Turnbridge Equities, a New York City-based real estate investment company, has begun site demolition and will soon break ground on Highline Glenwood, a 37-story, 306-unit luxury residential tower in Downtown Raleigh, North Carolina.
When completed, Highline Glenwood will be Raleigh’s tallest residential tower. The property will offer a range of units, with studio apartments up through three-bedroom penthouses with condo-quality finishes, and it will be topped with a 37th floor indoor/outdoor sky lounge, along with a 13,000-square-foot outdoor amenity terrace on the 9th floor that will include a pool, padel court, lawn, grills, fire pits, and lounge areas. Additional resident amenities also include a demonstration kitchen, coworking suite with conference and videoconference rooms, a Trackman golf simulator, a fitness center designed in consultation with Anatomy Fitness, and a wellness suite with cold plunge, sauna, and Hyperice recovery technology.
The property will also feature approximately 7,500 square feet of retail space on the ground floor, in addition to approximately 50,000 square feet of commercial space in the historic Creamery building, which will be preserved.
In connection with the start of construction, Turnbridge has closed on approximately $147 million of construction financing provided by Axos Bank and managed accounts of the Manulife Investment Management Real Estate Credit Strategies Team. Turnbridge is providing the equity for the project.
“As we have done across Turnbridge’s platform, we believe very strongly in building the best, most differentiated product in the market, which will appeal to today’s renters and stand the test of time,” says Turnbridge Managing Director Jason Davis. “Highline Glenwood will provide a true Trophy-quality project for Raleigh’s fast-growing population.”
