FORT WASHINGTON, PA – Local officials joined prominent East Coast developer Jefferson Apartment Group (JAG) and equity partner CP Capital to celebrate J Veridian Upper Dublin, an amenity-rich, 310-unit Class A community in Fort Washington, Pennsylvania.
Located at 1125 Virginia Drive, the site of a former office park, the community comprises three 5-tale buildings and 8 acres of walkable open space with a 1.4-mile trail connecting to the Cross County Trail.
Upper Dublin Township has worked to revitalize and reimagine the office park as a mixed-use hub with commercial, residential, and recreational offerings.
And up until today, the residential was missing, Upper Dublin Township Commissioner Harm Scherpbier said during the April 14 ribbon-cutting. I believe that more residential buildings help make the atmosphere people are looking for in this area, so thank you Jefferson Apartment Group for bringing J Veridian to our township.
The community s outdoor amenities include two pickleball courts, a dog park, community garden plots, and a private resort-style courtyard featuring a swimming pool, grilling stations, fire pits, hammocks, pocket parks, and lounge areas.
Robust indoor amenities also enhance a resort lifestyle at J Veridian. Residents delight in a grand clubroom with entertainment kitchen and double-sided fireplace, game area with billiards, shuffleboard, and arcade gaming, a theater with surround sound, leading-edge fitness center, a co-working area with office pods, and more.
Jefferson Apartment Group is proud to make communities that elevate apartment living for residents and increase much-needed housing supply, said Drew Chapman, JAG Senior Vice President and Development Partner. Our partners at CP Capital shared our vision for J Veridian Upper Dublin and recognized the high-impact potential of this development. We are pleased to have forged this new relationship with them and are hopeful to continue investing together.
Units at J Veridian include 1- to 3-bedroom floor plans. Every apartment reflects JAG s luxury standard, including top-line quartz countertops, stainless steel appliances, tile backsplashes, and sleek plank flooring in the living areas.
Multifamily remains a necessity-driven asset class, where demand for high-quality, accessible housing endures, said Jay Remillard, Executive Managing Director at CP Capital. We are excited to meet this demand in the Philadelphia region with a project and partner that exemplifies market-leading multifamily that aligns with our long-term investment strategy of capitalizing on market cycles and strong supply-demand fundamentals.

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WEST BABYLON, NY – Preservation Equity Fund Advisors (PEF Advisors), a real estate private equity group focused on preserving existing affordable housing in high-cost markets, announced their recent acquisition of Belmont Villas, a 164-unit apartment community in West Babylon, New York. Belmont Villas is located in Suffolk County, a high-cost rental market on Long Island’s South Shore.
The units at Belmont Villas are restricted to residents aged 55 and older. The property is located on Long Island, approximately one hour from New York City. Built with low-income housing tax credits in 2009, the property is restricted to residents with income levels at 60% of Area Median Income (AMI).
The property is comprised of eight two-tale residential buildings in a low-density setting with 13.9 units per acre. The property features 164 one-bedroom units averaging 1,100 square feet; units include an extra room for a den or guest bedroom, providing a competitive edge to other one-bedroom units in the market. Property amenities include a clubhouse, gated access, fitness center, library, game room, and picnic area with barbecue.
Resident amenities include balconies or patios, in-unit washer/dryer, vinyl plank flooring, granite countertops in select units, central heating/cooling, and fully equipped kitchens. As of closing, the property was 98.8% occupied.
“Long Island continues to experience a significant shortage of affordable housing, particularly for senior residents. Belmont Villas benefits from this strong demand dynamic, which supports long-term occupancy, rent stability and makes a highly resilient investment income profile,” said Ann Caruana, President and Chief Investment Officer at PEF Advisors. She continues, “We’re pleased to buy a high-quality property from a respected developer, recapitalize it to address deferred maintenance, and ultimately preserve the affordability when the property becomes at-risk towards the end of our hold period.”

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WASHINGTON, DC – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with Marshall Heights Community Development Organization (MHCDO), announced the financial closing and groundbreaking of The Waymark, a 109-unit, affordable community in Washington, D.C. s Ward 7. The new housing development will be reserved for families and individuals earning up to 30%, 50% and 80% of the Area Median Income (AMI).
The milestone underscores The NRP Group s commitment to expanding its national portfolio of high-quality, best-in-class affordable housing at a time when the country faces heightened economic uncertainty and tightening capital markets.
This is a uniquely challenging site, but it offers fantastic connectivity through the nearby Metro station and bus lines, said Chris Marshall, Vice President of Development at The NRP Group. The Waymark exemplifies our strategic approach: partnering with mission-driven organizations like MHCDO to fearlessly tackle tough but very well-located sites, to ensure that cost-burdened families can afford simple access to transportation options and daily amenities. This project is a testament to the District s commitment to ensuring essential housing remains viable, even as development hurdles intensify.
Located at 4435 Benning Road NE, the transit-oriented community is just one block from the Benning Road Metro Station and multiple bus lines, offering residents means to reach the entire District. The site provides nearby bike-share access and pedestrian-friendly infrastructure, making a highly walkable environment in a neighborhood where land availability is limited and parking is scarce.
The project coincides with the District s broader revitalization efforts, including the plotted redevelopment of the RFK Stadium site and the return of the Washington Commanders in 2030. The housing development is located one stop away from the Stadium-Armory station, giving residents quick access to the RFK Stadium campus, which is undergoing a transformative $2.7 billion redevelopment that will make approximately 14,000 construction jobs and 2,000 permanent positions, fueling economic growth in Ward 7.
MHCDO has proudly served under-resourced neighborhoods in Washington, D.C. for more than 45 years, and we are honored to collaborate with The NRP Group on this transformative project, said David Retland, Chairman of Marshall Heights Community Development Organization. Our headquarters is located just six blocks from the new development, which allows us to remain deeply connected to the residents of this community. This partnership sets a new precedent for delivering high-quality affordable housing that ensures residents have access to the resources they need to thrive. Through our holistic approach to economic development, we aim to help Ward 7 residents go up the economic continuum and make pathways to better lives and greater opportunities.
The Waymark comprises a mix of studios, one-, two- and three-bedroom residences, including 22 permanent housing units reserved for individuals at risk of homelessness or previously unhoused.
The 109-unit, single-building apartment spans nine floors and features a wide range of amenities. On the first floor, a multi-use space will serve as a hub for resident programs, while the second floor will feature a fully equipped fitness center and a reservable family function room for events and gatherings. MHCDO will provide a robust suite of resident services, including financial literacy workshops, job readiness training and access to professional development opportunities.
Outdoors, residents will delight in a landscaped front lawn along with a well-designed playground and seating areas that encourage social interaction. In addition, the project will include a placemaking art installation to reinforce neighborhood identity and contribute to the beautification of the site. The piece will be highly visible and made by a local artist.
Financial partners for the new development include a mix of public and private institutions, including the DC Department of Housing and Community Development (DHCD), which provided soft debt; the DC Housing Finance Agency (DCHFA), serving as the bond issuer; and DC Green Bank, supporting sustainable development initiatives. Private sector partners include KeyBank as the lender and U.S. Bank as the tax credit investor.
This project exemplifies what can be achieved when public agencies, private partners, and the community work together, said Colleen Green, Director of the DC Department of Housing and Community Development (DHCD). It is truly responsive to the housing needs of District residents and reflects our commitment to long‑term affordability, equitable development, and expanded pathways to economic mobility.
The Washington, D.C. metropolitan area remains a priority for The NRP Group and the firm s latest expansion reflects strong confidence in the region s long-term rental housing market. The NRP Group has developed more than 68,000 apartment homes since 1994, and currently manages over 33,000 residential units across the U.S.
Construction for The Waymark will be completed by the end of 2027.

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