NEW YORK, NY – O’Connor Group of New York announced the launch of Elysian Watertown Square Residential Property Owner, a joint venture of O’Connor Group, FrontRange Capital Partners, and Takenaka Corporation. This 142-unit development at 53 Pleasant Street, Watertown, MA, will include a thoughtful mix of residential and retail space along vibrant Main Street.
Upon completion, the development will deliver 190,000 square feet of rental units, 15% of which will be allocated for households making 65-80% of the median income. The project will also include the renovation of a historic row house built in 1890, an undertaking that will convert the property into five for-sale condominium townhouse units with one set aside for affordable home ownership.
“We are thrilled to be bringing new market rate and affordable housing to a Main Street location like this in Watertown Square. With the help of our elected officials, town planning staff, and a first rate team of professionals we have designed a building in The Elysian at Watertown Square that we think will serve both new and existing Watertown residents for years to come – all in a fully sustainable program which sets the standard for new development in the area. With the help of great partners like Takenaka, FrontRange Capital, and Sumitomo, this type of housing development is a cornerstone of O’Connor’s future growth initiatives,” said John F. O’Connor of the O’Connor Group.
Developed to the highest sustainability standards, the property will be Passive House certified. The all-electric building will feature rooftop solar panels, structured parking with EV charging stations, and a transportation management plan to promote alternative options. Incorporating the resident-first experience created at Elysian at Stonefield, Elysian Watertown Square will offer a hotel-style lobby, a drop-off court with a porte-cochère entrance, meeting rooms, a clubroom, a coworking area, a state-of-the-art gym, a pet care spa, bike storage, and two rooftop terraces. The property will also include an art walk connecting Main Street to both Pleasant Street and The Charles River Walk.
“FrontRange Capital is very excited to partner with the O’Connor Group on another compelling development opportunity. Over the Company’s 40-year history, O’Connor has proven its ability to identify and capitalize attractive investments across the real estate spectrum. Elysian Watertown Square is another great example of their long-standing development track record, and we couldn’t be more pleased to be a part of this exciting project,” said Christopher Davis, Managing Principal of FrontRange Capital.
The five-story building is designed by ICON Architecture to embrace the aesthetic of Watertown through the inspiration of design elements inspired by the surrounding buildings. The Main Street side will include 6,500 square feet of retail space for a future restaurant and service-oriented retail. Additionally, O’Connor Group will work with the local art community to establish public art installations along the art walk where there is a boutique office/gallery space.
Elysian Watertown Square will be built by Dellbrook|JKS. Headquartered in Quincy, MA, the firm boasts more than 20 years of experience in the construction of residential buildings, including projects with Passive House construction standards. Construction of the project is expected to be complete in the Summer of 2026.
“The City’s recently adopted plan for Watertown Square recommended more housing to make the Square a lively destination and support our small businesses. The 104 Main Street development will bring more people into the Square and help us achieve the plan’s vision,” said Watertown city manager George Proakis.
Category Archives: Mortgage News
Thompson Thrift Hosts Ribbon Cutting for 252-Unit The Maddox Luxury Apartment Community in Popular Phoenix Submarket of Buckeye
PHOENIX, AZ – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, hosted a ribbon cutting for The Maddox in the Phoenix suburb of Buckeye on November 14, with Mayor Eric Orsborn in attendance. The first residents began moving into the 252-unit Class A multifamily community in the third quarter of 2024, and Thompson Thrift expects construction to be completed by January 2025.
“Thompson Thrift is well-versed in meeting the needs and desires of Arizona esidents after delivering a variety of luxury multifamily communities throughout the Phoenix area,” said Tamera Greene, vice president of community management, west for Thompson Thrift. “When residents choose The Maddox for their home, they will enjoy distinct features and amenities carefully curated to maximize style, luxury and convenience.”
Located at 23683 W Yuma Rd. near Interstate 10, The Maddox consists of seven, three-story garden style structures with 80 detached garages. The one-, two- and three-bedroom layouts average nearly 1,000 square feet and feature luxury amenities including gourmet kitchens with elegant quartz countertops, timeless tile backsplash, stainless steel appliances, designer fixtures and finishes, Alexa-compatible smart hub to integrate all smart devices, smart thermostat and smart door locks, walk-in closets, full-size washers and dryers, as well as patio, balcony, and private yard options.
At the ribbon cutting, visitors were able to view model tours and preview community amenities such as a professionally decorated clubhouse, resort-style heated swimming pool, 24-hour fitness center, Amazon Package Hub, thoughtfully designed courtyards, grilling stations, outdoor game area, firepits with seating area, a dog park, pet spa with grooming station, pickleball court and more.
In support of Thompson Thrift’s commitment to community outreach, they presented a check to local non-profit Special Olympics Arizona. Special Olympics Arizona has been serving the people of Arizona since 1975, providing year-round sports training and athletic competition in a variety of Olympic-type sports for children and adults with intellectual disabilities. Today they work with more than 21,000 athletes and nearly 25,000 volunteers, striving to create a better world by fostering the acceptance and inclusion of all people.
Thompson Thrift is a full-service real estate development company focused on multifamily, ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. For nearly 40 years, Thompson Thrift has invested more than $6 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive multifamily, commercial and industrial projects.
Shorenstein Celebrates Opening of 158-Unit Willow Apartment and Townhome Community in Portland Submarket of Lake Oswego
PORTLAND, OR – Shorenstein Properties, an owner and operator of high-quality office, residential, and mixed-use properties across the U.S., announced the grand opening of Willow, a brand-new, luxury, 158-unit apartment and townhome community in Lake Oswego, Oregon.
“We are thrilled to unveil Willow, a newly constructed, premier residential apartment community,” said Steve Shanks, Managing Director at Shorenstein. “The property features one-of-a-kind lifestyle-driven amenities, centered around all of the beautiful, unique natural surroundings that Lake Oswego has to offer. We are pleased to officially welcome residents to Willow.”
Located in the tree-lined Lake Forest neighborhood just outside of Portland, Oregon, Willow is a 5-story wood frame community featuring one-, two-, and three-bedroom apartment and townhome units. The property offers residents state-of-the-art, modern in-unit amenities including stainless steel appliances, Herringbone tile backsplashes, in-home washer and dryers, and quartz countertops. Willow features multiple community spaces for residents, such as an open-air skydeck with a fire pit, a sky lounge, flexible dining and workspaces, a community lounge with a TV and fireplace, an outdoor BBQ, and a luxury fitness center with a fresh air deck. The property is managed by Greystar.
“We are excited to welcome residents to Willow and provide them with a top-notch experience,”Stephanie Shaffer, Senior Regional Property Manager at Greystar, said. “This new community is a fantastic addition to Lake Oswego and adds a new option in luxury rental housing to the greater Portland region.”
Mill Creek Announces Groundbreaking of 253-Unit Modera Fort Lee High-Rise Apartment Community on New Jersey’s Gold Coast
FORT LEE, NJ – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera Fort Lee, a contemporary high-rise apartment community located along New Jersey’s Gold Coast.
Modera Fort Lee, which will feature 253 apartment homes, sits just south of the George Washington Bridge overlooking the Hudson River and will feature permanently unobstructed views of the New York City skyline. The community will be built to, and is pursuing, LEED Silver™ Certification. First move-ins are anticipated for November 2026 with a second phase to be developed at a later date.
“With its proximity to New York City and the surrounding employment markets, Fort Lee continues to become a sought-after living destination,” said Maria Masi, senior managing director of development in New Jersey for Mill Creek Residential. “We believe Modera Fort Lee will distinguish itself by providing outstanding amenity spaces and premium interior finishes that enhance the overall living experience for our residents. We look forward to providing a top-of-market experience and will aim to become the preferred choice for the market’s discerning renters.”
Situated at 55 Main Street, Modera Fort Lee features convenient access to key thoroughfares Interstate 95/New Jersey Turnpike and I-80. The community is within a 30-minute commute of Midtown Manhattan, considered the finance capital of the world, and 20 minutes from Yankee Stadium and MetLife Stadium, home of the New York Jets, New York Giants and several large-scale events. Within Fort Lee and the surrounding Bergen County waterfront neighborhoods, future residents will have access to an abundance of dining, retail and entertainment options.
Modera Fort Lee will offer studio, one-, two- and three-bedroom homes with various layouts and an average size of 972 square feet. Community amenities will include a sixth-floor outdoor swimming pool, 18th-floor rooftop deck and sky lounge, grilling area with fire pit and outdoor dining space, resident clubhouse, landscaped courtyards, dedicated dog run and pet spa, game room with shuffleboard and pool table, coffee bar, conference room, coworking spaces, private workstations and a club-quality fitness center featuring cardio equipment, individual TVs, Matrix workout equipment and a yoga/Pilates studio. Residents will also have access to a podcast/TikTok studio, controlled-access parking, EV charging stations, digital package lockers, dedicated bike storage and additional storage options.
Homes will feature two distinct color themes and a variety of refined features, including nine-foot ceilings, oversized windows, wood plank-style flooring, stainless steel appliances, custom cabinetry, quartz countertops, tile backsplashes, pull-down faucets, pendant lighting, built-in desks, in-home washers and dryers, high-efficiency HVAC and in-home water heaters, walk-in closets and private patios or balconies. Smart features will include a key fob system, smart thermostats, controlled-access guest technology and bulk WiFi. Bathrooms will include soaking tubs, backlit mirrors and double vanities.
Quarterra Multifamily Opens 240-Unit Cordelia Luxury Highrise Apartment Community for Leasing in Florida Market of Sarasota
SARASOTA, FL – Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, announced the start of leasing at Cordelia, a luxury high-rise community in Downtown Sarasota, Fla., on Sarasota Bay.
Part of a 14-acre master development, Cordelia includes 240 luxury homes and 13,811 square feet of ground floor retail space. The community sits along a central green space with spectacular views of the bay and exceptional access to downtown. Cordelia will feed off its vibrant and diverse location, combining a unique blend of urban energy and natural beauty for a distinctly upscale Florida living experience.
“Cordelia is designed to capture and complement both downtown and bayside vibes, and offer residents the best of both worlds,” said Cameron Palm, Senior Development Manager with Quarterra. “From the community’s exquisite large balconies with waterfront views and top-flight amenities package to the seemingly endless dining and entertainment opportunities, residents will find themselves in an ideal place to live their best lives. It’s exciting to reach this milestone in the property’s development and stride one step closer to welcoming residents home.”
Situated at 468 Quay Commons, Cordelia positions residents within easy reach of a myriad of downtown dining destinations. Hot spots include: 1592 Wood Fired Kitchen & Cocktails, Boca, The Breakfast House, Café Epicure, Caragiulos, C’est La Vie, Drunken Poet, Duval’s, Indigenous, Jack Dusty, Lila, Made, Mattison’s City Grille, Mediterraneo, Owen’s Fish Camp, II Panificio, Pho Cali, Sage, Selva, Siegfried’s Restaurant, and State Street Eating House + Cocktails. Ocean Prime is slated to open later this year giving residents another high-end restaurant experience.
Residents will also find themselves in close proximity to shopping at Main Street, St. Armands Circle and The Mall at University Town Center, as well as the Sarasota Farmers Market. Entertainment venues, including Van Wezel Performing Arts Hall, Sarasota Opera House, Sarasota Orchestra, The Belle Haven, The Florida Studio Theatre, The Asolo Repertory Theatre, IMG Sports Complex, Robarts Arena, Ed Smith Stadium, The Bay Park and The John and Mable Ringling Museum are also nearby.
Cordelia is positioned along Tamiami Trail and adjacent to Fruitville Road, providing simple connectivity to the rest of Sarasota and surrounding municipalities. SCAT bus service and Bay Runner trolley are both easily accessible from the property, creating easy commutes to regional employers like Bealls, Tropicana, PGT Industries and Sarasota Memorial Healthcare. A newly designed trail system skirts the perimeter of the community, accessing the bay, beaches and parks. A seven-floor above/below ground parking garage, featuring several EV charging stations, will accommodate resident vehicles.
Cordelia consists of studio, one-, two- and three-bedroom apartment homes. Homes range from 558 to 1,480 square feet and are highlighted by floor-to-ceiling windows, designer pendant and sconce lighting and ceramic tile flooring in living spaces. Kitchens showcase under-cabinet lighting, stainless steel appliances, shaker cabinets, quartz countertops, islands, tile backsplashes and wine fridges. Bathrooms include oversized tubs and walk-in showers.
All residents have access to a picturesque rooftop pool, sky terrace and sun deck with outdoor bar, grill stations, fireplaces and lounge areas. Other amenity highlights include a catering kitchen, flex fitness studio, yoga studio, pet spa, maker space, co-working spaces, private dining area, wine lounge with tasting room, and gaming room with golf simulator.
Knightvest Capital Expands Presence in Central Texas with Acquisition of 308-Unit Apartment Community in Northeast San Antonio Market
SAN ANTONIO, TX – Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of Arya Grove Apartments in Northeast San Antonio. With this acquisition, Knightvest now has an established portfolio of six assets in San Antonio. The close of Arya Grove Apartments represents the third acquisition in Knightvest s Fund II. Knightvest has established a steady acquisitions pipeline for its second fund and has additional acquisitions planned to close near year-end and early 2025.
Originally built in 2006, the 308-unit property is situated along the outer Loop 1604 in the rapidly growing Live Oak and Universal City areas. Knightvest has extensive experience operating in this submarket, having renovated and operated a comparable community within 2 miles of Arya Grove. Knightvest plans to renovate the apartment units in addition to making enhancements to the common areas and amenities of the property. As part of the renovation, Knightvest will rename the community to Sagebrush Apartments.
We re increasingly optimistic about the overall market right now, and this marks our second acquisition in the past month as we continue to execute our strategy of investing in multifamily communities from the 2000 s and renovating them to a level that would be comparable to new construction, said David Moore, Knightvest founder and CEO. The proximity to a successful project nearby, combined with the impressive regional growth trends, made this opportunity initially intriguing, and we re excited to expand our growing portfolio across Central Texas with the addition of Sagebrush Apartments.
The Northeast San Antonio submarket offers a unique opportunity, as the region has experienced rapid growth with less multifamily construction compared to neighboring Northwest and Far North San Antonio. Additionally, the proximity of Sagebrush Apartments to the major highway interchange of I-35 and Loop 1604, makes it well-positioned to benefit from ongoing growth between Austin and San Antonio, contributing to the larger Texas Triangle s expansion. Over the past four years, San Antonio alone has seen an influx of 40,000 new residents annually, underscoring the region s attractiveness and Knightvest s confidence in the long-term potential of the area.
Turner Impact Capital Enters Denver Market with Acquisition of Two Workforce Housing Communities to Address Affordability Crisis
DENVER, CO – Turner Impact Capital, one of the nation s largest real estate investment firms dedicated to social impact, has expanded into the Denver metropolitan area with the acquisition of two multifamily housing communities as part of its commitment to address the country s urgent housing affordability crisis with an innovative, market-driven solution.
The 165-unit Silverbrook and 188-unit Canterra at Fitzsimons communities in Aurora are the latest investments by the newly launched Turner Multifamily Impact Fund III (TMIF III). The Fund now owns 836 units of high-quality workforce housing, following recent acquisitions in Las Vegas and Minneapolis, with more acquisitions to come. TMIF III is on course to raise up to $750 million of equity, unlocking more than $2.3 billion in investment potential to acquire existing, or develop new, affordable workforce housing communities in high-demand markets.
TMIF III is building upon the success of Turner Impact Capital s two previous housing funds, which together parlayed more than $650 million of equity into the preservation and enrichment of approximately $2 billion of housing for low- to moderate-income families while generating positive environmental impact and strong risk-adjusted returns for the firm s institutional investors. The Funds acquired, preserved, and enriched approximately 14,000 units in markets such as Chicago, Dallas, Las Vegas, Seattle, Austin, Washington, D.C., and more.
Amid continuing hardship for working families, we are accelerating our efforts to preserve access to high-quality affordable housing in major metropolitan areas, Turner Impact Capital CEO Bobby Turner said. We are delighted to bring our successful market-driven model to the dynamic Denver area for the first time through these new investments by Turner Multifamily Impact Fund III.
Both Aurora properties meet the Fund s criteria of providing affordable workforce housing in diverse, densely populated areas near job centers. Tenants generally earn up to 80% of Area Median Income, and include community-serving professionals such as teachers, police officers, healthcare workers and others who often earn too much to qualify for subsidized housing but struggle to afford higher-cost housing located near job centers. Turner Impact will soon offer tailored enrichment programs in areas such as education, health, and safety to enhance residents quality of life and satisfaction.
Silverbrook is a seven-acre garden-style community consisting of nine three-story residential buildings with 165 one- and two-bedroom apartments, a community swimming pool, outdoor grilling area, basketball court, and fitness center. Canterra at Fitzsimons is also a garden-style community whose two 12-story residential buildings have 188 one- and two-bedroom units. The 7.5-acre site includes a community swimming pool, resident clubhouse, outdoors barbeque spaces, and covered parking.
The properties are located in central Aurora, the third-largest city in Colorado, conveniently located 10 miles southeast of downtown Denver. The vibrant Denver-Aurora-Lakewood metropolitan area has one of the strongest job markets in the United States, and the two new Turner Impact communities are close to major employers such as Amazon, Denver International Airport, HealthOne, and telecommunications firm Century Link.
We look forward to serving our Aurora residents as we extend our impact to a new market where job growth and high demand for housing threaten to price working families out of homes near their workplace, said Gary Rodney, Managing Director of Turner Impact s Multifamily Housing Initiatives. Our model has a long track record of success delivering positive social and environmental benefits to our residents and the community.
Housing initiatives are a central feature of Turner Impact Capital s holistic, award-winning approach to impact investing in housing and two interrelated societal challenges: public education and community-based healthcare. The firm has raised over $1.9 billion in commitments since it was founded in 2014, putting it on course to surpass $5.7 billion in investment potential since inception. By harnessing market forces, Turner Impact offers durable solutions to improve lives and strengthen communities while delivering strong risk-adjusted financial returns for investors.
Technology Innovator Kerry W. Kirby Joins Speaker Lineup for Two Separate Sessions at Multifamily Innovation & AI Summit in Phoenix
NEW ORLEANS, LA – 365 Connect, the leader in providing the most advanced automated marketing, leasing, and resident engagement platform for multifamily communities across the globe, announced today the company’s CEO, Kerry W. Kirby, will speak at the Multifamily Innovation & AI Summit. The event, catering exclusively to multifamily professionals, runs from December 4 – 5, 2024 in Phoenix, Arizona.
Launched by the founders of Multifamily Leadership, Patrick and Carrie Antrim, the Multifamily Innovation & AI Summit will feature important, relevant discussions conducted by leading experts from various fields within the industry. It has become a must-attend event for owners, operators, and corporate executives. The vision of the summit is to create an enriching environment where multifamily professionals can obtain the tools, strategies, and insights needed to drive their company’s growth in today’s fast-paced world.
Kirby will be speaking at multiple sessions, the first being held on December 4th at the nectarflow Innovation & AI Lab. Kirby will be joined by James W. Lancaster, Chief Product Officer at 365 Connect, the duo will lead two separate sessions to discuss the challenges and opportunities centered on the use of APIs in the multifamily housing industry. On December 5th, Kirby will participate in a distinguished panel to discuss, “Beyond the Numbers: Harnessing Technology and People to Future-Proof Real Estate Investments.” The conversation will delve into how digital transformation can drive the creation of a resilient and forward-thinking business model.
“We are honored to welcome Kerry back to our stage at this year’s Multifamily Innovation & AI Summit,” said Patrick Antrim, CEO of Multifamily Leadership. “Kerry is not just an accomplished entrepreneur and innovator, but a true trailblazer shaping the future of our industry. With an exceptional talent for challenging the status quo and driving meaningful change, he is a transformative leader and an influential voice across the technological landscape.”
Kirby, founder and CEO of 365 Connect, is a visionary technologist whose unrivaled ingenuity is revolutionizing the multifamily housing industry. Over the past two decades, he has transformed 365 Connect from a bootstrapped startup into an award-winning proptech leader. Renowned for his unparalleled contributions to technology and innovation, Kirby has earned numerous global accolades, solidifying his reputation as one of the industry’s most influential changemakers.
“Multifamily housing operators are rapidly advancing the transformation of their workflows to streamline cost structures,” said Kirby. “Our industry must understand the commitment needed to drive innovation and reimagine business models that can thrive in today’s dynamic economic environment. I’m thrilled to share my insights at the premier thought-leadership platform in our field, the Multifamily Innovation & AI Summit.”
BRIDGE Housing Completes Acquisition of 340-Unit Bethany Meadows Affordable Housing Community in Portland Metro Market
PORTLAND, OR – BRIDGE Housing acquired an affordable housing community outside of Beaverton, Oregon, preserving 340 apartments that soon face a potential transition to market-rate rents as low-income housing for the long term.
Bethany Meadows consists of income-restricted one- and two-bedroom apartments for households earning 60% of Area Median Income in a growing community near Beaverton, in the Portland Metro Area. Affordability restrictions on the units had been set to expire in 2-3 years.
The acquisition marks the latest investment by BRIDGE Housing to preserve the long-term affordability of housing in communities throughout the West Coast. Preservation is an increasingly important affordable housing strategy as low-income covenants established decades ago are set to expire on thousands of properties.
BRIDGE Housing, the leading nonprofit affordable housing developer and manager on the West Coast, is a mission-driven organization seeking to increase access to affordable housing in a region that is home to some of the costliest housing markets in the United States.
BRIDGE s portfolio exceeds 13,600 units across more than 130 properties in California, Washington and Oregon with a total development cost of more than $3.5 billion. More than 30,000 people live in BRIDGE communities from San Diego to Seattle.
By permanently preserving the affordability of Bethany Meadows, we are advancing our mission and benefiting hundreds of families in a meaningful way for years to come, said Ken Lombard, BRIDGE Housing President and CEO. We are actively pursuing many development and preservation opportunities, with the goal of allowing more residents to enjoy the dignity of a home they can afford. If you own a property with affordability covenants that are nearing expiration, we want to hear from you.
Bethany Meadows is a garden-style complex, with two- to three-story buildings across two separate phases. Phase I, built in 1997, has 208 units. Phase II, built in 1998, has 132 units. BRIDGE purchased both phases, as well as 577 surface parking spaces. The adjacent properties are located in a prime neighborhood close to job centers, public transit, and high-performing public schools. Amenities include a clubroom, fitness center, pool, and spa.
BRIDGE Housing s investment was supported by an innovative financing arrangement with Morgan Stanley and National Equity Fund that provides a $250 million revolving credit facility, enabling BRIDGE to move quickly to acquire and preserve affordable housing. By using private equity and debt, the strategy reduces the time and complexity of traditional affordable housing finance, in which multiple partners must apply for government tax credits.
Since 1983, BRIDGE has been an innovative leader in affordable housing on the West Coast by creating strong communities, improving residents lives, and delivering positive social impact. BRIDGE is currently accelerating its growth plans, harnessing both ground-up development and opportunistic acquisitions to significantly extend its reach. More than 10,800 affordable apartments are in the development pipeline, and additional acquisitions are planned over the coming weeks to permanently preserve more affordable units in high-cost regions.
Our talented BRIDGE team and our many partners are making tremendous strides in delivering affordable housing efficiently and sustainably, along with high-impact resident services, said Executive Vice President Sierra Atilano, BRIDGE s Head of Development. We are accelerating our work in both development and acquisition as we seek to significantly expand our portfolio in the West. We are excited to continue accelerating our work at scale to make a meaningful, lasting difference for families and communities.”
The NRP Group and Capital Area Housing Finance Open 330-Unit Centro35 Affordable Housing Community in Central Texas Market
SAN MARCOS, TX – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with the Capital Area Housing Finance Corporation (CAHFC), announced the opening of Centro35, a 330-unit affordable housing community in San Marcos, Texas. The development provides high-quality, amenity-rich housing to residents earning up to 60 percent of the Area Median Income (AMI).
San Marcos is at the heart of one of the nation s fastest-growing corridors, and we recognize Central Texas as a critical area for investment, said Max Whipple, Vice President of Development at The NRP Group. Centro35 reflects our commitment to addressing the area s affordable housing needs while providing residents convenient access to job markets along I-35.
Located at 508 Labrador Boulevard, just off the central I-35 corridor, this development offers convenient access north to Austin and south to San Antonio. Within a ten-mile radius are major employment hubs in San Marcos, including the Amazon Fulfillment Center, Texas State University, and one of the largest Tanger Outlet Malls, providing residents with ample nearby job opportunities.
Centro35 is a testament to our mission to provide quality affordable housing for working families and young professionals in San Marcos, said Jim Shaw, Executive Director at Capital Area Housing Finance Corporation (CAHFC). With this project marking our fifth partnership with The NRP Group, we re proud to play a pivotal role in fostering vibrant communities where residents have access to comfortable, affordable homes that meet their needs.
Centro35 will accommodate both working professionals and growing families, with floorplans that include one-to-four-bedroom units. In partnership with the nonprofit Community Housing Resource Partners, Centro35 has a dedicated activity room to host resident services such as health screenings, after-school programming, financial literacy training, a first-time homebuyer program, English as a Second Languages courses and more.
The development will feature best-in-class amenities including a resort-style swimming pool, 24-hour fitness center, and conference center with individual work pods for remote work. Additionally, family-friendly amenity spaces will include a children s activity room and a game room.
As San Marcos continues to grow, it is essential that we provide affordable housing options for all members of our community, said Hays County Commissioner Debbie Gonzales Ingalsbe. Centro35 offers more than just housing—it delivers vital services and amenities like family-friendly gathering spaces, ensuring residents have everything they need right at their fingertips. Developments like this strengthen our community by further fostering a thriving community.
This fully affordable housing community was financed with tax credit equity from Huntington Community Development Corporation and permanent financing provided by Bellwether Enterprises and Deutsche Bank.
The NRP Group has developed more than 30,000 units in Texas. Centro35 is the company s third development in the City of San Marcos, comprising nearly 1,000 units.