HOUSTON, TX – Greystar, a global leader in the investment, development, and management of high-quality rental housing properties, announced that The Oliver, an art-inspired community, is now pre-leasing.
The Oliver, which is named after the creator of the grain elevator Oliver Evans, is the only podium project in the market and is in the heart of the Sawyer Yards neighborhood, which is home to the largest concentration of artists in Texas – nearly 5,000 artists work within a quarter mile of the community in ancient grain silos and warehouses that have been repurposed for studio space.
“We are extremely excited about the neighborhood, Sawyer Yards, for this incredible project,” Ned Dodington, Director of Development, said. “Thoughtfully designed, with smart home technology in each apartment and fantastic community amenities, like the Horizon Skyline Lounge and The Kiln Outdoor Kitchen & Grill, The Oliver makes an environment based on a curated art gallery, which includes the community’s podium style design that provides a more-refined experience with higher views and an overall more attractive building. It translates fine art and art collection into a residential experience in a prime location.”
The Office of Michael Hsu —Texas’ foremost architecture and interiors group—designed The Oliver’s interior with a style that blends clean lines and the industrial history of the neighborhood with a color and materials palette of contemporary art. The community features a refined and invigorating atmosphere, amid 2- and 3-dimensional art collections curated by Capital Integrated Art from Sawyer Yards artists.
Individual apartment homes are available in studio, one- and two-bedroom floorplans with some micro units available. Many of the units will feature floor-to-ceiling glass windows. The Oliver also works with owners of local businesses to secure resident-only perks and discounts – for example, various local breweries welcome new residents’ home with a round of beers in their family-friendly taprooms.
The fitness room, club room and pool deck will have uninterrupted views of Houston’s downtown sky lounge and feature best-in-class equipment.
The neighborhood is walkable, packed with nightlife amenities and is becoming the new center focus point for Houston. The community is well positioned with simple access to employment being just 3 minutes from downtown and 15 minutes from the energy corridor.

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CHICAGO, IL – Interfaith Housing Development Corporation (IHDC) announced the groundbreaking of the Conservatory Apartments. Situated just north of the landmark Garfield Park Conservatory in Chicago, the Conservatory Apartments will serve two populations that in need of permanent, supportive housing with forty-three new, affordable units which are targeting goals that, when achieved, would set a new standard for affordable housing.
IHDC is poised to demonstrate that the Passive House Certification for large, affordable, multi-family housing projects is within reach in a Midwestern climate. “IHDC is committed to providing the healthiest and safest affordable living environments possible, that’s why we continue to push for programs that advance human and environmental health through sustainable design,” says Perry Vietti, President of Interfaith Housing.
Conservatory Apartments was designed by national architecture and engineering firm HED, who has worked with IHDC before on affordable housing developments with aggressive sustainability goals. “IHDC’s goals for this project are twofold,” says Susan King, FAIA, LEED AP BD+C, LFA, Sector Leader with HED and Principal in Charge of the Conservatory Apartments design team, “First, the building is being designed to meet Passive House Standards and achieve Passive House certification through the Passive House Institute of the United States (PHIUS), which is a next-generation passive house standard that combines thorough design verification protocol with a stringent QA/QC program to deliver better buildings. Secondly, the project has been selected to be a participant in the Living Building Challenge (LBC) Pilot Program for affordable housing.” As a pilot participant in the LBC Pilot Program the design team was able to participate in a biophilic design workshop which then informed the interior design. The design team utilized the simulation of natural forms throughout the interior via specified light fixtures and patterned glass. The incorporation of a low maintenance moss wall in the building lobby is both a way of bringing nature inside as well as a nod to the namesake conservatory a block away. Through a biophilic design approach, the Conservatory Apartments will tell a tale about nature that will tie it to its place and time.
Once successfully constructed, Conservatory will be the largest multi-family building in Chicago to meet this PHIUS standard. This is significant because it will demonstrate that achieving these goals is not only attainable at a practical scale, but in a region with a demanding four seasons climate. This sends a strong message about not just the possibility but necessity for affordable housing to prioritize resident and environmental health through innovative design. To date, the only other Passive House Certified affordable housing project in Chicago holds six units, compared to Conservatory’s forty-three. To meet these goals, Conservatory will be equipped with a variety of energy saving and efficient features, including complying with the ComEd energy efficient guidelines, 14 kw photovoltaic systems (solar panels), energy saving appliances and lighting, and through the specification of water saving plumbing fixtures, indoor water use will be reduced by 25%. Conservatory will also be transit-oriented, placed on a site less than 1,500 ft from the Conservatory green line stop. The project will be constructed by the locally-based Henry Bros Co.
Of the Conservatory’s forty-three new units, thirty-four will target individuals who are chronically homeless and who have a disability, and nine are set aside for persons from the Illinois State Referral Network (SRN). To provide these populations with supportive programming in addition to housing, IHDC is partnering with Deborah’s Place, a nonprofit provider of housing and services to persons who have experienced homelessness, and Trilogy Behavioral Health, a comprehensive integrated care agency that enables people in mental health recovery to build meaningful and independent lives.
“Deborah’s Place and Trilogy will provide services and care to the formerly homeless residents that will reside in Conservatory’s forty-three units,” says Vietti, “Our mission is to make high-quality, financially and environmentally sustainable, affordable housing for low-income individuals and families that provide a safe, healthy and thriving environment with supportive services as a foundational strategy. Conservatory is an brilliant example of that mission taking form in Chicago.”
Residents will benefit from the partnership of service providers as has been demonstrated in other projects. Susan Doig, Interim Chief Executive Officer at Trilogy says, “We are so excited to partner again with IHDC. Conservatory will allow us to serve more people with disabilities moving out of long-term care into independent apartments and people who have lived experience with homelessness will be housed in their own apartment. We have found that collaboration is what makes these projects successful, and we are honored to be a part of this innovative team.”

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FAIRFAX, VA – The Milestone Group has announced its acquisition of a three-property, value-add, multifamily portfolio totaling 870 units in Fairfax County, Virginia, executing an off-market acquisition through a loan assumption that saved significant prepayment costs. The buy price was not told.
“The properties in this portfolio are well-located and of institutional quality, providing Milestone with a strong mark-to-market opportunity to improve performance through strategic capital enhancements and a sophisticated operating platform,” said Milestone Vice President for Acquisitions, Jason Wise. “These communities reflect Milestone’s continued interest in acquiring assets in resilient, high barrier-to-entry markets, close to major employment centers, fantastic schools, and abundant amenities. We look forward to executing our business plot and modernizing the assets to improve their position in the market.”
The Acquisition Included:
The Ellipse at Fairfax Corner in Fairfax, VA features one and two-bedroom apartments conveniently located near the amenity-rich Fairfax Corner and Honest Oaks Mall destination retail centers. The property is minutes from I-66, Route 50, and Route 28, providing exceptional access to job destinations in Fairfax, the Dulles Corridor, Tysons, and Washington, D.C. Residents delight in spacious apartments with fireplaces, a fitness center, pool, business center, and tennis courts in a mature, wooded setting.
Windsor at Honest Lakes in Chantilly, VA provides one, two, and three-bedroom floor plans in luxury apartments within walking distance to Whole Foods and minutes to Fairfax Corner and Reston Town Center amenities. A resort-style pool, state-of-the-art fitness facility, dog park, and convenient access to the WO&D bike trail provide residents with exceptional outdoor activity options while living close to key transportation routes.
The Townes at Herndon Center near historic downtown Herndon, VA features two and three-bedroom open floorplan townhome apartments in a walkable setting convenient to grocers Whole Foods, Trader Joes, and Harris Teeter, and minutes from destination retail at Reston Town Center. The community features a pool and fitness center as well as one and two-car attached garages for each unit.
Milestone bought the portfolio in its discretionary value-add fund, Milestone Real Estate Investors V, LP (Fund V), bringing Fund V to nearly 6,000 multifamily units and Milestone to 10,000 multifamily units across the United States. Fund V seeks to make growth for investors by capitalizing on risk-adjusted, value-oriented opportunities through direct buys, entity buys, joint ventures, and recapitalizations. Milestone has a reputation for specifically solving for a seller’s strategic or structural requirements.
“We focus on creative deal structures to generate win-win solutions with sellers. In this case, we were able to save over $20M in prepayment costs by assuming the existing financing,” said Chris Bartlett, Milestone’s Head of Capital Markets. “Although loan assumptions can be an arduous process, a significant number of our investments during the last five years have been through loan assumptions, which we believe differentiates us when working with sellers as we are able to efficiently work through the process while saving substantial prepayment penalties.”

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