CHARLOTTE, NC – As homeownership remains out of reach for too many families, Wells Fargo announced an effort to support new home construction, renovation, and repair of more than 350 affordable homes across the U.S. in collaboration with Habitat for Humanity International. Through the Wells Fargo Builds program, the company is providing $7.75 million in grant funding to help local Habitat for Humanity affiliates increase the supply of affordable homes in 200 communities nationwide.
The first Wells Fargo Builds event of 2022 kicked off with a wall-raising ceremony for a new Habitat home for a family of six in the Thomasboro-Hoskins neighborhood of Charlotte, North Carolina. Habitat for Humanity of the Charlotte Region received a $130,000 grant to build the home and to make critical repairs to an older home in the community. Fifteen Wells Fargo employees volunteered alongside the future first-time homeowner, and others will volunteer on various new construction, critical home repair and renovation projects in other communities throughout the year.
The pandemic highlighted in a new way that a quality and affordable place to call home, especially during times of crisis, is critical to the safety and security of families, said Mary Mack, CEO of Consumer and Small Business Banking for Wells Fargo and a Habitat for Humanity International board member. Volunteering with Habitat has always been a huge source of pride for our employees, and we re excited to place on our hard hats to help families start a new journey in their lives as homeowners.
Wells Fargo and the Wells Fargo Foundation have donated more than $119 million to Habitat for Humanity International and local affiliates in support of affordable and sustainable housing since 2010, including support for new home construction and repairs, helping older adults age in their homes, and neighborhood revitalization and disaster response efforts. Wells Fargo also supports Habitat s Cost of Home five-year advocacy campaign through which local Habitat affiliates, partners, volunteers and community members are working together to help 10 million people gain access to an affordable home.
Habitat for Humanity and Wells Fargo have a shared commitment to making a world where everyone has a decent place to live, said Jonathan Reckford, CEO of Habitat for Humanity International. With the support of Wells Fargo this year, we will be able to help even more families achieve strength, stability, and self-reliance through shelter and make stronger and more resilient communities. We are grateful for their continued partnership.

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GARDENA, CA – Cityview, a vertically-integrated multifamily investment management and development firm, officially broke ground on its new multifamily development, South Bay X, with the City of Gardena and Gardena Mayor Tasha Cerda. Bought in partnership with Stockbridge, South Bay X is a fully entitled development opportunity for sustainable multifamily housing in Gardena, CA. Featuring 265 workforce units with a combination of studio, one- and two-bedroom apartments ranging from 510 to 1,197 square feet, South Bay X lies adjacent to a growing number of tech employers including a SpaceX, the Tesla Design Center and Ring, and sits within 5 miles of more than 260,000 jobs.
With so many new employers coming to the South Bay neighborhood, South Bay X is an essential and welcome addition to our community that will ensure continued economic growth for the City of Gardena, said Gardena Mayor Tasha Cerda. We re grateful for Cityview s expertise in sustainable multifamily development and knowledge of the surrounding area as our community grows. We look forward to continued collaboration with this highly experienced team as we bring to life our shared vision of quality sustainable housing in this high-growth, transit-oriented neighborhood.
The groundbreaking event featured public remarks from CEO Sean Burton, Mayor Tasha Cerda, Councilmember Kaskanian and various city department leaders and dignitaries in support of South Bay X for the additional housing and quality jobs it will provide to fortify Gardena s booming economy. It was a celebration of local life in Gardena, as the Gardena High School Band performed for attendees, led by Rekesha Dennis, teacher and auxiliary coordinator, and Scott Suyama, teacher and band director for Gardena High School. South Bay local private chef, Chef Q, fed the community, and Black Flour Crepes indulged the crowd s sweet tooth. Upon groundbreaking, a time capsule was also buried onsite containing the day s issue of the LA Times, the most recent issue of Gardena Valley News, a Gardena High School pom and a Gardena High School drumstick.
With its unique culture and burgeoning job market, the City of Gardena is quickly becoming an epicenter for young professionals in the tech, aerospace, automotive and ecommerce industries, and we are excited to do our part to provide much-needed workforce housing to this vibrant community, said Sean Burton, CEO, Cityview. This community has been incredibly warm and welcoming, and we re honored to be a part of it.
Located at 12850 Crenshaw Boulevard, the transit-oriented development is surrounded by a diverse mix of employers. South Bay X offers convenient access to Interstate 105, is two blocks from the LA Metro Green Line and less than five miles from Los Angeles International Airport (LAX). Residents will also have simple access to a variety of local attractions including Sofi Stadium, beaches and retail and dining venues.
After breaking ground several months ahead of schedule, South Bay X is anticipated to be completed in early 2025. The project is expected to make upwards of 1,000 jobs during its development.

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ROSELAND, NJ – Invesco Real Estate Income Trust, an institutionally managed, public non-listed REIT, announced it bought a majority interest in Everly Roseland, a 384,648 square foot, 360-unit garden-style multifamily community across 30 two-tale buildings, following a partial sale to an affiliate. The property is located at 28 Nob Hill Road in Roseland, New Jersey and it is 95% leased. This acquisition is part of a joint venture with Skylight Real Estate Partners, a regional, privately-held real estate investment firm with a focus on multifamily investment and development.
“With the future of work changing traditional office commutes, we continue to see strong demand for affordable, low-density multifamily properties proximate to the urban core. Additionally, Roseland is a desirable community with honestly high barriers to new development and it aligns with our investment strategy for multifamily,” said R. Scott Dennis, President and Chief Executive Officer for INREIT.
Built in 1980, Everly Roseland is one of the largest multifamily assets in West Essex County submarket. An affiliate of Skylight owned the property in a joint venture since 2017. Through the recapitalization of the asset, Invesco and Skylight will continue executing on the unit renovation program, including upgrades to the common areas and exteriors. Skylight will also serve as the property manager for Everly Roseland.
“Everly Roseland is a well-performing property with a multitude of value creation strategies to unlock,” said Andrew Miller, Founding Partner at Skylight Real Estate Partners. “We started unit renovations and the construction of an amenities center, which has helped to modernize the building. We share the same vision as our partners at Invesco in continuing to transform Everly Roseland back to its premier status.”
This investment expands INREIT’s multifamily portfolio into the Northeastern United States. The transaction also establishes a relationship with new partner, Skylight. This transaction was advised by JLL Capital Markets debt advisory team and financed by U.S. Bank. The JLL Capital Markets debt advisory team was led by Michael Klein, Matthew Pizzolato, John Rose and Gerard Quinn.

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