Aventon Breaks Ground on Raleigh Community
This will be the developer's third asset in the area.
Aventon Cos. has begun construction of Aventon NorthRidge, a 346-unit apartment community located in Raleigh, N.C. Upon its opening in 2027, this will be the developer’s third asset located in the Raleigh-Durham market, following the launch of leasing of their previous community, Aventon Cary.
Cline Design Associates and Studio 5 Interiors are overseeing the project’s exterior and interior design. Individual apartments will feature one- to three-bedroom floor plans, listed to range between 705 and 1,572 square feet. Situated on 13 acres, the pet-friendly community will have amenities including a remote work lounge, clubhouse, swimming pool, fitness center and game room.
Located at 6311 Spring Forest Road, the Aventon NorthRidge site is located approximately two miles away from the Triangle Town Center, eight miles away from downtown Raleigh and 22 miles from Research Triangle Park in Durham.
According to Yardi Matrix information, Aventon Nora, the developer’s third property located in the area, features similar floor plans to NorthRidge, and is approximately 88 percent leased as of March 2025. The same data shows that the average asking rent as $1,935 for the Nora community, a figure significantly above the market’s average asking rent of $1,520.
Raleigh-Durham’s steady movement
At the beginning of this year, the Raleigh-Durham multifamily market had 20,272 units under construction. Last week, Kane Realty Corp. broke ground on a new mixed-use residential tower, part of a larger goal of building out the North Hills Innovation District, a $1 billion mixed-use project. The tower will stand 20-stories high and include 362 apartments.
READ ALSO: Raleigh Multifamily Report – February 2025
On the transaction front, ECI Group also made a recent acquisition in the area at the Flower Plantation in nearby Clayton, N.C. The acquisition, which tool place last month, included the trade of The Averly at Flowers, an 11-story 396-unit community. This was the first purchase within a larger $350 million joint venture between the firm and Almanac Realty Investors.
