CORAL SPRINGS, FL – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera Coral Springs Phase II, a contemporary mixed-use apartment community in the heart of Coral Springs.
The community, which will feature 353 homes and 32,280 square feet of retail space, joins the 351-home original phase that began welcoming its first residents in July. The communities are the key residential component of the Cornerstone at Downtown Coral Springs development, which is adding a variety of new living, dining, retail and entertainment options to the city’s busiest corner. Coral Springs Phase I and II will be built to, and are pursuing, an NGBS Silver Certification. First move-ins at Phase II are anticipated for fall 2025.
“When Phase II is complete, local renters will have access to more than 700 apartment homes and approximately 40,000 square feet of retail space,” said Andrea Rowe, senior managing director of development in South Florida for Mill Creek Residential. “We believe these offerings will add tremendous value to the epicenter of the city, and we’re thrilled to be part of the epic Cornerstone at Downtown Coral Springs development. With Phase II, we are not aiming to duplicate the original phase, but to offer a distinct set of amenities and a unique-but-similarly-refined living experience.”
Situated at 3310 University Drive, the second phase of Modera Coral Springs is positioned directly east of Coral Springs’new City Hall building, just north of the recently completed Downtown ArtWalk and within a short drive of the Sawgrass Expressway, which links to Florida’s Turnpike and provides connectivity to the greater South Florida area. Firmly amidst the area’s most prominent entertainment and employment centers, the community also offers near-direct access to The Walk of Coral Springs, Promenade at Coconut Creek, Tradewinds Park and many additional attractions.
The additional phase will offer one-, two-, and three-bedroom homes with select den layouts and an average size of 1,021 square feet. A distinct set of community amenities at Phase II will include three elevated courtyards with manicured landscaping, a resort-style swimming pool in one of the courtyards, an elegant multipurpose clubhouse overlooking the pool deck, outdoor barbecue stations, museum-inspired lobby and mailroom, coworking spaces and a club-quality fitness facility.
Home interiors will be similar to those of the original phase, including nine-foot ceilings, wood plank-style flooring, stainless steel appliances, quartz countertops, tile backsplashes, programmable thermostats, central heating and air, walk-in closets, in-home washers and dryers and private patios or balconies. Bathrooms will include tile shower surrounds, soaking tubs, double vanities and linen closets.

SAN ANTONIO, TX – 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 formation of a joint venture partnership with ITOCHU Corporation to acquire Creekside Terrace, a 100-unit build-for-rent (BFR) single-family community currently being developed by Pulte Homes, the third largest home builder in the country.
ITOCHU Corporation is one of the largest Japanese sogo shoshaa, or general trading and investment companies, founded in Japan in 1858. According to the 2023 Fortune Global 500 list, ITOCHU is the 96th largest company in the world, with annual revenue in excess of $103 billion.1
“Capital Square is thrilled to partner with one of the largest corporations in the world to acquire Creekside Terrace, a build-for-rent community near San Antonio, Texas,” said Louis Rogers, founder and co-chief executive officer of Capital Square.
Creekside Terrace is a 100-unit purpose-built single-family BFR rental community, located just minutes from Interstate 35. Part of an exceptional master-planned development of new homes, the community features a pool, pavilion and park with convenient access to nearby shopping and dining. These three- and four-bedroom, open-concept homes offer upscale interiors and contemporary amenities for growing families in the burgeoning New Braunfels, San Antonio area. The community will provide a high-quality rental housing option to the almost 19,000 new residents who moved to San Antonio last year.
“Capital Square continues to invest in the acquisition and development of build-for-rent communities throughout Texas and the Sunbelt,” said Dave Platter, managing director and co‑head of private equity at Capital Square. “As a firm, we continue to source opportunities in the I-35 corridor between Austin and San Antonio. We believe Creekside Terrace will present a welcoming community for young families looking for the benefits of single-family living without the high costs and headaches associated with homeownership today.”
Build-for-rent communities, comprised of single-family homes purpose-built for renting, have become an increasingly popular asset class among institutions and individual investors. Demand for this rental option is growing exponentially among residents who seek a single-family lifestyle, the financial and leasing flexibility of a rental with the amenities and convenience of a professionally managed property.
The U.S. has chronically underbuilt housing since the Great Financial Crisis and requires an additional 4.3 million housing units by 2035 to meet the demand for rental housing, according to the National Multifamily Housing Council. Demand for build-for-rent homes continues to increase with professionally managed communities offering one of the best solutions for the shortage of quality, affordable housing. Institutionally owned and operated build-for-rent communities represent less than 5% of the overall U.S. housing stock, paving the way for long-term, sustainable growth for the asset class.
“We are pleased to partner with Capital Square on Creekside Terrace and look forward to working with Capital Square on future acquisitions,” said Hideyuki Matsukawa, senior vice president and general manager of general product and realty division at ITOCHU International Inc.

DOUGLASVILLE, GA – Vista Residential Partners and Batson-Cook Development Company have completed the sale of a 300-unit garden apartment community known as Sweetwater Vista Apartments.
Sweetwater Vista Apartments was the first new multifamily development delivered to Douglas County in over a decade. Spacious floor plans, top-of-the-line amenities, and a bucolic atmosphere bordering the 2,500-acre Sweetwater Creek State Park were among the numerous reasons why the community stood out from its competitors.
In addition, residents can enjoy a large clubhouse, resort style pool, spacious dog park, and open green spaces throughout the property. This community was a part of Vista’s corporate commitment to provide high-quality housing with attainable rents to a burgeoning submarket. Located on Riverside Parkway, Sweetwater Vista provides convenient access to both I-20 and the I-285 corridor, along with being 15 miles from Hartsfield-Jackson International Airport and 12 miles from Midtown Atlanta.
“Sweetwater Vista proved to be another example of Vista’s strong ability to identify underserved housing markets,” said Michael Neyhart, Chief Investment Officer of Vista. “The demand proved to be even stronger than we had forecasted, and the submarket continues to see robust investment activity in both commercial and residential developments.”
Synovus Bank provided construction financing for the project. A joint venture among BCDC and Blue Vista Asset Management LLC., Eduardo de Guardiola’s Family Office, (principal and founder of Vista), provided the equity.
“BCDC aims to partner with the best development teams in the country, and that was the case with Vista Residential Partners, who had the vision and delivered an outstanding community,” said Litt Glover, President and CEO, BCDC. “Sweetwater Vista’s performance, combined with its exceptional amenities and prime location, created an ideal opportunity for investors seeking to expand their portfolio. We congratulate the new Owner on its acquisition.”

HOUSTON, TX – The trendsetting coliving multifamily project UNITi Montrose is topped out in Houston’s Montrose district. The nine-story building developed by Civitas Capital Group’s residential development subsidiary The Shelter Companies will soon provide attainable rental housing in one of the most desirable submarkets of Houston. Constructed by general contractor Arch-Con Corporation, UNITi Montrose will be one of the first coliving developments in Houston, offering 161 private rooms within 48 shared suites. This is in addition to 190 traditional studio, one-, and two-bedroom units.
“Our team has spent more than five years researching and learning about coliving communities across the globe,” says Jorge Adler, Civitas’ Vice President, Investments. “For coliving concepts to work in the United States, and in Texas specifically, it is essential to find unique locations that are easily accessible by public transportation, within walking distance to a plethora of amenities, and within a short commute to major employment centers.”
Located at 701 Richmond Ave., UNITi Montrose is within two miles of the largest medical center in the world, downtown Houston, Rice University, the University of St. Thomas and three miles from the University of Houston.
The Shelter Companies is specifically focused on developing attainable forms of housing. They tapped Common, a leading operator of coliving communities in North America, to be the property manager for UNITi Montrose. Based in New York City, Common currently operates more than 5,000 units in 11 major cities. The average age of a Common renter is 29 and 50% are new to the city in which they live.
“Common was formed around the idea of coliving and has perfected every aspect of operating these types of properties,” Adler said. “From the way they market the buildings, to their leasing process, to how they curate community, there is no one better.”
UNITi Montrose will be fully furnished with amenities including routine cleaning services, basic household supplies, in-unit laundry, resident events at the property and larger events at the city level. Common will begin preleasing in the second quarter of 2024 and UNITi Montrose is on track to open in the summer of 2024.
UNITi Montrose has 155,901 square feet of multifamily living on a 1.09-acre site. Six floors of multifamily sit on top of a 104,533-square-foot, three-level cast-in-place parking garage. Designed by Meeks Partners, the development includes 10,708 square feet of amenities, balconies, a fourth-floor pool and courtyard, a ninth-floor lounge and roof-top deck with views of downtown, and 3,822 square feet of retail space on the ground floor.

ATLANTA, GA – GID, a real estate owner and fiduciary that invests in multiple asset classes, has announced the acquisition of ARIUM Vinings Station, a 315-unit community located in Atlanta, GA, which will be rebranded as Windsor Vinings.
Located in the highly coveted Vinings submarket of Atlanta, the community offers direct access to I-285 and Atlanta Road, offering residents a quick commute to Atlanta’s largest employment nodes, including Cumberland/Vinings, Perimeter Center, Buckhead, Midtown/West Midtown, Downtown and Hartsfield International Airport.
The garden-style community also offers a dog park, pool, fitness center, grilling areas, clubhouse, tennis court, and a business center.
GID plans to renovate all classic and partially renovated residences (~60%) with modern finishes, along with updates to the fitness center, pool area, tennis court, dog park, and leasing center, delivering a resident experience that goes beyond the ordinary.
“We look forward to growing our portfolio in the Vinings submarket of Atlanta,” says Greg Bates, CEO, GID. “This property fits with our strategy of acquiring well-located garden-style communities with 9-foot ceilings in supply-constrained, high-growth submarkets.”
GID is a leading real estate investment and management firm that operates a diverse portfolio of multifamily, industrial, and mixed-use developments across the United States. With over 60 years of experience across multiple asset classes, GID is an established real estate private equity investor and fiduciary supported by an integrated operating platform with approximately 54,000 multifamily units and over 25M square feet of industrial and commercial space of assets under management.

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.