The multifamily housing developer Wood Partners and Marcus Partners, a real estate investment, management and development firm, have broken ground on a 280-unit multifamily community located in Apex, North Carolina, a suburb of Raleigh.
The upcoming Altera Heights development will include a mix of one-, two- and three-bedroom units spread across six three- and four-story buildings, and the community will also include income-restricted affordable housing. Amenities will include a freestanding clubhouse featuring a state-of-the-art fitness center, co-working space, gaming and lounge areas, as well as a resort-style swimming pool, outdoor fitness area, dog park and pet spa.
Marcus Partners is providing equity for the development, marking another collaboration with Wood Partners and the firm’s first ground-up development in the Raleigh-Durham market. Construction is expected to be completed by the end of 2027.
“Great communities begin with collaboration,” said Caitlin Shelby, managing director at Wood Partners. “From the beginning, our goal was to create a community that responds to Apex’s evolving housing needs while complementing the town’s long-term vision. We’re grateful for the partnership of the Town of Apex and Marcus Partners in bringing this project to life.”
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