Woodfield Opens 302-Unit Raleigh Property
The community is part of a mixed-use master-planned development.
Woodfield Development has opened EMORIE, a 302-unit community in Cary, N.C., launching the first apartments. The property is part of Alston Town Center, a mixed-use master-planned development set to feature 550,000 square feet of retail.
In December 2023, United Bank originated a $49 million construction loan for the community, according to Yardi Matrix information. EMORIE is slated for completion in summer 2026.
Located at 3905 Mahal Ave., the six-structure property comprises three- and four-story buildings and spans some 11 acres.
The unit mix includes studio, one- and two-bedroom floorplans, ranging from 682 to 2,647 square feet. All units have washers/dryers, microwaves and private balconies or patios.
Shared amenities at the pet-friendly community encompass an outdoor swimming pool, a fitness center, coworking spaces, gaming and bowling areas, a podcast studio, a sky lounge and a clubhouse. The community is currently managed by Greystar, one of last year’s top multifamily property management companies.
A Whole Foods Market is available right across the property, while multiple dining and retail options, including a Target, are less than 2 miles north. Downtown Raleigh is some 17 miles away.
The Raleigh-Durham multifamily market saw 8,593 units come online in the first three quarters of last year, according to the latest Yardi Matrix report, and accounting for 4.2 percent of existing stock. This figure was almost double the national average.
