Quarterra, Nuveen Break Ground on Charleston Apartments
This project starts a two-phase development geared toward middle-income residents.
A joint venture between Quarterra Multifamily, formerly known as Lennar Corp. and Nuveen Real Estate have broken ground on Emblem Cane Bay North, a 312-unit garden-style apartment community located at 44000 Owl Wood Lane in Summerville, S.C. The project is the first in a two-phase development endeavor, designed to provide market-rate housing to working-class renters around Charleston.
After construction, Emblem Cane Bay North will offer a mix of one-, two- and three-bedroom apartments ranging from 783 to 1,434 square feet. Residents will have access to stainless steel appliances, kitchen islands with quartz countertops, vinyl plank flooring and walk-in closets. Additionally, each apartment will make use of SmartRent, an automated property management and access control software. Community-wide amenities include a swimming pool, clubhouse, lounge, dog park and both indoor surface-level and garage parking space. The property is surrounded by public biking and walking trails.
Situated in northern Somerville, the development will be within walking distance of numerous retail and dining options and adjacent to regional Highway 176 and Interstate 26, placing it within 25 miles of some of the city’s largest employers, as well as downtown Charleston.
Quarterra’s quantum leap
With 7,619 units currently under construction and 7,765 completed from 2019 to 2021, Quarterra is among the nation’s largest and most active multifamily developers, placing fourth in Multi-Housing News’ 2022 Top Multifamily Development Firms ranking. In Charleston, the joint development of Emblem Cane Bay follows the firm’s topping off of Cormac, a 303-unit mixed-use multifamily and retail property in the city’s upper peninsula.
The firm is also undertaking several other high-profile projects across the nation , including a joint development of The Piper Apartments, a 284-unit community in Seattle, in addition to Harper, a 256-unit partially affordable community outside of Boston.