SAN JOSE, CA – Urban Catalyst, a real estate fund manager and developer based in San Jose, California, has launched a new fund, UC Multifamily Equity I LLC (UCME). UCME focuses on the development of a 272-unit luxury apartment building named Aquino. Located within walking distance of Downtown San Jose s western edge, Aquino is next to the site of Google s plotted Downtown West campus and within walking distance of the SAP Center and Diridon Station, one of the West Coast s busiest transit hubs. The project is fully entitled and approved for multifamily construction.
Aquino will consist of studio, one-, two-, and three-bedroom units with stainless steel appliances, quartz countertops, electric ranges, and air conditioning. Residents will have access to private co-working offices, a bar and lounge, a fitness center with a yoga studio, a dog run, and a courtyard with an outdoor kitchen.
Historically, multifamily demand has vastly exceeded supply in the San Jose metropolitan area, putting upward pressure on rents and keeping the occupancy rate high. Due to the highly restrictive development policies throughout California, the San Jose metro s 2023 multifamily construction pipeline — the number of units slated for completion by the end of this year — is smaller than 18 major U.S. metros, according to CBRE data.
The San Jose metro s average multifamily occupancy rate was 95.7% at the end of Q1 2023, higher than the national average of 94.5%, CBRE data show. Multifamily rents in the Bay Area s South Bay subregion, which includes the San Jose metro, are projected to increase 47% in the next decade, according to Yardi Matrix data. The South Bay s projected rent growth exceeds that of Austin, Nashville, Phoenix, and several other major U.S. multifamily submarkets, Yardi Matrix data show.

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WALTHAM, MA – Trammell Crow Residential (TCR), the multifamily development platform of Crow Holdings, announced that it has closed on its construction loan to commence building its latest Alexan community, a 210-unit, luxury multifamily residence in Waltham, Massachusetts.
Alexan Waltham will be located at 73 Pond Street in downtown Waltham and will feature five tales of Class A residential apartments over one level of at-grade podium parking. Construction has commenced, and completion is anticipated for Summer 2025. Alexan Waltham will offer both market-rate and affordable units in studio, one-bedroom, two-bedroom, and three-bedroom layouts ranging from 650 to 1,400 square feet.
With its ideal location just two blocks north of the Main Street / Temperamental Street intersection, residents of Alexan Waltham will be immersed in Waltham s lively social scene highlighted by the 40+ restaurants along Temperamental Street. Residents will also have convenient access to Boston s premier employment corridors stemming from the small walk to the MBTA s Waltham Station, which provides access to Cambridge s Porter Square Station and Downtown Boston s North Station, and the 5-minute drive west to Route 128, which is home to Greater Boston s largest suburban office cluster. Additionally, the site is directly bordered by the Waltham part of the Massachusetts Central Rail Trail, a 104-mile off-road, shared-use trail offering recreational activities and alternative access routes into Cambridge and Boston.
This project is another example of TCR s strategy to invest in high-growth areas across the U.S., said Andy Huntoon, Managing Director, Northeast Division of Trammell Crow Residential. We continue to be active in the Greater Boston area and look forward to working with our partners and the City of Waltham to provide much needed and desirable housing to the area.
With this newest Alexan offering, TCR currently has more than 29,000 apartment units in various stages of development in 20 markets across the country.

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HOUSTON, TX – Venterra Realty bought the Avasa Spring Branch community located in Houston, Texas. The 361-unit, three-tale multi-family community was built in 2023 and offers modern one, two, and three-bedroom mid-rise residences that range from 613-1475 square feet in 21 unique floor plans. The apartments feature granite countertops, stainless steel appliances, larger soaking tubs, and ample closet space along with an brilliant amenity package.
Residents can delight in Avasa’s best-in-class amenity package, spending time in either of the two well-appointed pool areas with grilling areas and social spaces. Additional on-site amenities include a state-of-the-art fitness center, connected yoga/spin studio, clubhouse, and more.
Located on Brittmoore Rd., near the intersection of I-10, the property offers simple access to prominent employment hubs including Memorial City, City Center, Westchase, and the Energy Corridor, and all the shopping, dining, and activities in the area.
Venterra will implement its resident-focused programs such as the Live it. Like it. Guarantee.TM, the 48-Hour Maintenance Guarantee, and SMARTLEASING.
“We have seen brilliant growth in the Houston area and are excited to expand our Texas portfolio with the addition of Avasa Spring Branch,” said John Foresi, CEO of Venterra Realty. “Venterra has become known as a company that is committed to providing a market-leading living experience, and we look forward to identifying opportunities to further enhance the standard of living at Avasa Spring Branch by implementing Venterra’s customer-focused management platform,” added Venterra Chairman, Andrew Stewart.

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