Several multifamily projects broke ground around the country in the first week of November.
Lincoln Property Co. and McCourt Partners started a development called ElevenOneEleven in Culver City, California, one of the strongest rental markets in Southern California, according to Stephen Lindgren, senior vice president and Los Angeles market leader at Lincoln.
Like much of the SoCal region, Culver City needs more housing, but “as with any new housing development of this scale, the entitlement process and rising construction costs can present challenges,” Lindgren said in emailed comments.
However, “Culver City leaders have recognized the need to create a supportive environment for new residential development,” Lindgren said. “That partnership has been instrumental in advancing ElevenOneEleven.”
Here is more detail about the ElevenOneEleven project and two other newly launched developments in Texas and Pennsylvania.
ElevenOneEleven in Culver City, California
On Thursday, Lincoln and McCourt Partners started construction on a six-story, mixed-use development in the Los Angeles area close to major employers and “convenient access to the best West LA lifestyle amenities,” according to a press release shared with Multifamily Dive. The project price tag is $200 million, the Los Angeles Times reported.
The development will bring 344 apartments, including 52 affordable units. In addition, it will include 2,000 square feet of retail and 17,520 square feet of publicly accessible outdoor space. Amenities will include a resident club with a sports simulator and gaming lounge; a private courtyard with a pool, grills and a movie screening area; a fitness center with a sauna; a coworking space; and an outdoor lounge, per the release.
One of the project's most compelling aspects is the opportunity to make a meaningful impact on a long underutilized site, according to McCourt Partners President Jordan Lang.
“We're excited to introduce significant new housing inventory in an established market at a time when opportunities to develop at this scale are limited,” Lang said in emailed comments. “We've approached the project with the understanding that successful development should extend beyond the building, creating spaces and amenities that enhance and activate the surrounding neighborhood.”
KFA Architects designed the project, Kimley-Horn is the civil engineer and Allen Matkins represented the project on land use matters, according to the release. Work is expected to wrap up in the fourth quarter of 2028.
Twenty-Twelve in Philadelphia
The Philadelphia Housing Authority, Alterra Property Group and RHEAL Capital Management broke ground Friday on a $62.5 million, 14-story mixed-income community with 121 apartments and 2,000 square feet of ground-floor commercial space, according to a press release. Alterra will build and manage the development under a 99-year ground lease structure on behalf of PHA, the owner.
The project transforms the former site of PHA’s administrative headquarters and marks the agency’s first residential property in Philadelphia’s Center City district, per the release. Sixty percent of the homes will be reserved for families earning up to 80% of the Area Median Income, while the remaining 40% will rent at market rate.
“Admittedly, the road to get here faced its share of hurdles, nearly two decades of vision, redesigns, and navigating federal approvals,” PHA President and CEO Kelvin Jeremiah said in the release. “This landmark development reflects our commitment to ensuring that affordable, high-quality housing is available in every part of the city.”
Twenty-Twelve’s downtown location will offer residents easy access to jobs, transit and schools, per the release. The building is equipped with a rooftop terrace, a fitness center and technology-enabled meeting rooms on each floor. The project is slated for completion by Q4 2028.
Mid-rise apartments in Dallas
Co-general partners Trademark Property Co. and Morgan Group started construction Wednesday on a 362-unit, class A multifamily project in Dallas’ Oak Lawn neighborhood that will occupy an entire 3-acre city block, according to a press release. Morgan is also the project’s developer, general contractor and property manager.
“Getting this development to this point took many years of hard work, collaboration and persistence, and we are thrilled to reach this milestone,” Chad Colley, multifamily and mixed-use partner at Trademark Property, said in the release.
The podium-style community will consist of three-, five- and seven-story building components with studio, one-, two- and three-bedroom floor plans. The residences will have premium finishes, in-unit washers and dryers and walk-in closets. Some will offer dens, balconies or large private patios, and certain ground-level homes will have private yards.
Amenities will include a rooftop pool and outdoor spa; a fitness center with a private studio, sauna and cold plunge; a pocket park and courtyards; a clubroom and coffee bar; coworking areas; a golf simulator and virtual gaming area; a dog park and dog wash; EV charging stations; cold storage for food deliveries; a package room with return-valet service; and indoor bike storage.
GFF is the project architect, SJL Design Group is the interior designer and LandDesign is the landscape architect. The first residences are slated to be finished by fall 2028, with full delivery in Q2 of 2029.
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