SAN MARCOS, CA – Affirmed Housing, a leading provider of affordable and supportive housing throughout California, announced that construction has commenced on Estrella, an approximately 79,510-square-foot, affordable housing development serving families in need in the City of San Marcos. The complex will provide 96 apartments to low income families earning between 30 and 80 percent of the area median income (AMI).
Estrella is a win for the City of San Marcos and its citizens, said San Marcos Mayor Rebecca Jones. Between Estrella and the adjacent Alora development and working with outstanding community partners to help ensure smooth project delivery, we are adding nearly 200 units for working families and low-income residents – and all within walking distance of many public services, stores and other businesses. What s good for our more vulnerable residents is also good for the whole of San Marcos.
Estrella will be comprised of four residential buildings, each with a shared laundry facility, with a mixture of one-, two- and three-bedroom apartments. Two three-bedroom units are reserved for Estrella s on-site property managers. A separate community building provides residents access to several shared amenities, including a kitchenette, computer room, barbecue area and bicycle parking. Four tot lots and a teen recreation area will also be incorporated on the site. The development s sustainable design will feature the latest energy-saving and water-wise technologies and best practices.
Once complete, this new housing development will contribute to families living well in North County. Twenty-five of the homes here will be set aside for extremely low-income families, said County of San Diego s Housing and Community Development Services Director David Estrella. Housing is health, and as the County s Health and Human Services Agency, we rely on strong partnerships to build healthy communities, and that s what we have here today with the City of San Marcos, Affirmed Housing, and so many other supportive partners.
A total of 171 parking spaces will be available, including eight that will be EV ready. All of Estrella s tenants will also have access to complimentary, on-site services intended to support families in need, including computer training and resume building resources and programs dedicated to health and wellness, financial literacy and parenting. A service coordinator will be present to organize and plan community-building activities, such as holiday events, for residents.
In addition to the conveniences and comfort Estrella will provide its occupants, the site is located in close proximity to several off-site resources that enhance seamless livability. Within walking distance are grocery stores, a pharmacy, a neighborhood library, public parks and access to public transportation. A middle school sits adjacent to the complex.
Housing and care are fundamental elements to maintaining the health and wellness of the region, and Estrella is a demonstration of the city and county s investment in its people, said Jimmy Silverwood, president for Affirmed Housing. Estrella provides affordable housing, infrastructure and recreational facilities to enhance the lives of hard-working families and individuals, as well as the broader community. We re proud to work with partners who share our vision of ensuring housing for all people.
Estrella follows the development of Alora, a separate, Affirmed Housing-produced affordable community currently under construction next door to Estrella. To boost the region s critically needed housing supply, Affirmed Housing demolished an existing 70-unit development on the property (formerly Mariposa) and recorded a new parcel map to make way for both projects. The redevelopment will result in a net gain of 66 new affordable apartments at Estrella and 60 new affordable apartments at Alora.
Affirmed Housing s development partners for Estrella include the City of San Marcos, the County of San Diego, WNC, Banner Bank, DAHLIN Group Architecture Planning, Masson and Associates, and form/work Landscape Architecture.

MIAMI, 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 Aventura, a contemporary mixed-use apartment community in the emerging Ojus neighborhood of northeast Miami-Dade County.
The community, which will feature 420 apartment homes and 6,400 square feet of ground-floor retail, sits adjacent to booming Aventura, a planned suburban city along the Intracoastal Waterway approximately 15 miles north of Downtown Miami. First move-ins are anticipated for summer 2025 with a second phase in the planning stages.
“Aventura has received international acclaim as a premier living destination with a multitude of shopping and entertainment opportunities,” said Andrea Rowe, senior managing director of development in South Florida for Mill Creek. “We are extremely excited to get started on this community, particularly given the shortage of land available for new development in the immediate area and the booming South Florida market, in general. We are eager to help address the growing need for quality housing in the area and look forward to delivering a top-of-market experience.”
Situated at 2681 NE 191st Street, Modera Aventura is located between Biscayne Boulevard and the West Dixie Highway in a former industrial area amidst a vibrant revitalization. The community, which features a superb Walk Score of 89, is a few blocks south of a new Brightline train station and within a short drive of Interstate 95, the gateway to the greater metropolitan area.
Modera Aventura, which will be built to NGBS silver certification standards, will feature studio, one-, two- and three-bedroom homes with select den layouts and an average home size of 951 square feet. Community amenities will include a swimming pool, grilling areas, outdoor kitchen, landscaped courtyards, resident clubhouse, pool table, community-wide WiFi, coworking spaces, private workspaces, conference room, onsite dog park and a club-quality fitness center with cardio equipment and group fitness area. Residents will also have access to valet dry cleaning, dedicated bike storage, a bike repair station, digital package lockers, controlled-access garage parking and EV charging stations.
Apartment homes will be delivered with a variety of sophisticated features, including nine- and 10-foot ceilings, wood plank-style flooring, Energy Star stainless steel appliances, quartz countertops, tile backsplashes, 42-inch custom cabinetry, smart thermostats, built-in bars, full-size washers and dryers, mobile-app entry and large private terraces. Bathrooms will feature soaking tubs, tile tub/shower surrounds, double vanities and linen closets.
Modera Aventura will mark Mill Creek’s 10th development community within Miami and 16th in the South Florida market.

KNOXVILLE, TN – MZ Capital Partners, expanding its Knoxville Tennessee asset footprint, has announced the purchase of the Residences at Devanshire, an 87 single family home rental community.
Knoxville is one of the best rental real estate investment markets in the nation. Occupancy in the Knoxville market has ranged from 95% to 98% over the past five years. Over the last year, occupancy levels have exceeded 97%. The Knoxville occupancy rate ranked #1 among the 66 key South region markets and #9 among the top 150 markets nationally.
Located in the West Knoxville sub-market, the 87 Single Family Homes, built in 2006, feature 3 bedrooms and 2 full baths with back porches or patios, attached garage parking, and private back yards with mountain range views.
The acquisition provides a unique opportunity for increased cash flow and appreciation in value through more efficient institutional quality management and a value-add renovation and repositioning program.
MZ Capital Partners, headquartered in Northbrook, Illinois is a demographically driven real estate investment firm with a specialty niche in multifamily assets throughout the United States.

AUBREY, TX – Affiliates of Harbor Group International (“HGI”), a privately owned international real estate investment and management firm, announced the acquisition of Mezzo, a 378-unit, Class A multifamily property in Aubrey, Texas. Built in 2022, Mezzo consists of twelve three-story buildings and a clubhouse.
Mezzo is located in a rapidly evolving submarket of North Dallas that has experienced a significant 326% increase in population since 2000. This coincides with a time of considerable business development in North Dallas. Located approximately three miles from the Property, the PGA of America recently completed its headquarters and is building two additional mixed-use developments. Furthermore, the Property is conveniently surrounded by a variety of dining options and entertainment, including golf courses and shopping centers.
The close proximity to employment hubs and neighborhood attractions make Mezzo well-positioned to meet the community’s growing need for high-quality multifamily accommodations.
“The Mezzo acquisition is a testament to HGI’s suburban investment approach and ability to identify opportunities in fundamentally strong markets across varying market conditions,” said Richard Litton, President, HGI. “The area has seen an influx of renters migrating from more expensive areas of Texas, and we expect Mezzo to see high occupancy rates in the coming years as the desirability of Aubrey, Texas continues to attract residents to the area.”
Mezzo benefits from state-of-the-art amenities throughout the property and individual units. This includes a fitness center, yoga studio, resort-style pool and spa, as well as co-working spaces, a resident lounge, an outdoor kitchen and dining area. In-unit interiors include Whirlpool appliances, quartz countertops, washer-dryer sets, spacious closets, European-style cabinetry, and balconies or patios.
Since Mezzo’s opening in February 2022, the Property has experienced a consistent flow of move-ins on a monthly basis during its lease-up period. Mezzo is 84% occupied as of April 2023.
Newmark facilitated the transaction, with Henry Stimler, Bill Weber and Matt Mense arranging the debt and Brian Murphy and Brian Oboyle brokering the sale.

MINNEAPOLIS, MN – Turner Impact Capital, one of the nation s largest real estate investment firms dedicated to social impact, has expanded its efforts to address the country s urgent housing affordability crisis with the acquisition of its first multifamily housing community in the Minneapolis metropolitan area.
Acquisition of the 207-unit Urbana Court Apartments in Brooklyn Park, Minn., closed today as one of the final investments of Turner Multifamily Impact Fund II. The purchase enables Turner Impact to bring its innovative market-driven housing solution for low- and moderate-income families to a fast-growing Minneapolis community with convenient access to job opportunities, healthcare, and schools.
The Turner Multifamily Impact Funds have acquired, preserved, and enriched approximately $2 billion of critically-needed housing for working individuals and families located in densely populated, ethnically diverse metropolitan areas throughout the U.S. These investments represent nearly 13,000 units of workforce housing nationwide, serving residents earning up to 80% of area median income while generating strong risk-adjusted financial returns for its institutional investors. Residents include community-serving professionals such as teachers, police officers, healthcare workers and others who often earn too much to qualify for subsidized housing but struggle to afford higher-cost housing located near job centers.
As rents rise and recession concerns mount, we must ensure that working families have access to stable, affordable, and high-quality housing in major metropolitan areas, Turner Impact CEO Bobby Turner said. We continue to expand our housing initiatives, and Urbana Court presents an opportunity to bring our successful model to one of the most dynamic markets in the Midwest.
Urbana Court is a newly built apartment complex with a large community center, 24-hour fitness center, pool, pickleball courts, playground, and underground heated parking. The units feature a wide range of appliances and full-size washers and dryers, and as part of Turner Impact s sustainability initiatives, the Fund has identified ways to reduce energy and water use.
Minneapolis has the largest metropolitan economy in the region after Chicago, where Turner Impact also has significant housing investments. Brooklyn Park is located just north of the city, near the largest health-technology cluster in the country, known as medical alley, and major employers such as Medtronic, Target, and Amazon, as well as easy access to jobs in downtown Minneapolis and St. Paul.
Turner Impact s holistic approach to workforce housing also entails enriching residents quality of life with demand-driven essential on-site services in education, health, safety, and other areas that help build a sense of community. These include after-school tutoring programs, exercise and nutrition classes, community watch programs, and more.
We are excited to expand our impact to greater Minneapolis and are actively pursuing additional investments in the market, said Gee Kim, President of Turner Impact s Multifamily Housing Initiatives. We welcome and look forward to opportunities to contribute in a meaningful way to the housing solution in this key part of the country.
Housing initiatives are a core component of Turner Impact Capital s holistic approach to social impact investing. Since 2016, Turner Impact has raised more than $650 million in equity for its first two housing funds – Turner Multifamily Impact Funds I and II – and has recently launched a third fund, Turner Multifamily Impact Fund III. The new Fund is the firm s largest to date, targeting between $750 million and $1 billion in total commitments. The Fund has already received strong interest from both U.S. and international investors and will build on the work of its predecessor funds to preserve and enrich workforce housing through the acquisition of existing affordable rental housing at scale.
Turner Multifamily Impact Fund III will also pursue the development of new affordable housing through public-private partnerships, as well as opportunistic investments in and recapitalization of workforce housing projects resulting from market dislocations.
Turner Impact has recently accelerated its expansion by hiring Gary Rodney, a national housing leader, as Managing Director for Housing Initiatives. Rodney joined Turner Impact from Tishman Speyer, where he launched the firm s first affordable housing platform, and earlier served as Chairman of CREA, a national syndicator of low-income housing tax credits, as well as President of the New York City Housing Development Corporation.

CARY, NC – Wood Partners, a national leader in multifamily real estate development, together with its partner Trei Real Estate, announced that it has broken ground on Alta Ivy, a 300-unit apartment community in Cary.
Centrally located in the Raleigh-Durham-Chapel Hill “Triangle”, Alta Ivy will provide residents with modern amenities in close proximity to the ample employers within Cary, Raleigh, and Durham. Alta Ivy is located minutes away from Research Triangle Park (RTP), which is the largest research park in the United States with over 50,000 highly-skilled jobs, and soon to be home of the new, highly anticipated, Apple campus.
“Wood Partners is thrilled to bring a community of the highest quality to this submarket, which is one of the most desirable in the area in part because of its excellent proximity to major employers” said Caitlin Shelby, Managing Director at Wood Partners. “Residents will have quick access to all that the Triangle has to offer while enjoying a peaceful sense of community.”
The community will offer a mix of one-, two- and three-bedroom floor plans. Each home will include top-of-the-line finishes including stainless steel appliances, quartz countertops, tile backsplash, in-home washer and dryer, and wood-style flooring throughout the kitchen, living room and bathrooms.
Alta Ivy will feature many attractive amenities including a courtyard with saltwater pool, 1.5 acres of preserved open space, a dog park, a large public art feature, and a well-appointed clubhouse including 5,000 square feet of office space.
The community is expected to begin leasing in early 2024.

DAVIE, FL – Award-winning developer El-Ad National Properties, an Elad Group company with a South Florida-based team, is bringing its expertise and exceptional reputation to Davie, Florida with its upscale 2.8 million-square-foot mixed use rental residential apartment and commercial project named The District in Davie. This is the largest multifamily project in Davie’s history.
Situated in a premier location convenient to Fort Lauderdale and Miami’s urban core, The District in Davie is minutes north of The Guitar Hotel at Seminole Hard Rock Hotel & Casino. Therefore, this contemporary new project is touted as the new “front door to Davie,” appealing to young professionals and more.
Expected to be a one-billion-dollar project, construction is slated to begin by mid-2023, and pre-leasing is expected to commence in early 2025. Anticipated completion of the first phase is 2025. The architect is Cooper Carry of Atlanta, one of the top architecture firms in the U.S.; the landscape architect is internationally renowned EDSA of Fort Lauderdale.
Located at 4801–4999 S. State Road 7, Davie, Florida, The District in Davie will encompass five multifamily towers, constructed over three phases. It will include 1.6 million square feet of Class A residential apartments within approximately 1,256 units, curated indoor and outdoor amenities, 36,000 square feet of restaurants and retail, and modern conveniences. Approximately 1.1 million square feet of access controlled onsite parking will be available within 2,650 parking spaces.
“This project is a game-changer for Davie, by providing much-needed modernized residential living opportunities close to nearby universities, medical facilities and employment hubs such as the airport and seaport,” said El-Ad National Properties CEO Noam Ziv. “Redeveloping the area by replacing a dated shopping center with a modern community provides a greatly enhanced tax base for the town.”
“The District in Davie is a trailblazing, defining milestone for the town and is an example of our commitment to working with developers such as El-Ad National, who approach new projects in the appropriate zoning as opportunities and destination points for the community,” notes Davie Mayor Judy Paul.
The Davie project’s five buildings will range from 20–24 stories, each offering thoughtfully designed studio, one-, two-, and three-bedroom apartments, some with dens. Unit sizes range from approximately 589 to 1,460 square feet. Each unit offers keyless entry, high-speed Internet, and smart thermostats.
Each building will entice with pool and 24-hour fitness/spa treatment room amenities, a penthouse level Sky Lounge reservable for indoor and outdoor entertainment with kitchen and seating, and ground floor storefront spaces for resident conveniences. Planned lifestyle amenities include pet-friendly features such as bark parks and grooming stations, game lounges and children’s play suites, as well as multiple work-from-home accommodations including co-working spaces and meeting rooms.
Offering the quintessential South Florida lifestyle, inviting outdoor social spaces include rooftop pools, outdoor kitchens, fire pits, and green spaces for outdoor yoga, games, and movies. Planned green elements are electric vehicle charging stations in garages, complimentary bicycle parking/storage areas, and LED lighting technology for energy efficiency.

JERSEY CITY, NJ – In partnership with Rockwood Capital, Citizens Bank and Fifth Third Bank, National Association and G&S Investors, The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, has broken ground on a 401-unit multifamily apartment development in the Port Liberté neighborhood of Jersey City.
Located at 190 Chapel Ave., the community is just south of downtown Jersey City, and adjacent to Liberty National Golf Course. The development will provide a new highly amenitized living opportunity with proximity to ample green spaces, bike pathways and the renowned Liberty State Park. Residents can take advantage of short commute times with convenient access to the city’s extensive multi-modal transportation network and connectivity to downtown Manhattan, including a short ferry trip to Wall Street.
Jersey City continues to invest in its infrastructure and foster the conditions for growth, said Jonathan Gertman, Senior Vice President of Development at The NRP Group. Port Liberté as an established community is a vibrant and desirable destination for residents. I m thrilled to bring new multifamily development to the area alongside our excellent partners who are committed to continued investment in Jersey City.
Joint venture equity investment for the project was provided by Rockwood Capital, marking NRP s first-ever partnership with the seasoned investment firm. G&S Investors, an experienced owner and developer in Jersey City, is co-developing the project with NRP. Citizens Bank and Fifth Third Bank provided senior construction loans.
At present, building housing in America is challenging, said J. David Heller, Principal, President and Chief Executive Officer at The NRP Group. Participating in strategic partnerships that bring deep expertise and experience is the driving force behind penciling deals and seeing them across the finish line. NRP is committed to working with financial partners and communities that are as invested in providing vital housing as we are.
The community, which is scheduled to open in the summer of 2025 will be NRP s second development in Jersey City, one of the nation s fastest-growing cities.

GEORGETOWN, TX – The Hacienda at Georgetown opened its doors to independent living residents and celebrated its official grand opening with a soft opening of the public-facing Alma by Stephan Pyles restaurant and a ribbon cutting ceremony for The Hacienda attended by residents, prospects, and the public.
“We expect full licensure in our assisted living and memory care programs in the coming weeks and have quite a few residents waiting to move in,” said Michael Graham, Partner at MedCore. Located on 13 acres at the south entrance to Sun City Georgetown, The Hacienda at Georgetown offers an unmatched lifestyle for sophisticated seniors desiring catered living and amenities.
Alma by Stephan Pyles, which was creatively inspired by James Beard award-winning chef Stephan Pyles, is scheduled to open to the public on May 1 and is currently serving residents of The Hacienda. Chef Pyles is working directly with the culinary team at Watermark Retirement Communities, the manager for The Hacienda at Georgetown, to oversee the operations of five different dining venues on the campus. Alma will serve residents of The Hacienda, Georgetown, and the entire hill country region.
In addition to The Hacienda at Georgetown’s extensive culinary offerings, the community will offer a robust suite of programs and amenities including a specially designed outdoor amphitheater and a fully equipped wellness center with a salon, spa, club rooms, fitness center, theater, meditation garden and a luxury resort-like pool with cabanas and outdoor cantina.
“We have been fortunate to receive an outpouring of interest in The Hacienda from citizens of Georgetown as well as others from around the region and state,” added Annika DiNovi, Executive Director for The Hacienda. “Our forward-thinking programs and amenities complement the already intriguing architectural design for seniors who desire enhanced lifestyle options.” Residents of The Hacienda can enjoy oversized patios, a dog park, putting greens, garage and carport parking, on-site physician, health and wellness instruction, virtual reality programs, a second-floor entertainment space overlooking the resort pool, palm-scanning access control, hearing aid loops, and many other next-generation features.
The Hacienda at Georgetown was developed by MedCore Partners, a Dallas-based healthcare real estate group, The National Realty Group, a Houston-based full-service commercial and industrial real estate company, and Houston-based Asaz, Limited. Tulsa-based ACRON USA provided LP Equity for the project, with bank financing from the Seniors Housing Division of BOK Financial. The development team anticipates a second phase independent living expansion in the future.

ATLANTA, GA – ECI Group (ECI) announces the sale of The Columns at Paxton Lane apartments at 4305 Paxton Lane in Southeast Gwinnett County to InterCapital Group for an undisclosed price. The 296-unit community was developed by ECI in 1996 and has been owned and managed by the company throughout that time.
“The Columns at Paxton Lane, which ECI developed, owned, and managed for more than 25 years, demonstrates the successful execution of a business plan in which our entire team participated,” said ECI Group CEO, Seth R. Greenberg. “ECI intends to re-invest the proceeds from The Columns at Paxton Lane into a newer multifamily property. Once the re-investment plan is completed, realizing the investment of an older property into a more current property, that deal will mark the 6th such exchange transaction completed by ECI in the past approximately two years.”
The Columns at Paxton Lane is located in one of the fastest-growing submarkets of suburban Atlanta and has benefited since its original development from the addition of nearby Gwinnett County job centers including the Piedmont Eastside Medical Center, Sugarloaf Corporate District, Tucker Office Core, the 700,000 square foot Amazon Fulfillment Center and major industrial parks in the I-85 and I-285 corridors.
Residents of the community have also gained access to a growing amenity base with new mixed-use developments and retail centers located within minutes of the property. Community amenities include a central mail kiosk, dog park, swimming pool with cabana area, playground and picnic area, lighted tennis courts, detached garages for some units, and an internet café.
ECI extends its appreciation to Mike Kemether, James Wilber, and Megan Turner of Cushman & Wakefield for their representation of the seller.