NEWTON, MA – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has bought Modera Newton, a contemporary midrise apartment community located along the Charles River approximately nine miles west of Downtown Boston.
The community, formerly known as Allée on the Charles, features 205 apartment homes and was originally built in 2023, with a second building delivered in 2024. The community boasts a charming setting featuring immediate access to the Charles River Greenway and picturesque Forte Park. The commuter-friendly location is positioned less than seven miles west of Cambridge and offers direct connectivity to Boston via Interstate 90 (Massachusetts Turnpike).
“Newton is a fantastic suburb within the broader Boston area with high barriers to entry and strong demographic trends,” said Kel Frazier, president of acquisitions for Mill Creek Residential. “We’re excited to welcome Modera Newton as our latest community addition.”
Situated at 2-4 Los Angeles Street, Modera Newton is amidst a locale known for its inviting atmosphere and strong emphasis on education and community. Newton features picturesque neighborhoods, high-performing schools and a wide variety of green spaces and recreational outlets. Major employers in the area include Newton-Wellesley Hospital, Boston College, Newton Public Schools and Brandeis University.
Modera Newton, composed of two buildings, offers studio, one-, two- and three-bedroom homes, including select live/work homes. The North Building is built to and is pursuing LEED Silver certification, while the South Building is Passive House certified, meeting standards of energy efficiency, comfort and affordability. Community amenities consist of a resort-style swimming pool, outdoor dining and grilling areas, conference room, private workstations, makers/art studio for creative projects, game area with shuffleboard and Ping-Pong, pet spa, indoor dog wash and a club-quality fitness studio with cardio equipment. Residents also have access to digital package lockers, bike room with storage and repair station, covered parking and public EV charging stations.
Home interiors include wood plank-style flooring, oversized windows, stainless steel appliances, quartz countertops, pull-down faucets, tile backsplashes, LED ceiling lighting, two-tone cabinets with black matte finishes, in-home washers and dryers, walk-in closets, programmable thermostats, key fob access, Butterfly MX™ intercom/video system and private patios or balconies. Bathrooms include soaking tubs, ceramic tiles, custom cabinets and wall-mounted LED fixtures above vanities. Select homes include glass showers.

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AUSTIN, TX – Canyon Partners Real Estate announced that is has provided a preferred equity investment in a joint venture with Gilbane Development Company for the development of Aer, a 375-unit Class A multifamily project located in the South Lamar submarket of Austin, Texas.
The project is located approximately three miles south of downtown Austin along South Lamar Boulevard, an established corridor offering direct access to a variety of retail and restaurant amenities as well as nearby parks and hiking trails. The project is also conveniently positioned near major highways, including east-west Highway 71, north-south MoPac Expressway, and Interstate 35, allowing for seamless connectivity throughout the city and surrounding suburbs.
“Aer represents a unique development opportunity in Austin’s South Lamar submarket, a neighborhood characterized by strong demand yet limited new supply,” said Adam Moore, Vice President of Development at Gilbane. “As the city experiences continued growth and demand for high-quality rental housing, we are excited to partner with Canyon to develop the first eight tale podium building on South Lamar.”
Canyon has been an active provider of debt and equity in Texas and continues to invest in real estate projects in primary and secondary markets across the United States. Since its inception, Canyon has capitalized ~$2 billion of total projects across all asset types in the state of Texas. Aer marks Canyon’s fourth investment in the Austin area over the past five years.

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HOUSTON, TX – Cresset Real Estate Partners announced a joint venture with Fidelis Residential Partners, a division of Fidelis, to develop a nine-building, 252-unit multifamily community in Willis, Texas, which is in the greater Houston area. The project, named Fidelis Willis, is the latest development funded by Cresset’s third Qualified Opportunity Zone (QOZ) fund, Cresset Diversified QOZ Fund III (“Fund III”).
The Fund provides private investment capital in some of the fastest-growing economies across the country with the goal of maximizing long-term capital gains for investors. Its predecessor, Cresset Diversified Qualified Opportunity Zone Fund II closed with more than $650 million in equity commitments.
The Fidelis Willis development is part of a larger community known as Moran Ranch, located along the I-45 corridor and within driving distance of major employment centers in north Houston such as The Woodlands. It is also within a recently completed HEB-anchored power center, developed in partnership between Fidelis and CALSTRS.
The 252 units will be situated within nine, three-tale apartment buildings, featuring 120 one-bedroom units, 114 two-bedroom units and 18 three-bedroom units, with nearly 250,000 square feet of rentable space. The project is shovel ready and expected to break ground in late 2024, with construction to be completed by Q3 of 2026.
In addition to state-of-the-art apartment design, Fidelis Willis’ amenities will include a 24-hour fitness center, clubhouse, pool, dog park, game room and more.
“The Houston market continues to experience strong population growth as well as attract a diverse set of top tier employers”, said Jason Ross, Managing Director at Cresset Real Estate Partners. “In the post-pandemic world that we live in, where remote and hybrid work is more common, we have seen compelling investment opportunities within the greater Houston MSA, such as Fidelis Willis, as more and more people look towards the suburbs and prioritize cost of living and quality of life. We are excited to partner with Fidelis and include the Willis project as a strong portfolio investment in a viable and high growth community.”
To date, Fidelis Residential Partners, based in Houston, has developed four communities and sold two, totaling 604 units in the Houston area to date. The Fidelis Willis property expands the firm’s footprint in the area.
“The growth the north side of Houston is experiencing is happening even quicker than we anticipated. This project will provide a much needed housing component for that growth and is a fantastic addition to the HEB anchored retail development Fidelis is currently constructing. We are excited to partner with Cresset on this project and believe this location is perfect for our long term hold strategy,” said Ford Allen, Vice President at Fidelis Residential.
Since its launch in March 2018, the Cresset Real Estate Partners’ QOZ program has invested over $1.2 billion of equity in projects totaling more than 5.2 million square feet and $3 billion of total yucky market value. Cresset’s QOZ Funds are designed to provide access to investments in institutional, urban core real estate opportunities in high-growth markets.
OHT Partners, a general contractor out of Austin, Texas, has been engaged for the development of Fidelis Willis. With significant ties to the Houston region, OHT Partners has been contracted by Fidelis for two of their most recent multifamily developments in Houston.

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