Major financing clears way for Eden Prairie apartment project
Eden Prairie, Minnesota, August 26, 2025 News Summary A $55.62 million financing package has been arranged to build The Fox & The Grouse Phase II, a six-story, 188-unit apartment building in Eden Prairie’s Golden Triangle. The capital includes a $39.12 million construction loan and $16.50 million in joint-venture equity to support immediate construction. The development will […]
Brokers Shift to One‑Time Close Construction Loans as Montana DOE Loan Restarts and Regional Bank Posts Strong Quarter
Montana, USA, August 26, 2025 News Summary Mortgage brokers are increasingly pursuing one‑time close construction loans across FHA, VA, USDA and conventional products to serve first‑time buyers and new home builders. The single‑closing structure reduces fallout risk, lowers upfront cash needs, and pays brokers at one permanent close rather than a separate refinance. Meanwhile, a $1.44 […]
Zoning alone won’t close U.S. housing shortage, experts say
United States, August 26, 2025 News Summary The United States faces an estimated shortfall of about 4.7 million housing units, driven by restrictive zoning and compounded by financing, labor and materials constraints. While upzoning can lower regulatory costs and enable denser development, experts warn it won’t automatically trigger large-scale building without cheaper construction credit, more skilled […]
RXR Acquires 42‑Story Office Tower at 590 Madison Ave
Plaza District, Manhattan, New York, August 25, 2025 News Summary RXR, in partnership with Elliott Investment Management, purchased the 42‑story Class A office tower at 590 Madison Ave for roughly $1.08–$1.1 billion. The acquisition, financed with a senior mortgage from Apollo Global Management and advised by Newmark and Eastdil Secured, is the largest single office building […]
Illinois Awards Fire Station Construction Grants to Three Southern Illinois Departments
, August 25, 2025 News Summary In a Shawneetown ceremony, the state awarded significant grants to three Southern Illinois fire departments to repair, upgrade or build stations and buy equipment. Shawneetown and Carrier Mills each received $350,000 while Equality was awarded $300,000. These awards are part of the inaugural Fire Station Construction and Rehabilitation Program, which […]
Springfield hires architects and construction manager ahead of lodging-tax vote
Springfield, August 24, 2025 News Summary City officials launched the next planning phase for a proposed downtown Springfield Regional Convention & Event Center by soliciting architectural design teams and a Construction Manager at Risk to begin preconstruction work. The consultant-recommended facility is roughly 125,000 square feet with an estimated $175 million construction cost. A $30 million […]
West Palm Beach development roundup: major hotel loans, new district and resort opening
West Palm Beach, Florida, August 23, 2025 News Summary Three major hospitality moves are reshaping West Palm Beach: Mr. C Hotel & Residences broke ground after securing a $285 million construction loan for a 146-residence, 110-suite mixed-use tower; a New York–based operator is advancing a 201-room Nora Hotel inside the planned Nora District, a roughly 40-acre, […]
Township Approves 10-Year TIF to Advance 48-Unit Housing Project
Marquette Township, August 23, 2025 News Summary At a special meeting the Marquette Township Board approved a 10-year Tax Increment Financing plan to support a proposed 48-unit housing development, moving the project closer to construction. The parcel is expected to transfer to a local homebuilder pending closing paperwork, and construction could occur over the next two […]
$569M Package of Multifamily Financings Includes $110M Bridge and Two HUD 223(f) Loans
MIAMI, August 23, 2025 News Summary A series of real estate financings totaling $569 million closed, led by a $110 million bridge take-out for a newly built 277-unit mixed-use development in Charleston and two 35-year fixed-rate HUD 223(f) refinances: $49.7 million for Elements Apartments in Santa Maria, CA (167 units) and $48.3 million for The Plaza […]
HMF Americana Secures $113.5M Construction Loan for 575-Unit Cottage Green Projects
Tomball, Texas and Simpsonville, South Carolina, August 22, 2025 News Summary HMF Americana obtained a $113.5 million construction loan to develop two Cottage Green build-to-rent communities in Tomball, Texas, and Simpsonville, South Carolina. The financing is split into an $83.8 million senior note and a $29.7 million B-piece, with an 18-month initial term and two optional […]