News

CEDARst Cos., in a joint venture with Bridge Investment Group, has acquired a 2.3-acre parcel in the Las Vegas Arts District with plans to develop the Flats Arts District, a $112 million, 311-unit podium multifamily community located in a qualified opportunity zone. It is the third ground-up multifamily project pairing CEDARst and Bridge Investment, and the fourth qualified opportunity zone development undertaken by CEDARst. Demolition of existing structures is starting immediately, with a groundbreaking slated for this month.

A joint venture partnership between Cedar Street Companies, a vertically integrated real estate development platform, and Quartz Lake Capital, a private equity real estate investment manager, completed the acquisition of a land assemblage totaling approximately one acre in the Hillcrest neighborhood of San Diego. Simultaneously the joint venture announced plans for a 301-unit, $145 million podium multifamily development on the site.

The Chicago developer turning Uptown's landmark Bridgeview Bank building into apartments has enlisted WeWork to operate co-working space on the property's lower floors, the shared-office giant's first location on Chicago's North Side.

Crews are set to break ground this month on a $74.4 million project that will bring 190 new housing units to North Park and University Heights.

Cedar Street Cos. and Quartz Lake Capital have formed a strategic joint venture investment fund targeting urban infill multifamily development projects across the U.S. The JV will invest $300 million of equity capital into an approximately $1 billion development portfolio.

A Chicago real estate firm on Friday said it plans to build a roughly $78.S million multifamily development in Vancouver. The Timber House Apartments will hold 226 units and rise eight stories.