News

NYC Pension Funds Commit to $4B Investment in Affordable Housing

New York & Tri-State + Apartment Buildings

New York City’s five pension funds will invest a combined $4 billion in affordable housing production and preservation over the next four years through a new initiative titled the NYC Housing Investment Initiative. The initiative will support the construction of new mixed-income, workforce and affordable housing; preservation of existing units; and office-to-residential conversions. “Solving this...

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Slowing Job Growth Leads to Temporary Pause in Apartment Demand

Apartment Buildings

Amid slowing employment growth and declining workforce participation, the number of young adults living with family has risen to a record high, surpassing even pandemic-era levels. That has made a noticeable impact on multifamily absorption, albeit a temporary one, Marcus & Millichap says in a new Research Brief. Net absorption in the first half of...

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Southern Land Starts Work on Upper Kirby Office, Apartment Project

Texas + Apartment Buildings

Southern Land Company broke ground on its first Houston development at 2811 Kirby Drive in the Upper Kirby district. Upon completion, the 953,000-square-foot mixed-use development will include two towers rising from a shared parking podium and approximately 15,000 square feet of ground-level restaurant space well-suited for best-in-class dining. A 10-story tower, named 2811 Kirby, will offer...

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Developer Building Phase II of Lubbock Apartment Venture

Texas + Apartment Buildings

Martin Inderman Development obtained a $27 million construction loan for La Ventana at Canyon West Phase II in Lubbock, Texas. Dwight Capital arranged a HUD 241(a) new construction loan. Phase II is a 104-unit, upscale market-rate development that will be situated on a 4.24-acre site adjacent to the existing Phase I community, creating a single 292-unit...

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CBRE Tapped to Market Marquee Miami Development Site

Florida & Gulf Coast + Apartment Buildings

CBRE announced it is marketing downtown Miami’s largest remaining development site for $500 million, offering more than 10 million square feet of development potential. The 6.6‑acre property in the Park West neighborhood, known as the Miami Business & Entertainment District, is positioned for a large-scale mixed-use development that also allows up to 6,602 residential units...

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Park7 Helming $100M FSU Private Dorm Project

Florida & Gulf Coast + Student Housing

Hoar Construction broke ground on Icon Tallahassee, a nine-story multifamily community serving students at Florida State University in Tallahassee, Florida. Hoar is serving as the general contractor on the more than $100 million project, developed by Park7 Group and slated for completion in the fall of 2028. Icon Tallahassee will house 804 beds across one-bedroom...

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Mosaic Investment Completes First Ground-Up Development

California & West + Student Housing

Mosaic Investment Partners, the development affiliate of Mosaic Student Communities, has completed Tessera, a $56-million, purpose-built student housing community located at 1069 W. Exposition Blvd., near the University of Southern California (USC) campus. Tessera represents the firm’s first ground-up development and largest project to date. A ribbon-cutting celebration is scheduled for Friday, May 1. The...

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Harbor Stone Advisors Facilitates Sale of 310 Multifamily Units in Baltimore

Washington DC + Apartment Buildings

Harbor Stone Advisors has arranged the sale of Oak Hill Apartments & Townhomes, a 310-unit property in Northeast Baltimore. Harbor Stone Advisors President Justin Verner, Director Brooks Healy, Senior Advisor Tom Wohlgemuth, and Advisor Kevin Landolphi served as the exclusive advisors to the seller. The property, located at 2821 Mathews St., features a mix of...

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