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The $125-million project being built atop an existing parking garage will feature 345 apartments, including 70 workforce units.

The three-story medical office building is located within Brandywine Crossing, a 230,925-square-foot shopping center featuring a Safeway, Costco, Target, Xscape Theaters and CarMax.

Realtors pointed to a 9.6% increase in active single-family home listings (97,195) as a positive sign going forward that will help keep the lid on rising home prices in the Sunshine State.

The development's first tower, designed by Corwil Architects, will feature 312 apartment units and 6,000 square feet of retail in a 22-story building, will break ground in July.

The investment takes advantage of "a tight submarket with limited bulk availabilities and a lean construction pipeline," says Chris Sterling, vice president at TIG.

“This portfolio of properties provides us a unique opportunity to control an irreplaceable block of class A office product across three recently renovated and repositioned assets that cater to diverse users,” says Charley McGrath, MRP's Philadelphia managing director.