HHHunt Breaks Ground on $63M North Carolina Community
The project is located south of Raleigh-Durham.
A rendering of the completed project in Fuquay-Varina. Image courtesy of HHHunt
HHHunt Corp. has broken ground on a new apartment community in Fuquay-Varina. The $62.7 million property, Abberly Royal Creek, will feature 250 apartments: 109 one-bedroom units, 126 two-bedroom residences and 15 three-bedroom apartments.
This project is HHHunt’s fifth multifamily community in the Raleigh area and its 12th in the Tar Heel State. All of the apartments are accessible by elevator. Common-area amenities will include a lounge with billiards, foosball and shuffleboard, a demonstration kitchen with a coffee bar, an arcade and private work pods.
Development hurdles
“Several different things changed since we first started looking at this site,” Lance Goss, senior vice president of HHHunt Apartment Living, told Multi-Housing News. “They included construction costs, interest rate increases and labor shortage issues. But we were so confident and so excited about being in this location that we moved ahead with the project. Our company philosophy is 90 percent reinvestment into the company. We have been doing that for 55 years, and that allows us to keep moving forward when the economy is tight, and keep building when others can’t.”
Abberly Royal Creek’s location offers residents convenient access to retail options via Highway 401. “We are only 15 minutes from downtown Raleigh, and less than a mile from the new Interstate 540, the Outer Loop,” Goss said. “That should be opening right around the time we will be opening our first homes, probably in the late summer of 2024.”
Abberly Royal Creek will be the first elevator-served building of its height in the area, he added. “We love doing that,” Goss said. “We do elevator-served buildings in almost every new construction project we undertake, so that it is available to an ageless demographic. Any person can live on any floor if they desire.” In February, HHHunt completed its acquisition of under-construction Abberly Riverwalk in Nashville.
