BROOKLYN, NY – Canyon Partners Real Estate, Tavros, and Charney Companies announced their joint venture for the development of 251 Douglass Street, a 260-unit multifamily development in the Gowanus neighborhood of Brooklyn, NY, a qualified opportunity zone.
The Project is being capitalized with $64.4 million of equity and the joint venture simultaneously closed on a $119.9 million senior construction loan with financing provided by Barings. The debt was arranged by Newmark, led by Co-Presidents of Debt & Structured Finance, Jordan Roeschlaub and Dustin Stolly, and Executive Managing Director Chris Kramer.
The Class-A multifamily development is 15 stories, with ground-floor retail, parking, and a significant amenity package. The Project features several environmental, social and governance (ESG) attributes, including 65 permanently affordable housing units, an energy efficient design and space allocated to community and maker retail use.
In January 2023, Canyon, Tavros, and Charney announced a joint venture for the development of 585 Union Street, a 224-unit multifamily development also located in the Gowanus neighborhood.
“As Gowanus becomes a central community for families and young professionals, there is a growing need for modern, affordable housing in the area,” said Nicholas Silvers, founding partner at Tavros. “With the neighborhood positioned for long-term growth, we look forward to providing apartment housing that will benefit both residents and the community.”
The Gowanus neighborhood is a diverse metropolitan area that has undergone significant transformative growth. 251 Douglass will be central to Gowanus’ range of retail, entertainment and hospitality offerings, including Whole Foods, the Barclays Center and the Thomas Green Playground and park.
“251 Douglass will offer a modern, highly amenitized living community to Gowanus’ residents. Its proximity to Brooklyn’smajor subway lines in addition to the city’s parks, shopping and entertainment will provide the convenience and accessibility today’s residents are seeking,” added Sam Charney, Principal of Charney Companies. “We value our continued partnership with Canyon Partners and Tavros to deliver much-needed, high-quality housing.”

KATY, TX – National multifamily real estate development leader Wood Partners announced the official groundbreaking of its latest residential community, Alta Grandway, located just west of Houston in Katy, Texas. With construction on the project already well underway, Alta Grandway is expected to begin pre-leasing early next year and officially welcome residents home by May 2024.
Positioned at 2110 Grandway Drive, Alta Grandway is nestled in one of the most sought-after residential communities in the Greater Houston region. Conveniently situated adjacent to I-10, the forthcoming property will offer residents direct access to a wide range of nearby retail choices, including Grand Morton Town Center, which is home to leading retailers and restaurants including Kroger, HomeGoods, Petco, Starbucks, Chick-fil-A and more. Residents of Alta Grandway will also benefit from the community’s proximity to many of the city’s top employers, including Texas Medical Center-West Campus (Houston Methodist, Texas Children’s and MD Anderson), Memorial Hermann Katy, Toshiba and Katy ISD, as well as various corporate headquarters, such as Shell Exploration and Production, BP North America, Igloo and Academy Sports + Outdoors. In their down time, there are also several nearby outdoor recreational spaces for future residents to explore and enjoy, including Mary Jo Peckham Park, Katy Park and Mason Creek Hike and Bike Trail.
“We are thrilled to break ground on Alta Grandway,” said Bart Barrett, Managing Director for Wood Partners. “The community’s location offers prospective residents a reasonable cost of living, access to exceptional nearby employment opportunities, and is zoned to the award-winning school district Katy ISD. Wood Partners is excited to continue our growth in the greater Houston market and create remarkable living experiences for our future residents.”
Once complete, Alta Grandway will offer 336 apartment homes across the garden-style community comprised of one-, two- and three-bedroom custom-designed floor plans. Each home will showcase contemporary interior finishes enhanced by high-end fixtures to provide residents with a welcoming, luxurious place to call home. Key interior features include stainless-steel appliance packages, granite countertops, designer tile backsplash, 42″ cabinets and wood-style flooring in the living areas and carpeted bedrooms, as well as full-size in-unit washer and dryer sets for added convenience.
Throughout the Alta Grandway community, residents will be able to take advantage of a diverse range of top-of-the-line amenities, including a resort-style pool and outdoor kitchen, as well as an on-site dog park with an interior dog wash station. Inside, residents will also enjoy the community’s 24/7 state-of-the-art fitness center in addition to a dedicated business center, conference and entertainment spaces and clubroom, which will all feature wireless connectivity, as well as cutting-edge audio/visual technology.

BASALT, CO – Civitas Capital Group, a Dallas-based alternative investment manager offering niche opportunities in U.S. real estate, announced the firm has closed on a new development project, Terraces at Tree Farm, near Aspen, Colorado.
Notably, the development qualifies as a “rural” project (also known as a “Targeted Employment Area,” or TEA) under the definition of the USCIS, allowing EB-5 investors the opportunity to obtain access to set-aside visas and priority processing under the EB-5 Reform and Integrity Act of 2022.
Terraces at Tree Farm is a 72-unit, Class A active adult community in Basalt, Colorado, less than a 30-minute drive from Aspen. Terraces at Tree Farm is in Roaring Fork Valley, an economic hub in western Colorado that includes the communities of Aspen, Snowmass Village, Basalt, Carbondale, and Glenwood Springs. Roaring Fork Valley is home to high-income residents and world-famous tourist destinations. Residents at the Terraces at Tree Farm will enjoy stunning views of the snow-capped Rockies and direct access to the trail around Kodiak Ski Lake.
“Terraces at Tree Farm allows Civitas to continue expanding its involvement and capabilities within the housing space,” says Rootvik Patel, Managing Director, Investments. “While we continue to look for opportunities to acquire and develop properties directly, our experience with the EB-5 program allows us to also provide debt financing within the residential space to help capitalize quality deals, especially in periods where access to debt financing has tightened.”
Patel was co-lead on the project along with Justin Temple, Vice President, Investments.
“The Aspen area has become a playground for the rich and famous, and as a result is one of the most expensive places to live in the United States,” says Jeff Kiser, Director and Head of EB-5 Investments. “Because of this dynamic, we were able to find an EB-5 project located in an area that has maintained a low enough population to qualify as rural, while still supporting significant economic activity and demand for new housing.”

TAMPA, FL – Cross Lake Partners, GreenPointe Developers, and Rivers Residential announced the completion of The Easton Riverview, a luxury apartment complex in Riverview, Fla. With spaces that emphasize community, sophistication and technology, residences at The Easton Riverview are a fresh experience for modern living in Tampa. Adjacent to a Publix-anchored retail center and minutes from I-75, the 300-unit complex offers convenient access to major employers and popular retail.
“The Easton Riverview provides high-end apartment living in a submarket easily commutable to several major job nodes. We have witnessed the growth in the South Hillsboroug submarket first-hand over the past 15 years through our master-planned community development work, and we continue to believe in this submarket for the long-term” said Jon Shumaker, Co-Founder of Cross Lake Partners.
“The GreenPointe team is proud of what we have achieved at The Easton Riverview,” said Jim McGowan, Regional President, GreenPointe Developers. “With a premier location, modern residences featuring top-of-the-line finishes and best-in-class residential amenities, this community sets a new standard for multifamily residential developments in Hillsborough County.”
Available units range from one- to three-bedroom apartment homes. Each residence features 9-foot ceilings, stainless steel appliances and spacious kitchen islands with granite countertops, electronic entry system, smart thermostats, walk-in closets, washer and dryer, oversized windows, and a large patio or balcony.
The pet-friendly community has a 24-hour fitness center with yoga room, poolside cabanas and charging stations, a fully equipped conference room and Wi-Fi in common areas. Additional amenities include a variety of community gathering spots, two dog parks with dog spa, coffee bar lounge, EV charging stations and on-site storage units are also available. The Easton Riverview is controlled-access and offers 24-hour maintenance.

BOCA RATON, FL – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced the launch of Beckett by Mill Creek, the company’s attainable housing apartment brand.
The first community in the brand, Beckett Cottingham in Houston, has opened. Mill Creek has plans to break ground on two more Beckett communities in metro Houston in the coming year and will eventually roll out the brand nationwide.
“There is a profound need for attainable rental housing in this country, and the Beckett by Mill Creek portfolio will help meet this demand with communities that offer both an affordable and a high-quality living experience to middle-income earners,” said William C. MacDonald, chairman, CEO and president for Mill Creek Residential. “These communities will benefit tremendously from Mill Creek’s wide-ranging expertise and experience in multifamily. Together, our development, construction and award-winning in-house management teams will build and operate best-in-class apartment homes that provide our nation’s policemen, firemen, healthcare workers, teachers and others with the living experience they deserve.”
Apartment interiors in Beckett communities will include wood-plank style flooring, nine-foot ceilings, ceiling fans, stainless steel appliances, electric ranges, granite countertops throughout, kitchen islands, 42-inch custom cabinetry, central heating and air, spacious bedrooms, walk-in closets and full-sized in-home washers and dryers. Bathrooms will include tile surrounds and linen closets.
“The past couple of years have been an especially exciting time for Mill Creek,” said Darren Schackman, chief investment officer for Mill Creek Residential. “We have continued to develop and operate luxury apartment communities while also launching the Amavi brand of single-family rentals. Now, with the unveiling of Beckett by Mill Creek, we are further expanding our reach into the rental-housing market by providing a product for which there is immense demand. With these three distinct offerings, Mill Creek is providing outstanding housing for a wide variety of renters.”

HUNTERSVILLE, NC – Middleburg Communities announced plans to develop Hamlet Huntersville, a fully-amenitized built-to-rent community in the Charlotte MSA. Hamlet Huntersville will be developed on 44-acres along Old Statesville Road in Huntersville, N.C., approximately 20 minutes from Uptown Charlotte, and will feature a total of 265 single-family detached cottages and townhome units averaging 1,230 square feet. Construction is expected to commence in September.
We re excited to bring our Hamlet built-to-rent brand to Charlotte, a market that is attracting new families, corporations and job seekers at a high volume, said Austin Knapp, Partner of Middleburg Communities. Our proprietary research projects this growth to continue over the long-term, especially as individuals and families prioritize a higher quality of life, a lower cost of living and warmer temperatures – all of which Charlotte offers. We look forward to delivering a best-in-class product that offers maintenance-free living and is appealing to all types of lifestyles.
Middleburg s growing Hamlet brand of built-to-rent communities injects much needed rental supply into the growing Charlotte MSA, which has seen a 3.8% net growth in jobs since 2020 and is home to six Fortune 500 company headquarters. Hamlet Huntersville will offer the privacy and green outdoor spaces synonymous with traditional single-family living with a variety one-, two-, and three-bedroom floorplans. A clubhouse with pool and amenity center will anchor the community which will consist of 187 cottages and 15 townhome buildings.
Hamlet Huntersville will be located at 12345 Old Statesville Rd in the charming and historical town of Huntersville, known for its top-rated schools, proximity to Lake Norman, and variety of outdoor activities and attractions. Moreover, Huntersville has consistently ranked among the top places in the country to raise a family and is the fastest growing town in Mecklenburg County. Hamlet Huntersville s convenient proximity to I-77, I-485 and the future LYNX Red Line Extension provides a 20-minute commute to more than 334,000 jobs. The property is also across the street from the 500-acre Bryton mixed-use development, which is planned for 1 million square feet of retail and 2 million square feet of commercial space.
Steve Farmartino, Vice President of Development for Middleburg s Carolinas Region added, Charlotte needs a premium product that will meet the demand of its growing population. The demographics of today s average renter is changing. Millennials now have families, and they re met with aging rental units and limited new supply in some of the best job markets across the country. Our Hamlet communities seek to fill that gap where growing families and single professionals can coexist in professionally managed communities proximate to where they want to live, work and play.

WOODBRIDGE, VA – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with leading real estate investor Angelo Gordon, has broken ground on Lake Pointe, a market-rate apartment community in Woodbridge, Virginia. The 15-acre site will be transformed into five four- and five-story buildings comprising 355 units.
This development marks NRP s second partnership with Angelo Gordon, and Santander Bank has provided a construction loan for the project.
We’re incredibly excited to break ground on Lake Pointe and work in partnership with Angelo Gordon and Santander Bank, said The NRP Group s Senior Vice President of Development, Josh Wooldridge. This project represents our commitment to delivering best-in-class multifamily housing that meets the evolving needs of today’s residents. With its prime location and modern amenities, Lake Pointe is poised to become a sought-after residence for those seeking convenient, comfortable, and stylish living options in the greater Washington, D.C. area.
Lake Pointe is situated only twenty miles south of Washington, D.C. in Prince William County. The site is located just off the Prince William County Parkway exit on I-95, which sees nearly 160,000 visitors daily. Residents will have easy access to the Beltway for daily commutes to major employers in the region as well as a wide range of retail and dining options at the nearby Potomac Mills. A new state-of-the-art Kaiser Permanente medical center hub is located within walking distance and offers a wide array of medical care services, including same-day appointments. The site is also directly adjacent to a commuter parking lot with 2,300 spaces.
Equidistant to both U.S. Army Fort Belvoir and Marine Corps Base Quantico, Lake Pointe offers a short commute for those working at these mission-critical facilities. Additionally, the site is within walking distance of a daycare center and adjacent to several national retail establishments, including Target, DICK s Sporting Goods, Best Buy, Starbucks, and Panera Bread.
The amenities and floorplans of Lake Pointe were designed to meet the demands of post-pandemic trends, including larger units, floorplans with dens, work-from-home facilities, and on-site private telecommuting locations. Other amenities include a state-of-the-art fitness center, a luxurious swimming pool, parking garages, and a dog park and spa.
The development s first units are expected to be delivered in 2025.

PANAMA CITY BEACH, FL – The St. Joe Company announced the completion of North Bay Landing, an apartment community located in Panama City, Florida on Star Avenue, approximately one mile from State Road 231. This 240-unit apartment community represents a significant addition to the city’s rental housing market, and it is already over 90% leased.
North Bay Landing offers a diverse selection of residential floor plans, catering to various needs. The community s amenities include a zero-entry pool, playground, dog park, and a fitness center.
North Bay Landing was fully completed in June 2023. The community offers one- and two-bedroom apartments, as well as three-bedroom townhome-style apartments which include garages. The location’s proximity to the growing State Road 231 corridor, as well as nearby schools, several area employers, and Tyndall Air Force Base makes this community especially suitable for working families.
“The completion of this apartment community addresses a pressing need for more housing options in our area,” says Dan Velazquez, Senior Vice President of Commercial Real Estate for St. Joe. We set out to develop a community that would appeal to working families, teachers, first responders, and military personnel and their families. Over half of our residents are public servants that fit into one of these categories, which demonstrates the need for this type of housing in Bay County.
With the North Bay Landing now fully open, the portfolio includes a total of 1,024 completed multi-family and senior living units, with 359 additional multi-family and senior living units currently under construction.

TAMPA, FL – Carter Multifamily, a division of Carter Funds focused on acquiring and managing value-add multifamily real estate, has purchased Mode at Ballast Point located at 6306 S. MacDill Avenue in Tampa, Florida for $57.5 million. Carter Multifamily plans to reposition the 276-unit garden-style property, originally built in 1988 and formerly known as Solis at Ballast Point, under the new name “Mode at Ballast Point.”
On 21.51 acres and spanning 218,592 net rentable square feet, Mode at Ballast Point boasts a strategic location in close proximity to prime retail and job hubs, prominent healthcare institutions, business parks, and major employers in Tampa, including MacDill Air Force Base which employs over 19,000 personnel1 and is minutes away from the property.
According to the U.S. Bureau of Labor Statistics, Tampa metro employment grew 4.3% year-over-year as of May 2023; the second fastest among large metros and surpassing Florida 3.6%) as well as the national employment growth rate (2.6%).
“We are thrilled to expand our presence into Tampa; an attractive multifamily market due to its favorable renter demographics, desirable climate, and growing economy. Mode at Ballast Point is situated in the highly sought-after South Tampa area near major employers, entertainment, and outdoor amenities, making it a desirable location for work and play. With the capital improvements planned for this property paired with our confidence in Tampa’s potential to drive demand for high-quality, affordable apartments, we believe Mode at Ballast Point will be an accretive addition to our value-add real estate portfolio,” said Ray Hutchinson, chief investment officer of Carter Multifamily.
Amenities at Mode Ballast Point include: a resort-style pool, private lake and park, an on-site pet park and is minutes from a waterfront walking/biking path along Bayshore Boulevard. Carter Multifamily intends to execute a value-add strategy which will include operational improvements, upgrades to community amenities, interior unit renovations, and exterior building improvements.

CHARLOTTE, NC – Leading national multifamily real estate developer Wood Partners announced the grand opening of its newest luxury residential community, Alta West Morehead, located in Uptown Charlotte, North Carolina.
Alta West Morehead is the culmination of a joint venture announced in September 2021 between Wood Partners and GTIS Partners, a global real estate investment firm managing $4.3 billion in gross assets with a U.S. focus on residential and industrial/logistics investments.
Located at 2020 W Morehead Street in Charlotte’s FreeMoreWest neighborhood, Alta West Morehead puts residents within minutes of the popular retail, dining and entertainment establishments that Charlotte has to offer. Several local craft breweries are within walking distance of the community, along with the new Salt + Vinegar development, which offers over 73,000 square feet of retail stores, restaurants and office space.
“Alta West Morehead is our second development in the FreeMoreWest submarket of Charlotte, and we are so excited to welcome a fresh crop of residents to their new home,” said Carter Siegel, Managing Director at Wood Partners. “This community provides endless options for working, dining and entertainment, allowing our residents to work hard so they can play hard.”
“We’re excited about the grand opening of Alta West Morehead, which underscores our mission of providing high quality rental housing to growing, underserved areas throughout the Sunbelt Region,” said Amit Rind, Managing Director of GTIS.
Alta West Morehead offers 308 apartment homes, providing a mix of studio, one-, two- and three-bedroom floor plans for residents to choose from. Each home features an array of luxurious interior finishes including stainless steel GE appliances, white quartz countertops, frameless rustic wood grain cabinetry, white-tiled kitchens and bathrooms, full-size washer/dryer sets and contemporary regency grey wide-plank flooring throughout. Additionally, there is a controlled access covered parking deck with electric vehicle charging stations and bike storage for added resident convenience.
Throughout the community, Alta West Morehead residents have access to a wide range of best-in-class amenities, including a resort-style pool and outdoor terrace, as well as an on-site paw spa and pet wash. Inside the community clubhouse, residents can enjoy the community’s 24/7 fitness club with Peloton bikes, multiple co-working spaces with private micro-offices, club lounge, and a game room featuring foosball, arcade games and shuffleboard.
Alta West Morehead’s prime location also puts residents within walking distance of Bank of America stadium as well as many of Charlotte’s beautiful parks accessible via the Greenway Trail. Additionally, a nearby future rail stop and direct access to I-77 and I-85 allow residents to easily travel throughout the city with the greatest of ease. Charlotte Douglas Airport (American Airlines hub with over 780 direct flights) is only a 15-minute drive west of the site.