PORTLAND, OR – WNC & Associates (WNC), a family-owned business known as both a pioneer and leader in the affordable housing industry, and the Portland Housing Authority have announced the redevelopment, rehabilitation and expansion of Riverton Park, a 182-unit affordable housing community in Portland, Maine.
Located at 2 Riverton Drive and approximately four miles northwest of downtown Portland, Riverton Park represents one of the most significant investments in affordable housing in Maine and the region. This project will have significant benefits to the Riverton community and provide greater housing options for a neighborhood close to major employers, retail, transit, and schools.
The $117 million development includes the renovation of 118 existing units and the new construction of a 4-tale building with 64 additional units. Riverton Park targets households earning between 50% and 80% of the Area Median Income (AMI). Notably, 110 units will include project-based rental help, ensuring long-term affordability for residents.
The community will offer a diverse mix of floorplans — ranging from studios to six-bedroom townhomes — designed to accommodate households of all sizes. Each residence will feature energy-efficient appliances and modern interiors, including washer/dryer hookups in townhouse units. The renovation will significantly improve the energy efficiency of existing buildings. New continuous insulation, new windows, new roofs, and air sealing will make homes healthier and more comfortable for families. The new construction building will obtain Passive House certification and feature controlled access and elevator service.
Riverton Park has long been a vital part of Portland s affordable housing landscape, said Anil Advani, Executive Vice President of Originations and Finance at WNC. This project continues that legacy while modernizing the community for today s residents. By combining preservation and new construction, we re meeting urgent demand while enhancing the quality of life for hundreds of families.
Beyond the homes themselves, Riverton Park is being reimagined to foster community, health, and opportunity. In the new building, a health clinic will be built for Greater Portland Health, a local non-profit health care provider. This will quadruple the size of the current health center and enable a significant expansion of basic, affordable healthcare services to be provided to the Riverton community. Other amenities include a community garden, recreation field, after-school educational study center, teen center, activity room, and community kitchen. The entire community will have access to on-site playgrounds, laundry facilities, surveillance cameras, and on-site management.
Riverton Park will be financed through a combination of public and private funding sources. This includes equity from the Low-Income Housing Tax Credit (LIHTC) program, along with construction and permanent financing from Maine State Housing Authority. Additional support includes funding from the City of Portland and Portland Housing Development Corporation. Construction is expected to be completed in late 2027.

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MIAMI, FL – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera Aventura South, a contemporary mixed-use community near premier shopping, dining and entertainment destinations approximately 15 miles north of Downtown Miami.
The high-rise community, which will feature 251 homes and 2,510 square feet of ground-floor retail space, represents the second phase of Modera Aventura, which is projected to start leasing in October. The original phase features 420 homes and 6,400 square feet of retail space. First go-ins at Modera Aventura South are anticipated for fall 2027.
“We’re excited to get started on Phase II of the Modera Aventura master plot, which will benefit from its strategic location near the Brightline commuter rail and Aventura Mall, Florida’s renowned shopping destination and one of the top malls in the country,” said Andrea Rowe, senior managing director of development in South Florida for Mill Creek Residential. “While Modera Aventura South will be smaller than its predecessor, the communities will combine to feature nearly 700 homes and nearly 9,000 square feet of retail space, which we believe will serve as key additions to an area that continues to emerge as a prime living destination. We’re keen to deliver a top-of-market living option in a flourishing neighborhood with thoughtfully plotted areas for new development.”
Situated at 2681 NE 191st Street, Modera Aventura South sits in the emerging Ojus neighborhood of northeast Miami-Dade County and adjacent to Aventura, a master-plotted suburban city with premier shopping and dining destinations. The community is positioned between Biscayne Boulevard and the West Dixie Highway in a former industrial area undergoing a rapid and lively revitalization. The commuter-friendly location is a few blocks south of a Brightline train station and within a small drive of Interstate 95, the gateway to the greater Miami metropolitan area.
Modera Aventura South will offer one-, two- and three-bedroom homes with select den and penthouse layouts. Community amenities will include a sky terrace with city views, sky lounge with game room and wine lounge, elevated rooftop pool deck with resort-style swimming pool, spa with salt room and sauna, clubhouse lounge with hosting-ready kitchen, outdoor kitchen and dining area, grilling area, pet spa, landscaped courtyards and a club-quality fitness center with cardio equipment, TRX system, Peloton bikes, yoga/Pilates studio, group fitness area and kid’s play area. The community will also offer a conference room, coworking spaces, private workstations, controlled-access garage parking with EV-charging stations, bike storage and repair station, dedicated storage area including cold storage and controlled-access guest technology.
Homes will feature up to 10-foot ceilings, wood-style plank flooring, stainless steel appliances, quartz countertops, pull-down faucets, tile backsplashes, kitchen islands with storage, custom cabinetry, built-in desks and shelving, in-home washers and dryers, spacious closets, smart thermostats, keyless entry and private patios or balconies. Select homes will offer breakfast bars and separate dining areas. Bathrooms will feature spa-like soaking tubs, tile shower surrounds and linen closets. The community will be built to, and is pursuing, an NGBS Silver certification.

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LAS VEGAS, NV – CONAM Strategic Investments Fund IV LP, a discretionary fund sponsored by The CONAM Group, announced the buy of Reverb at Spring Valley, a 180-unit multi-family community in Las Vegas, NV. This property adds to CONAM’s portfolio within the Las Vegas market and is the latest acquisition in Fund IV.
Completed in 2000, Reverb at Spring Valley features two-tale garden style buildings with large floor plans and majority two-bedroom floor plans. The community amenities include a clubhouse with a coffee bar, game room, fitness center, and a pool deck with assorted outdoor games, fire pits, and barbeques for residents.
“CONAM, which has long loved a robust presence in the Las Vegas market, has been focused on expanding its presence seeking quality, well located assets at an attractive cost basis. We are pleased with the addition of Reverb at Spring Valley to our portfolio as it complements our fund investment strategy and holdings throughout the Las Vegas market,” says Zach Markell, CONAM’s Western US Acquisitions Director. “Reverb at Spring Valley will continue to flourish in the dynamic Summerlin/Spring Valley market with its robust population growth, strong lifestyle amenities, and diversifying economy.”
Reverb at Spring Valley is located along the Las Vegas Beltway at the nexus of Summerlin and Spring Valley, which provides residents with simple access to major employers in Southwest Las Vegas and on the Las Vegas Strip. Nearby, residents can access major retailers such as Target and Albertsons, a multitude of dining options, the Las Vegas Athletic Club, and the dynamic retail and lifestyle amenities in Downtown Summerlin and The Curve.
CONAM continues to evaluate opportunities that align with our investment strategy in Fund IV. We are active buyers within the market and are excited to continue to grow the portfolio nationally.

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