SAN JOSE, CA – Urban Catalyst, a real estate fund manager and developer based in San Jose, California, has launched a new fund, UC Multifamily Equity I LLC (UCME). UCME focuses on the development of a 272-unit luxury apartment building named Aquino. Located within walking distance of Downtown San Jose s western edge, Aquino is next to the site of Google s planned Downtown West campus and within walking distance of the SAP Center and Diridon Station, one of the West Coast s busiest transit hubs. The project is fully entitled and approved for multifamily construction.
Aquino will consist of studio, one-, two-, and three-bedroom units with stainless steel appliances, quartz countertops, electric ranges, and air conditioning. Residents will have access to private co-working offices, a bar and lounge, a fitness center with a yoga studio, a dog run, and a courtyard with an outdoor kitchen.
Historically, multifamily demand has vastly exceeded supply in the San Jose metropolitan area, putting upward pressure on rents and keeping the occupancy rate high. Due to the highly restrictive development policies throughout California, the San Jose metro s 2023 multifamily construction pipeline — the number of units slated for completion by the end of this year — is smaller than 18 major U.S. metros, according to CBRE data.
The San Jose metro s average multifamily occupancy rate was 95.7% at the end of Q1 2023, higher than the national average of 94.5%, CBRE data show. Multifamily rents in the Bay Area s South Bay subregion, which includes the San Jose metro, are projected to increase 47% in the next decade, according to Yardi Matrix data. The South Bay s projected rent growth exceeds that of Austin, Nashville, Phoenix, and several other major U.S. multifamily submarkets, Yardi Matrix data show.

HOUSTON, TX – Venterra Realty acquired the Avasa Spring Branch community located in Houston, Texas. The 361-unit, three-story multi-family community was built in 2023 and offers modern one, two, and three-bedroom mid-rise residences that range from 613-1475 square feet in 21 unique floor plans. The apartments feature granite countertops, stainless steel appliances, larger soaking tubs, and ample closet space along with an excellent amenity package.
Residents can enjoy Avasa’s best-in-class amenity package, spending time in either of the two well-appointed pool areas with grilling areas and social spaces. Additional on-site amenities include a state-of-the-art fitness center, connected yoga/spin studio, clubhouse, and more.
Located on Brittmoore Rd., near the intersection of I-10, the property offers easy access to prominent employment hubs including Memorial City, City Center, Westchase, and the Energy Corridor, and all the shopping, dining, and activities in the area.
Venterra will implement its resident-focused programs such as the Live it. Love it. Guarantee.TM, the 48-Hour Maintenance Guarantee, and SMARTLEASING.
“We have seen excellent growth in the Houston area and are excited to expand our Texas portfolio with the addition of Avasa Spring Branch,” 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 Spring Branch by implementing Venterra’s customer-focused management platform,” added Venterra Chairman, Andrew Stewart.

PALM SPRINGS, CA – Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer, announced the acquisition of Sunnyview Villa in Palm Springs, Calif., a community of one- and two-story buildings reserved for residents earning between 30% and 60% AMI. CPP s renovation and investment will renew the property s affordability status for an additional 55 years.
Located at 2950 N. Indian Canyon Road in North Palm Springs near the historic Racquet Club West neighborhood, the 44 units at Sunnyview Villa will undergo extensive renovations to improve residents quality of life.
Sunnyview Villa was built in 1980 and has experienced deferred maintenance over the years. Improvements to the apartment interiors will include installation of new kitchen cabinets and countertops, low-HOV vinyl flooring, Energy Star appliances and energy efficient lighting. Exterior renovation will include new roofing, energy efficient lighting in common areas and painting of all structures. Additional work will upgrade the ADA path of travel to be compliant.
Technological improvements include the addition of a computer room, security video surveillance, in-unit wireless internet, a social coordinator and transportation options.
CPP is partnering with LifeSTEPS to create a program for residents health and wellness. Services include effective educational and supportive services designed to maximize resident strengths and build resilient communities.
The value that LifeSTEPS brings is a big part of the community s renovation, said Karen Buckland, Vice President of Development at CPP. We have worked with the organization in the past and they have proven to be integral in setting up an important support system for residents.
CPP s total development investment is expected to be approximately $20.7M, with a purchase price of $11.25M and an expected renovation investment of approximately $89,000 per unit. Renovations are expected to be completed in December 2023.
Development partners on the project include WNC & Associates, which is providing 4% tax credit equity, bond issuer California Municipal Finance Authority and Red Stone Equity Partners. It is through partnerships like these that CPP is able to provide essential social services to residents, support neighborhood initiatives and transform multi-family affordable housing communities.

MIAMI, FL – GID, a real estate owner and fiduciary that invests in multiple asset classes, has announced the acquisition of Altís Ludlam Trail from The Altman Companies, a 312-unit, wrapped-style community located in Miami that will be rebranded as Windsor Ludlam Trail.
The community features a roof-top heated swimming pool with a sun deck and poolside cabanas, a fitness center with cardio and yoga rooms, a game lounge, movie theatre, business center, and flex work-from-home spaces.
Located in the West Miami submarket of Florida, with proximity to major thoroughfares Highway 826, 836, and US Route 1, the community is uniquely positioned adjacent to the Ludlam Trail, a 6.2-mile linear greenway connecting a vast network of 30,000 residents, five schools, six parks, and nearly 50 acres of green space. The Ludlam Trail also serves as a major alternative transportation option for non-vehicular travel to the Blue Lagoon and Dadeland office markets.
“The Altman Companies are proud to have developed Altís Ludlam Trail into a premier residential community with a strong emphasis on sustainability and an exceptional living experience,” said Seth Wise, CEO of The Altman Companies. “As we transition ownership to GID, we have full confidence that they will uphold the same standards of excellence and further enhance the community for its residents.”
“This strategic move reflects our unwavering commitment to expanding our portfolio and offering exceptional living experiences to our residents,” said Greg Bates, President and CEO of GID. “With the acquisition of Altís Ludlam Trail, we are poised to set new standards for resident satisfaction, create a positive impact, and solidify our position as a leader in the real estate industry. We look forward to greeting our residents and building lasting partnerships with the local community.”

LOS ANGELES, CA – Cityview, a premier multifamily investment management and development firm, has completed Jasper, a 296-unit opportunity zone project located less than two miles from downtown Los Angeles and adjacent to the University of Southern California.
The highly amenitized, mixed-use community is now open for leasing and offers a variety of studio, one and two-bedroom floor plans, including 25 units designated very low affordable and three designated moderate income affordable.
Jasper is bringing nearly 300 units of much-needed housing, including affordable units, to an area experiencing an extreme shortage, said Sean Burton, CEO of Cityview. Located in a vibrant neighborhood with easy access to jobs, higher education, transit and entertainment, Jasper offers extensive amenities that foster resident well-being and connection.
Located at 2528 S. Grand Ave., Jasper is situated at the nexus of Downtown Los Angeles and the rapidly growing University Park East, where vintage shops, eclectic restaurants and craft cocktail bars are surrounded by world class cultural and educational institutions, including the soon to open $1 billion Lucas Museum of Narrative Art. Previously, the project site housed a defunct bookbinding factory and other unused industrial buildings.
Jasper features two expansive rooftop sky decks offering outdoor dining and Korean BBQ grills, an entertainment terrace and sweeping views of Downtown Los Angeles. A lush, resort-style pool deck features cabanas, loungers and daybeds, while a quad area includes a game lawn, billiards, a built-in outdoor pizza oven and expansive communal spaces for outdoor dining and entertaining.
For those who work remotely, a large CV Works business center offers community workspace, individual desks equipped with USB charging ports, private work areas and meeting rooms. Turnkey fiber optic internet and Wi-Fi create strong connectivity throughout the community, while a residents-only app keeps residents informed.
Residents can relax and recharge on the rooftop quiet deck, which features day beds, tables and greenery. Jasper s two-story club room has a custom commercial grade kitchen for community-hosted cooking classes and private as well as semi-private events. A pet-friendly community, Jasper is home to a large dog park as well as an onsite dog spa and wash.
Designed for livability, Jasper is built to LEED Silver standards, with an expected 20-30% improved efficiency over similar non-green buildings. It features Title 24 and Energy Star appliances as well solar thermal, which replaces fossil fuels to heat the building s hot water. The community s stormwater is taken to a drywell that recharges the groundwater supply, while motion and timing sensors, high efficiency plumbing and HVAC systems conserve additional water and energy.
A transit-oriented community, Jasper boasts a walk score of 91, a transportation score of 92 and sits one block from the 23rd Street Metro Station.
Cityview partnered with AC Martin, WPIC Construction, Nadia Geller Designs and Labib Funk and Associates on the project, which created more than 1,000 jobs.
In addition to Jasper, Cityview is nearing completion on The Parker, a 123-unit multifamily development in the heart of Los Angeles, and will complete Belle on Bev, a 243-unit multifamily project in Los Angeles Historic Filipinotown (HiFi), later this year. It also recently commenced construction on South Bay X, a 265-unit multifamily project in Los Angeles South Bay.

SAN DIEGO, CA – Affirmed Housing, a leading developer of affordable housing throughout California, announced the completion of The Helm, a new, mixed-income, affordable housing community for households earning 30 – 80 percent of the area median income (AMI). Located in the Cortez Hill neighborhood, The Helm delivers nearly 50,000 sq. ft. of sustainably minded, middle- and low-income workforce housing to Downtown San Diego.
Having an affordable place to call home isn t about just a roof over your head, it s the foundation of a thriving community, said San Diego Mayor Todd Gloria. The Helm is proof that we can build exceptional apartment communities that are affordable and integrate seamlessly in our neighborhoods. Partners like Affirmed Housing understand what it takes to get projects like this done, and I look forward to even more in the future as we work together to address our housing crisis.
The seven-story, GreenPoint Rated building features 77 affordable studio apartments for residents and one two-bedroom manager apartment, as well as community space and on-site amenities designed to foster resident interaction and engagement. The studios, which range from 283 to 489 sq. ft., house varying income levels: 32 are set for those earning 30 percent AMI, four set at 60 percent AMI, and the remaining 41 are for households at 80 percent AMI. The 30 percent AMI studios receive project-based vouchers issued by the San Diego Housing Commission. Supporting The Helm s emphasis on green living is a first-floor bicycle shop that opens to Beech Street, taking advantage of the protected cycle tracks running along the street and providing seamless access to several off-site amenities in the area. Situated just steps from Little Italy, The Helm is walking distance to retail, restaurants, grocery stores and access to public transportation.
The Helm helps San Diego fulfill its goals and deliver on commitments that prioritize its core values – fostering the health, economic prosperity and well-being of all citizens, said Affirmed Housing President Jimmy Silverwood. This development not only delivers much needed workforce housing, but it promotes inclusive living and supports a healthy economic ecosystem – and it also happens to be affordable. I m proud of what Affirmed Housing and our partners have accomplished with The Helm.
The Helm is Affirmed Housing s first development serving a majority of residents at 80 percent AMI and its first project to utilize Mixed Income Program funding from CalHFA. The company leveraged various types of funding and credit sources for the project s development, including federal and state equity funds, Mixed Income Program funds from CalHFA, funds from the San Diego Housing Commission, deferred developer fees, bonds issued by the City of San Diego, and conventional loans from U.S. Bank and California Community Reinvestment Corporation.
Affirmed Housing s development partners for The Helm include Carrier Johnson + CULTURE, HA Builder, Kettler Leweck Engineering, form/work Landscape Architecture, NOVA Services, Power Plus, MA Engineers, KPFF Engineers, Elen Consulting, Inc., US Bank, California Community Reinvestment Corporation, California Housing Finance Agency, San Diego Housing Commission, City of San Diego, the California Debt Allocation Committee and the California Tax Credit Allocation Committee.

RALEIGH, NC – Wood Partners, a leading national multifamily real estate developer, announced the grand opening of its newest high-end residential community, Alta Vale, located in Raleigh, N.C. The property hosted a grand opening celebration for neighbors and residents.
Located at 4710 Mint Leaf Lane, Alta Vale sits just outside the Raleigh Beltline (I-440), with quick access to the Lake Boone medical office corridor, Umstead State Park, and the new Bandwidth headquarters. In addition, residents will benefit from being within minutes of an array of retail and dining options, and having direct, on-site access to Raleigh’s Greenway Trail system.
“Wood Partners is thrilled to announce the grand opening of Alta Vale, an exceptional community that we believe offers a rare combination of great access to major employment hubs within Raleigh, while being surrounded by green space,” said Caitlin Shelby, Managing Director at Wood Partners. “Our motto at Alta Vale is ‘discover how natural city living can be.’ We think residents will enjoy having a quick commute to work or school, while being able to retreat to nature when the day is done.”
Alta Vale offers 306 unique apartment homes consisting of custom-designed studio, one-, two- and three-bedroom floor plans. Each home features high-end fixtures and finishes, including kitchens complete with stainless steel appliances, white quartz countertops, spacious kitchen islands, modern cabinetry, and elegant white subway tile backsplash. Throughout the home, residents will enjoy large walk-in closets, spacious balconies, in-unit washer and dryer sets, and USB outlets.
Across the community, Alta Vale offers a variety of amenities for its residents to enjoy, such as outdoor lounges featuring a resort-style pool and firepits, comfortable seating areas, outdoor kitchen, hammock grove, and pet park and spa. Inside, residents can take advantage of the community’s spacious indoor/outdoor fitness center, co-working spaces, and game room.

MYRTLE BEACH, SC – Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced the $64.4 million acquisition of Artisan Carolina Forest, a 276-unit multifamily community in Myrtle Beach, S.C. This transaction represents HGI’s second acquisition of a newly built multifamily property in one week following the acquisition of The Warner in Austin, Texas.
Located directly off Highway 31, Artisan Carolina Forest is central to Myrtle Beach’s ample recreation and leisure offerings, including miles of coastal beaches, resorts, golf courses and restaurants. The community is adjacent to the Marketplace at the Mill, a shopping center providing a variety of nearby retail options for residents, and is in proximity to several medical centers that serve as key employers to the area.
“With affordable rents relative to other high-growth coastal cities, Myrtle Beach is one of South Carolina’s most attractive multifamily markets,” said Yisroel Berg, Chief Investment Officer – Multifamily. “As a newly developed luxury community, we anticipate substantial opportunity to attain a strong renter base at Artisan Carolina Forest and achieve steady rent growth as the area continues to attract new residents.”
Developed in 2022, the community features a premier amenity package, including a resort-style pool with a TV lounge and cabanas, a dog park, electrical vehicle charging stations, a fitness and yoga center and coworking and conference rooms. Apartment interiors include luxury finishes, oversized kitchen islands, walk-in showers, modern backsplashes and dual vanities.

RIVERSIDE, CA – JPI, a leader in the development of Class A multi-family communities, announced that vertical construction has begun on The Exchange at Riverside, which will bring 482 homes to Riverside, California. The milestone was celebrated with a Golden Hammer ceremony on the jobsite.
The three-story luxury multi-family development will offer 1-, 2-, and 3-bedroom homes to residents as well as several live/work units. The homes will offer energy-efficient stainless-steel appliances and electric ranges, private tiered balconies, 9-foot ceilings, and a full-sized washer and dryer.
Residents will also enjoy two resort-style pools accompanied by cabanas and outdoor firepits, an outdoor kitchen, coworking lounges, a state-of-the-art fitness center, a dog park, a bicycle storage and repair room, and electric vehicle charging stations.
“We are very blessed to be welcomed by the Riverside community and are excited about this project,” said Payton Mayes, CEO of JPI. “Every project has a story, and there are so many people who played a role in the story of The Exchange at Riverside. We are so grateful for each and every one of you, and are excited to see this project come to life.”
The Exchange at Riverside will provide convenient access to the award-winning downtown Riverside with the Fox Performing Arts Center, Convention Center, UCR Arts, Riverside Plaza, and Mission Inn & Spa. The Exchange at Riverside also offers outstanding access to education, as it is conveniently located close to the University of California Riverside, which boasts over 26,000 students.
Within one mile of The Exchange at Riverside, you can find the historical 209-acre Fairmount Park which includes Lake Evans, Fairmount Lake, and Fairmount Park Golf Course. Also, within 2 miles of the community sits Mount Rubidoux, a 161-acre hill rising above downtown with hiking trails and panoramic views of the city, and the Santa Ana River trail which is being expanded to reach 110 miles from the Pacific Ocean to the mountains in San Bernadino.
The community will be ideal for commuters as the Metrolink Station is located two miles southwest of the property, providing access to various locations in the area including downtown Los Angeles or Irvine in less than 90 minutes. The office for the County of Riverside, the largest employer in the county, is also located 1.5 miles from the community and employs over 23,000 residents.
“This project means so much to the Northside neighborhood,” said Erin Edwards, Councilmember of Ward 1. “I am thrilled that we can celebrate new housing opportunities here in our city. Adding 482 units to our housing inventory does more than just help us reach our housing goals, it shows we have a growing community where neighborhoods can thrive. I look forward to welcoming my neighbors to the community when it’s complete.”

ATLANTA, GA – 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 Westside Trail, a luxury midrise apartment community in Atlanta’s West Midtown neighborhood.
The community, which will feature 373 apartment homes, will sit in a bike-friendly locale that features immediate access to the Westside Trail of the Atlanta BeltLine and the vast contingent of breweries, music venues and eclectic local establishments contained within West Midtown. Modera Westside Trail is also located across the street from the west boundary of the Georgia Tech campus and its new life science incubators and one block south of the new Echo Street West mixed-use development. First move-ins are anticipated for fall 2025.
“The location on Northside Drive is the natural progression of West Midtown moving south with the benefit of an easy escape to Midtown, Downtown and Georgia Tech,” said Patrick Chesser, senior managing director of development in Atlanta for Mill Creek Residential. “As great as the Atlanta Beltline is at stitching together neighborhoods on the east side, the Westside Trail is a game-changer linking landmark mixed-use developments to the Georgia Tech campus and all the Downtown venues. If you’ve ever explored the Beltline by bike, you realize quickly how connected the west side is becoming and how much it has to offer.”
Situated at 576 Northside Drive, Modera Westside Trail will feature stunning 360 views of the Atlanta skyline and contains a superb Walk Score of 87 (considered “very walkable”). Residents will be within five minutes of the thriving employment sectors of Midtown, Atlantic Station and downtown Atlanta, and accessible commuter options include the BeltLine and MARTA. Additionally, popular athletic venues Mercedes Benz Stadium, State Farm Arena, Bobby Dodd Stadium and McCamish Pavilion are all within a five-minute commute.
Modera Westside Trail will offer studio, one-, two- and three-bedroom homes including 37 Premium Collection homes with upgraded features. Community amenities will include a resort-inspired swimming pool, landscaped pool courtyard with unobstructed views of Midtown, rooftop deck with fire pit and grilling areas, steam room, co-working space, double-height resident clubhouse with shuffleboard, onsite dog park, pet spa and a club-quality fitness center with cardio equipment, yoga studio, TRX system and Peloton bikes. Residents will also have access to digital package lockers, controlled-access garage parking, EV charging stations, loaner bikes, bike repair station, bike storage and additional storage space.
Home interiors will feature nine-foot ceilings, wood plank-style flooring, stainless-steel appliances, quartz countertops, tile backsplashes, gas ranges, walk-in closets, in-home washers and dryers, soaking tubs and tile tub/shower surrounds. Smart features will include Schlage smart door locks, keyless entry, connected smart thermostats, bulk WiFi and mobile-app guest entry. Premium Collection homes will include LED mirrors and additional refined features.