Stiles, Grubb Ventures Partner to bring new standard of luxury apartment living to Raleigh, NC
Posted on 2/19/2016Fort Lauderdale-based Stiles Residential Group and Raleigh, NC-based Grubb Ventures announced today they have partnered to develop a new 186-unit luxury mid-rise apartment community in the heart of Raleigh, NC. Located at the intersection of Glenwood Avenue and Oberlin Road inside the I-440 Beltline, the project is ideally situated adjacent to the prestigious Carolina Country Club, just minutes from downtown Raleigh and Cameron Village.
Distinguished by spacious units and a range of luxury amenities unparalleled in the Raleigh submarket, the community plans to deliver a refined living experience consistent with the quality and sophistication of the surrounding neighborhood. The building's thoughtful architectural design and timeless materials reflect the established feel of its "inside the beltline" surroundings at the heart of Raleigh's most exclusive neighborhoods. Convenient location, discrete gated parking, elegant interiors and outstanding amenities all combine to provide residents the experience of resort-style living. Construction is scheduled to commence in March and first move-ins are anticipated to be in early Summer 2017.
"We are excited to partner with Grubb Ventures, one of North Carolina's preeminent real estate firms, to bring a distinctive residential project to the heart of Raleigh," said Stiles President of North Carolina Operations, Scott MacLaren. "This project marks Stiles' foray into Raleigh as part of our strategic expansion outside of Florida and into select submarkets throughout the Southeast."
The design emphasizes larger floor plans, a higher concentration of two-and three-bedroom apartments, and an unmatched range of resort-style amenities. Apartment homes include studio, one, two and three bedrooms ranging in size from 600 square feet to more than 1700 square feet, each featuring high-end condominium-level finishes and appliances.
Offering multiple opportunities for residents to gather and entertain, the carefully designed interior and exterior gathering spaces will be substantially larger than comparable properties in the market. The plan includes 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.
"This project is set apart by its design, spacious floor plans, robust amenity space and excellent location for a luxury multifamily rental project," said President of Stiles Residential Group, Jeff McDonough. "Working with a highly accomplished partner in Grubb Ventures, we are able to bring an exceptional apartment community to the market that invites renters who require more space, quality features, high-end services and a great location. That is a rare combination."
"We are thrilled to partner with Stiles on this landmark residential project after having acquired it back in 2012," said Gordon Grubb, President of Grubb Ventures. "Stiles' proven track record of award-winning, thoughtfully planned commercial and residential developments throughout the Southeast provides for an excellent synergy between our two groups. We share a unique vision for this property that focuses on enriching the community while offering a superb lifestyle for our residents."
Grubb Ventures has developed a number of signature multi-family 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. Currently, the group is underway with Sojourn Lake Boone, a 283-unit luxury apartment community located just inside the I-440 Beltline at Lake Boone Trail.
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 in Nashville, TN, and One Plantation, a LEED-certified 321-unit luxury apartment community in Plantation, FL. Stiles is currently underway with Amaray Las Olas, a 30-story luxury high-rise one block from Las Olas Blvd in the heart of downtown Fort Lauderdale.
About Grubb Ventures
Headquartered in Raleigh, Grubb Ventures is a boutique real estate development, management, and leasing company that creates and redevelops high quality communities in infill locations in the Research Triangle Region of North Carolina. Our mission is to rethink the current use of real estate and identify a higher and better use, rebuild developments with a new vision and purpose, and renew the surrounding neighborhoods in which we work. Learn more about Grubb Ventures atwww.grubbventures.com.
Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. The company is responsible for more than 43 million square feet of office, residential, industrial, retail and mixed-use projects throughout the southeastern United States. Headquartered in Fort Lauderdale, Stiles has built its footprint throughout Miami, West Palm Beach, Naples/Fort Myers, Tampa, Orlando, and Jacksonville, Florida. The company also maintains a development office in Charlotte, North Carolina. Learn more about Stiles at www.stiles.com.