CLEVELAND, OH – Local Cleveland officials joined The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, and University Hospitals (UH), one of the nation’s leading health care systems, for a ribbon-cutting ceremony to celebrate the grand opening of The Davis Apartments (The Davis), a 52-unit affordable housing apartment community, and the UH Community Wellness Center in Cleveland s Glenville neighborhood.
The community is The NRP Group s third “Health and Housing” development, conceived to address social determinants of health (SDOH). The first project, Residences at Career Gateway in Columbus, Ohio, opened in 2018; the second, Via Sana in the Clark-Fulton neighborhood of Cleveland opened in 2022. Each of these affordable housing communities was created in partnership with the City of Cleveland, leveraging cross-sector collaboration, and aiming to address historic neighborhood disinvestment through new construction. This is the second of UH s Community Wellness Centers; the first opened in Bedford, Ohio, earlier this year.
The history of University Hospitals as an anchor institution in this community dates back 155 years, said Dr. Daniel Simon, President, Academic & External Affairs and Chief Scientific Officer at University Hospitals. We re proud to celebrate the completion of this community, and grateful to have had an opportunity to partner with The NRP Group. By providing high-quality housing and supportive services to its residents, The Davis enables our hospital staff to reach beyond our four walls to address SDOH in a historically disinvested neighborhood. This directly aligns with our institution s mission: ‘To Heal. To Teach. To Discover.
The Community Wellness Center serves as a venue for UH caregivers to engage with Glenville residents by delivering preventive health care and other solutions addressing SDOH. The center s offerings include healthy cooking demonstrations, a Food For Life Market, support for pregnant women and young mothers, programs to combat senior citizen isolation, telehealth services and training in workforce and financial literacy.
Located at East 105th Street and Churchill Road on the site of the former Harry E. Davis Elementary School, which had been vacant since 2006, The Davis comprises one-, two-, and three-bedroom apartment homes, along with four three-bedroom townhomes, and serves as home to individuals and families with incomes equal to or below 60 percent of the Area Median Income (AMI).
Amenities at The Davis include a community room, a fitness center, laundry facilities, a playground, a business center, trash/recycling rooms on each floor, a pet-friendly atmosphere and controlled access for added security.
Glenville is located less than a mile from University Circle, home to Case Western Reserve University, the Cleveland Clinic, the Cleveland Museum of Art and the Cleveland Museum of Natural History, as well as shops, restaurants and grocery stores. The Davis proximity to these anchor institutions and employment opportunities lays a strong foundation for making these centers of learning and jobs accessible to individuals of all income levels.
“We acknowledge that a substantial portion of the direct medical costs for our Black, Latinx, and Asian-American neighbors are avoidable and related to health inequities. Today, the UH wellness center at Glenville is one way we are working to change that, said Celina Cunanan, Chief Diversity, Equity & Belonging Officer, at University Hospitals.
Funding for the project, which was designed by RDL Architects, was provided by Ohio Finance Housing Agency (OHFA), as well as RiverHills Bank and PNC Bank.
The NRP Group is dedicated to creating affordable communities that provide residents with opportunities for long-term success, said J. David Heller, President and CEO of The NRP Group. We wouldn t be standing here at The Davis today without the tireless efforts of City of Cleveland officials and University Hospitals staff.
The Davis is named after Harry E. Davis, a Cleveland native who served four consecutive terms in the Ohio State House before becoming the first African American member of the Cleveland Civil Service Commission and serving as an Ohio State Senator.

TAMPA, FL – Covenant Capital Group, a leading real estate investment manager with an exclusive focus on value-add investments in apartment communities, sold Seven Lakes at Carrollwood, a 640-unit multifamily property located in Tampa, Florida.
Seven Lakes at Carrollwood, a garden style apartment community located in Tampa, Florida, sold in October. The multifamily property sits on over 39 acres and offers residents unique amenities like a sparkling swimming pool, fully equipped fitness center, and an upscale clubhouse. Seven Lakes at Carrollwood required a comprehensive renovation of the interiors, exteriors and amenities of the property to be in line with current renters expectations.
The property is nearby abundant retail options at the Plaza Citrus Park Mall, Westfield Citrus Park Mall and the Westchase Town Center – all within a ten-mile radius of Seven Lakes at Carrollwood. Also, the property s strategic location in Tampa offers one of the most dynamic economies in the state, driven by financial services, healthcare and education.
Seven Lakes at Carrollwood exemplifies Covenant s philosophy of revitalizing and extending the lifespan of strategically important apartment communities. According to NMHC and NAA s latest research on housing demand, an estimated 4.3 million housing units need to be built by 2035 and an additional 3.7 million after 2035 to keep up with annual projected demand.1
The U.S. can t meet the growing nationwide need for apartment inventory without preserving and extending the lifespan of existing units that are falling into disrepair, said Govan D. White, managing partner and co-founder of Covenant Capital Group. Covenant has invested heavily to update communities and make vast improvements in environmental efficiencies, adding to long-term sustainability. This keeps valuable housing inventory in high-growth areas affordable and accessible.

FORT WORTH, TX – Local real estate developers, community partners and residents celebrated the grand opening of Cowan Place Senior Living. It was built with the assistance of a $750,000 Affordable Housing Program (AHP) subsidy provided by the Federal Home Loan Bank of Dallas through one of its members, Texas Capital Bank in the Stop Six neighborhood of Fort Worth, Texas.
The development is part of a transformation plan designed to improve the Stop Six neighborhood in Fort Worth with affordable housing and neighborhood amenities. The plan includes replacement of the former Cavile Place public housing community with new, mixed-income rental residences in six phases of development. It includes a neighborhood hub for recreation, educational, health and safety services, commercial districts and space for healthcare and educational, economic and other support services.
In addition to affordable housing for seniors, Cowan Place amenities include rooms for a library and theater, fitness studio, salon, billiards, crafts and other spaces for private meetings with health care professionals.
The AHP funds were vital in closing funding gaps to make sure that we could finish construction on this project, said Mary-Margaret Lemons, Fort Worth Housing Solutions president. We could not have finished this project without the money provided by the Federal Home Loan Bank of Dallas and Texas Capital as a partner. It was critical for us to get over the finish line and finish this during COVID, and so it was really a game changer for us to be able to have full funding of this project to get started.
FHLB Dallas awards AHP subsidies through its member financial institutions to benefit very low- to moderate-income households across its five-state District.
These are the type of projects that we get involved in because of the impact that they have on communities such as this; we want to assist in making life better for the individuals, businesses and communities in Fort Worth, said Worley Barker, director of Community Development Lending and Investments for Texas Capital.
Affordable Housing Program (AHP) funds are intended to assist FHLB Dallas members in financing the purchase, construction and/or rehabilitation of owner-occupied, rental or transitional housing, as well as housing for homeless individuals in their community. AHP funds must be used to benefit households with incomes at or below 80 percent of the median income for the area.
It can be difficult to develop affordable housing, and the AHP is a funding source that can help fill the gap to make a deal like this work, said Melanie Dill, community development and AHP rental manager at FHLB Dallas. Not only does the AHP help to fill a funding gap, but it can also help our members create new business opportunities, support their communities and meet CRA objectives.

TEMPE, AZ – MG Properties, a leading real estate investment and management firm, announced its $100.25 million acquisition of NOVO Broadway Apartments (formerly known as Parc Broadway), a residential community located in Tempe, Arizona recently completed by Evergreen Devco, Inc..
Key features of NOVO Broadway Apartments include its prime location in Tempe, offering residents easy access to growing employment centers anchored by large technology, manufacturing, and health care companies. The property’s luxurious amenities, contemporary architecture, and commitment to fostering a sense of community distinguish it as a sought-after residential destination.
“NOVO Broadway Apartments is a high-quality community that is well positioned to benefit from regional employment growth, making it an ideal fit for our long term investment strategy,” said Jeff Gleiberman, President of MG Properties.
The sellers, Evergreen Devco Inc., were represented by Steve Gebing and Cliff David of IPA. Financing for the transaction was provided by Freddie Mac and arranged by Brian Eisendrath and Cameron Chalfant of IPA.

CONROE, TX – Encore on the Rise purchased Encore Rise, for $47.1 million in Conroe, Texas. Located just north of Houston, the contemporary, suburban residential community was acquired by Encore on the Rise on November 15, 2023, with the total Real Property value of $47,100,000. Encore Rise is located at 800 N FM 3083 Rd. W. in Conroe, Texas.
The modern living of Encore Rise incorporates rich amenities into every 1, 2, and 3 bedroom apartment floorplan, including sleek, state of the art kitchens with granite countertops, stainless steel appliances, luxurious bathrooms with soaker tubs and even private patios/balconies.
Within the controlled access property, Encore Rise offers multiple active community gathering spaces with health and recreational amenities such as a fitness center, pool with a sun shelf water feature and a hammock lounge area to kick back and relax. The outdoor entertainment space comes complete with TV, BBQ, bar and gathering space. For pet lovers, Encore Rise offers a dog park and dog wash space.
“Encore Rise raises the bar in contemporary living,” said Joe Hooker, Acquisitions Manager, Encore on the Rise, LLC. “The fast-growing suburban area of Conroe gives residents all the amenities they could want at home with easy access to Houston.”

AUSTIN, TX – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced the start of preleasing at Modera EaDo, a luxury apartment community just east of The Domain, which is commonly referred to as Austin’s second downtown.
The wrap-style community, which features 377 apartment homes at 11604 Stonehollow Drive, is situated less than a mile from The Domain and near a vast array of vibrant dining, retail and entertainment options. The convenient location is also within a short commute of many of Austin’s thriving employment and entertainment districts.
“It’s amazing to witness the transformation of the area surrounding The Domain, which continues to morph from an industrial area to a vibrant mixed-use destination,” said Matthew Bunch, managing director of development in Austinfor Mill Creek Residential. “We’re excited to deliver this development in East Domain, which boasts a prime location in which residents can do a little bit of everything. We’re prepared to offer an extraordinary living experience at Modera EaDo and look forward to welcoming home our initial residents.”
Modera EaDo is positioned in a north Austin locale that is rapidly emerging as a key destination for a wide variety of luxury retailers and top employers. Prominent employers in the area include IBM, Indeed, Amazon, Facebook and Charles Schwab, which features a 50-acre campus immediately adjacent to the community.
The community also sits just east of the future master-planned Uptown ATX site, a massive 66-acre mixed-use redevelopment project, and is within a quarter mile of a proposed CapMetro Red Line station, which will connect with Leander to the north and downtown Austin to the south.
Modera EaDo offers studio, one-, two- and three-bedroom homes with select homes featuring private yards along an urban trail. The community is constructed with energy efficiency and sustainability in mind and received a Green Building rating from Austin Energy. Community amenities include an expansive 2,700-square-foot, club-quality fitness center open 24-hours, a resident clubhouse with a gaming area, indoor/outdoor social kitchen and music room, resort-inspired pool with water features and tanning ledge, poolside cabana, Zen courtyard, outdoor kitchen with gas grills, high-speed community-wide bulk WiFi and an electronic key fob system. Residents will also have access to Luxer One package lockers, dedicated bike storage and a dedicated bark park with connecting pet spa. Modera EaDo will also offer a self-service Grab-and-Go market from Impulsify, providing Point of Sale packaged snacks, meals, beverages and other convenience items.
Apartment interiors are delivered with a variety of deluxe features, including two sophisticated finish schemes, nine- and 10-foot ceilings, wood plank-style flooring, stainless steel appliances, granite countertops, 42-inch custom cabinetry, under-cabinet lighting, and in-home washers and dryers. Select homes include wine fridges, private patios or balconies, linen closets, double-vanities, powder baths and walk-in showers.

MARLBOROUGH, MA – National multifamily real estate development leader Wood Partners has officially announced the start of construction on Alta French Hill, the company’s latest upscale residential community, located in Marlborough, Massachusetts. Pre-leasing opportunities are set to commence in 2024, and the community is scheduled to welcome residents in February 2025.
Situated at 303 Lincoln Street and neighboring the Assabet River Rail Trail, Alta French Hill will provide residents with convenient access to Route 20 and I-495, allowing for easy travel throughout all parts of the city and the 495 corridor. The property’s prime location will also offer seamless access to a variety of everyday conveniences, such as Hannaford Supermarket, Starbucks, Dunkin Donuts, Walgreens, Planet Fitness, and Marlborough’s favorite shopping and dining destination, Solomon Pond Mall, featuring numerous stores and restaurants, and the Apex Entertainment Center, which offers 80,000 square feet of game and entertainment space. Additionally, residents of Alta French Hill will find themselves within walking distance to a diverse range of retail, dining, and entertainment options.
“Massachusetts has a housing shortage and we need new housing of all types,” said Ed Augustus, secretary of the Executive Office of Housing and Livable Communities. “The 276 apartment homes in this collaborative enterprise by Wood Partners, Marcus Partners and the city of Marlborough will provide a much-needed boost to housing in a key area of the city. The inclusion of 28 affordable units and use of a variety of sustainable and green technologies also exemplify a smarter way to build, while at the same time helping Marlborough comply with the MBTA Communities Law.”
Alta French Hill’s strategic location guarantees residents convenient proximity to a plethora of prominent employers in the vicinity. With easy access to major companies such as Quest Diagnostics, G.E. Healthcare, Raytheon, Boston Scientific, TJX Companies, Hologic, Sunovion, and more, residents will find themselves well-connected to the thriving employment landscape of the region.
“Backed by construction lender Eastern Bank and equity partner Marcus Partners, Alta French Hill represents a key milestone in our commitment to providing new and exciting housing options in Boston’s MetroWest. Following successes like Alta Union House in Downtown Framingham and Alta Oxbow in Wayland, this project strategically fills a crucial gap in Marlborough,” says Jim Lambert, Managing Director and Partner for Wood Partners. “Offering upscale housing within walking distance to Downtown sets us apart from previous commuter-centric developments along I-495, reflecting our dedication to enhancing the residential landscape in MetroWest.”
“This project reflects our commitment to partner with local communities and the Commonwealth to create critically needed housing,” said Levi Reilly, Principal and Head of Development for Marcus Partners. “At the same time, we appreciate the opportunity to do so in a meaningful way, using new technology to advance sustainability goals.”
Once construction is complete, Alta French Hill will offer 276 apartment homes, encompassing a diverse range of custom-designed floor plans, including one-bedroom, one-bedroom with den, two-bedroom, and three-bedroom apartments. Each residence will display an array of attractive features and materials, such as modern stainless-steel appliances, kitchen countertops crafted from quartz, complete in-unit washer and dryer sets, and wood-style flooring in both the kitchen and living room areas.
Community residents can also enjoy a range of shared amenities, including a state-of-the-art fitness center, resident lounges, a tech lounge, and two beautifully landscaped courtyards with a swimming pool, games, grilling areas, and a dog park. Complementing these features, the property showcases nearly 10,000 square feet of retail space, inclusive of dedicated work-from-home offices. Looking ahead, Wood Partners intends to develop a 22-space surface parking lot and amenity building — both to be owned and operated by the City and accessible for public use.

LOS ANGELES, CA – From The Jagger’s distinctive sawtooth roofline to its apartment’s smart home technology everything about The Jagger is cutting edge. That edge comes with an abundance of comfort, convenience, and community. The new luxury apartments have recently begun leasing with top amenities, a sophisticated design, and an exceptional location on Overland in the Culver City-West Los Angeles area.
The hip apartment design features floor to ceiling windows so that light reflects off the polished concrete flooring and the stainless-steel appliances. Residents can choose between a variety of studio and one-bedroom floorplans or choose a luxurious penthouse with soaring 19-foot ceilings and windows over ten feet high.
The Jagger boasts a stunning interior atrium, a spacious rooftop sundeck, and breathtaking views of Westside, DTLA, and Hollywood. The generous coworking space is complete with private meeting rooms, along with a resident lounge that offers high-speed community Wi-Fi.
The apartment amenities include in-unit washers and dryers, smart thermostats, skylights, air conditioning, and private balconies. Keyless entry eliminates the concern of misplacing your keys, while off-street parking alleviates the hassle of searching for a parking spot. The community is pet friendly, so residents can bring along their best friends.
High-tech conveniences include Parcel Pending lockers for resident packages, ButterflyMx for secure and convenient community entrance, and multiple EV Charging stations. The REMM Group provides resident-focused on-site management and maintenance.
Sara D’Elia, The REMM Group CEO, said: “The Jagger offers more than a beautiful place to live. It’s designed to foster a creative, exciting urban community. With BBQ dining on the rooftop sundeck, a serene courtyard, and a work and community center, it’s a place to make friendships, entertain guests and brainstorm the next big idea.”

REVERE, MA – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced construction is underway at Modera Revere Beach, a contemporary apartment community located on the oldest public beach in the U.S.
Modera Revere Beach, which will feature 357 apartment homes, will offer magnificent 360-degree water views in a relaxed beach setting. Consisting of two residential buildings atop a shared podium, the community is positioned in the greater Boston metropolitan area and within walking distance of the vibrant commercial heart of Revere Beach. First move-ins are anticipated for fall of 2025.
“Modera Revere Beach will offer the unique dynamic of a tranquil beach setting not too far removed from Boston’sthriving entertainment and employment centers,” said Tim Alexander, managing director of development in Boston for Mill Creek Residential. “We believe the community will quickly become a best-in-class offering with its thoughtful finishes and refined suite of amenities, and the unique location will add further appeal for discerning renters. We look forward to joining the Revere Beach community.”
Situated at 550-560 Revere Beach Boulevard, the community will offer ocean views to the east and overlook the inland waterway to the west. Residents can access Revere Beach Boulevard and easily connect to Route 1A, which provides connectivity up and down the North Shore of Boston. A community shuttle will provide access to the Wonderland station on the MBTA Blue Line, which provides direct access to Boston in a 10- to 15-minute commute.
Modera Revere Beach will offer studio, one-, two and three-bedroom homes with select den layouts and an average size of 901 square feet. The community will be built to, and is pursuing, a LEED Silver Certification. Community amenities will include a resort-inspired swimming pool on an elevated courtyard level with ocean views, rooftop deck, grilling area, fire pit, outdoor dining area, resident clubhouse, game room, pool table, coffee bar, dedicated dog run, pet spa and a club-quality fitness center with cardio equipment, individual TVs, group fitness area and yoga/Pilates studio. Residents will also have access to a conference room, private workstations, co-working spaces, digital package lockers, controlled-access garage parking, EV charging stations, bike storage and additional storage space.
Home interiors include nine-foot ceilings, wood plank-style flooring, stainless steel appliances, quartz countertops, tile backsplashes, moveable kitchen islands, breakfast nooks, walk-in closets, built-in desks and in-home washers and dryers. Bathrooms will include tile shower surrounds with double vanities and linen closets in select homes. Smart features will include a key fob system, programmable thermostats, controlled guest-access technology, smart leak detection and bulk WiFi.

RALEIGH, NC – Wood Partners, a national leader in multifamily real estate development, in partnership with PGIM Real Estate, announced the grand opening of their latest residential community, Alta Town Center, located in Raleigh, North Carolina.
Located in Northeast Raleigh at 6501 Town Center Drive, Alta Town Center is situated in one of the Triangle s fastest growing areas. With quick access to both I-540 and Capital Boulevard, residents will benefit from excellent connectivity throughout the Triangle. In addition, the community is located within minutes of an abundance of retail options.
“We are thrilled to see Alta Town Center come to life as we welcome residents to our new extraordinary property in Raleigh, said Caitlin Shelby, Managing Director for Wood Partners. We are confident that Alta Town Center will provide an exceptional living experience by combining high-quality amenities, comfortable homes, and a convenient location. We look forward to seeing residents thrive and create lasting memories here.”
Alta Town Center offers 336 apartment homes comprised of one-, two- and three-bedroom floor plans. Homes will feature stainless-steel appliances, granite countertops, tile backsplashes, in-unit washer and dryer sets, large walk-in closets, and sizeable balconies.
Alta Town Center also offers a wide range of attractive amenities, including a resort-style pool with poolside cabanas, outdoor grilling and lounge areas, outdoor fitness equipment, and an on-site pet park and pet spa. Inside the community club house, residents will enjoy a state-of-the-art fitness center, coworking spaces, and areas to mingle, such as the hospitality bar and game room.
PGIM Real Estate invested in Alta Town Center through Impact Value Partners (IVP), its private equity impact fund that invests in affordable housing and transformative development in the U.S.