News: National News

Stiles begins 232-unit multifamily community at Grove Ninety-Eight in Wake Forest, NC

Wake Forest, NC Stiles has commenced construction on a 232-unit multifamily community at Grove Ninety-Eight, a mixed-use master planned development also featuring a 100,000 s/f Wegmans, an additional 80,000 s/f of walkable retail, and 395 “for sale” residential units. The project is located in the evolving North Raleigh submarket, east of US-1/Capital Blvd. along Hwy. 98 at the Ligon Mill Rd. intersection.

The garden apartment community will feature top-of-market, resort-style indoor and outdoor amenities that cater to young professionals, empty nesters, and families. The community will offer a mix of one-, two- and three-bedroom apartment homes with finishes such as quartz countertops, stainless steel appliances, luxury vinyl plank flooring, solid wood shaker cabinetry, modern fixtures, smart technology, and 1GB Wi-Fi service. First occupancy for residents is expected in late summer of 2023.

“We are excited to grow our multifamily development footprint into North Raleigh and look forward to bringing a community to the town of Wake Forest that will provide residents with best-in-class unit finishes and amenities at a level of quality and luxury that Stiles has become known to deliver. In addition to providing convenient access to surrounding employment nodes such as RTP, downtown Raleigh and North Hills, residents will also have thoughtfully designed areas that provide dedicated work-from-home areas,” said president of Stiles Residential Group, Jeff McDonough. “Perhaps one of the most unique aspects of this community for residents to enjoy is the walkability and convenience to adjacent dining and retail options that are usually only seen in more urban locations, as well as proximity to Wegmans.”

An 8,500 s/f clubhouse will anchor the amenity base of the community and feature a fitness center, multiple resident lounges and a resident co-working area with private meeting rooms. Outdoor amenities include a resort-style pool, expansive outdoor dining and entertainment areas, beer garden, dog park and spa, fitness lawn, children’s playground/tot lot, and detached private garages. JDavis Architects, PLLC is the project architect and Fortune-Johnson Construction is the general contractor.

Stiles Residential Group has a development pipeline that exceeds $1 billion in capitalization with over 900 units currently under construction, including Peabody Union in Nashville, TN and The Ellsworth in Plantation, FL, as well as over 1200 units in predevelopment throughout Florida, North Carolina and Tennessee.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary