News

RXR, Hudson Realty Capital Launch Bridge-to-HUD Loan Program

New York & Tri-State + Apartment Buildings

RXR and Hudson Realty Capital have launched a new $250-million bridge-to-HUD loan program for the acquisition and refinancing of multifamily and healthcare assets. The program is designed to provide borrowers with near-term capital certainty while establishing a defined pathway to long-term HUD-insured permanent financing. During the bridge term, borrowers have the ability to pursue FHA/HUD financing...

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Affirmed Housing, VTA Break Ground on San Jose TOD

California & West + Apartment Buildings

Affordable housing developer Affirmed Housing, the Santa Clara Valley Transportation Authority (VTA) and community partners have broken ground on RISE, a 195-unit affordable housing development adjacent to the Berryessa/North San José BART Station. The transit-oriented community will provide affordable housing for low-income residents and people transitioning out of homelessness. “This groundbreaking highlights what strong public-private...

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Construction Launches at $147M Adaptive Reuse Project in Poughkeepsie

New York & Tri-State + Apartment Buildings

Construction has begun at Wallace Campus, a $147-million, 187-unit mixed-use affordable housing development in the city of Poughkeepsie, Dutchess County. The project, located on Main Street, includes the transformation of a vacant department store and is part of New York Gov. Kathy Hochul’s $25-billion, five-year Housing Plan, which is on track to create or preserve 100,000...

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Pennrose Breaks Ground on Allston-Brighton Mixed-Income Project

Boston & New England + Apartment Buildings

Pennrose has broken ground on 95 Everett St., an 88-unit, transit-oriented, mixed-income housing development in the Allston-Brighton neighborhood of Boston. When complete in 2027, the project will deliver 100% income- and rent-restricted homes to one of the city’s fastest-changing neighborhoods. 95 Everett St. will offer a mix of studio, one-, two-, and three-bedroom apartments. Of...

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Contentious Dallas City Property Could Become Apartments, Retail

Texas + Apartment Buildings

The city of Dallas sold a long-vacant 14-acre medical site at 2929 S. Hampton Road to Option Real Estate for roughly $6.9 million. The Dallas Business Journal reports Options Real Estate has a 90-day due diligence period to inspect the site, with an option to extend for a few more weeks. Options seeks to invest at...

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Stafford, DBS Developments Agree to Partner on Toronto Apartment Tower Project

Canada + Apartment Buildings

Stafford and DBS Developments have formed a partnership to develop a purpose-built rental tower project in Toronto’s Yonge and Sheppard neighbourhood. Located at 11-21 Johnston Avenue, the project marks the first collaboration between the two Greater Toronto Area residential developers and is expected to be the first of several joint-ventures between the companies. Located roughly...

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Canadian REITs Making a Comeback as Investment, Market Conditions Improve

Canada + Apartment Buildings

Canadian REITs are making a comeback after four years of turbulence, according to commercial real estate investment experts. Seniors housing, industrial properties and retail assets are leading the recovery as investors anticipate a return toward historical performance levels, the experts told The Toronto Star, citing improving investment and market conditions. The sector has improved as...

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Developer Duo Inks $870M Construction Loan for Lake Austin Four Seasons Residences

Texas + Apartment Buildings

TYKO Capital provided an $870 million single-lender construction loan to Lincoln Property Company and Austin Capital Partners for Four Seasons Private Residences Lake Austin. The whole loan supports construction of a residential-only private resort community on Lake Austin, planned to include private residences, 28 villa lots, a private marina with 50 boat slips, and private club...

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