New Construction and Development

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JLL Arranges $23M Financing for Lehigh Valley Apartment Project

PHILADELPHIA – JLL announced today that it has arranged $23 million in financing for the development of DREAM Lehigh Valley, a to-be-built, 200-unit apartment complex in the Lehigh Valley community of Wind Gap, Pennsylvania.

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Parkview Financial Provides $28 Million Construction Loan for a 126-Unit, 55+ Apartment Project in National City, CA

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Two Attached Single-Family Home Models Open at Lexington Village in Chicago’s Avondale Neighborhood

Lexington Homes announces the grand opening of two models at Lexington Village at Avondale, a new community of 22 attached single-family homes in the burgeoning Avondale neighborhood on Chicago’s Northwest Side. Homebuyers have begun to move in, and three homes are available for quick delivery.

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Lexington Homes

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THE ALTMAN COMPANIES ACQUIRES LAND, CLOSES LOAN AND HOLDS GROUNDBREAKING CEREMONY FOR ITS TWO NEWEST DEVELOPMENTS IN MIRAMAR

The Altman Companies, a nationally recognized developer of exceptional rental apartment communities, closed on the land and its construction loan and held a Groundbreaking Ceremony for its two newest developments in Miramar. Altman partnered with Rockpoint Group, a Boston-based real estate private equity firm, in the transaction. PNC Bank and Comerica Bank provided the construction loan for the development.

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New Affordable Project from Housing Partnership to be FGBC Certified

ST. AUGUSTINE, Fla. (October 24, 2019) – The St. Johns Housing Partnership has announced that new, affordable rental homes in the Nation’s Oldest City will be certified “Florida Green” by the Florida Green Building Coalition (FGBC).

“Not only do these new residences at 87 Evergreen Ave. feature below-market rent, they will be certified green through the Florida Green Building Coalition, meaning a lower cost of living each month going forward,” said FGBC Board Member Mary Tappouni.

In 2000 FGBC brought together industry professionals from the construction, government, academic and research communities to create green standards tailored specifically to Florida.

The new building will include two apartments — each a three-bedroom one-bath residence with the rent ending up somewhere around $900 per month. A price point is almost unheard of in a housing market where the average 2-bedroom rental goes for north of $1,000 monthly.

SJHP Executive Director Bill Lazar said that he is “very excited” with the start of the partnership’s first new rental project.

“Lisa Drudi of SJHP has been working hard on this and it’s finally coming out of the ground,” Lazar said. “Many working middle-class families cannot afford to reside in St. Augustine, even if they are employed here. This project is a major step towards alleviating this problem.”

Lazar noted that twenty-five percent of workers commute to St Johns County for their jobs, traveling from Putnam County or Duval County. This scenario hurts — because these workers, including police officers, firefighters, schoolteachers and others, are taking money out of the local economy only to spend it where they live.

“Thanks to Ameris Bank for providing financing that will allow us to build at least a dozen units over the next 12-months,” Lazar said, pointing out that this is one of the first truly, verifiable, affordable housing rentals built in St Johns County in almost 15 years.

The St. Johns Housing Partnership promotes safe, decent and affordable housing by creating links between the public and private sectors on projects that create low- and moderate-income housing, rebuild neglected homes and neighborhoods, thus benefiting disadvantaged areas and enhancing community economic and social development.

FGBC’s five certifications provide pathways to build green homes, developments, local governments, high rises and commercial buildings. FGBC is by far the largest certifier of green homes, communities and local governments in Florida.

National standards like USGBC LEED and Green Globes also move contractors and owners towards environmentally friendly building. “Florida Green” standards take a scientific approach and are developed with state-specific criteria. They address Florida’s hot-humid environment, distinctive topography, unique geology, resiliency and natural disasters.

For more information on the St. Johns Housing Partnership visit www.sjhp.org or call (904) 824-0902.

Going Green? In Florida you have a choice. Contact the Florida Green Building Coalition at (407) 777-4914, or email This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.floridagreenbuilding.org.

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JLL Arranges $330M Financing for 188 West St. James

SAN FRANCISCO – JLL announced today that it has arranged $330 million in financing for the development of 188 West St. James, a two-tower, 640-unit luxury condominium project located in downtown San Jose, California.

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TIMING RIPE FOR SHOMA GROUP’S MID-CENTURY MODERN INSPIRED MODERATELY PRICED MIAMI BEACH CONDOMINIUMS

Masoud Shojaee, President of Shoma Group - who over the past 31 years has developed more than 10,000 homes and condominiums, and completed over $4 billion in real estate transactions - believes the time is ripe for his new concept of moderately priced, Mid-Century Modern design-inspired Miami Beach condominiums.

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JLL Advises on Sale of Carolina Springs Master-planned Community

CHARLOTTE – JLL announced today it has advised on the sale of the approximately 400-acre Carolina Springs, a fully entitled, master-planned development site zoned for residential and commercial in the Raleigh-area community of Holly Springs, North Carolina.

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JLL Arranges JV Equity for Block 40 in Portland, Oregon

PORTLAND, ORE. – JLL announced today that it has arranged joint venture equity for the development of Block 40, a 232-unit, luxury multi-housing project in Portland’s South Waterfront neighborhood.

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JLL Arranges $15.1M Financing for Luxury Condominium Project

SAN DIEGO – JLL announced today it has arranged $15.1 million in financing for the development of Palatine Bankers Hill, a five-story, 16-unit luxury condominium project in San Diego, California.

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