Commercial Banking

March 23, 2023

The loan is for the purchase of a 13-property multifamily portfolio, which includes 437 residential units, in Bridgeport, Ct. The buyer was undisclosed, but the portfolio seller was Rhodium Capital Advisors. The portfolio includes the 179-unit affordable community at 2209-2250 Main St., the 46-unit community at 1465 E Main St., the 24-unit building at 299 Berkshire Ave., the 18-unit community located at 644-654 Park St., the 17-unit property at 340 Putnam St., the 17-unit building at 1590 Barnum Ave., the 32 units at 30 and 80 Granfield Ave., the 28-unit property at 1575 Iranistan Ave., and a 28-unit garden-style apartment community at 898-930 Norman St.

March 17, 2023

An undisclosed borrower acquired the loan to purchase a Bridgeport, Ct. portfolio of 13 multifamily properties with 437 units. Keybank provided the financing for the loan.

March 17, 2023

Bank of America, Citigroup, JPMorgan Chase and Wells Fargo announced they are each making a $5 billion uninsured deposit into First Republic Bank. Goldman Sachs and Morgan Stanley are each making an uninsured deposit of $2.5 billion, and BNY Mellon, PNC Bank, State Street, Truist and U.S. Bank are each making an uninsured deposit of $1 billion, for a total deposit from the 11 banks of $30 billion. The banks say their deposits reflect their confidence in First Republic and in banks of all sizes, and it demonstrates their overall commitment to helping banks serve their customers and communities. These actions follow the receiverships of Silicon Valley Bank and Signature Bank.

March 14, 2023

The bank advised on The Altman Cos.' development of Altis Grand Lake Willis Phase II, a luxury community comprising 230 units in Orlando, Fla. Located at 6260 Juniper Pine Way in South Orlando, the upcoming building will occupy a 9-acre site adjacent to Altis Grand Lake Willis Phase I. The garden-style community, currently with no completion date, will consist of six buildings featuring one-, two- and three-bedroom units. The property is also set to include 420 parking spaces and 30 detached garage spaces.

March 08, 2023

Rockrose Development landed a $97.7 million debt package to refinance its 42-story luxury residential tower in Battery Park City. Wells Fargo supplied the loan on the developer's Tribeca Pointe property, which Rockrose built in 1999. Located at 399 Chambers Street, Tribeca Pointe features 340 apartments with 70 of the units designated as affordable housing. Amenities consist of a roof deck, a fitness center, a solarium, a children’s playroom, laundry facilities and a 24-hour attended lobby.

March 08, 2023

Columbia Residential secured $49 million, including $33 million from Key Bank, in financing to construct an affordable housing property in Tallahassee, Fla. The property, called Magnolia Family ll, will include 160 units, of which 128 units will meet income restricted requirements. Magnolia Family II is the second phase of the redevelopment of a public housing complex operated by the Tallahassee Housing Authority, which was originally constructed between 1971 and 1972.

March 06, 2023

The bank said Jessica Rascionato will lead its Commercial Real Estate team and Joanne Wyper's role as head of Commercial Banking Digital and Operations will be expanded to grow Citizens' digital-forward strategy. Rascionato will succeed Gary Magnuson, who is retiring after more than 30 years with Citizens. Wyper has led a number of key strategic initiatives, including developing a best-in-class client concierge service and pioneering an industry-leading robotic process automation program, and will now also oversee the bank's digital strategies

March 02, 2023

The bank rolled out its program in Atlanta at Focused Community Strategies (FCS). The 30-foot branch on wheels allows existing and prospective PNC Bank customers in underserved areas to conduct banking transactions, such as opening accounts and applying for loans. Throughout 2023, the Mobile Branch will visit FCS and Families First on a rotating basis, with the goal of visiting several additional community locations each week. Atlanta is the fifth market to host a PNC Mobile Branch, with the others including Chicago, Detroit, Baltimore and Dallas.

February 24, 2023

The loan is for the acquisition and rehabilitation of Silver Lake Meadows, a 52-unit affordable housing complex in Buffalo, N.Y. Silver Lake Meadows comprises seven buildings that house one- and two-bedroom units that are reserved for renters earning up to 30, 50 and 60% of the area median income. The loan borrower is a JV between Wyoming County Community Action and Cornerstone Group.

February 17, 2023

Due to the Presidents' Day holiday, LAC Group will not issue a Market Intelligence Briefing on Monday, Feb. 20. Service will resume as usual on Tuesday, Feb. 21.

February 13, 2023

The loan is for North Cove, a 611-unit affordable housing project in Manhattan's Inwood neighborhood. The financing includes $155 million in debt that backs city-issued, tax-exempt bonds, as well as $133 million in equity that was generated through the purchase of tax credits. The borrower and developer is a partnership between Joy Construction and Maddd Equities. The development will include 60,000 square feet of commercial space and offer amenities such as outdoor picnic areas, community recreation rooms and various supportive services.

February 13, 2023

The bank appointed Cannava to lead Multifamily Capital (MFC) within its Commercial Real Estate group. Wells Fargo's MFC group provides financing for multifamily housing projects through the Fannie Mae, Freddie Mac and Federal Housing Administration loan programs. Cannava will oversee all teams that execute on government-sponsored enterprise financing for market rate apartments, affordable housing, manufactured housing, student housing, health care properties and senior housing developments. Cannava will assume the position on February 27.

February 08, 2023

The bank named a top Morgan Stanley banker as global co-head of mergers and acquisitions to ramp up its investment banking franchise efforts. Jeff Hogan, who spent more than 25 years at Morgan Stanley, will join Wells Fargo later this year and will be based out of N.Y. He will lead Wells Fargo's dealmaking unit alongside David DeNunzio, the current global head of M&A.

February 09, 2023

The money will be used to renovate and expand the education and exhibition programming at its PNC Family Classroom and Gallery, located inside the Tampa Museum of Art. The museum currently serves some 14,000 children, teens and adults through on- and off-site programs in Hillsborough County and throughout the Tampa Bay region. The renovations and expansions, including a new education center, will more than quadruple that reach.

February 02, 2023

The two companies are partnering for its second Housing Affordability Breakthrough Challenge, which will focus on three categories: Financing, Construction, and Access and Resident Support. The 2023 Housing Affordability Breakthrough Challenge will consider Native, rural, suburban, Tribal, and urban solutions which have the potential to transform current practices and processes and lay the groundwork for increased housing affordability, access, and stability. Participants are invited to compete for grants of up to $3 million and two years of technical assistance to transform ideas into solutions that can be replicated in the real world. Applications are open until March 3, 2023.

February 02, 2023

The bank was named one of Fortune's Worlds Most Admired Companies, an annual ranking determined by a survey of top executives, directors and analysts rating firms in their own industry. Companies are evaluated based on nine criteria, including investment value, quality of management, products, social responsibility, and the ability to attract talent. Citizens, which said the recognition validates its employees and the services it offers, was included as one of seven banks in the U.S. Superregional Banks industry category.

January 30, 2023

The bank said Ford Jr. has been appointed regional president for New York. Ford will be responsible for new business development and deepening relationships with clients and community organizations. Ford has previously served in several roles at PNC, including vice chairman of PNC's Corporate & Institutional Banking business. Ford has nearly 30 years of political and financial industry experience in both the public and private sector.

January 23, 2023

Bank of America Community Development Banking will invest up to $150 million in equity to preserve more than 3,000 affordable homes nationwide for middle-income households in partnership with Enterprise Community Partners. The companies will help working Americans across the country earning between 80% and 120% of area median income remain in housing they can afford. Both Enterprise and Bank of America will leverage their national networks and resources to help accelerate the preservation of affordable housing.

January 20, 2023

A JV between Urban Atlantic and North Carolina received two separate construction loans, $50.6 million for 247 market-rate units and an additional $16.3 million for the construction of 106 affordable units, for their under-development Trella Uptown community. The development will be a 353-unit complex at 426 N. Tryon St. Construction is underway, with the first units expected to deliver in 2024 with completion by 2025.

January 19, 2023

The companies announced an expanded partnership, making Mastercard the exclusive payments network across Citizens' credit, debit and commercial portfolios, as well as services provider in the U.S. Mastercard and Citizens say the partnership will enable consumers and businesses with greater financial access, benefits and experiences. Citizens will also leverage Mastercard's network, technology and services to develop novel products and features to support consumer and business payments offerings.

January 18, 2023

The banks led a pair of construction loans totaling $725 million for TF Cornerstone's planned 1,386-unit multi-building apartment complex at the corner of Second Street and 54th Avenue in Long Island. Wells Fargo took the lead on a $418 million loan for one portion of the project at 2-21 Malt Drive, which will include 811 units across two towers rising 25 and 38 floors from a shared six-story podium. PNC Bank led a $307 million loan for the other at 2-20 Malt Drive, a 33-story tower above a six-floor podium with 575 units. The complex is set to start construction in Q2 2024.

January 18, 2023

A three-building, fully affordable portfolio in Manhattan, N.Y.'s Harlem neighborhood landed $120 million in financing, to be used for the rehabilitation of the properties. JPMorgan, along with the New York City Housing Authority, Dantes Partners, the New York Housing Development Corp., Walker & Dunlop and Freddie Mac provided the financing. The portfolio comprises Bethune Gardens located at 1945 Amsterdam Ave., Audubon Houses located at 1909 Amsterdam Ave, and Thurgood Marshall Plaza located at 1970 Amsterdam Ave., totaling 557 affordable units. The properties will receive both interior and exterior renovations, including upgrades to the bathrooms, kitchens, windows and flooring, as well as to the elevators and heating and cooling systems.

January 17, 2023

KeyBank Community Development Lending and Investment provided a $100 million bridge loan for Villages at Marley Station, a 757-unit mixed-income apartment community located in Glen Burnie. The borrower, Fairfield, will renovate the property and convert 100% of the units to be affordable to households earning 60% of the area median income. Built in 1963 and renovated in 1997 and 2009, Villages at Marley Station consists of 26 elevator-serviced, low-rise buildings housing 35 studios, 428 one-bedroom, 281 two-bedroom and 12 three-bedroom apartments. Fairfield's renovations to the interiors will include upgrades to HVAC, appliances, flooring, countertops, cabinets, bathtubs, plumbing and vanities.

January 16, 2023

The bank is providing the loan for the refinancing of Renaissance Plaza, a 76,000-square-foot, grocery-anchored shopping center in Atlantic City. Tenants include Family Dollar, CVS/pharmacy and H&R Block. The borrower was New York City-based investment firm Ashkenazy Acquisition.

January 13, 2023

Due to the Martin Luther King Jr. Day holiday, LAC Group will not issue a Market Intelligence briefing on Monday, Jan. 16. Service will resume as usual on Tuesday, Jan. 17.

January 12, 2023

Wells Fargo announced a $20 million commitment to advance economic opportunities in Native American communities working with Native-led organizations. The Invest Native initiative aims to address housing, small business, financial health, and sustainability among Native American communities in Arizona, Montana, New Mexico, North Dakota, South Dakota, and Wyoming. The program is designed as a grantmaking initiative to support a more equitable and prosperous future for Native Americans.

January 11, 2023

Wells Fargo is stepping back from the multitrillion-dollar market for U.S. mortgages amid regulatory pressure and the impact of higher interest rates. Instead of its previous goal of reaching as many Americans as possible, the company will now focus on home loans for existing bank and wealth management customers and borrowers in minority communities. Dual factors of a lending market that has collapsed since the Federal Reserve began raising rates last year and questions about the long-term profitability of the business led to the decision.

January 06, 2023

Coen spent the past year and a half at Greystone as a senior managing director in its CMBS group, and joined PNC as a senior originator in its agency finance division of PNC Real Estate, focused on the Southeast region. She will work out of the company's New York office.

January 03, 2023

Related Group scored a $55.7 million construction loan for an affordable housing project in Fort Lauderdale's FATVillage district. The firm wants to build a 16-story building with 263 units on land at 600 North Andrews Avenue that's owned by Broward County. Plans also call for commercial space. JPMorgan led a group of financiers that issued the construction loan to the Housing Finance Authority of Broward County, which then loaned the proceeds to Related. The loan covers a portion of the construction costs.

January 02, 2023

Wells Fargo and two other creditors filed a petition to force United Furniture Industries into liquidating its assets as part of an involuntary federal bankruptcy protection case. The filing was submitted in the Northern District of Miss. It requests a Chapter 7 bankruptcy case. The manufacturer hasn't filed for federal bankruptcy protection since unexpectedly shutting down in late November. Wells Fargo listed being owed at least $30,000 in a revolving credit claim. The other creditors participating in the bankruptcy petition are: Security Associates of Mississippi/Alabama, claiming it's owed $265,000; and V&B International, which claims it's owed $30,486 for purchase orders.

December 30, 2022

Two Trees Management secured $364 million in loans for a two-tower residential project that is rising as part of its Domino Sugar development. JPMorgan provided the financing for 346 Kent Avenue, also known as Site D, where 600 apartments will be built across two buildings that share a podium. The financing package includes $304 million in building loans and $60 million in project loans. Construction of the buildings began six months ago, and is expected to be completed within two years.

December 27, 2022

The foundation is investing a total of $1.4 million in four non-profit organizations in the Capital Region to support workforce development, housing insecurities and homeownership initiatives. The four grants are part of KeyBank's $40-billion National Community Benefits Plan. Organizations receiving funding include:

  • Social Enterprise and Training Center - $325,000;
  • Ellis Hospital Foundation - $600,000;
  • Troy Rehabilitation & Improvement Program - $300,000; and
  • Interfaith Partnership for the Homeless - $200,000.

December 21, 2022

Citizens M&A Advisory served as joint M&A advisor to QinetiQ Group on its recent acquisition of Avantus Federal from NewSpring Holdings. The transaction was valued at approximately $590 million.

December 22, 2022

JPMorgan is upping its climate ambitions, announcing a slew of new emissions reductions targets for its financing to carbon-intensive businesses, including airlines and cement manufacturers. The bank plans to reduce the carbon intensity of its aviation financing portfolio by 36% by 2030 from a 2021 baseline. In the same period, JPMorgan said it aims to cut the carbon intensity of funding to iron ore and steel companies by 31%, and by 29% for cement sector financings. JPMorgan has seen come criticism from environmental activists for continuing to provide vast amounts of financing to the fossil-fuel industry and for lagging behind rival banks such as HSBC Holdings, which announced said it will no longer support new oil and gas projects. JPMorgan said the six sectors covered by the bank’s 2021 and 2022 reduction targets account for the majority of global emissions. The bank's new targets are intended to align with the International Energy Agency's net zero by 2050 scenario.

December 20, 2022

Wells Fargo provided the loan on Monadnock's 100,000-square-foot development at 300 Huntington Street in New York City, which will have office, light industrial and retail use. The six-story building, slated for completion in July 2023, will become the new home of both Monadnock Development and Monadnock Construction, which have been housed a few blocks away at 155 Third Street for the past 47 years.

December 15, 2022

Citizens M&A Advisory served as the exclusive financial advisor to Xentaurs, a cybersecurity consultancy, on its acquisition by ATSG, a tech-enabled managed services and solutions company. Xentaurs provides consulting, design, implementation and managed detection & response services to ensure customers can evolve their digital presence while maintaining their security posture.

December 15, 2022

Nova Plantation Hotels bought the 101-room hotel at 3001 S.W. 26th Terrace from Dania Resorts for $16.75 million with help from a loan from Wells Fargo Bank. The hotel was built on the 1.64-acre site between Interstate 595 and State Road 84 in early 2022. Dania Resorts said the sale price was based on its future earnings potential.

December 13, 2022

Extell Development reached two agreements to refinance portions of its One Manhattan Square condo development, landing loans of $217 million from Bank of America and $49 million from Athene Annuity and Life Company for its Two Bridges residential tower. The larger loan covers 242 unsold condo units and a garage unit. The smaller one is secured by 113 unsold condo units. The loan reportedly covers previous debt that's set to come due.

December 13, 2022

In partnership with the Operation HOPE program, the bank will provide free financial counseling in 180 financial centers in 17 U.S. markets starting in 2023. Bank of America will offer in-person financial health coaching sessions to help individuals build savings, improve credit scores and decrease debt. Introduced initially in four financial centers in Atlanta, the program will now expand to additional centers in Baltimore, Boston and Northern Massachusetts, Brooklyn, Charlotte, Miami, Northern New Jersey, Philadelphia, Washington D.C. and others. Bank of America plans to add more markets to the HOPE Inside program in the future.

December 08, 2022

Tulfra Real Estate has broken ground on The Delford, a luxury six-story, 160-unit multifamily development at 120 West Passaic Street in Rochelle Park. Provident Bank's loan allowed the builder to begin construction on the complex. When complete in 2024, The Delford will feature one- and two-bedroom homes with modern amenities including an on-site concierge, lounging space, rooftop terrace, co-working offices, a fitness center, swimming pool with a lounging deck and BBQ grills, and covered parking.

December 06, 2022

The bank's deal to buy the retail business from Mitsubishi UFJ Financial Group closed on Dec. 1. The acquisition, unveiled in 2021, only recently received needed regulatory clearances from the U.S. Office of the Comptroller of the Currency, the Federal Reserve and the Federal Deposit Insurance Corp. U.S. Bank says the purchase underscores its commitment to creating economic opportunities for its customers and communities across the West Coast. Under the deal, customers are promised an expanded network of branches and better digital banking access.

December 06, 2022

Citizens was named Bank of the Year 2022 for the U.S. by The Banker as part of the magazine's annual global banking awards. The magazine cited Citizens' successful growth strategy since becoming an independent public company in 2014, which included the bank's acquisitions of HSBC's East Coast branches and of Investors Bancorp, and its "ambitious technology agenda." The awards are regarded as the 'Oscars of the Banking Industry,' and are designed to highlight industry-wide excellence within the banking community globally.

December 05, 2022

Previously known as the Commercial Electronic Office, Vantage creates a personalized experience through AI and machine learning to meet the financial needs of businesses at any stage of growth. The platform uses AI to provide recommendations and next steps based around each client's specific needs and created a tailored experience. Machine learning is then leveraged to continually refine personalization and ensure scalability that grants businesses the capability to grow the platform right along with their business. Wells Fargo says this is the start of a multiyear plan to become digital-first and reinvent personal finance.

November 30, 2022

KeyBank provided a $12.2 million construction loan for The Willows at Valley Run, a 60-unit affordable housing project in Coatesville, located west of Philadelphia in Chester County. The property will offer one-, two- and three-bedroom units across a trio of three-story buildings. The amenity package will consist of a fitness center, meeting room, basketball court, clubhouse, playground and a common kitchen.

November 24, 2022

A JV between Mast Capital and Rockpoint secured the loan to build a Miami Beach rental property at 3900 Alton Road. The building will be constructed, starting in 2023, on the development site located at the Julia Tuttle Causeway. The nine-story building will feature 178 multifamily units, ranging from 575 square feet to 1,440 square feet.

November 21, 2022

Spirit Realty Capital closed on an unsecured term loan facility for an aggregate amount of $500 million maturing on June 16, 2025, which allows funds to be drawn up to July 2, 2023. The facility also includes an accordion feature to increase the available term loan in the amount of $100 million, but it won't exceed $600 million in total. A total of 13 lenders participated in the term loan facility, including JPMorgan, Wells Fargo and Capital One.

November 21, 2022

Dizard, who brings more than 15 years of experience to the Investment Office role, will oversee and drive the investment strategy and investment process vision for PNC AMG. Dizard most recently served as regional investment manager for PNC Private Bank's Midwest region, where he helped drive business growth, expand client relationships and work with the Investment Office to tailor solutions to meet client needs. Prior to joining PNC, Dizard led the execution and implementation of investment strategies at two separate registered investment advisory firms in the Cincinnati-area.

November 18, 2022

In 2022, the Bank of America Charitable Foundation Detroit Market awarded more than $3.6 million in community giving grants to 64 Metro Detroit area nonprofits. Overall, the bank contributed more than $6.6 million in Michigan through grants, investments, sponsorships and engagements. These partnerships focus on ensuring individuals and families in Michigan have access to tools and resources improving economic mobility, and to essential services such as emergency shelter, affordable housing, access to food and financial education.

November 17, 2022

Citizens M&A Advisory served as the exclusive financial advisor to North American Kitchen Solutions (NAKS), a portfolio company of Weinberg Capital Group, on its acquisition by Valesco Industries. Founded in 1987 and headquartered in Elyria, Ohio, NAKS is an omnichannel supplier of customized commercial kitchen hoods, fire suppression systems, fans and other complementary products.

November 15, 2022

ANZ made the funds available through its Community Foundation to 19 charitable organizations that are delivering projects to improve financial wellbeing, housing and environmental sustainability. The Community Foundation is funded by ANZ employees, and for every dollar they contribute through the workplace giving program the bank matches it with an additional two dollars. Since 1988, around 930 grants valued at more than $4 million have been distributed to groups across Australia.

November 15, 2022

Haven Realty Capital and institutional investors advised by JPMorgan Global Alternatives formed a $415 million equity JV to acquire and develop more than $1 billion in new build-to-rent communities across the U.S. The JV will target communities with 50 to 200 homes, ranging from 1,500 square feet to 2,500 square feet. The partnership will primarily target communities with two-, three- and four-bedroom floorplans and two-car garages.

November 15, 2022

Founded in 1957, Monro provides a range of automotive undercar repair and tire services in the U.S. The company operates more than 1,300 stores and 80 franchised locations, in 32 states, serving the Mid-Atlantic and New England regions and portions of the Great Lakes, Midwest and Southeast. The $600 million revolving line of credit amends and extends an existing $600 million credit facility and will be used to refinance debt, fund acquisitions and for general corporate purposes.

November 15, 2022

Several big name financial services companies joined up with the New York Federal Reserve to announce a 12-week digital dollar program. The proposed platform will use distributed ledger technology, a decentralized peer-to-peer digital system for recording transactions between parties in multiple places at the same time. The proof of concept (PoC) project will test a version of the regulated liability network design that operates exclusively in U.S. dollars where commercial banks issue simulated digital money or tokens – representing the deposits of their own customers – and settle through simulated central bank reserves on a shared multi-entity distributed ledger. Companies participating in the program include Citigroup, Mastercard, Wells Fargo and PNC Financial Services. The platform will align with the existing regulatory framework and preserve existing requirements for deposit-based payments processing, notably maintaining customer and anti-money laundering requirements. The PoC will simulate digital money issued by regulated institutions in U.S. dollars, although the concept could potentially be extended to multi-currency operations and regulated stablecoins. The PoC will simulate tokens that are 100% fungible and redeemable with other forms of money and will include dialogue with the broader U.S. banking community, including community and regional banks.

November 14, 2022

The bank aims to more than double its existing footprint in the region. The bank currently has 16 branches in the Greater Baltimore area: six in Baltimore City, seven in Baltimore County, two in Anne Arundel County and one in Howard County. The expansion effort includes a community branch opening on Dec. 7 at the Mondawmin Mall and a branch in Downtown Baltimore. Despite the growth of mobile banking, JPMorgan says opening branches is about helping customers with financial advice and establishing a presence in communities the bank serves.

November 10, 2022

Wells Fargo promoted Adam Kleinman to commercial banking division sales executive for the Metro New Jersey and New York region. Kleinman, who has been with the bank for nine years, takes over the position effective Dec. 5. His responsibilities will include developing, supporting and leading business development officers; developing strategic sales initiatives; assisting in new client acquisition; and deepening existing customer relationships across the market.

November 09, 2022

Quotient Technology, a digital media and promotions technology company, entered into a commitment with PNC Bank in which the financial institution committed to provide a senior secured asset-based revolving credit facility of $50 million. The funds will be used to retire the maturing convertible note obligations and to fund capital expenditures to strengthen and grow the business.

November 09, 2022

Citigroup will purchase Deutsche Bank's Mexican banking license in order to continue Citigroup's corporate and investment banking operation in the country, following the planned sale of its local retail unit. Financial details weren't disclosed.

November 09, 2022

Jones Street Investment Partners secured $77.9 million of construction financing to build a multifamily asset in Southern Maine. KeyBank supplied a $70 million, floating-rate loan and Fidelity provided $7.9 million of preferred equity for Jones Street's planned Seacoast Residences in Kittery, Maine, on property it acquired in December 2020. Located at 76 Dennett Road across the border from Portsmouth, N.H., the five-building garden-style apartment community will feature 282 units. Its amenities will include a swimming pool, a fitness center, a dog park, a sun deck and on-site nature trails.

November 09, 2022

BNP Paribas is expanding its equity research house Exane in the U.S., and plans to increase coverage of U.S. companies to 450 stocks from its current 180 stocks by 2025, mainly in the technology, media, telecommunications, consumer, healthcare and industrials sectors. It also intends to boost its workforce with analysts, traders and salespeople, BNP said. The strategic plan foresees at least 50 new hires by 2025.

November 08, 2022

Long Island-based developer Farrell Companies secured the financing to build a multifamily development. Located on Southeast Central Parkway in Martin County, Central Parkway Lofts will comprise 172 units with 10% of them dedicated as workforce housing for residents making no more than 80% of Martin County's area median income. Amenities in the four-building complex will include a clubhouse, fitness center, pool, jacuzzi and a dog washing room. The building will open in June 2023.