Patrick’s Elegant Living occupies 45K SF in a standalone building across the street from Tysons Corner Center.
Multifamily construction has slowed dramatically in the city, with last year's 1,502 market-rate apartment starts down from the 2022 peak of nearly 7,000.
The new 60K SF facility is set to open next summer.
MEAG has bought a build-to-rent asset at The Liberties as German investors refocus on the Irish capital and residential investment picks up.
Read about a major refi, several new hires and other deals in Chicago this week.
The REIT this month gave a notice to tenants at 432-unit apartment building The Batley saying it intends to sell the building.
It cost twice as much to build a project in New York than in does in Tampa, which is still the 22nd-most-expensive city in the U.S. for commercial development.
Mayor Cherelle Parker's $6.7M budget proposal includes borrowing $800M for her housing initiative and eliminating Philadelphia's construction impact tax.
The vast majority of LA's rental units are rent-stabilized and will be subject to the new cap.
Philadelphia City Council members picked apart Mayor Cherelle Parker's HOME initiative during a budget meeting on Wednesday.
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