DURHAM, NC – National multifamily developer Wood Partners announced the official groundbreaking of Alta Bethpage in Durham, North Carolina. The 336-unit multifamily community is part of the company’s attainable housing initiative offering upscale living at cost-effective rates. Alta Bethpage broke ground this week and Wood Partners is slated to deliver the community in the first quarter of 2027.
Alta Bethpage is ideally positioned between Research Triangle Park and Brier Creek, two of the region’s largest employment and retail hubs. Additionally, with immediate access to I-40 and I-540, Alta Bethpage provides unparalleled connection to the greater Triangle region.
“Alta Bethpage places residents at the center of convenience and opportunity in one of the fastest-growing cities in North Carolina,” said Caitlin Shelby, Managing Director with Wood Partners. “We’re looking forward to contributing to the region’s growth by providing high-quality, attainable housing options that further address the housing needs of the area.”
The 336-unit multifamily community features a mix of one-, two- and three-bedroom layouts and will include a state-of-the-art pool, a clubhouse, two dog parks, a pet spa, a disc golf course, open space and walking trails. Wood Partners’ attainable communities are built with upscale finishes such as granite countertops and stainless steel appliances and top-of-the-line amenities. The developer saves on costs by selecting well-located suburban sites, executing an efficient and consistent design, and embracing minimal, yet well-done, landscaping. These savings allow for a lower price point for the renter.

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NEW HAVEN, CT – CPP (Community Preservation Partners), a mission-driven affordable housing preservation developer, and Beacon Communities, one of the nation s leading affordable housing development and management companies, have announced the acquisition and plotted rehabilitation of Brewery Square Apartments in New Haven, Connecticut. This is the second community for CPP in the Honest Haven neighborhood, following the recent completion of nearby Fairbank Apartments.
Located at 1 Brewery Square along the Quinnipiac River, Brewery Square is a two-building, 104-unit apartment community originally constructed in 1896 as a brewery and later converted to housing in the early 1980s. With this acquisition, the team will extend affordability protections and implement significant renovations while preserving the historic character of the property.
This acquisition allows us to increase and deepen affordability while also extending the life of a property that is deeply cherished by the community, said John Fraser, Vice President of Development at CPP. We are proud to protect the historic fabric of this neighborhood while delivering modern upgrades that respond directly to resident needs.
The total development investment of approximately $43 million includes extensive renovations estimated at $112,342 per unit. Plotted upgrades include all-new stainless-steel appliances, updated bathrooms, quartz countertops, new windows, refinished floors, and the installation of advanced security systems. The site will also feature enhanced landscaping, cobblestone walkways, and the adaptive reuse of the historic gatehouse into a secure indoor bike storage area — an amenity specifically requested by residents. Additionally, the renovations are expected to improve the property s energy performance by more than 15%, enhancing efficiency and reducing utility costs.
“Brewery Square serves as a model for high-quality, architecturally fascinating, mixed-income housing, said Sarah Miller, Honest Haven Alder. We look forward to CPP and Beacon building upon and extending this legacy, preserving both affordability and quality for another generation.”
The renovation will transition 84 of the 104 units into the Low-Income Housing Tax Credit (LIHTC) program, with affordability levels ranging from 30% to 80% of Area Median Income (AMI), averaging just below 60%. The property s existing HAP contract, currently set to expire in 2034, will be extended by an additional 20 years, ensuring long-term affordability.
Brewery Square is made up of two continuous buildings and features a unit mix of two efficiency units, 41 one-bedroom units, 55 two-bedroom units, and six three-bedroom units. The property offers ample parking with 151 total spaces split between a 107-space front lot and a 44-space rear lot. Occupancy has consistently exceeded 95%, and residents have played a key role in shaping plotted improvements, particularly those that preserve the community s historic charm and enhance daily living.
The adaptive reuse of Brewery Square Apartments will modernize and expand affordable housing options In New Haven, while breathing new life into a piece of the City s history, said Dara Kovel, CEO, Beacon Communities. We re honored to bring our exceptional property management to a new community of New Haven residents. Thank you to our partners at Community Preservation Partners, who share our commitment to making quality housing that will remain affordable for generations to come.
Brewery Square marks the fifth property for Beacon Communities in New Haven. The company currently manages Ninth Square Apartments, Edith Johnson Towers and Monterey Place, and started construction last year on The Atwater at Ninth Square, which is expected to be completed in 2026.
The project leverages LIHTC 4% tax credits and tax-exempt bonds. Financing partners include NewPoint as the construction and permanent lender, KeyBank as the tax credit and EBL investor, Eversource as the state historic tax credit investor, and JPMorgan Chase as the federal historic tax credit investor. Heritage Consulting has been retained to ensure all work complies with National Park Service historic guidelines.

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CHARLOTTE, NC – WNC & Associates (WNC), a family-owned business known as both a pioneer and leader in the affordable housing industry, Winterwood Development, LLC, a family-owned business committed to developing high-quality housing, and Lumina Partners, LLC, a developer and investor in affordable housing throughout the Southeast, have begun construction on Sycamore Station II, a 168-unit affordable housing community in Charlotte s Oak Forest neighborhood.
Located at 6010 Calle Lumina Way, Sycamore Station II comprises seven three-tale buildings and a community center. The buildings house 168 residences, including 48 one-bedroom garden units, 36 two-bedroom garden units and 84 three-bedroom garden units.
Designed to serve residents earning no more than 60% of the Area Median Income (AMI) for Mecklenburg County—approximately $67,320 annually for a family of four—the property will offer rents significantly below those of comparable market-rate units. Estimated monthly rents are $1,100 for a one-bedroom, $1,400 for a two-bedroom, and $1,600 for a three-bedroom apartment.
Sycamore Station II will be the second phase of the larger Sycamore Station project, which opened in December 2022. Sycamore Station Apartments, the preceding phase, also offers 168 one-, two- and three-bedroom units, and currently maintains a six-month waiting period for an available unit.
As one of the fastest growing cities in the country, there is an incredible need to ensure that there is ample affordable housing in Charlotte, said Anil Advani, Executive Vice President of Originations and Finance at WNC. We are proud to partner on this development, which will provide high-quality, affordable homes and help meet the critical demand for housing in this vibrant and expanding community.
Each residence will feature a full range of modern amenities designed to support comfortable living, including a refrigerator, range oven, and central air conditioning. Additional features such as durable vinyl flooring, window blinds, and ceiling fans enhance both style and functionality. Units will also offer washer and dryer hookups, as well as private patios or balconies with attached storage closets, providing residents with a practical and welcoming living environment.
Community amenities will be centered around a thoughtfully designed clubhouse, which will feature an on-site management office, laundry facilities, an activity room, and a computer center to support resident needs. Outdoor spaces will include a playground, and a BBQ/picnic area conveniently located just east of the clubhouse. In addition, residents will delight in access to the fitness center at Sycamore Station Apartments, located immediately to the west, further enhancing the range of amenities available to the community.
Sycamore Station II will be financed through a combination of funding sources, including $20.8 million in Low-Income Housing Tax Credit equity from WNC & Associates, Inc., a $39 million construction loan from Citibank, and a $24 million long-term permanent loan, also provided by Citibank.
The project will break ground immediately and construction is expected to be completed in Spring 2027.

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