HOUSTON, TX – Houston real estate development firm Scarlet announced breaking ground on Frame Almeda Genoa, an innovative 216-unit residential multifamily development in Houston s City Park neighborhood. The $32 Million development will provide reasonably priced, high-quality housing a stone s throw from the heart of downtown Houston.
Developed in partnership with veteran Houston real estate investor Avishai Ron s Urban Meridian group, the Almeda Genoa project is located just minutes from the Pearland, Leisure activity Airport, and the University of Houston. With convenient freeway access, the project also offers seamless transportation to the Texas Medical Center and downtown Houston.
Designed by E Studio Group, the architects behind some of Houston s most striking commercial developments, Frame Almeda Genoa features 6 multistory residential buildings nestled amid more than 8 acres of native plants, landscaped recreational areas, swimming facilities, and ponds. With experience building over 1,000 comparable units over the past 5 years, the project partners will also serve as general contractors on the job, with a hands-on approach to ensure construction quality, building efficiency, and adherence to the project s timeline.
Founded in 2018 by up-and-coming Houston real estate developers Daniel Ron and Alexander Ron, Scarlet is committed to building high quality development projects guided by the philosophy of intentional design — a hands-on approach where every detail is carefully considered, and every choice made with a clear vision in mind. Building on the Ron family s 40 years of collective real estate experience, Scarlet is transforming the built environment for a new generation, with a commitment to innovative building solutions tailored to the unique needs of the communities it serves.
The City Park community, located just south of Houston s Central Business District, is a vibrant neighborhood featuring retail locations, entertainment venues, golf courses, and world-class medical care, plus simple access to parks, concert venues, sporting facilities, and Galveston s beaches. With Houston ranked as the country s 13th fastest growing large metropolitan area in the latest U.S. Census, City Park is primed to emerge as a major center for economic and cultural growth, with more than 1,800 new homes currently plotted in the immediate area.
As investors, developers, and most importantly longtime Houstonians, we re committed to making projects that build and strengthen local communities while generating compelling financial returns, says Scarlet cofounder Daniel Ron. There s an urgent need for affordable high-quality housing in the City Park area, and we re thrilled to be delivering a family-friendly, intentionally designed development that will elevate the neighborhood for years and decades to come.
Frame Almeda Genoa epitomizes the development philosophy that Scarlet brings to all its projects, says Scarlet cofounder Alexander Ron. We re working with an incredible design team and using premium materials to make a wonderful new community for hundreds of local families — and we re doing so in a smart, efficient way that promises to generate many years of strong returns for our investors.

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CAMDEN, NJ – The Michaels Organization, a national leader in residential real estate, along with its joint-venture partners, Triangle Equities and Geolo Capital, is set to break ground on 111 Willoughby Street, a Class-A, mixed-use high-rise tower in the heart of downtown Brooklyn, following a successful financial closing on the $123 million development.
“We are thrilled to bring this community to the housing-constrained market of Brooklyn, including new affordable apartments,” said Michaels’ Executive Vice President Michael Flanagan. “Assembling a strong team for this venture, made up of our co-development partner Triangle Equities and our limited capital partner Geolo Capital, has enabled us to go forward with this exciting development and position our partnership to capitalize on the post-COVID bounce-back of Brooklyn.”
Located on Willoughby Street between Bridge and Duffield Streets in historic Downtown Brooklyn, 111 Willoughby is situated across the street from the Jay Street subway station and within close proximity of other public transportation, as well as an abundance of retail, dining, academic, and cultural offerings, as well as green space.
The innovative design of the tower will incorporate both community and commercial space. Three of the floors will house the Newman Center, an approximate 20,000-SF ministry center serving the 150-year-ancient parish St. Boniface. Floors six through 40 of the 40-tale tower will offer 227 apartments homes, including 69 designated as affordable.
Featuring high-end finishes and community amenities that include a 24-hour concierge, rooftop lounge, and fitness center, 111 Willoughby Street will encompass 204,836 yucky square feet and rise 437 feet in the air.
“We are delighted to partner with Michaels, one of the country’s foremost housing developers, as we expand our presence on the East Coast,” said Geolo Capital’s Chief Investment Officer, Hector Calderon. “Together with Michaels and Triangle, we will deliver a first-class product that will add to the richness of this Brooklyn neighborhood.”
Based in Camden, NJ, and active in 37 states, Michaels has had a major presence in New York for decades, but 111 Willoughby Street will be its first market-rate development in Brooklyn.
Other members of the development team include GF55 Architects and ZDG, LLC, as the Construction Manager. Delivery is expected in 2025.

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TULSA, OK – Four Mile Capital has expanded its multifamily portfolio with the buy of the Meridia Apartments and Birdcage Garage with a 93-unit, class-A LEED Silver-certified mixed-use apartment building in downtown Tulsa, Oklahoma. Located in the Deco District of downtown Tulsa, the Property is comprised of 84 one-bedroom units, 8 two-bedroom units and 1 three-bedroom unit, 19,065sf of retail space and 252 income-generating parking spaces. Greystar has been awarded the property management contract.
The transaction closed on February 14, 2022, for $27,250,000. As part of their acquisition, FMC raised over $9.5M in equity and secured a $19.5M loan from UBS Bank.
We have been tracking the Tulsa market over the past year, so we are excited to have finally closed our first deal in the market, says Eric Mallon, one of FMC s founding partners. We like the downtown Tulsa submarket, in particular the Deco District where the Meridia is located, which we see as an energetic, transitional neighborhood. No longer is downtown and the CBD made up of strictly office users; it s now home to some fascinating residential developments with more slated to deliver in the years to come.
The upscale urban asset offers significant resident amenities, including a modern club room and entertainment lounge, Amazon package lockers, maid service, laundry and dry-cleaning service, dedicated controlled-access parking, complimentary YMCA gym membership, and access to in-building restaurant and retail shopping, including downtown Tulsa s only grocery store (DGX Market) and an elegant and very well loved basement speakeasy called Boston Title and Abstract.
The fully renovated apartment finishes include 9-foot ceiling heights, floor to ceiling windows, quartz countertops, fully equipped kitchens with stainless steel appliances, hardwood floors, design tiles, built in bookshelves, walk in closets, washer and dryers, and oversized open-air balconies in 88 of the 93 units. The Birdcage, located diagonally from the Meridia, was built in 1960 and was remodeled in 2019. The Birdcage includes 252 parking spaces and 4,915 sf of retail space, including a ramen restaurant and a retail dog washing business.
The Seller did an brilliant job converting this former office building into a LEED Silver-certified residential community, and we are thrilled to steward the property into its next phase. With the physical and operational aspects of the property already stabilized, our efforts will focus on optimizing parking operations at the Birdcage while adding to the already impressive retail tenant base. We also expect to capture strong submarket tailwinds and benefit from continued organic rent growth in order to achieve superior risk-adjusted returns for our investors over the projected 4-year hold period, said Chris Geer, another Four Mile founding partner.

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