Hudson Capital Properties Unveils Plan for North Carolina Apartments
- Jan 29, 2021
Multifamily investment and development company Hudson Capital Properties (HCP) has announced plans to develop a 240-unit apartment community in New Bern, N.C.
The Hudson at Carolina Colours will feature 10 garden-style buildings on 26 acres within the Carolina Colours single-family home community. A pool and deck featuring grilling stations and ample seating will be among the more prominent amenities.
Apartments in the development’s first phase will be offered in a mix of one- through three-bedroom floorplans. North Carolina commercial development firm Swain & Associates will provide the land in a joint venture with HCP to develop the property.
“Everyone knows about the growth and demographic trends impacting the Southeast U.S.,” Mathias Linden, managing director for Hudson Capital Properties, told Multi-Housing News. “The area benefits from good population growth and a good health care system, as well as connection to both jobs and recreation . . . In general, the housing stock is somewhat dated, making this an optimal time for Hudson to enter this market.”
The property will be constructed across from a newly developed Harris Teeter Shopping Center within the Carolina Colours golfing community. The location is also minutes from the U.S. Navy Marine Corps Cherry Station, which has recently commenced on a $150 million expansion project. The CarolinaEast Health System has plans to expand and enhance its emergency department and add a new women’s and children’s health pavilion in its largest expansion project in its more than half-century history.
“The major challenge was waiting for the crystallization of the major factors,” Linden said. “What makes this exciting is the expansion of the Marine Corps base, as well as the highway improvements that will provide better connectivity from this part of town to historic New Bern, as well as to the beach and the port.
“Having a new Harris Teeter grocery store, as well as an array of other retail, is an amenity we like to see before new development.” Earlier this month, Hudson Capital Properties sold two residential properties in Greensboro, N.C.