Construction season is still going strong as the weather cools, as evidenced by several apartment project groundbreakings in job-rich areas last week.
The red-hot semiconductor industry is fueling demand for housing in Phoenix, while Indiana’s strong labor market and limited supply are bolstering the need for more units, per the Indiana Association of Realtors. Plus, an affordable project is coming to Raleigh, North Carolina — the market with the most outsiders looking for apartments, drawn to its robust employment options, the Triangle Business Journal reported.
Read on to learn more about three newly started multifamily developments:
Soltra Ironwood in Phoenix
Leon Multifamily broke ground last week on Soltra Ironwood, a 343-unit luxury apartment project located in North Phoenix, according to an Oct. 20 release from the developer. It is the Dallas-based firm’s latest addition to its growing portfolio of class A multifamily developments in the area.
Fueled by Taiwan Semiconductor Manufacturing Co.'s expanding campus, North Phoenix has become one of the country’s fastest-growing job corridors, per the release. The region’s burgeoning semiconductor and advanced manufacturing industries are driving strong housing demand in the area.
“North Phoenix's growth story is being written by companies like TSMC, whose expanding investment is bringing tens of thousands of new jobs to the area,” Blake Schroeder, president of Leon Multifamily, said in the release. “Soltra Ironwood is our response to that growth.”
The development will feature studio, one-, two- and three-bedroom apartments, according to the release. Amenities include a resort-style pool, a 24-hour fitness center, co-working spaces, a clubhouse event space, a dog park and pet spa, pickleball and bocce ball courts as well as private garages with EV chargers.
The first apartments are slated to begin delivery in the fourth quarter of 2027, per the release. LMF Construction, Leon's in-house general contractor, is building the project.
Chapanoke Apartments in Raleigh, North Carolina
The city of Raleigh and Raleigh Community Partners LLC last week celebrated the launch of construction on Chapanoke Apartments, which will offer 200 affordable rentals to households earning between 30% and 70% of area median income, according to an Oct. 21 press release. Construction on the nearly $58 million project is scheduled to wrap by early 2028.
The development will include 66 one-, 86 two- and 48 three-bedroom apartments that will remain affordable for at least 30 years, per the release. Forty of those units will be designated as supportive housing for residents with disabilities, with another 10 set aside for referrals from city housing programs. Raleigh nonprofit Families Together will provide onsite services for residents.
Wake Technical Community College donated the land for the project, which is located next to its Public Safety Education Campus, according to an Oct. 21 release from the college. About a third of the homes will be reserved for low- and moderate-income Wake Tech students.
Tenants will be able to get around via the planned Southern Wake Bus Rapid Transit corridor and access nearby grocery stores, pharmacies and medical facilities, per Harmony Housing Affordable Development. The developer is a partnership between Harmony Housing, Gilbane Development and F7 International Development.
They financed the project with a combination of public and private capital, “including Low-Income Housing Tax Credit equity provided by Greystone Real Estate Capital, private construction and permanent financing from Greystone Housing Impact Investors LP and Citi Community Capital, and subordinate public loans from Wake County and the City of Raleigh,” according to Harmony Housing.
The Crossing Lofts at Fishers District in the Indianapolis area
Thompson Thrift broke ground last week on a four-story, 273-unit mixed-use community in the Indianapolis suburb of Fishers, Indiana, per an Oct. 19 press release shared with Multifamily Dive. It’s part of the $750 million master-planned The Crossing at Fishers District, which started construction in 2015 and will eventually host more than 75,000 square feet of shopping, restaurant and entertainment space, a 125-room hotel and almost 500 multifamily units.
The development will include 10,000 square feet of ground-floor commercial space, according to the release. It’s located in the southern area of the Fishers District master plan, providing future residents walkable access to dining, shopping and entertainment. Residents are expected to start moving in by January 2028.
The community will offer studio, one- and two-bedroom apartments with quartz countertops, stainless-steel appliances, hardwood-style flooring, large walk-in closets, full-size washers and dryers and smart-home technology. Certain units will have premium finishes, a den, private yards and other “upgraded features,” according to the release.
The building will have attached parking and elevators. Other amenities include a heated swimming pool, a 24-hour fitness center, courtyards with grilling and gathering areas, a pet spa, a social hub, a coffee bar, focus suites and conference space. It will also feature a Minnow Pod, a “secure, temperature-controlled food delivery station designed to keep restaurant and grocery deliveries fresh until residents are ready to retrieve them,” per the release.
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