BOULDER, CO – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced that it will develop Heritage on Hover, a 324-unit Class A multifamily community in the Boulder suburb of Longmont. Construction is expected to be completed in winter 2026.
“Longmont and the surrounding Boulder area have become a magnet for growth, attracting a thriving population and some of the nation’s fastest-growing private companies,” said Josh Purvis, managing partner for Thompson Thrift Residential. “With a strong economy, low unemployment, and a highly educated workforce, the demand for quality housing options continues to rise. Heritage on Hover will deliver a modern and luxurious rental experience, providing residents with the style, comfort, and convenience that Thompson Thrift communities are known for.”
Located near the intersection of Mountain Brook Dr. and S Hover St., Heritage on Hover will feature three-story buildings with one-, two- and three-bedroom layouts averaging nearly 1,000 square feet. Thompson Thrift apartment homes include premium interior finishes, including quartz countertops, stainless steel appliances, side-by-side refrigerators, full-size washers and dryers, large walk-in closets and multiple smart home capabilities. Additionally, select homes will feature cabinetry with soft-close doors, a deluxe closet system with shelving, premium lighting, a dry bar and advanced smart home capabilities. Private patios, balconies, yards and detached garage options will also be available.
Resort-style living will continue throughout the community with signature amenities, including an outdoor entertainment kitchen and grilling areas, a fully equipped 24-hour fitness center, a resort-style heated swimming pool and spa, electric firepits with seating areas, a billiards and shuffleboard area, a dog park, bike storage and a Starbucks™ coffee bar. Residents working from home will enjoy the convenience of focus suites and community-wide Wi-Fi. An on-site service team, valet trash service and a user-friendly mobile app will also be available.
Heritage on Hover will provide residents with walkable access to a Target-anchored retail center and presents a great opportunity for workforce travel via nearby I-25 to employment hubs in Boulder, Fort Collins and Denver.
According to a recent Smart Asset ranking, Longmont was ranked the #1 “Boomtown in America.” Boulder County, where Longmont is located, is one of the most educated counties in the country and is home to several advanced technology companies that specialize in cutting-edge research and development. Companies like IBM, Google, Microsoft, Oracle, Intel, Seagate, Xilinx, Lockheed Martin, Ball Aerospace, Sierra Nevada, and others populate the regional landscape.
Equity for the development was provided by Thompson Thrift 2024 Multifamily Development Fund, LP.
Thompson Thrift has been active in Colorado for 11 years and has developed over 4,700 units in the state, which currently includes 11 communities between Fort Collins and Colorado Springs.
Thompson Thrift is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. Since its founding nearly 40 years ago, 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 and commercial communities.

CLARKSVILLE, TN – Hamilton Zanze, a leading San Francisco-based multifamily real estate investment firm, announced it has sponsored the purchase of Reserve at Kirkwood, a 264-home garden-style apartment community in Clarksville, Tennessee. The acquisition closed on Dec. 18.
Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the property, which is situated approximately 45 miles northwest of Nashville along the Interstate 24 corridor.
“We are thrilled to announce the sponsored acquisition of our second property in the Clarksville metro area,” said David Nelson, President and Chief Investment Officer at Hamilton Zanze. “With significant investments from LG Chem, Amazon and Hankook Tire in the metro area, coupled with the area’s strong projected population growth, we are confident in the asset’s long-term success.”
Located at 3000 Dalton Smith Court, Reserve at Kirkwood was built in 2022 and offers one-, two- and three-bedroom apartment homes. Homes range in size from 805 to 1,305 square feet and include stainless steel appliances, quartz countertops, wood-style flooring, full-size washers and dryers, air conditioning, walk-in closets, ceiling fans and private patios or balconies.
Common-area amenities at the gated community include a resort-style swimming pool with sundeck, outdoor lounge, barbecue stations, resident clubhouse, business center, WiFi in social spaces, playground, onsite dog park, dog wash station and a state-of -the-art fitness center.
Situated approximately one mile east of I-24, Reserve at Kirkwood is within a 45-minute drive of Nashville’s lively entertainment scene and within nine miles of Austin Peay State University. Clarksville’s charming downtown area features a blend of historic buildings and a variety of dining, retail and entertainment outlets. The city offers a wide variety of nearby recreational outlets, including Dunbar Cave State Park, McGregor Park and Cumberland Riverwalk.
This transaction represents Hamilton Zanze’s seventh sponsored acquisition of 2024.

SEATTLE, WA – A partnership between Security Properties and an affiliate of Rockwood Capital closed on the acquisition of NV Apartments, a 284-unit multifamily property built in 2016 and located in Portland, Oregon, the two firms announced.
The property is located within Portland’s highly desirable North Pearl District. Situated along one of the city’s most dynamic corridors on 13th Avenue, NV benefits from its location near a vast range of retail, dining, and recreational options all within walking distance. Among other notable amenities, the property is just three blocks from a Safeway grocery store and one block from Fields Park, with 3.2 acres of serene open space, a jogging path, and an off-leash dog park.
The residential floorplans are comprised of one and two-bedroom units across a standard, townhome, loft, and penthouse spec. The property was delivered prior to Portland’s Inclusionary Housing Program, resulting in all units being leased at market rates. The unit interiors feature modern wood grain laminate cabinets with under-mount lighting, stainless steel appliances, hard surface countertops with under-mount sinks, and vinyl plank flooring.
The community amenities include an outdoor dog run and wash station, private dining room area, bike storage and repair station, fitness center, yoga studio, resident lounge, and large third floor courtyard area. The property also features about 4,100 square feet of ground level retail space. While the asset currently offers a high-end amenity package and well-appointed living units, the partnership has identified several opportunities to further emphasize these strengths.
According to Alex Gauper, Senior Director at Security Properties, “The acquisition of NV represented a unique opportunity to purchase a well-located, trophy high-rise at a compelling basis relative to replacement cost. As Portland’s urban core continues to build momentum, we believe NV is well positioned to fully capture the benefits of this trend and are excited to grow our existing portfolio in the area.”
Matthew Friedman, Managing Director at Rockwood Capital, added, “We are delighted to have acquired NV Apartments at an attractive price in Portland’s dynamic mixed-use Pearl District. The acquisition reflects our belief in the importance of mixed-use nodes, and we are excited to participate in the Pearl District’s renaissance by partnering with Security Properties on this investment.”

MIRAMAR, FL – FCP announced the acquisition of Alexan Miramar Apartments, a newly constructed 250-unit multifamily community located at 3155 SW 147th Terrace in Miramar, FL, part of the thriving Broward County market.
“Alexan Miramar is a strategic addition to FCP’s growing Florida portfolio,” said Bruce Gago, Senior Vice President at FCP and head of the company’s Florida investments. “In a challenging macro environment, FCP continues to identify and execute on opportunities that align with our commitment to delivering high-quality housing in prime locations. This acquisition underscores our confidence in South Florida’s long-term growth prospects and the demand for market-rate housing near key employment and retail hubs.”
The Alexan Miramar community offers residents thoughtfully designed studio, one-, two–, and three-bedroom apartments with premium amenities tailored to modern lifestyles. Highlights include:
Community Features: A resort-style saltwater pool, fitness center with rooftop activity deck, shaded 3,000-square-foot dog park, co-working spaces, a creative studio, and green spaces such as a hammock garden overlooking a scenic pond.
Apartment Features: Chef-inspired kitchens with quartz countertops, spacious bathrooms with dual access, hardwood flooring, and tech-forward amenities designed to accommodate today’s renters.
This acquisition reinforces FCP’s ongoing commitment to deploying capital in high-growth markets and expanding its footprint in Florida, where the company has been actively investing in multifamily communities.

NEW YORK, NY – Multifamily housing operators have faced a series of challenges in recent years, from rising interest and insurance rates to a wave of new regulations and scrutiny over their use of revenue management software to set rents. Amidst the turbulence of navigating these complexities, a new wave of litigation has emerged in an entirely different area, one that now threatens to ripple through the multifamily industry.
It has been over five years since the National Apartment Association first sounded the alarm on what it termed Surf-By Lawsuits —a digital twist on the well-known Drive-By Lawsuits. The latter refers to legal actions under the Americans with Disabilities Act (ADA) against businesses lacking compliant physical accommodations. In contrast, Surf-By Lawsuits target websites that fail to meet accessibility standards, particularly those that do not support assistive technologies like screen readers, leaving disabled users unable to navigate them effectively.
Websites lacking these accessibility features quickly became a focal point for lawsuits. Many defendants resisted settlement demands, arguing that the ADA does not explicitly address websites. When Congress enacted the ADA in 1990, the internet—and the vital role it plays in modern society—was beyond anyone s imagination. However, Congress made it clear when passing the ADA that the types of accommodation and services provided to individuals with disabilities, under all of the titles of this bill, should keep pace with the rapidly changing technology of the times. These very words set the stage for a series of legal battles.
Litigation in this new frontier quickly spread across a wide range of industries—from hotels and airlines to retailers and banks. Virtually any business with a website found itself vulnerable to legal action from a rapidly growing cottage industry within the legal community. As lawsuits progressed, victories began to establish new case laws, providing precedents for future claims to build upon and further connecting website accessibility to ADA compliance. Among these cases, none proved more significant than the lawsuit against Domino s Pizza.
In the case of Robles v. Domino s, Guillermo Robles, who is blind, attempted to order a custom pizza using Domino s website and their mobile app. However, the platforms were incompatible with his screen reader, a tool that converts on-screen text into speech or braille, preventing him from completing his order. Robles filed a lawsuit, advocating for online accessibility for people with disabilities. After a series of legal battles, the case reached the U.S. Supreme Court, which declined to hear Domino s appeal, allowing a lower court s ruling to stand—affirming that the ADA applies to websites and mobile apps. The decision was a major victory for accessibility advocates and set a powerful precedent for future cases.

As legal battles intensified, technology entrepreneurs stepped in to offer quick-fix solutions aimed at keeping businesses out of the courtroom. This gave rise to Overlay Accessibility Widgets —those small, handicap-like icons that appear at the bottom of websites, offering an array of accessibility controls. Marketed as a simple, one-line-of-code solution, these widgets were quickly adopted by businesses, including multifamily operators, often through providers within their industry. However, few realized that most of these widgets were white-labeled products from just a handful of companies in the emerging accessibility space.
Today, website accessibility lawsuits involving quick-fix overlay widgets continue to surge. Disabled users allege that these widgets, much like the issues highlighted in the Domino s case, often interfere with screen readers—preventing them from accurately reading website content and, in some cases, rendering previously accessible sites completely unusable.
In June 2024, a proposed class action lawsuit was filed against accessiBe according to ClassAction.org, alleging the company falsely advertised its AI-powered overlay products as capable of making websites fully compliant with accessibility standards, specifically the ADA and Web Content Accessibility Guidelines (WCAG). Experts argue that overlay widgets cannot achieve WCAG compliance and instead recommend manual testing and code remediation. The lawsuit further alleges that businesses using overlay widgets may be at higher risk for lawsuits, as these tools often interfere with accessibility technologies relied upon by people with disabilities. The case, filed in New York by Tribeca Skin Center, highlights this issue—despite using an overlay widget, the company was sued for having an inaccessible website.
The larger concern for multifamily operators is that most property websites rely on overlay widgets—many of which are white-labeled products from the very companies now facing litigation. Given that multifamily is already a high-risk target due to the extensive services provided online, experts anticipate a surge in lawsuits against property managers as overlay widgets continue to draw scrutiny from accessibility lawyers.
Multifamily tech firm 365 Connect, which has served the industry for over two decades and are highly recognized accessibility experts, tout their industry-first WCAG-certified platform. The firm also notes another first in the industry, recently upgrading its certifications under the latest and more stringent WCAG 2.2 standards. Having won 13 global awards for just their work in web accessibility, and recently receiving an Anthem Award for Responsible Technology alongside celebrity causes such as Kevin Bacon’s Sixdegrees.org, Matt Damon’s Water.org, and Elton John’s AIDS Foundation – they are one of the most respected providers in the world of digital accessibility. The firm also published an in-depth whitepaper on website accessibility, featuring disability rights advocates Haben Girma and Chris Downey, clearly demonstrating the proptech provider s deeper level of engagement in this space. Their high-profile founder has taken to stages and streaming services to discuss the importance of digital accessibility, even speaking at an educational conference before the Louisiana Bar Association.
Kerry W. Kirby, Founder and CEO of the firm, stated, Achieving true web accessibility is undoubtedly not only a significant investment, but the right thing to do, as access to the internet s resources are a basic human right. WCAG sets the standard for providing an equivalent experience for people with disabilities, and that principle is embedded into everything we create. At 365 Connect, we have our entire renter-facing platform—websites, chatbots, applications, leasing tools, resident portals, and more—manually audited by a third-party firm with IAAP-auditors every 180 days. In that short span, there are an array of updates to be made, as WCAG keeps evolving – this is not a one and done fix.
With website accessibility lawsuits in the multifamily space increasingly tied to Fair Housing Act violations, it adds even more risk for property operators. While the Americans with Disabilities Act primarily governs accessibility standards for public accommodations, the Fair Housing Act prohibits discrimination against individuals with disabilities. Many accessibility lawsuits against multifamily firms claim that inaccessible websites effectively deny people with disabilities the ability to search for housing, apply for leases, or access services that are protected under the Fair Housing Act.
The intersection of the Fair Housing Act and ADA amplifies legal exposure, as courts are interpreting online platforms as extensions of physical properties, especially when websites are integral to leasing, advertising, and resident communications. Multifamily operators are finding themselves defending against allegations that inaccessible websites constitute discrimination based on disability, making compliance with both regulations essential. With the surge in lawsuits claiming overlay widgets interfere with commonly used accessibility tools, another layer of intricacy is added to this argument.
Kirby highlights Domino s case as a powerful reminder that failing to accommodate individuals who rely on accessible technology can quickly turn a moral obligation into a legal mandate. He emphasizes that digital accessibility goes beyond compliance, it s about inclusion, equality, and ensuring access to essential resources and services for everyone. Kirby cautions that neglecting these principles not only invites costly lawsuits but also damages trust and alienates a growing community of accessibility advocates. When asked about accessibility overlay widgets, Kirby responded, We ve never used them, have no plans to offer them, and remain committed to conducting rapid audits to keep our platform aligned with the latest WCAG guidelines.

FORT WORTH, TX – Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of the apartment community Verandas at Cityview in Fort Worth, Texas. This successful close marks the fourth acquisition in Knightvest’s Fund II and its first asset in the Fort Worth market.
Built in 2002, the 314-unit garden style community is located in the thriving Benbrook submarket of South Fort Worth, an area where Knightvest has extensive experience. Knightvest has successfully upgraded and operated three other properties within a two-mile radius and plans to leverage this experience to seamlessly integrate Verandas at Cityview into its portfolio. Knightvest will fully renovate the majority of the units, upgrading them with modern finishes that are comparable to newer construction in the area. The community’s amenities will also be enhanced, including the addition of a fully renovated fitness center, upgrades to the pool area, and dog park. As part of the modernization efforts, Knightvest will rename the community to Lauren.
“This acquisition represents an exciting opportunity for us to revitalize a well-built community in a dynamic Fort Worth market where we have a strong track record with nearby properties,” said David Moore, Knightvest founder and CEO. “Marking the fourth acquisition in Fund II announced earlier this year, I’m proud of how our team continues to deliver dependable results, and I’m increasingly optimistic about 2025.
Fort Worth continues to be one of the fastest-growing major cities in Texas, with the Dallas-Fort Worth metro adding over 100,000 new residents in 2023. Knightvest is confident in the region’s long-term potential, particularly in Benbrook, where demand for affordable high-quality housing remains strong. Lauren exemplifies Knightvest Fund II’s mission to invest in well-located multifamily properties approximately 20 years old and modernize them to compete with newer construction in markets like Texas, Phoenix, and the Carolinas.

FALLS CHURCH, VA – NexCore Group, a privately-owned diversified healthcare real estate development, investment, and management company with a national footprint spanning 29 states, and its vertically-integrated senior housing operator, Experience Senior Living (ESL), proudly announce the start of construction of The Reserve at Falls Church, located in the West Falls neighborhood. The new 15-story community features 215 elegantly appointed homes, including a one-of-a-kind penthouse level. This community is the eighteenth senior living development for NexCore and ESL and the second development in The Reserve Collection, the company’s luxury line of senior communities.
“Breaking ground on The Reserve at Falls Church reflects NexCore’s steadfast belief in the future of senior living. As today’s aging demographic continues to grow, we are focused on developing communities that meet their evolving needs, offering modern spaces that foster independence and connection. We are driven by the opportunity to create meaningful, purpose-driven environments that enrich the lives of those who call them home.” Stated Jarrod Daddis, President of NexCore Group.
NexCore partnered with an affiliate of Nuveen Real Estate to capitalize the project. This is the third ground-up senior living development project on which both companies have collaborated. “The Reserve at Falls Church aligns with Nuveen’s focus for developing state-of-the-art senior living communities for the next generation of seniors in high-barrier-to-entry submarkets like Falls Church,” noted Andrew Pyke, Head of Healthcare Real Estate at Nuveen. “We are excited to partner again with a first-class developer in NexCore and an operator in ESL to bring this project to the greater DC community.”
The Reserve at Falls Church offers an unparalleled host of high-end amenities for residents. Dining options will feature certified organic ingredients and will be available from multiple restaurants within the community, including a chophouse, a seafood restaurant, an oyster bar, and a cocktail lounge. Other amenities include an indoor saltwater pool and spa, a state-of-the-art fitness center, and an expansive maker space designed for creative expression and lifelong learning. The community will also offer concierge services, valet parking, and electric vehicle transportation options.
“We’re excited to bring The Reserve at Falls Church to life and are thrilled to be able to offer our award-winning continuum of care, allowing residents of Falls Church to remain close to their friends and family and enjoy the lifestyle they’ve grown accustomed to,” said Phill Barklow, President of Experience Senior Living. “The Reserve is the pinnacle of luxury among senior communities and offers more than just a place to live—it’s a community of connection and purpose where residents can enjoy elevated living, unparalleled care, and a deep sense of connection to their community.”
The Reserve at Falls Church seamlessly integrates into West Falls, a multiphase, mixed-use, transit-oriented neighborhood. Spanning 1.2 million SF across nearly 10 acres of land, West Falls is the largest development in the city’s history. West Falls serves as a gateway to the city and a vibrant gathering place for all, featuring modern residences at The Oak and The Alder, curated retail and dining, Home2 Suites by Hilton, The Wellness Center, a medical office building, and The Commons, the neighborhood’s central outdoor gathering space. Hoffman & Associates, the master developer of West Falls, is a nationally recognized leader in both residential and mixed-use development across the Mid-Atlantic and Southeast.
The Reserve at Falls Church, expected to open in the spring of 2027, is NexCore’s second senior living development in Virginia and expands ESL’s operating presence in the state.

CHARLOTTE, NC – Thompson Thrift, a full-service nationally recognized real estate company, announced the sale of Taylor Farms, a 276-unit, Class A multifamily community 20 minutes from Uptown Charlotte. The Northmarq team led by John Currin, Andrea Howard, Allan Lynch, Caylor Mark, Jeff Glenn and Austin Jackson brokered the sale to Atlanta-based Mesa Capital Partners.
“Taylor Farms was our first multifamily community in the Carolinas and we were fortunate to capitalize on its prime location to bring a high-quality community to one of the nation’s hottest rental submarkets,” said Josh Purvis, managing partner for Thompson Thrift Residential.
John Currin, senior vice president, Northmarq, continued, “Taylor Farms was one of Charlotte’s most competitive 2024 marketing campaigns due to Thompson Thrift’s strong national reputation as a high-quality developer and Northeast Charlotte’s economic growth trajectory that continues to outperform other submarkets in the MSA.”
Located just off of I-485 and Mallard Creek Road in the University City submarket, the 16-acre Taylor Farms features 276 apartment homes in eight three-story, garden style structures and 64 detached garages.
Completed in December 2023 and already reaching stabilization, each of the one-, two- and three-bedroom layouts are well-appointed with premium finishes, including gourmet bar-kitchens with quartz countertops, stainless-steel appliances, smooth glass cooktop stoves and under cabinet lighting; primary bedrooms with walk-in closets and a walk-in shower with full tile surround and glass doors; and full-size washers and dryers.
Additionally, residents enjoy resort-style amenities, including a professionally designed clubhouse with TVs, conference rooms, technology centers and more; a 24-hour fitness center with state-of-the-art equipment and Fitness On Demand virtual training kiosks and spinning rooms; a swimming pool with hot tub and sundeck, entertainment areas and pet-friendly bark parks and doggie spas.
With its convenient location near the I-485/I-85 interchange, Taylor Farms offers easy access to over 3,000 northeast corridor businesses and the popular PNC Music Pavilion and the world-famous Charlotte Motor Speedway are both minutes away.
Equity for the development was provided by the Watermark 2021 Multifamily Development Fund III LP.
Thompson Thrift is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. Since its founding more than 30 years ago, 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 commercial and multifamily communities.

RICHMOND, VA – 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 Chasen, a 352-unit, multifamily community development in Richmond, Virginia’s Scott’s Addition qualified opportunity zone. The development, funded by equity raised by CSRA Opportunity Zone Fund VII, LLC, broke ground in April 2023 and is the fifth opportunity zone development the company has topped out in Scott’s Addition during the past four years.
“Capital Square would like to thank the many investors and financial advisors across the nation who had the foresight to invest in Capital Square’s fifth opportunity zone fund in Scott’s Addition,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “By investing in this manner, investors are able to defer and exclude capital gains from the sale of any asset. The tax benefits incentivize investors to fund new developments that generate meaningful economic activity, new jobs and tax revenue for localities. This is a win-win for all the parties.”
Upon completion, the community will include three six- and seven-story adjoining multifamily buildings above podium parking comprised of studio, one-, two-, and three-bedroom apartments with over 5,350 square feet of ground-level retail space. Units will average 845 square feet in size with premium finishes and appliances including quartz countertops, tile backsplashes and luxury vinyl plank flooring throughout. Resident move-ins are anticipated to begin at the property, located at 2929 W. Clay St., 2922 W. Marshall St., and 2925 W. Marshall St., in summer 2025.
Community amenities will include a resort-style saltwater pool, lounge and golf simulator, fitness club with studio, co-working lounge with private offices, pet spa, bike storage and repair, lush courtyards and a rooftop lounge with outdoor terrace, among others. Residents will be within walking distance of arts, cultural and lifestyle amenities provided by the Scott’s Addition neighborhood, which contains over 51 retail, dining and entertainment venues.
Established in 1901, Scott’s Addition is a historic area known for its food, drink and entertainment amenities, including 13 breweries, cideries, meaderies and distilleries. Once a hub for industrial buildings and businesses, Scott’s Addition is a dining and entertainment destination that was recently dubbed Richmond’s “craft beverage capital” by CNN. The area is a designated opportunity zone with a census tract that stretches across Virginia Commonwealth University and the Carver neighborhood and is now known as Richmond’sfastest growing neighborhood, according to the Greater Scott’s Addition Association.
The Chasen project team includes Timmons Group as civil engineer, Poole & Poole Architecture as building architect, Hourigan Construction as general contractor, ENV as interior designer and Marvel Designs as landscape architect, all locally based firms.
“The current economic environment has posed significant challenges to financing and construction costs for developments nationwide, which makes this topping out not only a milestone for the project but a testament to the hard work and collaboration of every individual involved,” said Whitson Huffman, co-chief executive officer. “The Capital Square team was able to persevere through these challenges and we look forward to delivering yet another luxury multifamily community to the Scott’s Addition qualified opportunity zone.”
Capital Square has been the most active developer within the Scott’s Addition neighborhood since 2020, having completed four Class A multifamily communities: INK at Scott’s Collection, VIV at Scott’s Collection, GEM at Scott’s Collection, and Otis, all within walking distance of one another. In total, Capital Square will have delivered more than 900 Class A apartment homes to the community upon completion of the CSRA Opportunity Zone Fund VII project. Otis, a 350-unit, mixed-use multifamily development, received the 2024 CoStar Impact Award for multifamily development of the year, as selected by an independent panel of local industry professionals.
Development of Chasen is funded with proceeds from CSRA Opportunity Zone Fund VII, LLC. According to an economic impact study recently completed by FTI Consulting, Capital Square’s Scott’s Addition-focused opportunity zone developments have generated significant economic and fiscal impacts, including the creation of approximately 1,500 construction jobs and 63 permanent full-time jobs as of April 2023. In turn, the developments have generated $9.7 million in annual state and local tax revenue during their construction phases and are projected to deliver $7.7 million in annual state and local tax revenues during their operational phases as of April 2023. Overall, Capital Square’s nine opportunity zone funds have initiated in excess of $870 million in gross asset value to date.

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.