 Jun 2024 09:31:00 GMT c7558e2e-7b17-42ac-8e02-4762d50c690b SAVANNAH, GA - Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, announced the development of The Liliana, a 360-unit Class A multifamily community in the prosperous Savannah suburb of Pooler. The company expects to begin construction in June, with resident move-ins slated for summer of 2026. "Savannah's impressive job and rent growth positions it as one of the fastest-growing cities in the Southeast," stated Josh Purvis, managing partner for Thompson Thrift Residential. "We're thrilled to introduce a Thompson Thrift community to this thriving market." Located near the sought-after Savannah Quarters neighborhood just off Interstate 16 and Pooler Parkway, The Liliana will span approximately 23 acres and will consist of three-story buildings offering one-, two- and three-bedroom apartment homes with up to nearly 1,400 square feet of living space. Apartment homes will feature many of the luxurious finishes and amenities for which Thompson Thrift communities have become known. Kitchens will boast stainless-steel appliances, a smooth glass-top range, a side-by-side refrigerator with ice and water dispensers and tile backsplashes. Residents will also enjoy hardwood-style flooring, walk-in closets, a full-size washer and dryer, high-speed internet access, energy-efficient LED lighting and a suite of Alexa-compatible smart home technology. Private yard, patio or balcony options and detached garages will also be available. The gated community will include a fully equipped fitness center, a 24-hour social hub, a resort-style heated swimming pool, electric firepits with seating area, pickleball court, a dog park and thoughtfully designed courtyards. The development's location 12 miles west of historic downtown Savannah positions it near several major points of interest including the Savannah-Hilton Head International Airport, as well as the area's most enticing retail, dining and entertainment options. A Publix-anchored grocery center and newly constructed Costco are also just a short drive away. The city of Pooler has experienced remarkable growth in recent years. According to U.S. Census data, Pooler's population increased by approximately 34% between 2010 and 2020. Major area employers include the Gulfstream Aerospace Corporation's divisional headquarters, Hyundai, Candler Hospital, Fort Stewart-Hunter Army Airfield and Memorial Health University Medical Center, to name a few. Purvis added, "Despite its rapid growth, Pooler maintains a small-town, charming feel and we have taken care to design a community that will integrate seamlessly with the adjacent Savannah Quarters neighborhood and be a place residents are proud to call home." https://www.multifamilybiz.com/news/10877/thompson_thrift_continues_georgia_expansion_with_3... Tue, 18 Jun 2024 09:30:00 GMT 09bcbec1-d9f6-49c2-bbec-05b45d919174 ORLANDO, FL - Aventon Companies, a prominent multifamily developer and general contractor with active projects throughout the Mid-Atlantic and Southeast, announces that it has broken ground on its fifth luxury apartment community in Orlando, FL. Located near its highly successful Aventon Isabelle lease up, Aventon Lake Conway will encompass 23 acres off Hoffner Avenue and add 346 units to the vibrant submarket. Aventon Lake Conway will offer one, two and three-bedroom units with top-of-the-line finishes and an expansive amenity package. Inside Aventon's signature community clubhouse, residents can look forward to amenities including a remote working lounge, game room, 24/7 fitness center and pet spa. Outside a resort-style pool courtyard will provide residents the ideal destination to cool off from the Florida heat. Offering the ultimate commuting location, Aventon Lake Conway will be located just two miles from Orlando International Airport (MCO) as well as a short drive from both the Orlando Health Campus and Downtown Orlando. "As the Orlando market continues to experience job growth across all sectors, contributing to an influx of new residents, we look forward to expanding our presence here and gearing up for the launch of Aventon Lake Conway," said Sean Flanagan, Senior Development Director. "The community will be located in the center of all of the area's exciting activity and will serve as the ideal destination for working professionals who both live and play here." Aventon Lake Conway's design was led by local Orlando architecture firm Cormia Design Group, with landscaping by Innovations Design Group (IDG), and interior design curated by Beasley & Henley. The community is expected to open for leasing in Fall 2025. Since 2019, Aventon Companies has assembled an impressive $2 billion portfolio of ground-up developments bringing nearly 9,000 Aventon-branded apartment homes to Florida, Georgia, the Carolinas, and the Mid-Atlantic. https://www.multifamilybiz.com/news/10876/aventon_companies_breaks_ground_on_its_fifth_luxur... Mon, 17 Jun 2024 11:44:00 GMT 9f540e3e-df94-4ea9-9b1d-8cbd4833702e DALLAS, TX - CIM Group announced the sale of Lennox at West Village, a 159-unit apartment community set on an approximately 6.49-acre property with 249 parking spaces that was acquired in 2013. Located at 3700 Cole Ave. in the West Village neighborhood of Uptown Dallas, the community offers contemporary residences designed as studio to three-bedroom floorplans. Built in 2001, Lennox at West Village s four-story building surrounds a center courtyard which features a resort-style pool with barbeque area and lounge space. Residents also enjoy an indoor gathering area, the Metropolitan Lounge, a coffee bar, fitness center and an on-site dog park. Lennox at West Village provides a sophisticated residence option in a walkable environment, proximity to the employment centers of Downtown and Uptown Dallas and easy access to a DART Rail station. Uptown Dallas is a charming district of treelined streets and buildings of a variety of architectural styles from earlier eras populated with a host of restaurants, cocktail lounges, and boutiques. Within Uptown, West Village provides a mixed-use environment with an expansive collection of shops, dining and entertainment options and is a hub of activity within Uptown. CIM Group is an active owner, operator and investor in Dallas. Its current area portfolio includes the 229,868-square-foot Offices at Turtle Creek Village and 95,000-square-foot Shops at Turtle Creek Village and the 488,202-square-foot Epic II office tower. For 30 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas. https://www.multifamilybiz.com/news/10875/cim_group_completes_disposition_of_159unit_lennox_... Fri, 14 Jun 2024 09:26:00 GMT 0e16ba0c-24cc-411f-a7e6-aefd4e1e9ad9 SEATTLE, WA - GMD Development, a private, mission-based developer/owner of affordable housing based in the Pacific Northwest, and WNC & Associates (WNC), a family-owned business known as both a pioneer and leader in the affordable housing industry, have closed a deal to begin construction on Victory Northgate, an all-new 6-story affordable housing development in north Seattle. Victory Northgate is scheduled for completion in April 2026. The development will create 182 affordable apartment units targeting families at 50% and 60% of area median income (AMI). Layouts include 13 studios, 101 one-bedroom units, 17 two-bedroom units, and 51 three-bedroom units. The development will also incorporate 6,800 square feet of commercial space with 77 underground parking stalls. Located at 1000 Northeast Northgate Way, Victory Northgate has a walking score of 90 and is ideally situated near an abundance of retail, services, and restaurants within blocks of the site. The property is also within walking distance of the new Northgate light rail station, which will provide residents with convenient transportation access to the greater Seattle area. The commercial space on the first floor of the project is tentatively planned to be occupied by a daycare facility run by the YMCA of Greater Seattle. The Seattle rental housing market is one of the most competitive in the country. LIHTC occupancy rates in the region are at 98.1%. Of the 6 LIHTC developments in Victory Northgate s primary market area, four are fully occupied and two have waiting lists that range in length from six months to two years, said Darrick Metz, Senior Vice President of Originations at WNC. The need for affordable housing in Seattle has never been greater, especially as we see occupancy rates and waiting list times for these homes continue to increase. We are proud to support the development of even more affordable housing options in the region. Victory Northgate will meet all mandatory criteria required by the Evergreen Sustainable Development Standard (ESDS), Washington State s sustainable building standard. Sustainable features will include energy star rated appliances, high-efficiency building mechanical systems, windows, and insulation, low-flow plumbing components, LED lighting throughout the property, and 90% drought-tolerant landscaping plants. The deal was structured with 4% LIHTC Equity, a construction and perm loan through Citi Community Capital, and a $25.2MM soft loan from the City of Seattle. AOF/Pacific Affordable Housing Corp. is participating as the non-profit co-general partner. https://www.multifamilybiz.com/news/10874/gmd_development_begins_construction_on_182unit_vic... Thu, 13 Jun 2024 09:25:00 GMT 44856915-81d3-484c-9edd-b86260ae196f