Peerless Building 259-Unit NCSU Student Housing Development
Peerless Development is pursuing the construction of a 713-bed student housing project on Crest Road directly behind North Carolina State University’s South Campus.
The Triangle Business Journal reports that the site plans show a 7-story mixed-use building — the height would range from 5 to 7 stories due to grade changes on the site. There will be 259 units in total, with 50 one-bedroom units, 80 two-bedroom units, 23 three-bedroom units, 96 four-bedroom units, and 10 five-bedroom units. The project will be two levels of underground parking with 294 parking spaces. The only amenity detailed in the plans is a swimming pool. Peerless expects to add a retail component to the project.
The site is 2.57 acres at 1523 Crest Road, the current location of an apartment complex (shown), which must be razed before construction begins.
Peerless Development specializes in multifamily, student housing and industrial development and acquisition.
Other News
JLL Arranges Financing for Lightstone Acquisition on Upper West Side
JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...
Learn more
National City Investment Group Commences Workforce Housing Build
The National City Investment Group, a locally owned, privately held real estate investment company, recently broke ground on Market View, a 120-unit multifamily residential community located at 303 Highland Ave. in National City. The development will transform an underutilized parking lot adjacent to Manolo Farmers Market, which has served National City for more than 33...
Learn more
Levin Johnston Closes Apartment Sale in One of San Jose’s Strongest Submarkets
Levin Johnston of Marcus & Millichap recently completed the sale of First Street Manor, a 39-unit apartment community in San Jose. Executive managing directors Adam Levin and Robert Johnston, along with senior director, investments Cole Simpson, represented the seller and procured the buyer in the $9.112-million transaction. The Levin Johnston team demonstrated the asset’s upside...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout