Grubb Properties Moves Ahead with Plans for $35.5M Link-Branded Apartment Project
- May 07, 2014
by Adriana Pop, Associate Editor
The Triangle’s first Link-branded apartment community will soon rise in the vibrant Glenwood South district of downtown Raleigh.
According to the Triangle Business Journal, Grubb Properties and its New York-based equity partner, The Kalikow Group, have recently acquired the development’s 1.3-acre site for $5.45 million.
Upon completion in the spring of 2015, the $36.5 million Link Apartments Glenwood South project at 201 N. Harrington Street will offer a total of 203 apartments, including studio, one and two-bedroom units.
Located within walking distance to several shops, restaurants, and clubs, the six-story property will also feature a variety of amenities, including an integrated parking deck for 243 cars, a clubhouse and leasing center, a fitness center, a cycle center, a dog park and a large outdoor pool and terrace area with a summer kitchen pavilion.
Designed by architecture firm Cline Design Associates, the apartments will be developed under Grubb’s Link brand, which targets millennial renters who prefer to live in urban areas that offer easy access to jobs, entertainment and cultural amenities.
Todd Williams, executive vice president of investments for Grubb Properties, told the newspaper that the Glenwood South project would be the company’s third Link-branded apartment development. Grubb’s first such community opened in Richmond in 2013, and the second one is scheduled to open in Winston-Salem this summer.
In regional news, the Triangle Business Journal reports that a group of North Carolina investors and real estate developers are planning the construction of a 2,100-acre senior living community at Oak Island along the North Carolina coastline.
Plans call for a total of 2,250 residential units, including single-family and multi-family homes, cottages, condominiums, townhouses and assisted living facilities.
Known as The Charles, the development could nearly double Oak Island’s population of approximately 6,700 people. Construction on the first phase of the project, which will include health care, retail services and independent living units, could begin this fall.
Photo credits: Cline Design Associates