CHICAGO, IL – Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, announced the acquisition of Drexel Court & Lake Park East, a site project consisting of four multi-family buildings in Chicago’s Bronzeville neighborhood: 4420 S. Drexel Blvd, 4700 S. Drexel Blvd., 4530 S Drexel Blvd and 4725 S. Ingleside Ave.
The acquisition marks HVPG’s entrance into the Chicago market as part of a larger expansion to the Midwest beyond its footprint across the East Coast. The deal presents an opportunity for HVPG to improve and preserve 155 units of affordable housing while furthering its goal of uplifting and revitalizing communities through HVPG’s investments in high-quality, sustainable neighborhood assets.
“As a firm committed to ‘doing well by doing excellent’ across the nation, we are thrilled to expand our mission to the Midwest region,” said Jason Bordainick, co-founder and managing partner of Hudson Valley Property Group. “We look forward to working closely with the City of Chicago, HUD and the IHDA to bolster the city’s supply of quality, affordable housing in a time of increased demand.”
HVPG is plotting an approximately $13.1M renovation at the Drexel Court & Lake Park East that will prioritize building modernization, high-end security, energy efficient upgrades and resident quality of life improvements with new common spaces including an outdoor picnic area and business center. To ensure long-term affordability for its residents, HVPG secured a new 20-year term HAP contract with U.S. Housing and Urban Development (HUD) as well as a new 30-year LIHTC regulatory agreement.
The project will be financed with equity from Hudson Valley Property Group’s latest fund, as well as 4% low-income housing tax credits and tax-exempt bonds through the Illinois Housing Development Authority (IHDA).

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ORLANDO, FL – Mission Rock Residential, a Denver-based national property management company, has recently bought a new management deal for the Regatta at Universal Apartment Homes. Mission Rock Residential was selected by the property’s new owners, an affiliate of Treeline Real Estate Partners LLC, to manage the 310-unit apartment home community.
Regatta at Universal is located near Universal Studios, southwest of the Orlando metro area. In addition to being conveniently located near Orlando’s most well loved attractions, these pet-friendly, one- and two-bedroom apartment homes feature a home-like retreat feel with wood-style flooring, granite countertops, relaxing garden tubs, and private patios.
“We have truly loved our growing relationship with Treeline Real Estate Partners, and we are excited to bring this proven partnership to the residents of the Regatta at Universal community,” said Meredith Wright, President of Mission Rock Residential.
The greenery-filled, gated community features a resort-inspired pool with an outdoor lounge, making an atmosphere perfectly suited to the Florida environment. The apartment community offers detached garages, extra storage spaces, and guest suite rentals. Residents at the community also benefit from expanded lifestyle amenities like a game room, a coffee bar, and a 24-hour fitness center with a separate yoga room.
Orlando is known for its amusement parks, as it’s home to Disney World, Universal Studios, Sea World, and many more attractions. It’s also home to many corporations, which brings Orlando to the number two city in the country for job growth. Largely a town of renters, over 65% of the population currently living in the city occupy a rented space. These numbers are predicted to continuously increase, as Orlando’s population has increased by 25% in recent years, making it one of the top 5 fastest-growing cities in the country.

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PHILADELPHIA, PA – Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation s leading builder of luxury homes, along with joint venture partner Sundance Bay, and general contractor Clemens Construction Company, have topped out Broad & Noble, a new 18-tale, 344-unit luxury mixed-use apartment community in Philadelphia, Pennsylvania.
Toll Brothers Apartment Living recently hosted a topping-out celebration at the property for its development partners, construction workers, and local officials. Broad & Noble s construction started in July 2021 and initial occupancy is anticipated in summer 2023. The project is being financed through a $100.2 million construction loan facility from Wells Fargo. The debt and equity were arranged by Toll Brothers in-house Finance Department. Toll Brothers Apartment Living will manage the development, marketing, and property management.
Toll Brothers Apartment Living is thrilled to develop Broad & Noble, our first luxury apartment community in Philadelphia, said Charles Elliott, President of Toll Brothers Apartment Living. We have developed for-sale residential communities here for decades, but Broad & Noble will be our first high-rise apartment community in the heart of the region where Toll Brothers was founded 55 years ago.
Designed by Barton Partners, a Philadelphia-based integrated design firm, Broad & Noble will offer a mix of studio, one-, and two-bedroom floor plans, and 44 penthouses ranging from studios to two bedrooms. The property features an underground access-controlled parking garage with 106 parking spaces, including EV (electric vehicle) charging stations, and bike storage.
Residences at Broad & Noble will feature high-end luxury finishes and more than 13,000 square feet of best-in-class indoor amenities, including a package concierge, a state-of-the-art fitness center, music, media, and podcasting rooms, a conservatory and private dining rooms, a yoga and cycling studio with video classes, a pet spa, a private storage area, a sky lounge with outdoor deck area and views of the Philadelphia skyline, and a landscaped plaza adjacent to 10,440 square feet of ground-floor retail space.
We are excited to partner with Sundance Bay and Wells Fargo on this landmark project for our company, said Bryan Oos, the Northeast Regional Director of Development and Acquisitions for Toll Brothers Apartment Living. We are also proud that Broad & Noble will introduce the elevated resident living experience we are known for nationwide to this energetic and evolving neighborhood.
Sundance Bay is looking forward to delivering this project to meet the needs of this rapidly growing and vibrant community, said Ryan Baughman, Partner and Senior Managing Director of Sundance Bay. We are grateful to be involved with such high-quality partners and have full confidence in Toll Brothers managing the project through successful completion.
Located at 435 N. Broad Street in the Loft District of the eclectic Callowhill neighborhood, Broad & Noble is situated on a one-acre site in the heart of the North Philadelphia submarket. Just a 10-minute walk to Philadelphia s City Hall and the Center City financial corridor, Broad & Noble is located only a few blocks from Spring Garden Station and the entrance of Philadelphia s Rail Park. With a WalkScore of 95 and a TransitScore of 100, Broad & Noble residents will delight in convenient access to several award-winning restaurants and breweries, specialty grocers Whole Foods and Trader Joe s, upscale retail on Walnut and Chestnut Streets, and cultural arts destinations such as The Met Philadelphia. Located in an Opportunity Zone, Broad & Noble is one of several projects Toll Brothers Apartment Living is developing in Opportunity Zones nationwide.
In addition to its luxury apartment residences coming to Broad & Noble, Toll Brothers Apartment Living s Parc community is in nearby Plymouth Meeting. The community offers one- and two-bedroom apartments and features an 11,000 square foot clubhouse, luxurious amenities, and simple access to Interstate 476, Interstate 276, and Philadelphia. Toll Brothers Apartment Living is headquartered in nearby Fort Washington, Pennsylvania.

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