APG staff was recently treated to a bus tour of several of our properties now in development, located in Raleigh and Southeast Wake County.
Stop #1 Edgewater Commons
Edgewater Commons is a 60+/- acre master planned mixed-use project situated along US 64 Business, halfway between routes I440 and I540 at the intersection of New Bern Avenue and No. Rogers Lane.
Wayne Hightower, President of APG Capital walked us through the planning and progress to date.
Phase 1, which calls for 300 apartment units across nine buildings of up to five stories, is now underway! It was exciting to see the progress crews have made on rough grading and excavation. Vertical construction is expected to begin in Q2 2023, with completion planned in Q2 2024.
Future phases call for 105 townhomes set on 10 acres, a ± 120,000 SF neighborhood commercial center on 19 acres, and a 2-acre commercial outparcel for retail or office use.
Stop #2 Fuller Street Land Assemblage
The subject property, now Under Contract, is a collection of lots with a combined 4.49 acres situated mere steps from the entrance of Dorothea Dix Park. This is a highly coveted location and the focus of regional and national mixed-use developers.
Stop # 3 Tour a Tiny Home Prototype
The next stop at 1105 Legend Road to explore the Digital Nomad prototype designed specifically for remote work. The unit is built within shippable, oversized-load dimensions so that it can be manufactured at scale.
Digital Nomad is a network of locations based on the concept of members paying one rent to be able to pay live anywhere for any length of time. You can read more about the concept here.
The first Raleigh-based Digital Nomad Community will be underway in 2023, situated on 2.35 acres at 3708 Rock Quarry Road in southeast Raleigh, directly across from the Coastal Credit Union Music Park. Forty dwellings for flexible-term leasing are planned. Nomad Development LLC purchased the site from APG Capital in February 2022 for $750,000.
“APG is excited to see what can and will happen with The Digital Nomad developments under Zach Milburn’s leadership. He is developing housing around a new lifestyle that was catapulted forward during COVID. This should be fun.” Jim Anthony
Stop #4 Forest at Swift Creek
Next we visited the Forest at Swift Creek property located off of Fayetteville Road in Garner. This property consists of multiple parcels totaling over 400 acres and may include 1,000 total residential units consisting of an age-restricted senior community, assisted living, single-family homes, townhomes and/or a continuing care retirement community.
APG and KDM Development are working on a joint venture apartment and retail development on 41 acres of the site.
The project may also include a mixed-use retail component to complement what will likely include significant recreational areas and facilities.
Stop #5 Lawdraker Road
We also visited a development site on Lawdraker Road in Apex. This 10.76-acre property was the previous site of a riding stable.
The development team is currently configuring lot subdivision for residential use. Ryan Blankenship is leading the project.
Stop #6 The Plaza at Rhamkatte Village
Our last stop was the Plaza at Rhamkatte Village, a commercial mixed-use project situated on 5.5 acres at 601 Holly Springs Road. The property will feature a 2-story, 37,000 square-foot office building, an 8,250 square-foot single story retail building, outdoor café and seating area, and surface parking.
The plaza sits beside Holly Springs Elementary School and across the street from a retail shopping center anchored by Lowes Food.
Pre-leasing is underway for both retail and office space. Two outparcels are available for purchase.
Stay tuned for further updates on these properties, and other upcoming tours of Hunter Place in Youngsville, Landis Road in Oxford, and Boyce Mill Road in Raleigh and Hillandale Road in Durham. From commercial mixed-use, residential mixed-use, co-living, high-end camping, tiny homes and treehouses, APG’s vision and upcoming development sites will be exciting.
Additionally, and for your convenience, APG Advisors has gathered detail on a wide selection of regional projects now under construction across our primary service area: Multifamily projects of over 200 units, office buildings of over 30,000 square feet, retail sites of over 30,000 square feet, and industrial sites of over 50,000 square feet. Visit our Area Developments page for updates and summaries.