PEABODY, MA – Trammell Crow Residential (TCR), the multifamily development platform of Crow Holdings, announced construction has commenced on its latest Alexan community, a 180-unit, luxury multifamily residence in Peabody, Massachusetts. TCR will serve as both the developer and general contractor on the project.
Alexan Peabody, a four-story, luxury multifamily development, will be located at 128 Newbury Street along Route 1. Construction completion is anticipated for Q4 2025. Alexan Peabody will offer both market-rate and affordable studio, one-bedroom, two-bedroom, and three-bedroom units. Permitted as a 40B development, 25% of the units will be allotted as affordable housing at 80% of Area Median Income.
Each unit will be equipped with stainless steel appliances, wood-style plank flooring, in-unit washers and dryers, and spacious walk-in closets. Additional first-class amenities include a resort-style pool, outdoor courtyards, grilling stations, a state-of-the-art fitness facility, a business center, and a resident event room complete with a gourmet kitchen, gaming room, and library.
Ideally situated along Route 1 just one mile north from I-95/Route 128, Alexan Peabody will provide residents convenient commutes to the region s largest employment corridors in Boston, Cambridge, Burlington, and Waltham. Nearby lifestyle centers including MarketStreet Lynnfield and Northshore Mall which will provide plentiful dining and entertainment options for residents after work and on weekends.
Alexan Peabody provides much-needed market-rate and affordable housing to Boston s North Shore. The development of the site will beautify a previously clear-cut parcel of land, and we re appreciative of the cooperative working relationship with the neighbors and the City of Peabody that helped make this project possible, said Andy Huntoon, Managing Director, Northeast Division of Trammell Crow Residential. We believe there is an incredible opportunity to continue to meet Greater Boston s housing demand while creating jobs and providing solid risk-adjusted returns for our financial partners.
Last year, TCR announced the groundbreaking of Alexan Waltham, a 210-unit luxury multifamily community in Waltham, Massachusetts, slated to be completed in Summer 2025. With the addition of Alexan Peabody, TCR s Northeast apartment portfolio has more than 1,600 apartment units in various stages of development.

FRAMINGHAM, MA – The historic Bancroft building, which dates back to the early 1900s, has been preserved and given a new purpose by Washington Square Ventures, which has transformed the former factory into 258 apartment homes that are professionally managed by Greystar. The project was awarded a 2023 Preservation Massachusetts Mayor Thomas M. Menino Legacy Award, which recognizes excellence in historic preservation statewide.
The Lofts building is an old mill building that has served as a car manufacturing plant as well as other crated goods throughout the 20th century and was previously home to artists at the Fountain Street Gallery. Some of the industrial components, like raised beams and factory-style windows, have been restored and remain in the Loft building.
“The Bancroft Building is a key piece of Framingham’s economic history, having served several purposes throughout its life, and we wanted to make sure it endured for another purpose,” said Matt Faris, Co-Founder and Managing Partner of Washington Square Ventures. “It began its life as a shoe factory, served as a military supply factory as Bancroft Cap Company, and even saw Bay State Autos manufacture automobiles.”
A brand-new building on the property, The Vista, is a ground-up traditional apartment building and features sweeping views of Farm Pond, while the site’s former power station has been transformed into a 4,500 sq. ft. amenities hub highlighted by a resort-style swimming pool, lounge with TVs, fire pits and turf, outdoor grilling stations, and a top-notch fitness center inside. Washington Square Ventures is also working on a second phase of Bancroft Lofts with an expansion that would add 300 more apartment homes to the community.
Washington Square Ventures spent the time lovingly restoring the Bancroft Building, using sustainable building practices, and now Bancroft Lofts is a great example of Framingham’s reinvention. The vibrant downtown is close to transit, restaurants, many with Brazilian cuisine, and local businesses like Jack’s Abby Craft Lagers, a local favorite and official beer of the Boston Celtics. Bancroft Lofts partnered with Jack’s Abby to design a special pint glass used as a move-in gift for residents.

CHARLESTON, SC – Argyle Real Estate Partners (Argyle), a real estate investment firm focused on multifamily acquisitions in the Southeast and Texas, announced the closing of Newbrook Point Hope, a 264-unit community located in Charleston, SC, an extension of the affluent and highly desirable Daniel Island submarket. The acquisition marks the Company’s first in the Charleston market.
“Argyle is pleased to tap into unchartered territory and close out the year with the acquisition of Newbrook,” said Ryan Reyes, CEO for Argyle Real Estate Partners. “Given its location and accessibility, the mint condition of the asset, and the development planned for the area, which we believe will help spur future growth, we’re confident that Newbrook will be one of our standout properties.”
Newbrook is at the epicenter of the ‘Point Hope’ Masterplan Development; a master development plan that contains single-family residential homes from many of the nation’s top builders, multifamily housing, retail and office space, and brand-new A-rated public schools.
The 2021-vintage Newbrook offers studios, and 1, 2 and 3-bedroom apartments with unique and spacious floorplans averaging over 1,000 sf ft. Apartments feature stainless-steel appliances, quartz countertops, walk-in closets, modern fixtures, and full-size washers and dryers; while the property’s amenity suite, which draws its design and inspiration from the area’s coastal surroundings, includes a full-service clubhouse, a resort-style saltwater pool, a pickleball court, fitness center, an impressive dog park known as the “Doggy Paddle”, and ample green space with community trails for walking, biking, and running that also provide access to other neighboring attractions. Greystar will oversee operations onsite.
Newbrook is 25 minutes from Downtown Charleston, the main manufacturing (Boeing and Mercedes) and healthcare hub in Charleston; and Daniel Island is home to major employers such as: Benefitfocus (county’s largest employer), Booz Allen Hamilton and Gildan.
“Newbrook fits our investment criteria of buying well located assets for below replacement cost in strong and desirable submarkets,” said Mike Cacciatore, Principal for Argyle Real Estate Partners. “By being within walking distance to Publix,30K SF of quality retail, and A-rated public schools, Newbrook offers access to an unparalleled, walkable community that is and will remain desirable to prospective tenants over the long term.”

KNOXVILLE, TN – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of multifamily communities, announced the acquisition of Summit Townhomes, a newly constructed 120-unit build-for-rent (BFR) housing community in Knoxville, Tennessee. The community was acquired on behalf of CS1031 Summit Place BFR Housing, DST, which seeks to raise $18 million in equity from accredited investors and has a minimum investment of $50,000.
Capital Square formed the Private Equity Group managed by experienced real estate executives, Dave Platter and Jon Trott, as managing directors and co-heads, to profit from opportunities in the housing market, including a dedicated build-for-rent strategy in high growth sunbelt markets. This represents Capital Square’s fourth BFR offering for the Section 1031/DST program, and the seventh BFR project for the private equity group.
“Capital Square’s private equity group is a high-performing team with top-tier executives who are focused on housing strategies, including BFR,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “This will be one of the largest BFR platforms in the nation. We have previously reported that Capital Square has secured its first institutional partner for the BFR strategy and has now closed on the seventh BFR community, Summit Townhomes, for the DST program.”
Located at 100 Lisa’s Way, construction of Summit Townhomes was completed in 2022. The mix of three- and four-bedroom townhomes average over 1,400 square feet with open floor plans, marble countertops, stainless steel appliances, full size washer and dryers, walk-in closets, smart home integration and extra storage space. Community amenities include a firepit, picnic and barbecue area, private and overflow parking, covered gazebo and bark park.
The property is in close proximity to State Route 62, providing residents with easy access to top employers, such as Oak Ridge National Laboratory, Y-12 National Security Complex, UT-Battelle, Methodist Medical Center of Oak Ridge and Oak Ridge Schools. Summit Townhomes is served by Woodland Elementary School, Robertsville Middle School and Oak Ridge High School, all within a two-mile radius of the property.
Summit Townhomes is under a 30-minute drive from downtown Knoxville. The Knoxville MSA has a population of 747,185 and is projected to increase by 3.6% over the next five years. The University of Tennessee plays a significant role in Knoxville’s economy. With iconic landmarks like Neyland Stadium, with a seating capacity of 100,000+, university sports events generate meaningful revenue for local businesses. Moreover, the university employs more than 11,700 people who focus on research, educational programs and partnerships that contribute to the city’s overall economic growth.
“Knoxville is an attractive and promising real estate market, offering a combination of affordability, a stable rental market driven by universities and government employment, steady economic growth and a favorable income tax policy,” said Whitson Huffman, co-chief executive officer. “The property has already seen strong performance, accomplishing full lease-up in nine months with 98% current physical occupancy.”

HOUSTON, TX – Buchanan Capital Partners, an Austin, Texas performance-based commercial real estate investment firm, announced the recent off-market multifamily acquisition of Dakota at Bingle. Built in 2021, Dakota at Bingle is a 5-story midrise apartment community consisting of 258 units in the rapidly growing submarket of Spring Branch in Houston, TX.
“We are thrilled to add Dakota at Bingle to our portfolio,” said Keith Buchanan, Founder of Buchanan Capital Partners. “This acquisition aligns with our strategy of investing in high-quality properties with an acquisition basis below replacement cost. We are focused on investing in submarkets with limited new supply pipelines and proximity to main employment corridors, and Spring Branch checks both of those boxes.”
Currently, many buyers are sidelined due to aggressive acquisition strategies executed at the peak of the market. This was fueled by a historically low interest rate and cap rate environment and was compounded by highly leveraged capital structures. As a value investor who only receives compensation upon investor performance, BCP’s business model forced them to be defensive over the last few years. BCP is now actively seeking to acquire stabilized assets at a significant discount to replacement cost. Their goal is to be the preferred buyer for sellers who want a smooth execution without re-trading or concern about the buyer’s legacy portfolio condition.
Buchanan concluded, “Supported by BCP’s performance-based structure, our value investing philosophy requires patience and has resulted in consistent returns. We have been in a long bull market, and track records will be challenged. We have never lost investor principal or made additional capital calls, and do not foresee this changing. To capitalize on this market opportunity, we are actively expanding our investor base for the first time and encourage interested investors to contact us.”
Since the acquisition, Dakota at Bingle has been rebranded as Belle Spring Branch and is now managed by Valiant Residential, a top nationwide property management firm with over 35,000 units under management.

SAN ANTONIO, TX – NRP Group leadership, Community Housing Resource Partners and City of San Antonio (COSA) officials gathered at the future site of San Antonio s newest affordable housing community, Nova Lofts, to kick off construction of the 65-unit community on the city s Northeast side. Nova Lofts is The NRP Group s third affordable housing community in San Antonio to break ground this year, and second supported by the COSA Neighborhood and Housing Services department s 2022 Affordable Housing Bond Program (Bond).
As the City of San Antonio continues to grow, our focus on addressing housing needs remains paramount, said Mayor Ron Nirenberg. We are dedicated to ensuring all individuals and families have access to safe, affordable housing options across the entire city.
Located at 127 Rainbow Drive, Nova Lofts is a 65-unit development strategically placed near Alamo Heights, a multitude of essential businesses and employers, and public transit to ensure access to convenient, wraparound services and employers for residents. One to three-bedroom floorplans will serve residents earning 30-60% of the Area Median Income (AMI) and amenities within the four-story complex include a playground, fitness center, community clubhouse and more.
Developments like Nova Lofts are an essential investment in the wellbeing of our entire community–now and for generations to come, said Councilman Marc Whyte, COSA District 10. The reinvestment along Austin Highway is an important initiative to spur economic development along this major thoroughfare in the city of San Antonio.
In collaboration with Andy Benavides, President of Benavides Studios and Executive Director of S.M.A.R.T, The NRP Group has dedicated a portion of the development budget toward the commission of a site-specific mural by San Antonio artists, Hailey Marmolejo, Danielle Edwards and Ashleigh Valentine Garza. The addition of the mural, which will be inspired by the celestial theme of the property, will also extend the momentum of the Downtown arts and culture movement and the Broadway Cultural Corridor further north along Austin Highway. This expansion will provide the community the opportunity to engage with public art right in their own backyard.
Public art not only beautifies our spaces but ensures that the soul of the city thrives with the unique voices and visionaries who call it home,” said Andy Benavides, President of Benavides Studios and Executive Director of S.M.A.R.T. We are committed to building community through art across the city of San Antonio.
The $24 million development was made possible through innovative funding partnerships, including a $2.7 million allocation from the Bond, and the State of Texas highly competitive 9% low-income housing federal tax credits. Additional funding partners include U.S. Bank.
“Nova Lofts is the third development to break ground with funds from the City s Affordable Housing Bond, continuing the City s initiative of providing quality home options for families, said Veronica Garcia, COSA Deputy Director of Neighborhood and Housing Services. We are thrilled to continue delivering on the Bond promise of building affordable rental options for San Antonio residents across all walks of life to enjoy.
Development partner and local nonprofit, Community Housing Resource Partners, will provide and organize life-affirming resident services including after-school nutritional snacks, ESL assistance, healthcare screenings, financial literacy programming, job readiness and career preparation.
“When deciding where to place this much-needed housing resource, we brought partners together from across the city, county, and state to ensure the specific needs of the community were being met across the board,” said Jason Arechiga, NRP Group Senior Vice President of Development. “Thanks to an incredible level of collaboration across all stakeholders, we are able to bring high-quality, affordable housing to communities that need them most.
The first Nova Loft units will be ready for leasing January 2025 and the entire development is slated for completion by April 2025.

RALEIGH, NC – 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 a 20-story Class A multifamily tower at 320 W. South Street in the Warehouse District of Raleigh, North Carolina within a qualified opportunity zone.
“This 20-story, trophy multifamily tower is Capital Square’s crowning achievement in Raleigh,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “Capital Square is pleased to be a part of something bigger than ourselves the transformation of downtown Raleigh.”
Located at the intersection of the Boylan Heights neighborhood, Dorothea Dix Park and downtown Raleigh, 320 W. South Street will be one of only a select few luxury rental housing communities in the downtown submarket. The project includes 297 apartment homes, consisting of studios and one-, two- and three-bedroom units, along with 10,500+ square feet of ground-floor retail space and an adjacent, standalone parking structure with over 400 spaces. Onsite amenities will include a resort-style swimming pool, rooftop lounge, coworking space and state-of-the-art fitness center.
The apartment community is within easy walking distance of multiple downtown entertainment, bars and restaurant options, as well as the Red Hat Amphitheater and Raleigh Convention Center. Meanwhile, the property’s location, adjacent to U.S. 70, offers outstanding access to the Research Triangle and North Carolina’s well-known educational institutions.
“Capital Square is proud to mark this important milestone in the development of 320 West South Street, where residents of this elegant property will enjoy the finest amenities and spectacular views of the downtown Raleigh skyline and Red Hat Amphitheater,” said Whit Huffman, co-chief executive officer. “Perhaps more importantly, this is an important step in the continuing transformation of the Raleigh Warehouse District into a vital and thriving 24-hour neighborhood, which will be accelerated by the arrival of hundreds of families who will make 320 West South Street and the surrounding neighborhood their home.”
Capital Square has partnered with JDAVIS Architects as building architect, W. M. Jordan Company as general contractor and York Properties as the retail leasing agent for the property. The design team also includes Architecture Firm as interiors designer and EDSA as landscape designer.
Development of 320 West South Street has been funded by Capital Square’s sixth qualified opportunity zone fund, CSRA Opportunity Zone Fund VI, LLC. More recently, Capital Square launched CSRA Opportunity Zone Fund VII, LLC to fund the development of a luxury multifamily development in the Scott’s Addition neighborhood of Richmond, Virginia, and CSRA Opportunity Zone Fund VIII, LLC to help finance the construction of a Class A apartment community adjacent to the University of Tennessee in Knoxville.
Capital Square’s opportunity zone funds have initiated in excess of $590 million in development value to-date.

GREENVILLE, NC – FCP announced $22 million in preferred equity has been invested through its Structured Investments platform to finance two multifamily transactions: the development of Arris NoDa, a 276-unit, four-story, garden-style property in Charlotte, NC with partner Arris, and a recapitalization with Grubb Properties of Link Apartments West End, a Class A, 215-unit, five-story midrise apartment community in Greenville, SC.
“FCP is pleased to provide financing through our Structured Investments platform for these transactions, each well-located in a dynamic Southeast market,” said Kevin Murphy. “We are fortunate to have a successful history with both investment partners and recognize their respective expertise in delivering and operating well-positioned apartment communities.”
FCP’s Structured Investments platform has invested approximately $676 million of capital to date, providing flexibility and creative capital solutions to owners and developers.
FCP is a privately held real estate investment company that has invested in or financed more than $12.4 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties.

CHARLOTTE, NC – S2 Capital, a vertically integrated multifamily investment manager, announced it has acquired Timber Creek, a 352-unit multifamily property located in Charlotte, North Carolina, and represents S2’s eighth property in the state. Financial terms of the transaction were not disclosed.
Davey Leach, Vice President of Acquisitions at S2, said, “S2’s multifamily investment approach targets high-growth markets across the U.S., and our team is always searching for attractive properties in flourishing cities like Charlotte. We’re pleased to be making our fifth acquisition in Charlotte with Timber Creek, and look forward to enhancing the property while growing our footprint in North Carolina.”
Located at 1100 Falls Creek Lane, Timber Creek sits within the Collingwood neighborhood, six miles southwest of downtown Charlotte. The attractive and expanding Charlotte market has a below-average cost of living, a thriving restaurant and entertainment scene and is a hub for financial services and banking. Charlotte continues to see strong employment growth across industries, with major employers including Amazon, Atrium Health and Bank of America, along with over twelve colleges and universities in and around the metropolitan area. These solid underlying fundamentals and growth trajectory contributed to S2’s acquisition of Timber Creek.
Timber Creek includes studio, one- and two-bedroom floorplans, with finishes such as stainless-steel appliances, large closets, smart thermostats and more. In the property’s community spaces, residents have access to desirable community amenities including an outdoor swimming pool, grilling station, clubhouse and equipped fitness center, a dog park and nature trail, as well as proximity to the Lynx Blue Line light rail system that runs throughout Charlotte.
Following its acquisition of Timber Creek, S2 plans to rebrand the property as The Marley. Additionally, S2 plans to make exterior renovations to the buildings and outdoor amenities, as well as upgrade unit interiors with a competitive set of modern finishes.

WASHINGTON, DC – The District of Columbia Housing Finance Agency (DCHFA) closed its first affordable housing investment of FY 2024 with the issuance of $59.6 million in tax exempt bonds and underwrote $44.8 million in federal and $8.8 million in D.C. Low Income Housing Tax Credit equity for the construction of Edgewood Commons V Apartments (435 Edgewood St NE). The new Ward 5 senior community will consist of 151 apartments.
DCHFA is proud to continue its partnership with Enterprise Community Development in expanding the Edgewood Commons campus and increasing the number of affordable rental housing units in Ward 5, specifically much needed apartments for seniors, stated Christopher E. Donald, Executive Director/CEO, DCHFA.
In August 2023 the Agency invested $54.7 million in tax exempt bonds for the rehabilitation of Edgewood 611 and Edgewood Gardens Apartments both of which are components of Edgewood Commons. Financing sources for Edgewood Commons V include a $26.5 million loan from the DC Department of Housing and Community Development s Housing Production Trust Fund.
Edgewood Commons V Apartments (ECVA) will be a nine-story $123 million high-rise with 11 efficiency, 135 one-bedroom, and five two-bedroom units. The building will be restricted to senior residents aged 62 and older, earning 30 percent and 50 percent of area median income (AMI) or less. Ninety-six of ECVA s units will be restricted to residents earning 30 percent AMI or less. Of the 96 units restricted to residents earning 30 percent AMI or less, 56 will be receiving Local Rent Supplemental Program project-based subsidy. Sixteen units out of the 56 units will also be permanent supportive housing units restricted to 30 percent AMI. The remaining 40 units at 30 percent of AMI will receive a rent subsidy through Rental Assistance Demonstrations (RAD) for Project Rental Assistance Contact (PRAC). Additionally, 10 units at 50 percent of AMI will benefit from RAD for PRAC rent subsidies. The remaining 44 units at 50 percent of AMI are unsubsidized.
The units will include universal design features to prevent falls and facilitate aging in place. All units will be fully accessible, and bathrooms will have direct access to bedrooms. In addition to accessible bathrooms, each unit will include pull-cords and grab bars. ECVA will also include a 6,500 square foot adult day care located on the ground floor operated by Easterseals. Easterseals provides daily clinical care, supervision, activities, and curb-to-curb transportation for adults, seniors, and veterans.
Through its Multifamily Lending and Neighborhood Investment and Capital Markets divisions, DCHFA issues tax-exempt mortgage revenue bonds to lower the developers costs of acquiring, constructing and rehabilitating rental housing. The Agency offers private for-profit and non-profit developers low-cost predevelopment, construction and permanent financing that supports the new construction, acquisition, and rehabilitation of affordable rental housing in the District.