Lennar and Related Companies have broken ground on Tuxedo Reserve, a new community in New York’s Hudson Valley. The community will bring new single-family homes and townhomes built by Lennar, alongside a brand-new town center, The Village at Tuxedo Reserve, developed by Related Companies that will offer shopping, dining, year-round curated events and essential conveniences for residents and the surrounding region.
“Tuxedo Reserve started with a vision over 40 years ago to transform the area by creating the first new built-from-the-ground-up village in generations inspired by small towns and hamlets across America,” said Greg Gushee, EVP at Related Companies. “With our partners at Lennar, City officials and local stakeholders, we are able to make that dream a reality by creating a new neighborhood.”
Sales for single-family homes and townhomes will begin in 2025. Leasing for The Village at Tuxedo Reserve rental units will launch in 2026.
Greystar has plans to build a 340-unit apartment complex in Chamblee. The company spent $11.5 million on 7 acres at 5220 Peachtree. Chamblee officials selected the two firms in 2024 to pursue the project that was previously on city land. The Downtown Development Authority was the seller. The Atlanta Business Chronicle reports that Greystar is...
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Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
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