Urban Genesis is in charge of building 360 mixed-iincome apartments in the Southpark Meadows neighborhood of Austin. The Austin Business Journal reports Travis County Facilities Corp. (TCFC) is working with Urban Genesis on the Coop at Southpark Meadows. Once the Coop at Southpark Meadows finishes, 72 units and 108 units will be set aside for households earning up to 60% and 80% of the median area income. The remaining 180 units, all one-bedroom, will be market-rate units. TCFC is leasing the project’s land to Urban Genesis for development. The first unit delivery is slated for August of this year.

The neighborhood includes a mix of other apartment projects and a regional shopping center. The roughly 1.6-million-square-foot retail hub includes a Walmart Supercenter and Target.

The NRP Group recently broke ground on its own 348-unit community close by in partnership with the Housing Authority of Travis County. first unit delivery for August of this year.

HEDK Architects is the designer.

McDowell Housing Partners (MHP) closed on financing to build Ekos at Warrington, its first affordable housing community in Pensacola, FL. It’s McDowell Housing Partners’ 17th project to start construction in the state of Florida. The 120-unit project’s estimated costs are $41.9 million.

The community will serve a mix of income levels. The development will provide community services in partnership with a local services coordinator, Opening Doors Northwest Florida.

Ekos at Warrington is financed through a combination of tax-exempt bonds, SAIL/ELI funding from FHFC, and 4% non-competitive Low-Income Housing Tax Credits (LIHTC). CREA serves as the tax credit investor, and R4 Capital is the construction and permanent lender. 

The project team for Ekos at Warrington includes Park & Eleazer Construction as the general contractor, Slocum Platts Architects as the architect of record, and Kim Do as co-developer

Ekos at Warrington is expected to be completed in the third quarter of 2027.

Advantage Capital has come up with more than $53 million in state low-income housing tax credits to support the development and rehabilitation of three communities in the metro area. Altogether, these projects would deliver more than 600 units of affordable housing and cost more than $200 million to build.

Two new residential developments will rise in Southwest Atlanta’s Greenbriar neighborhood.

The Atlanta Business Journal reports the Flats at Stone Hogan is slated to feature 256 affordable housing units available to households earning less than the area median income. The adjacent Villas at Stone Hogan development would comprise 192 affordable units reserved for lower-income renters aged 55 and older. Zimmerman Properties is in line to deliver both communities. The projects would cost approximately $100 million and $70 million to develop, respectively.

Additionally, Advantage Capital’s investment will help fund the roughly $20 million revitalization of Applewood Towers.

Applewood Towers redevelopment should be completed by the end of 2025. The two new-construction developments lining Stone Hogan Connector Road are expected to wrap in mid-2027.

Windsor Stevens has raised $56 million for a multifamily development on Atlanta’s Westside. The Proctor, located at 698 Oliver St. NW, will have 137 residential units, 41 of which will be affordable.

The 41 affordable units will be in a Class A luxury mixed-income, mixed-use property building, serving households earning at or below 80% of the area median income. These units will be designated for AH’s Housing Choice Voucher recipients for at least 30 years.

The project units will average 813 square feet, and the building will also include 10,000 square feet of ground-floor retail space. Development at The Proctor will be funded by various public and private partners, including a $4.1 million investment by Atlanta Housing. Other investment partners include a $26.1 million loan from Goldman Sachs, AUDC, Basis, and Rod Mullice and a $3.2 million Invest Atlanta TAD Grant.

A groundbreaking ceremony for The Proctor is anticipated for early November, and construction is expected to be complete in May of 2026.

General contractor Swinerton completed its sixth project with OneStreet Residential, HearthSide Riverdale. The demolition of the existing single-family homes on the 2.64-acre site in the South Atlanta suburb of Riverdale, Ga. is underway. The $16.4 million construction project is expected to be complete in early 2026. 

Located at 6795 Powers Street, HearthSide Riverdale includes 70 one- and two-bedroom apartment homes in a single-building community. With twelve units available at market rate, the remaining 58 are reserved as affordable housing for senior residents earning less than 60 percent of the area’s median income. The gated complex features a community room, laundry room, fitness center, garden beds and pet-friendly amenities. A 700-square foot bistro brings dining and hospitality amenities to the residents and the surrounding community. 

As the general contractor, Swinerton oversees the demolition, ground-up construction, finishings, landscaping and hardscaping. The multifamily development was designed by Boulder, Colo.-based DTJ Design. 

Multifamily residential developer Laurel Street started work on Springhouse Square, a new mixed-income, multi-generational apartment development located at 3800 Shamrock Drive in east Charlotte. The first units will be available by spring of 2025, and the project will be fully delivered by the end of 2025. 

The 10-acre Springhouse Square includes three different apartment communities offering a range of housing options for families and seniors of all incomes. With 236 total apartments, Springhouse Square will provide 136 affordable units ranging from 30% AMI to 80% AMI, as well as 100 market-rate units.  

The total development cost of Springhouse Square is approximately $68 million.

City of Charlotte Housing Trust Fund, two funds managed by LISC Fund Management, the Charlotte Housing Opportunity Investment Fund and the Black Economic Development Fund, the North Carolina Housing Finance Agency, Red Stone Equity Partners, CRBT, the Banc of America Community Development Corporation, Crescent Communities, Prudential and TD Bank all played a role in financing the project. Shook Kelley designed the project (photo).

Banyan Residential and Bridge Investment Group, has welcomed first move-ins at Banyan Flats, a 289-unit apartment community just west of downtown Dallas. Among one of the city’s first Public Facility Corporation projects, Banyan Flats will offer qualifying residents rent-restricted pricing on 50% of the building as part of the program.

The development, which is in a designated Opportunity Zone, is part of the Dallas Public Facility Corporation program—a Texas public facility corporation and public nonprofit corporation—that seeks to develop and preserve mixed-income workforce housing communities that serve residents earning at or below 80% of the area median income and provide non-income-restricted units.

Located at 2022 N. Beckley Avenue, Banyan Flats offers a wide selection of apartment types, including micro-units, studios, one-, two-, and three-bedroom units ranging from 415 to 1,425 square feet. The residences are complemented by first-class amenities, including one of Dallas’ most unique resort-style pools and a fitness center, clubhouse, dog wash, and rooftop deck.

Pennrose Development along with Atlanta Housing will soon begin work on the second phase of Herndon Square. The project will deliver another 170 units of affordable housing to the city and as well as 31 market rate units, located one mile north of Mercedes-Benz Stadium. The project is slated to cost $112 million. 30% of the project was paid via a subsidy from Atlanta Housing.

Herndon Square Phase 2 will feature one-, two- and three-bedroom apartment units, about 85% of which will be priced at 30-80% of metro Atlanta’s area median income (AMI). The development is also slated to include an enclosed parking deck, wellness clinic and an interior courtyard and green space.

A 10,000-square-foot commercial space is also planned for Phase 2. Phase 2 is scheduled to be completed in time to move in residents in the spring of 2026.  

Pennrose develops and operates conventional, affordable, mixed-income, and mixed-use communities throughout the United States.