BRUNSWICK, GA – Material Capital Partners, a real estate development and investment management firm based in Charleston, SC, announced it has closed the project financing for River Ford, a 170-unit rental home community in Brunswick, Georgia.
River Ford is located on 28 acres at Canal Road, approximately 15 minutes from downtown Brunswick and St. Simons Island. The new development will consist of 170 detached single-family homes and a host of amenities including a clubhouse with fitness center, co-working space and a resort-style pool, two large central lakes with a fishing dock, large bark park, playgrounds, extensive trail system and a network of pocket parks and green spaces. Site work started earlier in the year and vertical construction is expected to begin in February 2025.
Brunswick, a vibrant coastal city located between Savannah, Georgia and Jacksonville, Florida, offers a unique blend of coastal beauty and modern amenities. Just minutes from the picturesque beaches of the Golden Isles, named the best U.S. islands by Travel + Leisure, Brunswick is known for its rich history, distinctive cuisine, and Southern hospitality. The city features historic squares, a charming downtown with boutique shops, fine dining, art galleries, nineteenth-century Victorian-style homes, and expansive views of golden marshes.
Brunswick is home to the Port of Brunswick, the nation’s second-busiest port for automobiles and heavy machinery. Following continued record growth, the Georgia Ports Authority is fast-tracking over $500 million in capacity expansion projects at the port, which will triple its capacity to approximately 1.4 million vehicles per year. This expansion is designed to support the growing electric vehicle manufacturing ecosystem across the Southeast and is expected to propel the Port of Brunswick past Baltimore to become the top U.S. automobile port by 2026.
The demand for housing in Brunswick has far outpaced the available supply and River Ford will provide a high-quality housing option in this thriving coastal community. This latest MCP build-for-rent community will offer the amenities and comforts of a single-family home lifestyle with the conveniences and flexibility associated with rental home living and professional property management. It is targeted at residents who choose to rent based on privacy, flexibility, work proximity and value premium amenities in a professionally managed community.
“We are excited to bring River Ford to Brunswick,” said Alex Chalmers, founder and managing partner of Material Capital Partners. “Our community will provide a differentiated community experience and offer residents a unique lifestyle that combines the convenience of a rental with the feel of a desirable neighborhood. It is well-positioned to capitalize on the strong growth trends in Brunswick.”
River Ford will be managed by Greystar with pre-leasing scheduled to begin in Spring 2025. Project financing was provided by Bluerock, Stanton Road Capital and MCP’s institutional construction lender. Construction will be handled by MCP’s dedicated builder partner Winchester Commercial Group.

FAIRFAX, VA – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on the Residences at Government Center II during a ceremony with LAC leaders, local lawmakers and partners, including Virginia Housing, the Virginia Department of Housing and Community Development, the Fairfax County Redevelopment and Housing Authority (FCRHA) and Capital One.
The Residences at Government Center II will provide 279 high-quality, affordable homes for families in the Braddock District. Upon completion, this community will also feature a daycare center, providing a safe and convenient childcare option for residents.
U.S. Representative Gerry Connolly, who represents Virginia’s 11th District in Congress, spoke at the groundbreaking ceremony. Other speakers included Nick Bracco, Vice President, Lincoln Avenue Communities Lenore Stanton, Chair, Fairfax County Redevelopment and Housing Authority, Jeffrey C. McKay, Chairman, Fairfax County Board of Supervisors James Walkinshaw, Braddock District Supervisor, Fairfax County Board of Supervisors; and Kerrie Wilson, CEO, Cornerstones.
“Throughout my career, creating and preserving affordable housing has been a key priority. As a Congressman and the former Chair of the Fairfax County Board of Supervisors, I am thrilled to be a part of this innovative use of land to further the creation of affordable housing in our community,” said Rep. Connolly.
“Lincoln Avenue Communities is proud to begin construction on the Residences at Government Center II,” said Nick Bracco, Vice President, Lincoln Avenue Communities. “Once completed, this property will offer nearly 300 affordable homes with top-tier amenities to families and individuals in Fairfax County, where new affordable housing is strongly needed.”
“We are proud to welcome new affordable housing right here in our front yard at the Fairfax County Government Center. These new homes will ensure that more people have an equitable shot at building their own future, right here in Fairfax County,” said Jeff McKay, Chairman, Fairfax County Board of Supervisors.
“For years, I’ve felt that we could make better use of the sea of parking in front of the Fairfax County Government Center to help meet our affordable housing goals. I made the motion to convey the property to the FCRHA for that purpose, and today, we are seeing this concept come to fruition,” said James Walkinshaw, Supervisor, Braddock District, Fairfax County Board of Supervisors. “I look forward to welcoming 279 families to their new homes at this innovative complex in the Braddock District.”
“During the 2024 calendar year, we have come together to celebrate affordable housing groundbreakings or grand openings several times. Residences at Government Center II is another testament to our commitment to developing affordable housing in all corners of Fairfax County,” said Lenore Stanton, Chair, Fairfax County Redevelopment and Housing Authority.
“We are pleased to help bring affordable housing to Fairfax, just a short distance away from Capital One’s headquarters. This development builds on our relationship with Lincoln Avenue Communities and the work we have done to expand affordable housing in Fairfax, Miami, New Orleans and Richmond,” said Ed Delany, Senior Director for Community Finance at Capital One. “Capital One provided construction debt, LIHTC equity investments and permanent Freddie Mac loans, including structuring and closing Freddie Mac’s first Forward Bond Credit Enhancement in just 90 days to meet the closing timeline.”
“Residences at Government Center II is a perfect example of taking underutilized land and creating something beautiful to support the community,” said Director, Production Patricia Mao Booker at KTGY. “Our architects carefully designed around the surrounding environment to enhance the pedestrian experience for this mixed-use affordable housing complex. We’re proud to support low-income families in Fairfax with this new, beautifully designed community.”

PORTLAND, OR – Security Properties announced the opening of Splash Apartments, a 219-unit multi-family residential community in Portland’s Kerns neighborhood. The property welcomed its first residents on Oct. 25, 2024, shortly after Time Out recognized Kerns as “America’s Coolest Neighborhood.”
Splash marks the first phase of the Pop Blocks, a master-planned development at the historic site of the former Pepsi Distribution Center. Situated at 875 NE 27th Ave. along Sandy Boulevard, the community is just steps from some of Portland’ most beloved restaurants, breweries, parks, and shops – making it an ideal choice for connected urban living.
“We’re thrilled to be bringing this exciting community to the Kern’s neighborhood after years of planning and construction,” said Sarah Zahn, Senior Director of Development. “With the completion of the public plaza on NE Sandy, we hope Portlanders stop by and join us in welcoming residents to Splash Apartments.”
The property offers multiple unit types to suit a variety of lifestyles, including two-story townhomes, live / workspaces, studios, urban one-bedrooms, and expansive layouts such as one-bedrooms with a den, two-bedrooms, and three-bedrooms. Each residence is thoughtfully designed with chef-inspired kitchens, modern finishes, and energy efficient heating and cooling. The secured underground parking garage offers 194 total spaces with 40 type II electric vehicle charging stations.
Community amenities feature a rooftop lounge with sweeping views, outdoor terraces equipped with BBQs, coworking spaces, secure bike storage, and a pet spa with grooming stations. A highlight of the development is the thoughtful integration of art throughout the public spaces. Splash’s vibrant public plaza is graced by water features, ample seating, and the striking 20-foot-tall namesake sculpture, “Splash,” created by internationally renowned artist Michael Benisty.

NORTH SAINT PAUL, MN – The North St. Paul community celebrated the grand opening of the highly anticipated Article No. 7 apartment building, a new residential development that promises to transform the housing landscape in North Saint Paul. Developed by Tareen Development Partners, the building marks a significant milestone in the city’s ongoing efforts to promote high-quality housing options for residents.
The grand opening event attracted local officials, community members, builders, architects, designers, and stakeholders, all eager to witness the unveiling of this state-of-the-art apartment complex. Mayor John Monge and City Council members expressed their enthusiasm and support for the project, highlighting its potential to enhance the community’s vibrancy and livability.
“Article No. 7 represents our commitment to providing modern and comfortable housing solutions for local residents,” said Basir Tareen, Owner of Tareen Development Partners. “We are proud to partner with the city of North Saint Paul to bring this vision to life, and we look forward to its positive impact on the community.”
Bauer Construction was a vital partner in the project, ensuring that the development was completed with the highest quality standards. Momentum Design Group collaborated closely with Tareen Development Partners to design a building that not only meets the needs of future residents but also fits seamlessly into the historic character of North Saint Paul.
The Article No. 7 apartment building features a range of amenities, including spacious living units with high ceilings and modern design, community gathering spaces, and environmentally friendly design elements that promote sustainable living. The complex offers unique “live-work units” along with a variety of floor plans for studio, one-bedroom, and two-bedroom apartments. This development is set to attract a diverse group of residents, contributing to the economic growth in the area.
As North Saint Paul continues to grow and evolve, the Article No. 7 apartment building stands as a beacon of progress. It offers residents a new-era style of living while fostering a sense of community in the historic area just down the street from the well-known Mac’s Diner and next to the local post office.

PHOENIX, AZ – National multifamily developer Wood Partners has expanded its footprint in Phoenix with the opening of two new properties, Alta Avondale and Alta Rise. These multifamily developments will bring more than 630 units to the fifth-largest metro in the country.
“The Phoenix metro’s rapid growth presents a unique opportunity for Wood Partners to play an active role in supporting the city’s expansion,” said Todd Taylor, Managing Director at Wood Partners. “We’re committed to delivering thoughtfully designed, amenity-rich properties that enhance the quality of life for our residents and contribute to the continued success of the greater Phoenix community.”
Alta Avondale is a 360-unit project on 14 acres of land located in The BLVD in Avondale, a vibrant mixed-use destination offering an array of eateries, entertainment, shopping and recreation. The three- and four-story complex sits just south of Interstate 10, allowing easy access across both the West Valley and metro Phoenix. Alta Avondale is also minutes from State Farm Stadium, Desert Diamond Casino and the Westgate Entertainment District. In addition to the neighborhood offerings, the apartment community features a state-of-the-art fitness center, a speakeasy, a pickleball court, co-working spaces with private offices, private garages, a dog park and a skydeck with mountain views. Alta Avondale includes a mix of studio, one-, two- and three-bedroom apartment layouts and is expected to be fully completed in January 2025. The community features white quartz countertops, stainless Whirpool appliances, Moen plumbing fixtures, and is now leasing with over 200 units available.
Alta Rise includes 278 units across two four-story and two three-story buildings featuring a mix of studio, one-, two- and three-bedroom apartment layouts. The multifamily complex is located on the corner of Elliot and McQueen in the northwest corner of the Town of Gilbert, less than 10 minutes from both downtown Gilbert and downtown Chandler. Additionally, the property sits five minutes south of US-60 and less than ten minutes east of Loop 101, offering direct access to the Southeast Valley and metro Phoenix. Alta Rise features a state-of-the-art fitness center, a speakeasy, a skydeck, two pickleball courts, coworking spaces, storage units, private garages, a multipurpose field, a food truck courtyard, a dog park and a pet spa. The luxury development also has a clubhouse for residents, including a large pool and hot tub, secondary courtyards with barbecues, fire pits, games, hammocks and micro fitness rooms for increased privacy. Residents will find white quartz countertops, stainless GE appliances, gas ranges and wine fridges in select units. The development is expected to be completed in early 2025.
Earlier this year Wood Partners announced the start of construction on Alta Dove Valley, a 380-unit multifamily building located across the interstate from the Taiwan Semiconductor Manufacturing Company’s new $65 billion semiconductor fabrication facility in North Phoenix. Additionally, Wood Partners broke ground on Alta 87 in March. The 257-unit luxury multifamily development is located in Gilbert and features a pool and spa, a two-story clubhouse, two pickleball courts and more.

NEW YORK, NY – Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, announced the acquisition of a 22-property portfolio comprising 4,768 units across the western United States. With this acquisition, the properties transition to HVPG ownership, seeking to ensure residents benefit from the high standards of living and affordability displayed across the firm’s entire portfolio.
The portfolio acquired includes properties in four western states thirteen in Washington, seven in Colorado, one in California and one in Idaho – concentrated significantly in the Denver, Seattle, and Spokane metro areas. The properties are subject to low-income housing tax credit (LIHTC) rent restrictions and tenants must be income qualified earning no more than 60% of area median income (AMI).
HVPG plans to make physical improvements and implement the firm’s Community Enhancement Program across the 22 properties. This initiative aims to foster vibrant, responsible and safe communities through site-specific emergency plans, active collaboration with local police departments and enhanced, high-definition monitoring systems providing sitewide coverage.
HVPG’s commitment to preservation extends beyond physical improvements to preserving affordability amidst rising market rates. HVPG has entered partnerships with local Housing Authorities, such as the Washington State Housing Finance Commission and Colorado Housing and Finance Authority, and other nonprofit organizations, such as Hearthstone Housing Foundation and Horizon Housing Alliance, to pursue improvements to safety and quality of life and seek to ensure long-term affordability for residents. HVPG will look to maintain and/or expand resident services programming and amenities at the sites as they’ve done across their existing portfolio.
HVPG acquired the portfolio from Inland Group in a joint venture partnership with Wheelock Street Capital, a private real estate investment firm with offices in Greenwich, CT, Boston, and Los Angeles. Wheelock provided the majority of the equity capital out of its Long Term Value Fund. Goldman Sachs served as financial advisor to the seller, and Newmark served as the broker.
“The acquisition of these properties represents a landmark achievement for our firm, expanding our reach to 87 communities with 15,414 units across the Northeast, Midwest, Mid-Atlantic, Southeast and West,” said Jason Bordainick, co-founder and managing partner of Hudson Valley Property Group. “Our strong relationships with community stakeholders, built on trust and collaboration, along with our deep industry expertise, have been the cornerstone of our efforts to preserve and elevate the nation’s affordable housing stock. We remain focused on our mission to make investments that both improve the performance of the assets and enhance the quality of life for our residents.”
“The acquisition is Wheelock’s second partnership with HVPG and first investment in affordable housing out of the Wheelock Street Long Term Value Fund permanent capital vehicle,” said Jeffrey Laliberte, partner and head of acquisitions for Wheelock Street Capital. “Wheelock’s stable capital will aid in preserving the long-term rental affordability for the residents of the 22 properties.”
HVPG has expanded to the Midwest and now the West, while increasing its footprint in the Mid-Atlantic and Southeast. HVPG’s portfolio spans 12 states, attempting to further the firm’s mission of addressing the nation’s housing shortage by providing affordable, sustainable community assets that residents are proud to call home.

ROXBURY, MA – The NHP Foundation celebrated the grand reopening of Blue Mountain Apartments with a ribbon-cutting ceremony late last month. The revitalization of this historic Section 8 family property, located in Roxbury, MA, showcases NHPF’s commitment to preserving affordable housing in a gentrifying neighborhood and supporting very low-income families, including larger households that require spacious three, four, and five-bedroom units.
The Blue Mountain Apartments redevelopment is a landmark effort in affordable housing preservation, featuring the rehabilitation of 217 multifamily units across 19 buildings originally constructed between 1910 and 1930.
“NHPF recognized the urgency of saving these Section 8 homes in this growing neighborhood,” said Mecky Adnani, lead developer for Blue Mountain, “We took action and embarked on an acquisition and long-term preservation initiative to restore the property’s physical and historic integrity and provide newly renovated apartments for existing residents.”
The $112 Million refinance which included tax-exempt bonds, Low-Income Housing Tax Credits (LIHTC), a Risk Share loan, and federal and state historic tax credits, underscores the complexity and dedication required to preserve affordable housing for future generations.
Among the distinguished speakers at the event were Mark Teden, Vice President of Multifamily Programs, MassHousing who said, “MassHousing’s success in preserving affordable housing is exemplified by our work with NHPF on Blue Mountain Apartments, and we extend our gratitude to our joint venture lenders and development team for their commitment to creating quality housing for lower-income seniors and families.”
Additional speakers included Karen Kelleher, President, Loan Fund, Blue Hub, and Costas Paleologos, Senior Vice President, PNC Multifamily Capital, PNC Bank. Finally, Shirley Clark, a resident of Blue Mountain Apartments also shared personal remarks on how the revitalized community impacts her family.

DALLAS, TX – Leading multifamily developer Wood Partners announced the grand opening of Alta Park Central, a 297-unit, five-story multifamily community in North Dallas. The amenity-rich community is located near Medical City Dallas Hospital and the 17-mile White Rock Creek Trail.
“Location and accessibility are key factors potential residents are considering when choosing their homes,” said Matt Miller, Vice President of Development at Wood Partners. “The nearby Medical Center Dallas Hospital employs nearly 3,000 employees and the Dallas CBD, Dallas North Tollway, and Cityline employment hubs are just minutes away. With its trail connectivity and access to plenty of restaurants and retailers also a short distance away, Alta Park Central is an ideal living option for healthcare professionals and beyond.”
Alta Park Central features a mix of studio, one- and two-bedroom units. The luxury apartments have chef-style kitchens with granite countertops, stainless steel appliances, upgraded cabinets and fixtures, wood-style flooring and washers and dryers. Smart lock entry doors, USB outlets and Wi-Fi programmable thermostats are also included.
The community clubhouse at Alta Park Central features a state-of-the-art fitness facility with both Precor and CrossFit training equipment as well as yoga and spin capabilities. A resort swimming pool with a wraparound sun deck and plush seating is available for residents and guests, along with a large club space for social gatherings. Hybrid and remote workers can utilize the business center with conference areas and private micro-office workspaces. Complementing its location near the White Rock Creek Trail, the property includes a dog park and dog spa – perfect for residents’ furry companions. A Sky Lounge with beautiful neighborhood views is located on the fifth floor.
Wood Partners continues to expand its presence across Texas. With 23 multifamily communities currently in its Texas portfolio, Wood Partners remains very active in the state.

KNOXVILLE, TN – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced the topping out of Livano Knoxville, a 348-unit, Class A multifamily community development located within a qualified opportunity zone in Knoxville, Tennessee. The project, which is being developed in partnership with LIV Development, broke ground in June 2023 with first move-ins anticipated in spring 2025.
“Livano Knoxville is Capital Square’s eighth opportunity zone fund. By investing in the fund, investors are able to defer and exclude their capital gains from the sale of any asset,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “By creating jobs and tax revenue, Livano Knoxville is satisfying the legislative intent of the opportunity zone legislation in addition to providing much needed housing.”
Located at 451 W. Blount Ave., just south of the Tennessee River and adjacent to the University of Tennessee’s Neyland Stadium, Livano Knoxville will include studio, one-, two- and three-bedroom apartment homes averaging approximately 930 square feet. The property features 35 workforce housing units for residents who earn up to 80% of the area’s annual medium family income level.
Residents will have access to major employers, including the U.S. Department of Energy Oak Ridge National Laboratory, Covenant Health, the University of Tennessee, Tennessee Valley Authority, Knox County Schools, University Health System, The Dollywood Company, Clayton Homes, DENSO Corporation, Tennova Healthcare and Blount Memorial Hospital.
“Amidst the challenges for financing and construction costs that have hindered developments nationwide, Capital Square and LIV Development have been able to continue to carry out the development timeline for Livano Knoxville,” said Whitson Huffman, co-chief executive officer. “We are pleased to have reached this important milestone on this project that will deliver a luxury multifamily community to medium income residents of Tennessee’s third largest city.”
The development’s project team includes Niles Bolton Associates, Inc. as building architect, Design South Interiors as interior designer and Southern Building Group as general contractor.
Development of Livano Knoxville has been funded in part by Capital Square’s eighth qualified opportunity zone fund, CSRA Opportunity Zone Fund VIII, LLC. According to an economic impact study recently completed by FTI Consulting, construction of Livano Knoxville has generated significant economic and fiscal impacts on the surrounding community, including the creation of 634 new jobs. In turn, the development has generated $2.9 million in annual state and local tax revenue during construction and is projected to deliver $1.1 million in annual state and local tax revenue through building operations.

PEARLAND, TX – Venterra Realty recently acquired The Townhomes at Lake Park community located in Pearland, Texas. The 247-unit garden-style multi-family community is well located in Pearland, Texas, a suburb of South Houston.
Venterra has a long track record in Pearland, having managed St. Andrews Apartments dating back to 2012. This city is also the site of its current development project, The Delta Pearland, which will open in early 2025. Pearland is an affluent area located approximately 10 miles south of the Texas Medical Center and is known for having an excellent school district.
The property consists of multi-level townhome-style apartment homes, all with ground-floor access and most with attached garages. All apartment homes feature modern finishes including stainless steel appliances, granite countertops, full-size washers and dryers, and oversized closets. Residents at The Townhomes at Lake Park can enjoy resort-style amenities including a sparkling pool with a poolside grilling area, a 24/7 fitness center and direct access to Clear Creek Trails.
Venterra will implement its resident-focused programs such as the Live it. Love it. Guarantee., the 48-Hour Maintenance Guarantee, and SMARTLEASING.”
We have seen excellent growth in the Pearland market and are excited to expand our Texas portfolio in Pearland with the addition of The Townhomes at Lake Park,” said John Foresi, CEO of Venterra Realty. “Venterra has become known as a company that is committed to providing a market-leading living experience, and we look forward to identifying opportunities to further enhance the standard of living at The Townhomes at Lake Park by implementing Venterra’s customer-focused management platform,” added Venterra Chairman, Andrew Stewart.