PHOENIX, AZ – National multifamily developer Wood Partners has expanded its footprint in Phoenix with the opening of two new properties, Alta Avondale and Alta Rise. These multifamily developments will bring more than 630 units to the fifth-largest metro in the country.
“The Phoenix metro’s rapid growth presents a unique opportunity for Wood Partners to play an active role in supporting the city’s expansion,” said Todd Taylor, Managing Director at Wood Partners. “We’re committed to delivering thoughtfully designed, amenity-rich properties that enhance the quality of life for our residents and contribute to the continued success of the greater Phoenix community.”
Alta Avondale is a 360-unit project on 14 acres of land located in The BLVD in Avondale, a vibrant mixed-use destination offering an array of eateries, entertainment, shopping and recreation. The three- and four-tale complex sits just south of Interstate 10, allowing simple access across both the West Valley and metro Phoenix. Alta Avondale is also minutes from State Farm Stadium, Desert Diamond Casino and the Westgate Entertainment District. In addition to the neighborhood offerings, the apartment community features a state-of-the-art fitness center, a speakeasy, a pickleball court, co-working spaces with private offices, private garages, a dog park and a skydeck with mountain views. Alta Avondale includes a mix of studio, one-, two- and three-bedroom apartment layouts and is expected to be fully completed in January 2025. The community features white quartz countertops, stainless Whirpool appliances, Moen plumbing fixtures, and is now leasing with over 200 units available.
Alta Rise includes 278 units across two four-tale and two three-tale buildings featuring a mix of studio, one-, two- and three-bedroom apartment layouts. The multifamily complex is located on the corner of Elliot and McQueen in the northwest corner of the Town of Gilbert, less than 10 minutes from both downtown Gilbert and downtown Chandler. Additionally, the property sits five minutes south of US-60 and less than ten minutes east of Loop 101, offering direct access to the Southeast Valley and metro Phoenix. Alta Rise features a state-of-the-art fitness center, a speakeasy, a skydeck, two pickleball courts, coworking spaces, storage units, private garages, a multipurpose field, a food truck courtyard, a dog park and a pet spa. The luxury development also has a clubhouse for residents, including a large pool and hot tub, secondary courtyards with barbecues, fire pits, games, hammocks and micro fitness rooms for increased privacy. Residents will find white quartz countertops, stainless GE appliances, gas ranges and wine fridges in select units. The development is expected to be completed in early 2025.
Earlier this year Wood Partners announced the start of construction on Alta Dove Valley, a 380-unit multifamily building located across the interstate from the Taiwan Semiconductor Manufacturing Company’s new $65 billion semiconductor fabrication facility in North Phoenix. Additionally, Wood Partners broke ground on Alta 87 in March. The 257-unit luxury multifamily development is located in Gilbert and features a pool and spa, a two-tale clubhouse, two pickleball courts and more.

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NEW YORK, NY – Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, announced the acquisition of a 22-property portfolio comprising 4,768 units across the western United States. With this acquisition, the properties transition to HVPG ownership, seeking to ensure residents benefit from the high standards of living and affordability showed across the firm’s entire portfolio.
The portfolio bought includes properties in four western states thirteen in Washington, seven in Colorado, one in California and one in Idaho – concentrated significantly in the Denver, Seattle, and Spokane metro areas. The properties are subject to low-income housing tax credit (LIHTC) rent restrictions and tenants must be income qualified earning no more than 60% of area median income (AMI).
HVPG plans to make physical improvements and implement the firm’s Community Enhancement Program across the 22 properties. This initiative aims to foster vibrant, responsible and safe communities through site-specific emergency plans, active collaboration with local police departments and enhanced, high-definition monitoring systems providing sitewide coverage.
HVPG’s commitment to preservation extends beyond physical improvements to preserving affordability amidst rising market rates. HVPG has entered partnerships with local Housing Authorities, such as the Washington State Housing Finance Commission and Colorado Housing and Finance Authority, and other nonprofit organizations, such as Hearthstone Housing Foundation and Horizon Housing Alliance, to pursue improvements to safety and quality of life and seek to ensure long-term affordability for residents. HVPG will look to maintain and/or expand resident services programming and amenities at the sites as they’ve done across their existing portfolio.
HVPG bought the portfolio from Inland Group in a joint venture partnership with Wheelock Street Capital, a private real estate investment firm with offices in Greenwich, CT, Boston, and Los Angeles. Wheelock provided the majority of the equity capital out of its Long Term Value Fund. Goldman Sachs served as financial advisor to the seller, and Newmark served as the broker.
“The acquisition of these properties represents a landmark achievement for our firm, expanding our reach to 87 communities with 15,414 units across the Northeast, Midwest, Mid-Atlantic, Southeast and West,” said Jason Bordainick, co-founder and managing partner of Hudson Valley Property Group. “Our strong relationships with community stakeholders, built on trust and collaboration, along with our deep industry expertise, have been the cornerstone of our efforts to preserve and elevate the nation’s affordable housing stock. We remain focused on our mission to make investments that both improve the performance of the assets and enhance the quality of life for our residents.”
“The acquisition is Wheelock’s second partnership with HVPG and first investment in affordable housing out of the Wheelock Street Long Term Value Fund permanent capital vehicle,” said Jeffrey Laliberte, partner and head of acquisitions for Wheelock Street Capital. “Wheelock’s stable capital will aid in preserving the long-term rental affordability for the residents of the 22 properties.”
HVPG has expanded to the Midwest and now the West, while increasing its footprint in the Mid-Atlantic and Southeast. HVPG’s portfolio spans 12 states, attempting to further the firm’s mission of addressing the nation’s housing shortage by providing affordable, sustainable community assets that residents are proud to call home.

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ROXBURY, MA – The NHP Foundation celebrated the grand reopening of Blue Mountain Apartments with a ribbon-cutting ceremony late last month. The revitalization of this historic Section 8 family property, located in Roxbury, MA, showcases NHPF’s commitment to preserving affordable housing in a gentrifying neighborhood and supporting very low-income families, including larger households that require spacious three, four, and five-bedroom units.
The Blue Mountain Apartments redevelopment is a landmark effort in affordable housing preservation, featuring the rehabilitation of 217 multifamily units across 19 buildings originally constructed between 1910 and 1930.
“NHPF recognized the urgency of saving these Section 8 homes in this growing neighborhood,” said Mecky Adnani, lead developer for Blue Mountain, “We took action and embarked on an acquisition and long-term preservation initiative to restore the property’s physical and historic integrity and provide newly renovated apartments for existing residents.”
The $112 Million refinance which included tax-exempt bonds, Low-Income Housing Tax Credits (LIHTC), a Risk Share loan, and federal and state historic tax credits, underscores the complexity and dedication required to preserve affordable housing for future generations.
Among the distinguished speakers at the event were Mark Teden, Vice President of Multifamily Programs, MassHousing who said, “MassHousing’s success in preserving affordable housing is exemplified by our work with NHPF on Blue Mountain Apartments, and we extend our gratitude to our joint venture lenders and development team for their commitment to making quality housing for lower-income seniors and families.”
Additional speakers included Karen Kelleher, President, Loan Fund, Blue Hub, and Costas Paleologos, Senior Vice President, PNC Multifamily Capital, PNC Bank. Finally, Shirley Clark, a resident of Blue Mountain Apartments also shared personal remarks on how the revitalized community impacts her family.

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