Cravey Real Estate Services, Inc. closed the lease of a 6.19-acre industrial property at 4402 and 4474 IH 69 Access Road in Corpus Christi, Texas.

The transaction was brokered by Matthew Cravey, President and Principal Broker of Cravey Real Estate Services, Inc., who represented the landlord, SOLO HACHE II LLC. The tenant, LA Logistics, Inc., is a rapidly growing heavy haul transportation company headquartered in central Mississippi.  

The property consists of two industrial buildings totaling 9,418 square feet situated on a highly visible corridor with strong traffic counts and direct adjacency to major national retailers including Home Depot and Walmart. Previously occupied by a heavy equipment dealership, the site offers functional infrastructure well suited for logistics and industrial operations, including multiple oversized drive-through doors, generous clear heights and expansive yard space.  

Founded in 2015, LA Logistics specializes in heavy haul transportation and hazmat-certified freight across the southeastern and midwestern United States. The company operates a modern fleet that includes insulated asphalt trailers capable of transporting high-temperature materials with capacities up to 6,000 gallons. The Corpus Christi location supports the company’s continued geographic expansion and enhances its service capabilities in South Texas and surrounding markets.

Marcus & Millichap closed the sale of The Annex, a 144-unit multifamily property in San Antonio, Texas. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, secured the financing. 

Ben Kalter, Drew Garza and Will Balthrope, investment specialists in Marcus & Millichap’s San Antonio and Dallas offices, had the exclusive listing to market the property before the lender foreclosed. 

John Brickson, managing director in the firm’s Dallas office, secured the financing.    

The Annex is situated on 6.62 acres at 326 Whitewood St., near Lackland Air Force Base and five miles from downtown San Antonio. The property includes 144 units across 98,748 square feet, offering a mix of studio, one-, two- and three-bedroom floor plans. Originally built in 1969, it has recently undergone exterior and amenity upgrades. 

Avison Young helped facilitate the sale of 165 single-family home lots on behalf of the seller, Berry Creek Highlands Austin. The property is located within Berry Creek Highlands, a 314-acre master-planned community in Georgetown, Texas.

The site, located at 2451 TX-195, will be used for the final phase of the community’s development.

Avison Young Principal Mike B. Kennedy and Senior Vice President Sullivan Johnston represented the seller. The buyer, David Weekley Homes, a Houston-based new home developer, was self-represented.

The lots are the last phase of the single-family development tracts offered in the community, joining David Weekly’s existing tracts, Ashton Woods and Chesmar Homes. In addition to the single-family tracts, the community is home to NexMetro’s Avilla Berry Creek build-to-rent community, as well as Wood Partners’ Alta Berry Creek multifamily community, both of which were also transacted by Avison Young. Jarrell ISD is set to deliver an elementary school within the community by August 2026.

This closing represents strong continued belief and interest from national homebuilders in the Austin MSA’s single family home market, despite a slowing of new home deliveries in recent months.

Kennedy and Johnston have assisted Berry Creek Highlands’ mixed-use community master developer with multiple transactions over the last five years, including residential tracts, built-to-rent and multifamily parcels.

It might seem difficult to believe for renters searching for low-cost apartment units in major cities, but developers are building afford multifamily units at a record pace in the United States, according to the latest research from RentCafe.

In the past five years, the U.S. built nearly 310,000 new affordable apartments, with nearly one-third of that total delivered in 2024, according to RentCafe’s Jan. 27 Market Insights report.

How does this pace of development compare to other five-year periods? RentCafe reported that affordable housing construction rose 73% during the last five years compared to the previous five-year period (2015–2019), far outpacing the 36% growth in overall apartment construction during the same period.

RentCafe said that more than 91,000 affordable apartments were completed in 2024 alone, which ranks as the highest annual total in the past decade. This surge made 2024 the busiest year for multifamily affordable housing construction in a decade.

Affordable housing is starting to make up a larger portion of all new apartment construction, RentCafe said. In 2024, nearly 14% of all new apartments were income-restricted, up from just under 9% 10 years earlier. This indicates a growing emphasis on affordability in new multifamily development.

What’s behind this increase in lower-cost apartments? RentCafe’s report cites the American Rescue Plan, which has directed billions of dollars into housing through State and Local Fiscal Recovery Funds. Many states also introduced or expanded their own tax-credit programs. These efforts helped developers cover rising costs and move projects to completion while also keeping rents affordable for the long term.

Between the two five-year periods spanning 2015 to 2019 and 2020 to 2024, the U.S. saw a dramatic increase in the completion of affordable apartments: The number of apartments for lower-income renters delivered nationwide surged by 73%, rising from approximately 179,000 in the first half of the 10-year period to nearly 310,000 in the latter.

Seattle led the way in affordable-housing construction with 14,290 affordable apartments completed in the last five years. This is an increase of nearly 40% when compared to the previous five-year period.

New York City ranked second, with 14,240 affordable units added since 2020. Austin, Texas, ranked third with 13,343 new units; Minneapolis-St. Paul fourth with 10,722 new affordable apartment units; and Atlanta fifth with 10,486.

Chicago ranked 12th in RentCafe’s report, adding 7,112 new affordable multifamily units during the last five years, while Nashville added 5,498, ranking 16th. Dallas ranked 17th with 5,317 new affordable apartment units in the last five years.

This doesn’t mean that finding affordable multifamily units is easy for renters. Many still struggle with high monthly rents, especially if they are looking for apartment units in major cities or located in walkable neighborhoods with easy access to public transportation. But the recent influx of affordable apartment units is good news for renters looking to spend a lower share of their monthly incomes on rent.

Will the surge in affordable multifamily units continue? That’s difficult to predict, but the RentCafe report suggests that developers will continue adding this housing type to U.S. markets in the coming years.

JPI in partnership with Anchor Loans closed on construction financing for Jefferson Southwest Parkway, a planned $114 million Class-A garden-style apartment community at 4700 Lake Ridge Parkway in Grand Prairie, Texas. 

Slated for delivery in 2027, Jefferson Southwest Parkway will feature 439 multifamily units, including studio, one-, two-, and three-bedroom apartments. Residents will enjoy a suite of elevated amenities such as a resort-style pool, fitness center, dog park and large clubhouse. 

Conveniently situated between Dallas and Fort Worth, Jefferson Southwest Parkway offers easy access to major interstates and state highways, ensuring seamless connectivity throughout the Metroplex. Residents will also benefit from direct access to scenic walking trails in the wooded area on the north end of the property. 

Photo courtesy of NRP Group.

The NRP Group announced the completion and grand opening of Thrive on Crawford, a 67-unit mixed-income development in Fort Worth, Texas.

The majority of homes are reserved for families earning 30%, 50% and 60% of the Area Median Income (AMI), with seven market-rate units available. The development integrates high‑quality housing with access to essential health services to improve long‑term outcomes for residents. The development includes 2,200 square feet of Class‑A commercial space leased to JPS Health Network.

Located at 1310 Crawford St., adjacent to a key site in JPS Health Network’s $2.1 billion bond program expansion, Thrive on Crawford is part of a broader vision to enhance healthcare services across Tarrant County. The new community provides essential housing options for healthcare workers, young professionals and families, offering an urban lifestyle close to boutique shops, restaurants and entertainment along Magnolia Avenue with direct access to I-35W.

The development features one-, two- and three-bedroom apartments with high-end finishes, accompanied by modern cabinetry and private patios with storage units. Amenities include a business center with individual work pods, 24-hour fitness center, luxurious lounge center with a cafe, communal laundry facility and an outdoor playground. Thrive on Crawford also offers comprehensive resident service programs onsite, including adult literacy workshops, financial training and youth afterschool and summer programs.

Project financing was provided by J.P. Morgan Chase and Berkadia, along with a tax credit equity investment through an investment fund managed by Red Stone Equity Partners. Additional financing was provided by the Near Southside Financing Zone TIF and Texas Department of Housing and Community Affairs. Wynne Jackson and Servitas helped co-develop the community.

This health and housing collaboration not only allows JPS and other local healthcare professionals the opportunity to live within the communities they serve, but also provides residents with immediate access to important services such as primary care, pediatric, behavioral health, orthopedics, cardiology and oncology. 

Thrive on Crawford marks The NRP Group’s fourth “Health and Housing” development. The Dallas metro area remains a priority market for The NRP Group. The firm has developed over 6,000 units across 27 properties in the region and previously broke ground on a new affordable housing development, The Fielder, in Mesquite.