HOUSTON, TX – Olive Tree Affordable Housing, an affiliate of Olive Tree Holdings, a real estate investment firm focusing on value-add multifamily projects in dynamically growing markets across the United States, unveiled its $7.8 million modernization plot at The Life at Westpark, a 312-unit affordable multifamily complex in Houston, Texas. Property improvements are currently underway, with final completion slated for Q1 of 2023.
The interior upgrades, which consist of comprehensive improvements to 188 of Westpark s residences, 78 of which are designated Honest Housing Accessibility (FHA) units, include new flooring, cabinets, countertops and vanity tops, new sinks and service lines for both the kitchen and bathrooms, upgraded appliances and two-tone painted walls, with select units receiving new water heaters and HVAC systems. 30 residence upgrades have been completed to date, with an additional 52 currently in progress. Exterior upgrades completed to date include full roof replacements throughout, and the addition of exterior gate water valves.
When we bought the Life at Westpark in 2019, preserving the property s affordable longevity as well as ensuring that Houston-area residents continue to have access to high-quality and safe affordable housing options was of paramount importance, said Ian Bel, Managing Principal and Chief Executive Officer of Olive Tree Holdings. As a mission driven organization, our team engages with community leaders to ensure that the needs of current and potential tenants are heard and implemented. We re thrilled to share our capital improvement plans with the local community and look forward to celebrating final completion with our residents early next year.
Remaining rehabilitation efforts at The Life at Westpark include the completion of the interior residence upgrades, the installation of new windows and sidewalks throughout the complex, the addition of new accessible parking offerings, building siding and wood repairs and the creation of a refurbished leasing office.
Built in 1994 and bought by Olive Tree Holdings in 2019, The Life at Westpark is an amenity-rich, pet-friendly community comprised of two-, three- four- and five-bedroom apartment homes reserved for those earning up to 60 percent of the area median income (AMI). In 2022, Olive Tree Holdings bought a Housing and Urban Development (HUD) insured mortgage to undergo substantial capital improvements to preserve Westpark s affordability status, which was previously set to expire in 2025 and will now be extended for an additional 75 years.
To date, Olive Tree Affordable Housing manages more than 4,000 affordable units nationwide, including preserving the affordability of 865 units within the Houston-metro area, totaling $125 million in development costs.

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ORLANDO, FL – Middleburg Communities, a fully integrated multifamily development, investment, construction and management company operating in the southeastern and mid-Atlantic United States, announced the start of construction on Mosby Citrus Ridge, a Class A multifamily community located in Davenport, Florida, less than one hour from Orlando and Tampa. The project is being developed by a joint venture between Middleburg as development manager and Parse Capital, a subsidiary of The Wolff Company, as an investment partner.
Mosby Citrus Ridge is strategically located at 100 Orlando Breeze Circle along Highway 27 and Interstate 4. The community is less than one hour s drive from many of the major economic drivers in Orlando and Tampa, including the corporate headquarters of numerous Fortune 500 companies, amusement parks, sporting arenas, world-class dining and entertainment and award-winning beaches. Middleburg leveraged its proprietary data and analytics platform to select the development site and identify its value potential.
We are excited to further strengthen our footprint in the Orlando MSA, one of the fastest growing markets in the country, said Chris Finlay, CEO of Middleburg Communities. As a result of this growth, there is a significant need for the type of high-quality, attainable multifamily units we are developing at Mosby Citrus Ridge, especially along the heavily traveled I-4 corridor between Orlando and Tampa. Our vertical integration will help us maximize efficiencies and minimize disruptions throughout the construction process, enabling us to bring these units to market more quickly and manage them effectively so we can start delivering returns for our investors and an exceptional living environment for local residents.
Mosby Citrus Ridge will consist of five, 4-tale luxury residential buildings, and will feature many resort-style amenities including, high-end interiors with luxe finishes, state-of-the-art technology throughout the community, a saltwater pool, a fully-equipped fitness center, outdoor pavilions with fire pits and grilling stations, a yoga lawn and more. The 300-unit lifestyle-oriented, attainable housing community will offer a variety of 1-, 2- and 3-bedroom floor plans, with monthly rents starting at less than $2,000. Construction on the multi-million dollar project is expected to be completed by May 2024.

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MINNEAPOLIS, MN – Norhart broke ground on Impact, their new 7-tale, 328-unit apartment building. The modern apartment complex, which will be the tallest building in the city of Oakdale, includes a wide assortment of studio, one-, two-, and three-bedroom floorplans, plus four luxurious two-tale penthouse residences on the top level overlooking the gorgeous Minneapolis – St. Paul skyline.
In addition to Impact’s modern apartment units, the new building will feature a vast collection of amenities both inside and out, including an extensive rooftop pool, private movie theatre, free game room, state-of-the-art fitness center, multiple yoga spaces, a relaxing and calming spa room, large community center, third-floor outdoor courtyard, and more.
“We want to reimagine the multi-home industry with a focus on world-class design, customer experience, and making apartments of the future that people like. We are focused on innovating and disrupting our industry,” said Mike Kaeding, CEO of Norhart. “That long-term vision starts today with Impact apartments in Oakdale, MN!”
Norhart’s Impact apartments will also feature over 6,500 square feet of retail space on the main level, providing a coffee shop and full restaurant to the area. Nearby, residents can delight in the Tamarack Village Shopping Center, Xcel Energy Center, countless restaurants, Lake Elmo Park Reserve, and the St. Croix River.
With the convenient location off 694 and proximity to downtown Minneapolis and St. Paul, Norhart’s Impact apartments will offer simple access to anywhere in the twin cities. The new METRO Gold Line transit system’s Helmo Avenue stop will also be conveniently available to residents. The Gold Line will be Minnesota’s first dedicated Bus Rapid Transit system, connecting St. Paul, Maplewood, Landfall, Oakdale, and Woodbury along I-94.

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