LOUISVILLE, KY – Morgan Properties, the nation s largest private owner of multifamily communities, announced its entry into Kentucky with the $39 million acquisition of Blankenbaker Crossings, a 236-unit garden-style apartment community in Louisville. Kentucky is now the 20th state in Morgan Properties rapidly growing portfolio, solidifying the company s presence as a leader in multifamily and marking a strategic expansion into one of the Heartland region’s most promising markets.
Entering Kentucky and adding the 20th state to our growing portfolio is a pivotal way to kick off Morgan Properties 40th-anniversary year, said Jonathan Morgan, Co-President of Morgan Properties and President of Morgan Properties JV. As a company, Morgan Properties remains bullish on the Midwest and will continue to strategically identify opportunities where we can leverage our four decades of success in multifamily to enhance the living experience for residents in high-growth markets here and across the country.
Blankenbaker Crossings offers convenient access to public transportation, major employment hubs such as UPS, Norton Healthcare, and Ford Motor Co., and local Louisville attractions like Waterfront Park and a thriving dining and entertainment scene. Built in 2005-2006, the property maintains a 96% occupancy rate and provides a significant repositioning opportunity, as most units remain in original condition. Morgan Properties plans to invest $2.1 million in renovations and upgrades including kitchen and bath renovations, the addition of washers and dryers, smart apartment features, and new community amenities such as a pickleball court, dog parks, and Amazon package hubs. These investments aim to enhance the property s curb appeal and deliver an exceptional living experience for residents.
Expanding into Kentucky is a natural extension of our robust footprint in neighboring states like Ohio and Indiana, said Jason Morgan, Co-President of Morgan Properties and President of Morgan Properties Special Situations. Blankenbaker Crossings presents a compelling opportunity to bring our proven professional management expertise and value-add repositioning strategies to a new, highly desirable market while capitalizing on Louisville s strong rent growth and economic stability.

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CHARLOTTE, NC -The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in partnership with the City of Charlotte, announced the opening of a 200-unit affordable housing community in Charlotte, North Carolina. The development provides high-quality, amenity-rich housing to residents earning between 30% and 60% of the Area Median Income (AMI). A limited number of workforce housing units are also reserved for residents earning up to 80% AMI.
Residences at Cedar Creek demonstrates our unwavering commitment to delivering affordable housing developments that prioritize quality and convenience, said Jason Mochizuki, Vice President of Development at The NRP Group. With a robust amenities package tailored for working professionals and families in the area, this community will ensure residents delight in a high standard of living. With its prime location along the I-77 corridor, residents will delight in seamless connectivity to employment hubs, schools and essential services throughout Charlotte.
Located at 7224 Forest Point Boulevard in the Southeast district, the development offers simple access to I-77 and is a 15-minute drive to Charlotte Douglas International Airport. The development is also located near ample retail and dining options, as well as pharmacies, schools and job centers.
Residences at Cedar Creek represents a pivotal step forward in our mission to ensure every Charlotte resident has access to safe, affordable, and high-quality housing, said Warren Wooten, Assistant Director of Affordable Housing at the City of Charlotte. As our city continues to grow and attract new families and businesses, developments like this play a crucial role in addressing housing needs and fostering economic inclusivity.
Residences at Cedar Creek consists of three four-tale buildings designed to accommodate both working professionals and growing families. Each apartment boasts open-concept layouts complete with private patios/balconies, spacious walk-in closets and sleek modern cabinetry. The development offers one-to-four-bedroom floorplans to suit diverse needs and features best-in-class amenities such as a 24-hour fitness center and a conference center with a WiFi-enabled cyber café ideal for remote work. Additionally, family-friendly amenities include an onsite playground and covered picnic areas.
Bank of America and KeyBank provided financing for the project. The City of Charlotte invested $2.5 million in Housing Trust Fund gap financing in this development and the North Carolina Housing Finance Agency provided $22 million in 4% Low-Income Housing Tax Credits.
Bank of America is pleased to help finance Residences at Cedar Creek, providing much-need affordable housing to families in Charlotte, said Miles Cary, Senior Vice President of Community Development Banking at Bank of America. Working with our partners at The NRP Group, we are helping build safe and strong communities that are retail- and commuter-friendly.
KeyBank is thrilled to have provided a permanent source of financing for the citizens of Mecklenburg County, said Robbie Lynn, Senior Vice President at KeyBank. The partnership between Mid Atlantic, NRP, the county and city shows what can be achieved with strategic public-private partnerships accomplishing much-needed housing inventory and affordable home goals.
The NRP Group has developed more than 4,000 units in North Carolina. Residences at Cedar Creek is the company s eighth development in Charlotte, comprising over 2,000 units to date.

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WASHINGTON, DC – Clear Investment Group announced the acquisition of the iconic 681-unit Marbury Plaza in Southeast Washington, D.C. The property, once home to notable residents including Isaac Hayes, will undergo a transformative rebranding to become Langston Views, a name that reflects both the community’s vibrant history and its promising future, given Clear’s inclusive approach to community building.
Marbury Plaza has been a cornerstone of the local community for decades. Clear Investment Group’s revitalization efforts will feature modern amenities that enhance the living experience for current and future residents. Plotted upgrades include a new fitness facility, upgraded locker rooms and swimming pool areas, advanced security systems, and renovated common spaces. Additionally, an on-site convenience store will provide everyday essentials within arm’s reach.
The acquisition and rebranding were made possible through collaboration with the Office of the Mayor and the Attorney General. This partnership underscores Clear’s commitment to working closely with local authorities to bring about positive change, while strengthening local partnerships.
“This acquisition exemplifies Clear’s mission to revitalize distressed multifamily housing using ethical, sustainable, and transparent practices,” said Amy Rubenstein, CEO of Clear Investment Group. “Langston Views will honor its historic legacy while offering modern amenities and fostering a thriving, diverse community. We are proud to work alongside city leadership to provide housing solutions that benefit Washington, D.C. residents and align with our commitment to positive social impact.”
Clear’s acquisition of Langston Views dovetails seamlessly with its portfolio strategy, focusing on revitalizing urban multifamily housing to deliver long-term value for both investors and the community. The rebranding of Marbury Plaza into Langston Views symbolizes a new chapter—one rooted in community engagement, modern living, and respect for the property’s rich heritage, while demonstrating its ongoing dedication to improving housing standards and making vibrant, sustainable communities.
“Langston Views is a prime example of Clear Investment Group’s dedication to identifying opportunities for impactful investment and making dynamic livable spaces,” stated Razi Uddin, Clear Investment Group’s CFO and Managing Director. “The rebranding and upgrades will strengthen the property’s legacy while supporting the city’s ongoing efforts to provide welcoming, safe, quality, affordable housing – not just a house for our residents, but a home.”
With this Washington D.C. acquisition, Clear Investment Group significantly enhances Clear Opportunities Fund I, with its 5th portfolio acquisition, reinforcing its position as a leader in the strategic acquisition and disposition of multifamily assets, delivering value for its investors across a growing national footprint. “”We are thrilled to buy our first property in the Washington D.C. area which aligns perfectly with our growth strategy and commitment to finding distressed assets in the workforce-housing sector,” added Rubenstein. “By acquiring these units at the current price point, we see an brilliant opportunity to generate attractive returns for our investors while expanding our portfolio in key geographic areas.”

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