WASHINGTON, DC – The District of Columbia Housing Finance Agency (DCHFA) made its third affordable housing investment of the month with the issuance of $30.5 million in tax exempt bonds and underwrote $20.1 million in federal Low Income Housing Tax Credit equity for the construction of Ontario Place (2400 Ontario Road NW) in Adams Morgan.
The work that Jubilee does is amazing. They transform what was once uninhabitable into fertile ground. stated Christopher E. Donald, Executive Director/CEO, DCHFA at the groundbreaking of Ontario Place. Additional financing for Ontario Place is being provided by the DC Department of Housing and Community Development in the form of $23.8 million loan from the Housing Production Trust Fund.
Ontario Place is a $61.4 development that will offer 52 units, with 26 of them reserved for returning citizens. The returning citizens will be former residents of Jubilee s KEB (adjacent sister property) and participants of Jubilee s existing Supportive Housing programs, or graduates of similar non-profit led reentry programs. Additionally, the 26 set aside units will provide long-term housing options for returning citizens, as well as reunited families.
The new four-story building will consist of efficiency, one-, two-, and three-bedroom affordable housing units leased to tenants earning up to 50 percent of area median income. Ontario Place will include the first residential aquaponics system in the District. The produce from the aquaponics system will be offered to residents and used in the preparation of free daily meals for KEB residents. Ontario Place is being developed in accordance with Jubilee s Justice Housing model, which focuses on providing affordable housing in high opportunity neighborhoods with nearby services. Jubilee s Justice Housing model focuses on four goals: Housing Stability, High Sense of Community, Financial Security (including Education as a pathway), and Improved Health Outcomes.
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.

WESLEY CHAPEL, FL – Venterra Realty recently acquired the Avasa Grove West community located in Wesley Chapel, Florida. The 330-unit, multifamily community was built in 2023 and offers modern one, two, and three-bedroom garden-style residences that range from 782 – 1563 square feet in eight unique floor plans.
Located in the fast-growing area of Wesley Chapel, Florida, the community is approximately 20 miles north of downtown Tampa, along Interstate-75. The property is directly adjacent to The Grove at Wesley Chapel and Krate, two large retail developments that boast an array of unique shopping and dining experiences for residents to enjoy.
The apartments offer high-end unit interiors that feature quartz countertops, stainless steel appliances, prep islands, large soaking tubs or stand-up showers, ample closet space, and screened-in patios. The property provides renters with a best-in-class amenity package that includes a resort-style pool area, complete with pergolas, poolside grills, a California kitchen and TVs, our 24/7 fitness center, a Yoga / Spin studio, and an upscale clubhouse.
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 Tampa metropolitan area, and are excited to expand our Florida portfolio with the addition of the amenity-rich property Avasa at Grove West,” 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 Avasa Grove West by implementing Venterra’s customer-focused management platform,” added Venterra Chairman, Andrew Stewart.

FLEMINGTON, NJ – Enclave at Raritan, a brand new apartment community that combines modern comfort and style with everyday convenience, all in one campus, recently opened its doors.
“Enclave at Raritan is the realization of a vision we had of everything a resident could ever need being available in one walkable campus,” Jack Cust, Cust Investments Chairman, said. “We have brought an urban living experience to Hunterdon County, which is an exceptional place to live. The new apartment community enhances that experience with features and events suited to every renter’s individual tastes.”
Professionally managed by Greystar, Enclave at Raritan is a four-story wrap-style community with 200 residences that come in one- and two-bedroom layouts as well as two-bedroom with den floorplans. Wrap-style communities are built around an interior parking garage that provides same floor access without having to go outside.
The luxury campus’ main attraction is the HealthQuest athletic facility that features indoor and outdoor pools, a children’s gymnastics studio, dance studios for adults and kids, cycle and Pilates classes, an extensive strength training space, sauna, showers and a restaurant. The walkable campus also houses anything residents could possibly need from a grocery store to restaurants to dry cleaning.
Enclave at Raritan is situated within Hunterdon County, which is an exceptional place to live. According to the county’s Economic Development and Tourism agency, Hunterdon County has been named the healthiest county in New Jersey for 8 consecutive years and ranks in the top 3 percent of all counties in the country in which to live in. Hunterdon is close to four major international airports and is just 30 minutes from the nation’s top university according to U.S. News & World Report, Princeton. The county is also home to a Blue Ribbon school district.
The apartment community’s luxury campus is also close to major employers including Johnson & Johnson, Amazon, Rutgers University, Bristol Myers Squibb, Hunterdon Medical Center, Verizon and IBM, many of which also offer remote work that is perfect for Enclave at Raritan’s offering of in-unit and community work-from-home amenities.
Hunterdon County, located in the heart of Central Jersey, has plenty of recreation options for Enclave at Raritan’s residents, a climbing gym, an ice arena, baseball/softball facilities, as well as a Double-A minor league baseball team and several golf options. The area has plenty of parks, playgrounds and nature trails for hiking, biking and boating opportunities as well as local vineyards and breweries.

DAVENPORT, FL – Sovereign Properties and Invest Capital Group have announced the grand opening of Atlantica at Town Center, the first phase of its two-phased development. They are hosting a ribbon cutting event on September 28th at the property to celebrate the completion of its first phase.
Atlantica at Town Center is located at 1121 Loblolly Lane, Davenport, FL. The 360-unit Class A apartment community offers one-, two- and three-bedroom units ranging from 683 square feet to 1,435 square feet, which are some of the largest units in the area.
The community was designed to give residents a resort-style feel and boasts a large pool area featuring cabanas, an outdoor kitchen, gas grills, outdoor TVs, and more. Other on-site amenities include a state-of-the-art fitness center, a pet park, dog spa, yoga studio, clubhouse with a game room and coffee station, elevators, valet trash stations, Luxor One package lockers, storage units, ample surface parking, attached and detached garages, and 24/7 on-site security.
“We wanted to build a community where residents felt relaxed, comfortable and safe. Sovereign Properties and Invest Capital Group carefully designed and selected all of the amenities and finishes so that the families living there feel like they can call Atlantica at Town Center home,” David Amiel, Investment Manager of Invest Capital Group.
All units have wood-inspired flooring, stainless steel appliances, quartz countertops, shaker kitchen cabinets and walk-in closets. Some units have screened balconies and patios and nine-foot-high ceilings.
The 360-unit property is over 60% leased. The 352-unit second phase, situated on land adjacent to phase one, is scheduled for a late 2023 groundbreaking, with completion anticipated by late 2024.
Atlantica at Town Center contracted the Davenport and in 2018 when there was little development in the area. “We believed that this was going to be the focal point for Davenport, and that’s what it’s become during the past five years,” said Katie Clarke, Sovereign Properties’ Chief Investment Officer.
Situated near Osceola Polk Line Rd. and Old Lake Wilson Rd., Atlantica at Town Center is close to Interstate 4, within a 15-minute drive from Disney World, Universal Studios, Orlando International Airport and Downtown Orlando. Davenportis also close to technology, trade, transportation and logistics employment hubs.
The property is Sovereign and Invest Capital’s second to be built under the Atlantica brand. The first, Atlantica Burleson, was completed in late 2022.
More Atlantica projects are being planned or underway. These include the second phase of apartments in Davenport, Atlantica at Town Center Phase II, as well as Atlantica at Alamo on the west side of San Antonio, TX; and Atlantica at Daytona in Daytona Beach, FL.
Sovereign and Invest Capital Group target growing population and job centers across the Sun Belt market where median incomes are typically higher than the national average, and that offer A-rated school. Most often, the Atlantica brand focuses on locations in secondary markets that are close to larger metropolitan areas.
“Sovereign and Invest Capital Group, have been able to deploy capital and start new construction deals in a very challenging time,” Clarke said. She noted that even as multifamily construction has slowed, Sovereign and Invest Capital continue focusing on developments and unit delivery. “We remain very bullish on multifamily,” she added.

KIRKLAND, WA – Evergreen Impact Housing Fund (EIHF), developer Inland Group, and Microsoft announced the full financing of the Polaris at Totem Lake affordable housing development in Kirkland, WA. Polaris is slated for completion in 2026.
Polaris will create more than 440 apartments that are affordable to people with different levels of income. This will include 260 affordable housing units for households earning 50-60% of the area median income (AMI), and 40 units for very low-income families earning 30-50% AMI. Designed with wrap-around services for those who had been experiencing homelessness, families living in the new development will have access to public transportation and resources through the nonprofit Hopelink, including onsite behavioral health providers to support their transition.
“Access to affordable, stable housing is especially important at a time of economic uncertainty. More and more working families throughout Washington State are facing rising housing costs and growing threats of displacement,” said Kris Hermanns, fund manager of EIHF at Seattle Foundation. “In partnership with local investors and developers, EIHF helps to bridge funding gaps that stall large-scale housing projects with family-sized units. EIHF’s patient, low-interest financing helps ensure the folks who make our communities thrive—our health workers, teachers, store clerks, laborers, and firefighters—can call this region home.”
Microsoft has invested in EIHF since the Fund’s inception and is providing support for various stages of the Polaris project through several programs: land acquisition through the Washington State Housing and Finance Commission (WSHFC), direct construction financing, and permanent financing through EIHF, making it possible for this project to be realized.
“It will take bold leadership, partnership and ingenuity across our community to address the region’s housing and affordability crisis,” said Jane Broom, Senior Director, Microsoft Philanthropies. “EIHF is a great example of how the private, public, and nonprofit sectors can work together to find new solutions that advance affordable housing development. We are pleased to provide much-needed capital to move Polaris forward.”
This is the second collaboration between EIHF and the developer Inland Group, whose portfolio includes 17 affordable apartment home communities across the western United States. “It is challenging to build large-scale affordable housing in Washington State, but working with EIHF and its investors allows projects like Polaris to happen. We’re thrilled that EIHF and Microsoft have stepped up to fill financing gaps,” said John Fisher, Developer at the Inland Group. “Helping working families get access to affordable apartments is truly a group effort and takes creative partnerships.”
WSHFC coordinated the resources for the Polaris project, including the allocation of bond cap and tax credits. WSHFC administers the Expanded Land Acquisition Program (ELAP), a collaboration between the Commission and Microsoft that enables developers to purchase land and improved real property in east King County for affordable rental housing or single-family homes.
The full financing of the Polaris project is a testament to the power of collaboration and the urgent need to address the affordable housing crisis. It stands as an example of how public and private entities can come together to create positive, sustainable change in Washington State.

RICHMOND, VA – Affiliates of Cantor Fitzgerald, a leading global financial services firm and real assets investment company, and Silverstein Properties, a leading global full-service real estate development, investment, and management firm, announced that they have entered into a joint venture with Collins Capital Partners, a nationally recognized real estate firm and Kaufman Jacobs, a real estate private equity firm.
The venture will develop The James at Springline, a mixed-use project including 298 rental units and 28,000 square feet of ground-level retail located in a qualified opportunity zone in Chesterfield County, near Richmond, VA.
The venture simultaneously closed on $53.6 million in construction financing from Truist Bank to develop the project. The investment is part of the first phase of a comprehensive master-planned development known as Springline at District 60, a former shopping center that will be redeveloped into a 42-acre, mixed-use urban village located at the intersection of Route 60 and Chippenham Parkway. Demolition began in March 2023 and construction will occur in multiple phases. The site will include abundant green space and connectivity, with walking and biking trails, wide streetscapes, and structured parking. The groundbreaking of the first phase of development will take place on Thursday, September 28, 2023, with an on-site event.
“We are pleased to partner with Collins Enterprises on this development that promises to have a positive impact on the surrounding community,” said Chris Milner, Head of Real Estate Investment Management at Cantor Fitzgerald Asset Management.
The project site is one of seven parcels that make up the Springline Master Plan. The Chesterfield County Economic Development Authority (“EDA”) purchased the Spring Rock Green shopping center with the intention of creating a walkable urban center that will serve as the anchor of Chesterfield County. The EDA and Collins collaborated with Cooper Carry architectural firm to create the overall master plan. “We have assembled a top-notch team of partners to make this transformational project a reality,” said Art Collins, Managing Principal of Collins Capital Partners.
Phase one of Springline at District 60 is slated to include The James at Springline as well as a 150,000 square feet office building, a festival-like common area, sports tournament and entertainment venue, specialty market and a structured parking facility. Future phases will add more apartments, townhouses, additional commercial space, another office building, a luxury hotel, and entertainment venues. Upon its expected completion in 2025, The James at Springline will feature amenities including double-height lobby with office pods, conference area and fireplaces, interior courtyard with a pool and lounge areas, roof deck with a fitness center, and garage parking. “Springline at District 60 will offer a dynamic live, work and play environment for residents of Chesterfield County and greater Richmond”, said Jeff Sirkin, Managing Director of Collins Capital Partners.
“This will be a new and vibrant community in Chesterfield County and is another good example of the Qualified Opportunity Zone Program helping stimulate investment,” said Alex Cosio, Vice President, Silverstein Properties. “We are confident in Collins’ expertise to develop a project that will offer innovative opportunities and experiences to the area.”
Cantor and Silverstein launched an opportunity zone business in early 2019 to invest in, develop, redevelop and manage a diversified portfolio of institutional quality commercial real estate assets with an emphasis on multifamily properties located in qualified opportunity zones in the United States.
Cantor and Silverstein have a well-established relationship. Notably, the two firms share a historical connection to the tragic events of 9/11 at the World Trade Center and played central roles in the recovery that followed. This joint venture partnership is a natural extension of the companies’ shared history and underscores both firms’ commitment to rebuilding and supporting communities in need.

NASHVILLE, TN – Argyle Real Estate Partners LLC (Argyle), a real estate investment firm focused on multifamily acquisitions in the Southeast and Texas, announced the acquisition of Easton Place, a core-plus community located in the popular Murfreesboro submarket of Nashville, TN. The acquisition marks the Company’s first in the Nashville MSA.
“Given the overall decline in CRE transactions we’ve seen this year, we’re especially pleased to have gotten this deal across the finish line,” said Ryan Reyes, CEO and Managing Partner for Argyle. “Easton Place is a great addition to our portfolio in a submarket that continues to see positive net migration by residents seeking a little more bang for their buck. We look forward to identifying more opportunities in the Music City.”
With a 2019 vintage, Easton Place is an intimate, 184-unit, garden-style community, with attractive curb appeal and best-in-class amenities. Sophisticated unit designs provide generous sq footage, stainless steel appliances, plank flooring, granite countertops, and trendy backsplashes, while upscale amenities include a ‘zero-entry’ pool with cabanas and waterfall lighting, ample green space, a cozy community firepit, lush landscaping, and a premier clubhouse that boasts a movie theatre for residents to enjoy.
“Easton Place had a very compelling business case from a growth and demographics perspective that spurred our decision to pursue the opportunity and market it to our partners,” said Brandon Rosser, Managing Partner for Argyle.
Easton Place sits 35 minutes from Nashville’s central business district, home to major employers such as Amazon, Verizon, General Mills, and Bridgestone. Ascension Saint Thomas Hospital (1,700 jobs) is near the Property, and Vanderbilt University Medical Center, Nashville’s largest hospital, is developing a new facility 5 miles from Easton Place, a factor that may spark future migration to the area.
The Company will deploy a conservative CAPEX plan that includes a minor property refresh, while the business plan, to be overseen by Greystar, will focus on driving lease-ups and maximizing operations.

FALLS CHURCH, VA – National multifamily real estate development leader Wood Partners has officially announced construction is underway on Alta Nova, the company’s latest luxury residential community, located in Falls Church, Virginia. Pre-leasing for the property is anticipated to begin in 2024, with initial units becoming available in early 2025.
Situated at 5851 Columbia Pike, Alta Nova presents an ideal living environment for young professionals and families seeking to immerse themselves in the allure of the Washington, D.C. metropolitan area. Nestled in the heart of Northern Virginia within the Capital Beltway (I-495), Alta Nova will offer convenient access to prominent employment centers, such as the Pentagon, Amazon HQ2, Tysons, RB Corridor, and Washington, D.C.
Residents of Alta Nova will have direct access to a diverse selection of retail, dining, and entertainment options just moments from the community, including MusicBox Karaoke Lounge, Cyber Raccoon Escape Room Fairfax DC, World Market, and a conveniently located Trader Joe’s right across the street. Residents can also enjoy the craft brews of Audacious Aleworks Brewery or unwind at Martini Lounge, Meridian Pint, or Dogwood Tavern. With this diverse range of options, there’s a delightful experience to suit every taste and preference.
Apart from the local attractions in Falls Church, residents will discover an abundance of nearby recreational and outdoor opportunities to explore, including Berman Park, Big Chimneys Park, Crossman Park, and the W&OD Trail.
“With construction currently underway, we eagerly anticipate extending a warm welcome to future residents of Alta Nova in Falls Church, Virginia,” said Ben Lazarus, Managing Director at Wood Partners. “Northern Virginia, home to over 2.5 million residents, is the vibrant heart of the Washington, D.C. metro area, and we are excited to contribute to the enriching landscape of this region with our community.”
Once construction is complete, Alta Nova will offer 364 apartment homes, encompassing a diverse range of custom-designed floor plans, including studio, one-bedroom, one-bedroom with den, two-bedroom, three-bedroom apartments, and three-bedroom townhouses. 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. Within the community, residents also have access to an abundance of communal offerings, including a resort-style pool featuring a sunbathing deck and private cabanas, outdoor entertainment spaces equipped with grilling stations, televisions, and a fireside dining area, a cutting-edge 24/7 fitness center, coworking areas, and a pet spa complete with dog washing stations.

PHOENIX, AZ – Sunstone Two Tree, a developer and operator of rental housing communities in high-growth markets throughout the United States, announced plans to develop three new build-to-rent (BTR) communities in Arizona. The three communities will add more than 550 single-family rental homes to the Phoenix metropolitan area. Sunstone Two Tree now has nine BTR communities totaling close to 1,500 units in various stages of development in the state and remains committed to creating high-quality, attainable living spaces to address the critical shortage of entry-level homes.
“The current economic situation is not only pushing homeownership further out of reach for so many individuals and families, but it is making it even more difficult for developers and builders to add much-needed inventory to the market,” said Scott Maddux, President of Sunstone Two Tree. “We are pleased to start these three new projects despite significant headwinds in the current economic environment. These communities combine the benefits of single-family living (larger units, dedicated parking, private yard space) with the advantages of renting (flexibility, amenities and minimal maintenance responsibilities). The combination of those two qualities really serves to meet the evolving demands of today’s residents.”
Sunstone Two Tree has closed on a 29-acre lot at the southeast corner of Northern Parkway and N. Sarival Avenue in Glendale, Arizona which it will develop with its partner, Capital Square. The 320-unit community will include 102 detached single-family homes, averaging 1,655 square feet, and 218 townhomes averaging 1,257 square feet. Each home will have two stories, direct garage access and a private yard, with many community amenities including a pool, spa, fitness center, parks, BBQs, gated entry and sports courts. Construction is expected to begin October 2023.
Capital Square and Sunstone Two Tree, each with a proven track record of successful real estate ventures, are pooling their resources, expertise, and networks to develop best-in-class rental housing in high-growth markets. Their complementary skillsets and shared vision promise a strategic synergy that will drive innovation and excellence in real estate development.
In addition to the Northern Parkway project, Sunstone Two Tree has received approvals and recently started construction on two other BTR communities in the Phoenix area. On a 7.64 acre lot located at the southeast corner of N. 99th Avene and W. Van Buren Street in Tolleson, Arizona, the company will develop a community of 143 three-bedroom, two story townhomes. They will average 1,350 square feet and each have a two-car garage and private backyard. The company has also received approvals for a build-to-rent community on the northwest corner of S. 91st Ave and W. Lower Buckeye Road in Phoenix. The 5.64 acre lot will become a community of 88 three-bedroom townhomes with attached, two-car garages and private backyards. Amenities at both communities will include pickleball courts, parks, playgrounds and a dog run, clubhouse, pool fitness center and tot lots.
Each of the three communities is conveniently located, with easy access to downtown Phoenix, Sky Harbor Airport, freeways, shopping centers, schools and employers. All of them will be professionally managed and well-maintained by best-in-class on-site property management companies.
Sunstone Two Tree is a developer and operator of rental housing in high growth markets in the United States. Overall, the company has acquired or developed thousands of rental units across the country.

ATLANTA, GA – Atlanta Housing (AH) and its development partner Integral celebrated the groundbreaking of Ashley II at Scholars Landing. Spanning 5.9 acres on the grounds of the former University Homes public housing community, Ashley II is the largest and final rental phase of the transformative Scholars Landing masterplan to close under the $30 million Choice Neighborhoods Implementation Grant (CNIG) awarded to AH and the City of Atlanta by the U.S. Department of Housing and Urban Development (HUD).
This momentous occasion was commemorated in tandem with the grand openings of Ashley IA/B, and The Vine at Scholars Landing, two mixed-income developments comprised of 135 and 72 units respectively. The celebration, which took place onsite, opened with remarks from Mistress of Ceremonies and President of Integral Vicki Lundy Wilbon, Mayor of Atlanta Andre Dickens, Deputy Secretary Adrianne Todman of the U.S. Department of Housing and Urban Development (HUD), and Commissioner of the Georgia Department of Community Affairs (DCA) Christopher Nunn. The event ended with reflections and words of appreciation for a shared vision expressed by both Atlanta Housing President and CEO Eugene E. Jones, Jr. and Chairman and CEO of Integral Egbert L.J. Perry.
The groundbreaking of Ashley II and the celebratory grand openings mark a significant achievement in affordable housing development in Atlanta. Ashley II will include 212 multifamily rental units comprised of one-, two-, three- and four-bedroom apartments with sweeping views. Aligning with Atlanta Housing’s commitment to creating inclusive, vibrant neighborhoods that promote diversity and opportunity, over half of these units will be affordable. An announcement was also made kicking off the partnership’s impending project, The Towns at Scholars Landing, which will feature 40 luxurious townhomes and 36 flats ideal for those seeking to invest in a permanent residence and build generational wealth. Twenty percent of these will be affordable to those at or below 80 percent of Area Median Income (AMI).
“Atlanta Housing is proud to collaborate with the City of Atlanta, HUD, the Georgia Department of Community Affairs and Integral to bring Ashley Scholars Landing Phase II to fruition,” said AH President and CEO Eugene E. Jones, Jr. “This milestone demonstrates our shared commitment to creating thriving, inclusive communities that offer residents access to safe, quality housing and a brighter future.” Under the Choice Neighborhoods Grant, aimed at transforming communities and enhancing the lives of residents, 267 rental units have already been successfully delivered, of which 82 percent are affordable.