{"id":1004050216,"date":"2012-10-11T14:48:43","date_gmt":"2012-10-11T22:48:43","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=73880"},"modified":"2022-11-30T08:57:57","modified_gmt":"2022-11-30T16:57:57","slug":"capital-associates-to-build-30m-employee-housing-on-centennial-campus-in-raleigh","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/capital-associates-to-build-30m-employee-housing-on-centennial-campus-in-raleigh\/","title":{"rendered":"Capital Associates to Build $30M Employee Housing on Centennial Campus in Raleigh"},"content":{"rendered":"<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/Golf-course.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-73881\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/Golf-course.jpg\" alt=\"\" width=\"300\" height=\"201\" \/><\/a>by Adriana Pop, Associate Editor<\/p>\n<p>Cary-based Capital Associates is expected to break ground on The Greens at Centennial Campus, a 292-unit rental project in Southwest Raleigh\u00a0to house\u00a0campus employees. According to the <em>NewsObserver<\/em>, the $30 million complex would include three apartment buildings spread over 10 acres.<\/p>\n<p>At the moment, the only residential development at the 1,125-acre campus includes 33 for-sale townhouses. The university is also constructing a $129 million apartment-style student housing complex, which will offer 1,195 beds.<\/p>\n<p>Capital Associates, however, will not be targeting students as tenants. Instead, it hopes to attract public- and private-sector employees who work on campus. Expected to open a year from today, the new community will offer a green environment and more affordable rents than the new apartment complexes currently being built in Glenwood South or Cameron Village.<\/p>\n<p>\u201cWe\u2019re going to offer a very different environment,\u201d Tom Huff, an associate partner with Capital Associates told the newspaper. \u201cWe\u2019re surrounded by golf courses and lakes and bike trails.\u201d<\/p>\n<p>Amenities at the N.C. State University Centennial Campus include an 18-hole public golf course, bike and walking trails, as well as a fishing pier by Lake Raleigh. The university hopes to add more amenities, with the proposed construction of a $56.6 million conference center and hotel. Developer Concord Eastridge of Arlington, Va., has yet to secure financing for the project.<\/p>\n<p>In other news, the Sheraton Raleigh Hotel at 421 South Salisbury Street in downtown Raleigh has been sold to a subsidiary of a fund managed by Oaktree Capital Management L.P. and affiliates of Northview Hotel Group. Financial terms of the transaction were not disclosed.<\/p>\n<p>The hotel was built in 1981 and features 353 guest rooms, a 4,600-square-foot restaurant and 18,000 square feet of meeting space. The <em>Triangle Business Journal<\/em> reports that the seller, Genwood Raleigh LLC, a subsidiary of Gencom Group of Miami, purchased the property in 2006 for $22 million.<\/p>\n<p>The sale marks Northview\u2019s second acquisition in the last four months. In May, the company acquired the Sanderling Resort &amp; Spa, a picturesque oceanfront resort in Duck, North Carolina.<\/p>\n<p><em>Photo credits: www.lonniepoolegolfcourse.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>by Adriana Pop, Associate Editor Cary-based Capital Associates is expected to break ground on The Greens at Centennial Campus, a 292-unit rental project in Southwest Raleigh&nbsp;to house&nbsp;campus employees. According to the NewsObserver, the $30 million complex would include three apartment buildings spread over 10 acres. At the moment, the only residential development at the 1,125-acre [&#8230;]<\/p>\n","protected":false},"author":260,"featured_media":1004506548,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1604],"tags":[1815],"class_list":["post-1004050216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-raleigh-durham","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Capital Associates to Build $30M Employee Housing on Centennial Campus in Raleigh - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/capital-associates-to-build-30m-employee-housing-on-centennial-campus-in-raleigh\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital Associates to Build $30M Employee Housing on Centennial Campus in Raleigh\" \/>\n<meta property=\"og:description\" content=\"by Adriana Pop, Associate Editor Cary-based Capital Associates is expected to break ground on The Greens at Centennial Campus, a 292-unit rental project in Southwest Raleigh&nbsp;to house&nbsp;campus employees. According to the NewsObserver, the $30 million complex would include three apartment buildings spread over 10 acres. 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