DENVER, CO – Mortenson, a top-20 U.S. builder, developer, and engineering services provider with four decades of experience in Colorado, alongside joint venture partner Pinnacle Partners, celebrated the groundbreaking of Revival on Platte in Denver’s Sun Valley neighborhood, a first-of-its-kind multifamily project that will showcase the full breadth of Mortenson’s develop, design, fabricate and build capabilities.
“We’re thrilled to partner with the Pinnacle team on this incredible opportunity, as both organizations share a commitment to development that addresses core community needs,” said Brian Fitzpatrick, Vice President and General Manager of Mortenson Denver. “We have a long history in Denver of bringing together our develop, design and build capabilities for our project partners. Fabrication is the final piece in this puzzle, and we can’t wait to show the market what our BLUVera team is capable of on this project.”
The project, Revival on Platte, is situated on a .9-acre building site in a designated Opportunity Zone adjacent to the South Platte River. The new 234,156 SF development will feature 200 studio, one- and two-bedroom apartment options across eight tales with two levels of parking. Residents will also have access to an on-site gym, business center and a rooftop amenity deck offering city and mountain views. The entire structure will be built with Mortenson’s cold-formed metal stud, steel-framed structural system with prefabricated interior and exterior walls.
“In these current challenging economic times, we are particularly excited to close on our construction financing and break ground on Revival on Platte with our development partner. This transformative development will bring much-needed housing to Denver’s rapidly growing Sun Valley neighborhood,” said Leo Backer, Managing Partner from Pinnacle Partners. “Revival on Platte serves as a bright example of the potential impact of Opportunity Zones on communities across the country.”
Close to downtown attractions – including universities at the Auraria campus, Meow Wolf and Empower Field – the new multifamily development is additionally near public transit systems and offers direct access to roughly 90 miles of bike trails. Residents will also have access to eight electric cars via a third-party app, further expanding transit options.
“We’re always looking for ways to optimize processes for our clients and for our own development team,” said Taber Sweet, Vice president of Real Estate Development at Mortenson Denver. “This level of vertical integration represents the full manifestation of that goal. The location of this project is also incredible, as it’s adjacent to Denver’s Stadium District Master Plot, and aligns well with the comprehensive development strategy for the Sun Valley community.”

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IRVINE, CA – WNC, a leading provider of investment, asset management and development services in the affordable housing industry, announced it has closed WNC Institutional Tax Credit Fund 54, L.P. (Corp 54), a low-income housing tax credit (LIHTC) fund totaling $172.8 million in equity from a total of eight institutional investors. WNC Fund 54 welcomed one new investor and six new development partners.
“WNC has worked tirelessly for the past five decades to provide residents in need with safe, high quality and affordable housing,” said WNC Executive Vice President of Investor Relations Christine Cormier. “We’re pleased to announce the closing of this fund despite current unrest in the banking industry, raising significant equity that we can use to help address the growing affordable housing crisis throughout the country.”
Equity raised by the fund will be used to construct and renovate 1,331 affordable housing units across 14 properties in Arkansas, Georgia, Idaho, Indiana, Massachusetts Michigan, Minnesota, Nebraska, New York, Ohio, South Dakota, Tennessee and Texas. Some of the funds’ units are set aside for special populations, including veterans, homeless or at risk of homelessness, Native Americans/tribal projects and extremely low-income households.
Among the projects within the fund is Patriot Park, a 60-unit affordable housing development in Fayetteville, Arkansas that is exclusively for veterans experiencing homelessness, low-income veterans and veterans with disabilities, as well as their families. Thirteen of the 60 units are set aside for veterans with incomes of up to 30% of the region’s annual median income. The University of Arkansas for Medical Sciences (UAMS) Northwest hospital campus and a U.S. Department of Veteran Affairs office are located within one-half mile of Patriot Park. The Veterans Health Care System of the Ozarks is easily accessible via Interstate 49. Service providers will provide direct aid and care for Patriot Park residents via visits to the community.
Other notable projects within the fund are Canvas Apartments and New Point Family Apartments. Canvas Apartments is located within the Minneapolis Arts District and will include 23,184 square feet of production and commercial space on the ground floor. The community is located within Minneapolis’ Industrial Living Overlay District, which was established to encourage the rehabilitation and reuse of existing industrial structures and to provide for limited residential and retail uses where such uses are compatible with other uses in the area.
New Point Family Apartments is a historic rehabilitation project for 18 family units in Salem, Massachusetts, for households experiencing or at risk of experiencing long-term homelessness. All units will be reserved for households with incomes at or below 30%, 50% and 60% of the area median income. The project will provide for the renovation of three buildings built in 1915 and 1920 within Salem’s historic The Point neighborhood. Historical elements of the buildings that will be preserved during the plotted renovations include interior trim woodwork, replacement of windows and deck railings with aesthetically comparable products and recessing the brick infill that will replace the basement windows.
The properties in WNC Fund 54 will make approximately 1,700 jobs and the aggregate economic impact is expected to generate more than $190 million in local income tax and other government revenue.

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PORTLAND, OR – Global real estate firm Lincoln Property Company celebrated the Grand Opening of The Sutton, a high-end waterfront apartment complex in Portland s North Pearl District with neighbors, local officials, and business leaders. Leasing activity is off to a robust start at the gorgeous new 236-unit complex.
The Sutton received the Commercial Association of Brokers Multifamily Development of the Year award for its high-quality design and features, expansive views of the city, the Willamette River, and the Fremont Bridge, and proximity to the Pearl District—a vibrant neighborhood experiencing one of the highest rates of growth of any Portland area, nearly doubling in size in the past decade.
The Sutton is a 17-tale residential tower located on the Willamette River in the North Pearl neighborhood. The building s front yard is on the Greenway Trail—which provides public access to the river and Portland s iconic trail system. As part of the project, Lincoln widened the Greenway Trail between the property and the river, giving pedestrians, cyclists, and skaters more space to delight in, and agreed to help maintain and improve this section of the trail with new landscaping and site work. The Sutton also features space for a ground-floor restaurant with indoor/outdoor seating along the waterfront that will bring the community together.
As part of the opening ceremony, Patrick Gilligan, Executive Vice President with Lincoln, and Nick Gonzalves, Director with Bridge Investment Group, marked the property s official opening with a formal ribbon cutting. Andrew Hoan, President and CEO of the Portland Business Alliance, presented The Sutton with an official Proclamation. Many toured the property and explored the amenities, including hotel-quality guest suites that can be reserved for out-of-town visitors, a game room, multiple lounges, a coffee bar, a gourmet community kitchen, a pet spa, a bike storage and repair center, and a landscaped rooftop terrace with spectacular views of the Willamette River and Fremont Bridge.
The Sutton was a complex, multi-year development that required significant community engagement, collaboration, and support. This was a long time coming, said Gilligan. Despite a turbulent economy, COVID-19, and multiple rounds of revisions to secure approval—The Sutton team kept going. We are passionate about this project and so excited to see it finally coming to fruition.
Lincoln and The Sutton team are also excited to have been selected as the Multifamily Development of the Year by the Commercial Association of Brokers (CAB) in Oregon and Southwest Washington at their annual Night of Excellence in Commercial Real Estate ceremony earlier this year. The CAB awards gala was held on March 9, 2023, at the Portland Art Museum, where winning projects in various categories were honored.
Lincoln developed The Sutton with investor partner Bridge Investment Group. TVA, a Portland-based architecture and design firm, served as the lead Architect, with Andersen Construction as the General Contractor. Luxury lifestyle brand, Ink + Oro, handled the furnishings, while Portland s Carol Williamson + Associates oversaw the interior design.

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