A number of government and non-profit agencies are collaborating on an inventive approach to housing. They are converting a shuttered Ford dealership into the Ford City Motor Senior Housing complex at 419 Main Street in Salisbury, North Carolina. The new complex, planned as a 55-plus community, will have apartments spread across five buildings. A hallway with units on both sides leads to the former Ford Dealership showroom, now the community space for the complex, with large glass-panel windows.
The original historic structure will house 28 units, with the new expansion comprising 36 units, for a total of 64 units of multi-generational living space. Rental costs will vary from $800 for efficiency units, up to $1,050 for two-bedroom units.
Development leader, Osceola Council on Aging (OCOA) will be joined buy HUD North Carolina, the US Department of Housing and Urban Development, and the North Carolina Housing Finance Agency in the effort.
ARCTRUST Private Capital and Edison Equity Residential broke ground on Serenova at Dripping Springs, a 175-residence, 55+ age-restricted community in Dripping Springs, Texas. The groundbreaking follows the August closing of the project’s construction loan, provided by North River Partners. This project follows the duo’s effort on Serenova at Woodforest, which broke ground in October 2025. Located adjacent to...
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An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...
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NAI Capital Commercial EVPs John S. Archibald and Guillermo Olaiz, alongside senior associate Stephen Lam of the Investment Services Group in the Pasadena office, represented the seller, Star Horizon, LLC, in the sale of ZK Plaza, a 41,586-square-foot office building in Pasadena. The property sold for $13,400,000, representing a 3.5% premium over asking. Located at...
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Central CA Commercial | California
Recckio Real Estate & Development
Northgate Real Estate Group
California
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