Related & BH Team up for Palm Beach Condo, Construction Starts on $880M HueHub in Miami and More!
Why It Matters
The wave of financing and construction across senior, student and mixed‑use assets signals sustained demand and policy support, positioning developers and investors to capture growth in high‑density, workforce‑focused markets.
Key Takeaways
- •Presbyterian Living secures $163M tax-exempt bonds for expansion
- •Core Spaces acquires 970‑bed student housing at University of Missouri
- •Crescent Community launches 115‑unit BTR project in Tampa’s metro area
- •Related and BH Group obtain $200M construction loan for Ritz‑Carlton Residences
- •Hue Hub $880M mixed-use development reserves 3,000 units for essential workers
Summary
The segment highlighted a slate of new multifamily projects spanning senior, student and mixed‑use sectors, from Chicago’s Presbyterian Living expansion to Miami’s $880 million Hue Hub development.
Presbyterian Living secured nearly $163 million in tax‑exempt bonds from the Illinois Finance Authority to add 70 senior‑housing units, slated for 2027. Core Spaces entered Missouri’s student‑housing market by acquiring a 970‑bed community at the University of Missouri, already pre‑leased for three fall semesters. Crescent Community broke ground on a 115‑unit build‑to‑rent project in Tampa, its first Harman‑branded property, funded through a $1 billion joint venture with Heitman. Related Group and BH Group obtained a $200 million construction loan for the 138‑unit Ritz‑Carlton Residences waterfront condo in West Palm Beach.
The Hue Hub, the largest development under Florida’s Live Local Act, will cost $880 million and reserve 3,000 units at base rent for first responders and essential workers, illustrating public‑private collaboration. The projects collectively represent over $1.5 billion in new financing and construction activity across the Sun Belt.
These initiatives underscore robust investor confidence in high‑growth markets, the effectiveness of tax‑exempt financing, and policy tools aimed at affordable housing for essential workers, setting a bullish tone for the multifamily sector through 2027.
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