The NRP Group in partnership JPS Health Network announced the financial closing of a 67-unit mixed-income multifamily development in Fort Worth, Texas.

Sixty of the units will be reserved for residents earning 30, 50 and 60 percent of the Area Median Income (AMI), with the remaining seven set aside as market-rate. The development will also include 2,200 square feet of commercial space leased to JPS Health Network to service residents and the surrounding community.

Positioned next 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 will provide essential housing options for healthcare workers, young professionals, and families, offering an urban lifestyle close to boutique shops, restaurants and entertainment venues.

The project will feature a variety of one-, two-, and three-bedroom apartments with high-end finishes. Amenities will include a business center, community kitchen and lounge, fitness center, children’s playroom, and an outdoor playscape. Thrive on Crawford will also offer a comprehensive resident services program, including adult literacy workshops, financial training and youth afterschool and summer programs.

Project financing was provided by JPMorgan Chase and Berkadia, with tax credit equity investment from CVS Health through an investment fund managed by Red Stone Equity Partners. Additional funding 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.

CVS Health’s investment in Thrive on Crawford is a local demonstration of the company’s mission to improve the health of individuals across the country.  This health and housing collaborative not only allows JPS essential and other local employees the opportunity to live in affording housing in the community in which they work but also provides all residents immediate access to important healthcare services including primary care, pediatric, behavioral health, orthopedics, cardiology, and oncology. 

Thrive on Crawford marks The NRP Group’s fourth “Health and Housing” development, and the company’s first in the State of Texas. 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 recently broke ground on a new affordable housing development, The Fielder, in Mesquite.

Construction of Thrive on Crawford is already underway, with completion slated for early 2026.

Eastham Capital partnered with Mosaic Residential in the acquisition of Amber Oaks and Park Place in the Houston suburb of Pearland.

South Florida-based Eastham Capital has invested in the deal through its current fund, Eastham Capital Fund VI, LP.  Mosaic Residential, who has co-invested and partnered with Eastham Capital on multiple projects, will oversee the day-to-day management. The acquisition price was not disclosed.

Amber Oaks, totaling 63 units, is 95% occupied, with in-place average rents of $1,450/month and Park Place, with 101 units, is 96% occupied, with in-place average rents of $1,167/month.  The communities, which are adjacent to each other, have shared amenities.

This acquisition includes a renovation budget in excess of $1 million to upgrade the units with the finishes and features expected by today’s class “A” renter.  The interior improvements will include upgrading the appliances to stainless steel, modernizing the flooring and fixtures, updating the paint, and installing smart home packages. 

Constructed in 2015 and located at 2685 Old Alvin Rd, Amber Oaks offers 16 one-bedroom, and 47 two-bedroom apartments spread across two three-story buildings with units featuring nine-foot ceilings, granite countertops, washer/dryer connections and private balconies.

Constructed in 1972 and located at 3340 E Walnut St., Park Place has 21 one-bedroom, 72 two-bedroom and eight three-bedroom apartments.  Park Place has 14 two-story buildings with tenants having access to 101 covered parking spaces.  Amber Oaks and Park Place are adjacent to each other; therefore, residents will have access to shared amenities including a pool, playground, picnic area, a grilling station, and a laundry facility. 

PCCP, LLC acquired a 13-acre parcel of land for the  construction of Skymor at Pearland, a Class-A, 109-unit built-for-rent gated townhome community on Old Chocolate Bayou Road in Pearland, Texas.

A Houston-based single-family homebuilder, Integrity Community Builders, a Weekley Homes LLC company, has been commissioned by PCCP to immediately commence construction on the finished lots, with first homes anticipated to be delivered in February 2025.

Skymor at Pearland will consist of 58 four-bedroom end units (1,938 sf), 29 larger three-bedroom units with a loft (1,866 sf), and 22 three-bedroom units with no loft (1,763 sf). Every unit will include a two-car garage and a two-car driveway.

Additionally, unit interiors will feature stainless steel appliances, quartz countertops, vinyl plank wood flooring in the common areas and on the stairs, with carpeted flooring in the bedrooms, a washer-dryer, and nine-foot ceilings. The community will include several greenspaces, two open-air gazebos, a decomposed granite trailway/paseo, a playground and a dog park.

The healthcare real estate industry is evolving to meet the needs of patients who prefer to receive care in outpatient facilities instead of being forced to travel to busy hospitals. But what if healthcare providers struggle to find the employees they need to staff the new freestanding clinics and ambulatory care centers they are opening?

That’s a major topic of JLL‘s first Employee Perspective on Healthcare Real Estate survey. The report, which collected responses from more than 1,000 healthcare employees, explores how healthcare companies can best attract and retain workers.

JLL’s report found that this is a challenging time for healthcare employers. According to the survey results, nearly a quarter of healthcare employees are considering leaving their jobs in the next 12 months. A total of 10% of survey respondents said that they plan to leave the healthcare industry.

JLL researchers said that employees are leaving their jobs or the industry not only because they are seeking higher pay — though that certainly matters — but because they are seeking less-stressful or exhausting positions. Others are looking for a shorter commute to work.

“Humans rely on healthcare at their most vulnerable moments, and the people who provide that care are essential. At its core, healthcare is humans taking care of humans,” said Cheryl Carron, chief operating officer for JLL Work Dynamics Americas, in a written statement.

“While pay and benefits remain top priorities, in today’s competitive labor market, employers need to look beyond compensation and recognize how the physical workplace plays a crucial role in employee experience and can significantly impact employee satisfaction,” Carron said.

More than 40% of respondents ranked location/proximity to their employer in their top three factors for choosing a new position.

Clinicians ranked the specific role they would take on in their top three factors over location more often than those working in operational positions. This is not surprising considering physicians, advanced practitioners and nurses are more specialized, JLL said.

Members of different generations are also looking for differing benefits from their work situations. A total of 31% of Gen Z respondents, a generation that has more entry-level workers, placed higher importance on workplace culture, while 15% of Baby Boomers chose flexibility as their top factor in choosing a position.

The specific role was of higher importance to Gen X and Baby Boomers, with 45% and 46% placing it in their top three criteria, respectively, according to the survey. One-third of millennials chose pay and benefits as their top factor compared to 22% of Gen X and 21% of baby boomers.

“We’re seeing a clear shift in priorities across generations,” said Kari Beets, senior manager of Healthcare Research for JLL, in a statement. “Healthcare organizations need to take a nuanced approach to workplace strategy to meet the diverse needs of their multigenerational workforce.”

The research also shows the importance of location factors, including proximity to affordable housing, shopping and restaurants; safety; and convenience. For employees considering leaving their roles, 22% said that their jobs were too far from affordable housing, likely contributing to their desire to leave.

“If you can’t move your location, explore how to change your location,” said Jay Johnson, U.S. practice leader for Healthcare Markets at JLL, in a statement. “By making improvements that speak to the concerns that lead to attrition, healthcare organizations can improve employee experience and satisfaction.”

How can healthcare employers make their workspaces more attractive to potential employees? According to JLL’s survey, addressing safety issues should be a priority. Employers can add lighting and boost security patrols.

Employees also enjoy working near restaurants, shopping and other amenities, according to JLL’s survey. Healthcare providers who also own facilities can attract restaurants and shopping nearby, JLL said in its report. Another option? Health systems can join with state and local programs to kickstart affordable and workforce housing developments or partner with private developers themselves.

Healthcare providers who want to retain employees need to give them a pleasant place at which to work. According to JLL’s survey, employees planning to stay in their current positions were more likely to report that their workplace enabled them to work productively (93%), provides technology to help with efficiency (90%), allowed them to care for patients effectively (88%) and supported their overall well-being (87%).

“There are numerous ways they can improve the employee experience through thoughtful workplace design and amenities,” said Andrew Quirk, Institutional Industries Lead for Project and Development Services at JLL, in a statement. “Providing well-maintained spaces for rest and recharging like breakrooms and outdoor areas with green space can have a significant positive impact. Just as important as creating and maintaining them is ensuring these spaces are accessible to all employees.”

JLL Capital Markets neogitated the sale of Cedar Port IKEA, a 996,482-square-foot industrial distribution center near Houston, Texas.

JLL represented the seller in the transaction, with MDH Partners acquiring the property.

The property consists of two Class-A buildings built in 2017, currently fully leased to IKEA. It features 32-foot clear heights, large 190-foot truck courts, ESFR sprinkler systems,  abundant trailer parking and future rail capability.

Strategically located at 4762 and 4830 Borusan Rd in Baytown, Texas, the property sits within the sought-after Southeast Houston industrial submarket. Its prime position, just two miles from State Highway 99 and 15 minutes from Barbour’s Cut Container Terminal, offers exceptional regional connectivity and streamlined access to the Port of Houston.

Additionally, the property is part of Cedar Port Industrial Park, the largest master-planned, rail-and-barge-served industrial park in the United States and the fifth largest globally. This 15,000-acre campus features heavy utilities and exceptional infrastructure, hosting industry leaders like Walmart, GE, DHL and The Home Depot.

The JLL Investment Sales and Advisory team was led by Industrial Group Co-Lead and Senior Managing Director Trent Agnew, Senior Director Charlie Strauss and Director Lance Young.

HOK, a global design, architecture and engineering firm, has left its
mark on some of Texas’ most renowned skyscrapers, including Houston’s
JPMorgan Chase Tower and Dallas’ Trammell Crow Center. As the real
estate landscape shifts due to economic and environmental factors, these
projects exemplify the growing trend of renovating existing properties.
“Here in Austin, for example, there was such an incredible boom and so
many office buildings built,” said George Blume, HOK’s Austin/Dallas
design principal. “But as a result of COVID, it’s been really challenging to
get occupancy in those buildings.”
This abundance of available space is steering the industry towards
renovation rather than new construction. Blume believes that the focus
has shifted from creating new amenities to infusing existing spaces with
a modern, attractive feel.
“You’re not going to see a lot of new office buildings any time soon,” he
noted. “We all have to now work with the supply that we have.”
The pivot toward renovation is not just a matter of necessity; it also makes
financial and environmental sense. Blume emphasized the importance of
leveraging existing structures rather than building anew.

“Building construction is quite a draw on the resources that we have, but we have so much building stock in this entire world, it would behoove us to work with what we have as much as possible,” Blume said, noting that this approach not only saves on construction costs but also appeals to tenants. “Since there’s not an appetite for new construction right now, it’s very much a tenant’s market. Tenants have a lot of power and a lot of choice. There’s great value in retrofitting an existing property. That’s a great story for sustainability.” The financial advantages of renovation are clear, but Blume also highlighted the ongoing “arms race” to attract top talent. Companies are constantly seeking to make their office environments more inviting.

“It’s really appealing to every generation of talent, making them feel like this is a really inviting, fun place to work,” Blume said. “You can only do that so much with your actual tenant interior. The tenants are going to want those properties to have as much of a similar value as possible.”

When it comes to revamping iconic properties like the JPMorgan Chase Tower and Trammell Crow Center, there’s an added challenge: modernizing without losing the essence of the building’s original architecture. “JPMorgan Chase is a classic tower. It’s currently the tallest building in Texas. It’s by I.M. Pei, and it is a gem of architectural history,” Blume explained. “On paper, you wouldn’t need to do anything with that project to attract tenants. But over the last ten years, there were plenty of incredible Class-A towers built.”