{"id":1004113962,"date":"2015-02-20T16:21:47","date_gmt":"2015-02-21T00:21:47","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=327312"},"modified":"2020-05-18T08:43:33","modified_gmt":"2020-05-18T16:43:33","slug":"two-capital-breaks-ground-on-30m-multi-family-development-in-a-top-50-master-planned-community","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/two-capital-breaks-ground-on-30m-multi-family-development-in-a-top-50-master-planned-community\/","title":{"rendered":"Two Capital Breaks Ground on $30M Multi-Family Development in a Top 50 Master Planned Community"},"content":{"rendered":"<p><em>by Adriana Pop, Associate Editor<\/em><\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Capital-Creek-Club-Night-View-TWO-Raleigh.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-327313\" title=\"Capital Creek - Club Night View -TWO - Raleigh\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Capital-Creek-Club-Night-View-TWO-Raleigh.jpg\" alt=\"\" width=\"300\" height=\"220\" \/><\/a>Construction has begun on Capital Creek, a 214-unit multi-family complex within the Heritage master-planned community in Wake Forest.<\/p>\n<p>According to the <em><a href=\"https:\/\/www.bizjournals.com\/triangle\/blog\/real-estate\/2015\/02\/heritage-wake-forest-nc-capital-creek-apartments.html\" rel=\"nofollow\">Triangle Business Journal<\/a><\/em>, Atlanta-based TWO Capital Partners is investing $30 million into the project, which will be located near Heritage Middle School on Rogers Road. Patterson Real Estate Advisory Group, the developer\u2019s capital advisor, arranged a construction loan with RBS Citizens.<\/p>\n<p>\u201cIt is no secret that Raleigh-Durham has experienced tremendous growth over the past few years,\u201d Ralph Wilson of TWO said in a news release. \u201cWhile the majority of developers have focused predominately on urban infill locations, we saw a significant opportunity in the suburban pockets. Capital Creek will be surrounded by a large amenity base, great schools and some of the strongest demographics in the Triangle.\u201d<\/p>\n<p>Construction on the new community is expected to last for approximately 16 months, with lease-up commencing in the beginning of 2016. TWO Capital\u2019s other partners in the project include Mulkey Engineers and Consultants and general contractor C.F. Evans &amp; Co.<\/p>\n<p>The 2,000 acre Heritage master planned community has been rated as one of the Top 50 master-planned communities in the U.S. for four consecutive years by John Burns Real Estate Consulting. Upon completion, it will include a golf course, three public schools, a private school, a charter school and multiple office and retail facilities.<\/p>\n<p>\u201cTWO employs an impressive analytical approach to identify potential multifamily sites,\u201d added Lance Patterson of Patterson. \u201cAt Capital Creek, they have thoroughly examined the submarket\u2019s strong and growing demand base, and we are confident that this attention to detail will result in a successful execution.\u201d<\/p>\n<p><em>Photo credits: TWO Capital Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Construction has begun on Capital Creek, a 214-unit multi-family complex within the Heritage master-planned community in Wake Forest.<\/p>\n","protected":false},"author":260,"featured_media":0,"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":[],"class_list":["post-1004113962","post","type-post","status-publish","format-standard","hentry","category-latest","category-raleigh-durham"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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