Stiles, Grubb Ventures Team Up in Raleigh
Posted on 2/24/2016Fort Lauderdale-based Stiles Residential Group and locally based Grubb Ventures have partnered to develop a new 186-unit luxury mid-rise apartment community in the heart of Raleigh, N.C.
Rendering courtesy of JDavis Architects
The project is located at the intersection of Glenwood Avenue and Oberlin Road inside the I-440 Beltline, offering easy access to Carolina Country Club, downtown Raleigh and Cameron Village.
Designed by JDavis Architects, the plan calls for a mix of one-, two- and three-bedroom apartments ranging in size from 600 square feet to more than 1700 square feet, each featuring high-end condominium-level finishes and appliances. The carefully designed interior and exterior gathering spaces will be substantially larger than comparable properties in the Raleigh market. Amenities will include parking space, three resident lounges/clubrooms, a café, resort-style pool and outdoor entertainment area, terrace overlooking the adjacent golf course, fitness center, and lushly landscaped courtyard with seating areas and a bocce ball court.
Construction is scheduled to begin in March and the first residents are expected to move in by early summer 2017.
"This project marks Stiles' foray into Raleigh as part of our strategic expansion outside of Florida and into select submarkets throughout the Southeast," Scott MacLaren, Stiles president of North Carolina Operations, said in prepared remarks.
Since opening an office in Charlotte in 2012, Stiles has completed three commercial shopping centers in the submarket and has several other residential and commercial projects in the pipeline. Most recently, Stiles Residential Group delivered the co-developed Pillar award-winning Twelve|Twelve, a 286-unit, 23-story, luxury condominium project in Nashville, Tenn., and One Plantation, a LEED-certified 321-unit luxury apartment community in Plantation, Fla. Stiles is currently developing Amaray Las Olas, a 30-story luxury high-rise one block from Las Olas Boulevard in the heart of downtown Fort Lauderdale.
Raleigh-based Grubb Ventures has developed a number of signature multifamily and single-family communities within the immediate area, including The Gardens on Glenwood, which is located directly across the street from the new project, and The Oaks at Fallon Park. Most recently, Grubb Ventures completed 401 Oberlin, a 244-unit luxury apartment community located in the heart of Cameron Village. The group is currently developing Sojourn Lake Boone, a 283-unit luxury apartment community located just inside the I-440 Beltline at Lake Boone Trail.