Chris Whitten has three children in their late teens and early 20s who are edging into adulthood, but it’s not the prospect of becoming an empty nester that keeps him up at night—it’s the fear that none of them will be able to buy or even rent a home in their home state of Rhode … Read more
Voters in New York City have approved three ballot initiatives intended to speed the construction of more residential housing units, in a step toward addressing the city’s dire housing shortage. The amendments to the city charter appeared on the ballot Tuesday, when voters also elected Zohran Mamdani as mayor, after the progressive Democrat campaigned heavily … Read more
Dezer Development landed a $630 million construction loan for the oceanfront Bentley Residences condo project in Sunny Isles Beach, marking the largest financing in South Florida so far this year. New York-based Madison Realty Capital, led by managing principals Brian Shatz, Josh Zegen and Adam Tantleff, is the lender, according to a press release. Berkadia’s … Read more
Yamal Yidios’ Ytech secured $565 million in financing for the firm’s 70-story luxury condo tower that’s under construction in Miami’s Brickell. The construction loan marks one of the largest to close in South Florida this year. J.P. Morgan is the senior lender, and Sculptor Real Estate is the junior lender, according to a press release. … Read more
In an effort to build more and build fast, off-site construction is gaining traction as developers seek to speed up production while maintaining quality and controlling costs. Villa, a California-based leader in factory-built housing, is proving just how far the model can scale. “There are a number of challenges when doing modular homebuilding,” says Sean … Read more