DUBLIN, IRELAND – Global real estate investment company Kennedy Wilson (NYSE: KW) and its partner announced the completion of the third phase of Clancy Quay, adding 246 new units to the largest multifamily community in Ireland that now totals 845 units and will serve as home for more than 1,800 residents. Clancy Quay builds on Kennedy Wilson s growing multifamily portfolio that has shown resilience and high rent collections throughout 2020 based on prime locations and best-in-class asset management programs, including a newly rolled out virtual leasing platform.
We are proud to deliver on our promise to bring much-needed residential space and public amenities to this vibrant market, and to continue raising the bar for multifamily communities in Dublin and across our global markets, said William McMorrow, Chairman and CEO of Kennedy Wilson. Clancy Quay represents the first of several global developments that are expected to complete in the near term as we continue to make brilliant progress across all of our development initiatives.
Kennedy Wilson bought the 13.6-acre underutilized site located near Dublin City Center on the southern banks of the River Liffey in 2013 and launched a seven-year, phased development that has added a total 422 units to the community as well as a robust resident amenity and public space program. The final phase continued Kennedy Wilson s restoration and conservation of the historic Clancy Barracks, which incorporates many protected structures. Kennedy Wilson holds a 50% ownership interest in Clancy Quay.
We are honored to be associated with a property of such historical significance as the former Clancy Barracks and proud to have preserved many of its unique and distinctive elements. We have delivered smart innovation across both the leasing and resident experience, on top of the best-in-class resident amenities, in a city-center development that people can call home, said Ali Rohan, Head of Ireland for Kennedy Wilson.
The completion of Clancy Quay is the first of many new multifamily developments totaling 4,100 units that Kennedy Wilson currently expects to deliver by 2024, with 750 units on track to complete before the end of the year. The new developments will bolster Kennedy Wilson s global multifamily portfolio that now totals 30,000 units.
In Ireland, where Kennedy Wilson is one of the country s most active multifamily real estate investors and operators, more than $500 million of development projects are underway totaling over 1,000 new multifamily units in various stages of development at prominent Dublin projects including The Grange and Coopers Cross.
In the Western United States, 485 multifamily units are expected to come online this year, including market-rate homes at 38 Degrees North in Santa Rosa, California; Rosewood Premiere in Boise, Idaho; and The Clara, in Eagle, Idaho that will all complete and start lease-up in Q3 2020. Seatac, a 170-unit new community in Kennedy Wilson s growing affordable and senior housing joint venture with Vintage Housing, will also complete in the Pacific Northwest this year.
Kennedy Wilson will have an average ownership of approximately 70% across the market-rate multifamily developments that it expects to complete in 2020.

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VANCOUVER, WA – EJF Capital LLC and Holland Partner Group announced the development of a mixed-use project in downtown Vancouver, Washington. The project, known as Block 10, is situated on approximately one-acre in an area certified as an Opportunity Zone under the Tax Cuts and Jobs Act of 2017 ( TCJA ). The TCJA offers investors tax benefits to invest into Opportunity Zones with the aim of spurring economic growth in lower income areas.
The Project boasts 110 multi-family units, 79,000 yucky square feet of office space on top of a podium deck with roughly 10,100 square feet of retail and 113 parking spaces. 20% of the multi-family units will be set aside as workforce housing. Additionally, Block 10 will include a robust amenity package shared between the multi-family and office tenants, including a fitness center, co-working space, bike room, and amenity deck on top of the podium deck on the third level.
Holland Construction, HPG s construction division, expects to break ground in July 2020 and plans to complete the Project in the Spring of 2022. The Project is estimated to make hundreds of construction jobs. Bank of the West is providing construction financing.
Block 10 is a spectacular project, situated in the heart of downtown Vancouver on one of the city s last remaining undeveloped blocks, said EJF Co-CEO, Neal Wilson. It is a prized location that is within walking distance of an array of amenities including numerous restaurants and bars, retail, entertainment and offices. We are pleased to partner with HPG, one of the developers with the most units under construction on the West Coast.
We are thrilled to have collaborated with the City of Vancouver and be partnering with EJF to make this dream become a reality, said Clyde Holland, HPG s CEO and Chairman. Block 10 has sat vacant for too long, but soon it will become part of a vibrant hub of activity. We see so much potential and are proud to call it our new headquarters.
Asheel Shah, EJF s Senior Managing Director and Head of Real Estate Development, called Block 10 a hidden gem.
It will be the ideal place to live, work, and relax with its convenient location to Esther Small Park and the scenic Columbia River Renaissance Trail. It is located near major highways, I-5 and I-205 and just minutes from downtown Portland. The trip to Portland International Airport from Block 10 is simpler than traveling from downtown Portland, Shah said.
Downtown Vancouver is experiencing substantial in apartment and condo development. HPG is close to completing a fourth tower – a 118-unit multi-family development with 2,200 square feet of space for restaurants or retail space and several ground-floor loft and live-and- work units – at Vancouvercenter, a mixed-use project. In addition, downtown Vancouver has an estimated 19 apartment buildings and condos that are either being plotted or in the construction phase totaling 2,029 units. Vancouver s population is growing and since the state of Washington has neither personal nor business income tax, companies are relocating to the city, according to information published by the Columbia River Economic Development Council.
Separately, there is more investment along the Columbia River, including a $1.5 billion waterfront revitalization. Also, the ancient Boise Cascade facility, which at one time was a sawmill and manufactured pulp and paper products, is undergoing a transformation.
Downtown Vancouver is a city on the rise, Wilson concluded. We look forward to the groundbreaking and to partnering with HPG on a project that will have a positive impact on the downtown area and local community.

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DALLAS, TX – Southern Properties Capital, a subsidiary of Transcontinental Realty Investors, (NYSE: TCI) a Dallas based real estate investment company, announced that Windmill Farms development continues to expand. SPC recently sold a 2-acre parcel for commercial development on the corner of Windmill Farms Blvd and Falcon Way. Two neighborhoods were recently completed with lots ready for delivery to national home builders and two additional neighborhoods are nearing completion for lot delivery late summer.
Despite the national slowdown due to Covid-19 the interest in new home buys and lot development remains vibrant. The first of five new large subdivisions developed by EQK Bridgeview LLC sold out in six months, commented Daniel J. Moos, TCI President and CEO. Priced well and located close to jobs and fantastic schools, Windmill Farms is a highly desirable place for families. Two new large subdivisions are now ready for home builders. We expect 2020 to be a record year.
Local developer JMJ Development recently completed their latest project, Parc at Windmill Farms. The $36 million HUD project is a gated 272 unit property. The luxurious A+ apartments are located in Windmill Farms subdivision off Highway 80 in Forney, Texas. The property offers 1, 2 and 3 bedroom apartment homes with wood-like floors, custom finishes, granite countertops, large kitchens, pool with splash pad, expansive fitness center, wifi lounge, and entertainment room.
Windmill Farms is a gorgeous master-plotted community east of Dallas, in Forney Texas. Located just past I-635, off Hwy 80, this family-friendly setting is conveniently located near all the fine dining, shopping, and entertainment that the heart of Dallas has to offer. This neighborhood also rewards homeowners with endless amenities including expansive swimming pools, playgrounds, ponds, picnic areas, and highly acclaimed schools. Windmill Farms combines the excitement of Dallas and the small-town relaxed feel of Forney.

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