Development
For affordable housing fund, Cleveland embraces private partnerships
In response to rising rents and a shortage of over 50,000 affordable housing units, the city of Cleveland launched a housing investment fund using a public-private partnership model. The fund has raised $53 million, supporting the construction of 216 housing units, and plans to raise $100 million in the future to build 2,500 to 3,000 new homes, focusing on serving low-income groups.
Kennedy Wilson, Shimizu Corp. partner on $139M multifamily build in Georgia
Kennedy Wilson and Japan's Shimizu Corp. announced their first collaboration to develop Caldwell, a 382-unit luxury apartment project in Sandy Springs, Georgia, with a total investment of $139 million. This project marks Kennedy Wilson's first multifamily development in Georgia and is expected to be completed in 2028.
Core Spaces opens 6,000 new student beds in 6 developments
Core Spaces announced the delivery of approximately 6,000 student beds ahead of the 2026-2027 academic year, distributed across six student housing development projects, all completed at least six weeks early and within budget. The projects cover universities such as the University of Michigan and the University of Colorado Boulder. The company's CEO stated that they will continue to deepen their focus on key markets while advancing acquisition and investment platform expansion.
Multifamily New Supply Expected to Hit Trough in 2027
According to Yardi Matrix's Q3 2026 Multifamily Supply Forecast, new multifamily supply will reach a cyclical low in 2027 at approximately 444,343 units, before expanding only marginally by 2031. The report highlights declining construction and pre-leasing activity, a slight upward revision for 2026 completions, and a shift toward affordable housing in the development pipeline.
Multifamily Housing Starts Decline in July Amid Persistent Market Headwinds
Multifamily housing starts dropped 7.1% year over year in July, with completions down 25.6%, according to HUD and the U.S. Census Bureau. Permits for multifamily units rose 6.3% annually, signaling future activity. Regional data show multifamily driving construction in the Northeast and West, while total starts fell sharply in the Midwest and South. Builders face rising costs, labor shortages, and financing pressures, though rental demand remains resilient.
Hillpointe Expands into Kentucky with Two New Developments
Hillpointe, a Florida-based real estate and investment firm, has entered the Kentucky market with two new developments in Lexington and Nicholasville, totaling 868 attainable residences. The projects are part of master-planned communities and aim to address housing supply gaps in the region.