An affiliate of Capital Broadcasting (CBC) in Raleigh is developing a 237-unit apartment complex with 15,000 square feet of retail in Holly Springs. The project, on Main Street, is across the street from Ting Park, where the Holly Springs Salamanders play.
Overlook on Main will have two 5-story apartment buildings and a single-story retail building at 1220 N. Main St. The apartments will be a mix of one, two and three bedrooms. Amenities will include a swimming pool, grilling area, club room, dog park, playground, fitness center and sky lounge.
The retail building will have space for four to five tenants with an activated rooftop space. The Triangle Business Journal reports the company is looking to bring in a food and beverage retailer for the rooftop, where customers can view baseball games at Ting Stadium. CBC owns and operates the Salamanders baseball team.
CBC expects to start construction in early 2026, and the first units will be delivered by the end of 2027.
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
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The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
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