Ocean One construction starts among five apartment groundbreakings

Construction has started on Ocean One, an eight-story, 371-unit mixed-use project with 25,500 square feet of retail in downtown Boynton Beach, Florida, one of five groundbreakings covered in an Oct. 8 Multifamily Dive roundup.

The developers named in an Oct. 6 release are Hyperion Group, Winter Properties, WREP and Silverstein Properties. Affiliates of Cantor Fitzgerald and Silverstein Properties provided equity, Madison Realty Capital supplied construction financing, and Arquitectonica designed the project.

Madison Realty Capital's construction loan is one of several multifamily financings by the lender in this publication's coverage this month. The lender also provided a $127 million take-out on Fort Lauderdale's Arcadian and a $40 million acquisition and predevelopment loan for an office-to-apartment conversion in Washington, D.C.

In September, this publication reported that Silverstein Properties was directing growth capital toward credit and opportunity zones as the last World Trade Center tower started.

McGrath Real Estate Partners has started construction on The James, a 279-unit class A community on nearly 10 acres inside CamWesT Crossing, a 47-acre mixed-use development in the Bryan-College Station BioCorridor. An Oct. 5 release calls the area one of Texas' fastest-growing employment zones. The three-story buildings will offer one-, two- and three-bedroom plans marketed to young professionals, healthcare workers, researchers, graduate students and others who want to be near local job centers.

In Southwest Austin, developer and contractor OHT Partners broke ground on The Barton, a mix of three-story garden-style buildings and 30 two-story townhomes totaling 402 units on more than 60 acres, according to an Oct. 5 release. More than 40 acres are designated green space, and Meeks + Partners is the architect. Planned amenities include large floor plans, private yards, tuck-under garages, two resort-style pools, a clubhouse, a fitness center and a 1.4-acre dog park.

Multifamily starts plummeted in August, according to Multifamily Dive, but the roundup still identified five new groundbreakings. Ocean One, The James and The Barton are market-rate. The roundup also lists affordable housing in Michigan and California, including The Adeline in Ann Arbor, Michigan, where a ground-floor window will show the utility room where the building's geothermal system meets the earth.