Flournoy Development Group Breaks Ground on N.C. Senior Community
A new 55-plus community has broken ground in Asheville.
The Preserve at Busbee Mountain in Asheville. Image courtesy of Flournoy Development Group
Flournoy Development Group has commenced construction on a new senior community in North Carolina. The new development is poised to become a central component of the 130-acre master-planned residential development called The Preserve at Busbee Mountain in Asheville. Preceded by the 315-unit conventional multifamily community Ellison at The Preserve, the community will be followed by a second multifamily phase and then by single-family estate lots.
“Even amidst some lingering headwinds in the capital markets environment, this project is a prime example of our disciplined strategy focused on placemaking in only the highest-quality locations, meeting trusted capital partnerships to move new developments forward,” Tom Burr, vice president of Flournoy Development Group, told Multi-Housing News.
Southern corridor
Designed by architect Dynamik Design, the 179-unit development is being built by CF Evans Construction. First move-ins are scheduled to take place in summer 2025. An outdoor swimming pool with lap lanes will be among the common-area amenities of the community, which will feature multiple elevators in each of its buildings. Residents will be able to take advantage of planned social events and community activities arranged by an onsite lifestyle coordinator.
Positioned on the western slopes of Busbee Mountain, The Preserve at Busbee Mountain will stretch along Sweeten Creek Road in Central Asheville’s dynamic southern corridor submarket. Across the street is the Carolina Day Athletic Complex, Western North Carolina’s home for youth soccer.
Also nearby are the Blue Ridge Parkway, the Biltmore Forest, Biltmore Estate and 300-acre Lake Julian Park, offering boating, fishing, picnicking, outdoor games and special events. Shopping and entertainment are available along the Hendersonville Road corridor and in Biltmore Village. Several months ago, the developers of Hominy Creek Apartments in Asheville secured $49 million in development financing.
