MBK Rental Living is leading a project to add 578 apartment units in northeast Denver. Tokyo Tatemono Co. is partnering with MBK, which helped with an equity investment in the project. MBK will also partner with Trammell Crow on Alexan Pena Station.
The community, not far from the Gaylord Rockies Resort, will span 12 residential buildings, each three to four stories tall upon completion. Once a building is completed, renters can occupy their unit.
The buildings will have a mix of one-, two- and three-bedroom floor plans spanning 686 to 1,350 square feet. Alexan Peña Station will also include around 46 affordable units for people earning 60% of the area’s median income.
The development will include two 8,070-square-foot clubhouse buildings. Other amenities include a standalone fitness center, dog parks, work spaces, collaborative meeting rooms and 24-hour wellness centers, a pickleball court, a resort pool, mini water fountains, cornhole stations and barbecues.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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