April 25, 2022
Now that we’re in the second quarter of 2022, we want to take this time to give you an update on our properties that are under development. Currently, we have nearly 859 new construction or rehab units in our pipeline and are very excited about what’s to come over the rest of this year and 2023.
Townhomes at Washington Terrace, Raleigh NC
These units are the fourth phase of the Washington Terrace redevelopment and will provide 58 townhomes for sale. Of those units, 17 will be for sale to low- and moderate-income first-time homebuyers earning 80% or less than the Area Median Income.
Construction is planned to begin soon and the townhomes should be completed by late 2023. More information about the Townhomes at Washington Terrace is available here.
Pennington Grove II, Garner, NC
Phase II of Pennington Grove consists of 69 one-and-two-bedroom apartment units for seniors ages 55 and over. The development of this phase was funded by tax credits from the NC Housing Finance Agency and gained immediate interest once it was announced.
We’re proud to say that, as anticipated, Pennington Grove II is now fully leased.
Primavera, Raleigh, NC
Consisting of 164 apartment units for seniors, construction officially began on our Primavera development in June 2021. As we get closer to completion, we will open the interest list for the units starting this summer. If you or someone you know would like to be added to the interest list, keep an eye on this page in the coming weeks.
We expect to complete construction on the property by March 2023.
Booker Park South at Washington Terrace, Raleigh NC
The third phase of the Washington Terrace redevelopment project is Booker Park South at Washington Terrace. This development consists of 68 apartments for seniors and was made possible by the 9% Low-Income Housing Tax Credits DHIC received in 2020.
Construction broke ground on Booker Park South in November 2021 and is expected to be complete by December 2022. We will be opening the interest list for this development this summer, which you can track here.
As we make progress on these ongoing developments, we’ll continue providing updates about them on our website. You can also learn more about our current developments at any time by visiting this page.