Real estate news hit the Triangle — and all about Briar Chapel, an amazing Clairemont client. Briar Chapel, one of the largest and best-selling master-planned communities in the Triangle, recently unveiled the newest addition to its growing, vibrant community. Blue Heron Asset Management will be launching gorgeous, high-end apartments at Briar Chapel, complete with an amenity center and Pinterest-worthy interiors. In fact, this will be one of the first major apartment complexes of this type on 15-501!
Aided by our pitch efforts, the Triangle Business Journal shared the full scoop below!
Raleigh developer plots apartments for Briar Chapel
A Raleigh real estate investment development firm has plans for an apartment complex in one of the region’s fast-growing communities.
Blue Heron Asset Management has announced it will build a 200-unit apartment community in Briar Chapel, a 900-acre master planned development south of Chapel Hill and led by Newland.
The apartments will be spread across three buildings, each four or five stories. The complex will have a centralized amenities building.
“Blue Heron is thrilled to be building at Briar Chapel, where we’ll be bringing the best-in-class finishes and amenities common in urban apartment projects to a more laid-back, gracious and community-centered setting,” says Kevin Wade, project manager for Blue Heron. “Residents will be able to enjoy the natural beauty of the Piedmont while maintaining a close proximity to the jobs and attractions in Chapel Hill, Durham, RTP and other hubs of activity in the Triangle.”
Apartments will range in size from 625 to 1,600 square feet — the company has yet to determine rental rates. Groundbreaking is slated for nearly next year, though the specifics of the timeline are still being worked out, as is the total cost of the project.
Apartments will include features often found in single-family homes, such as built-in bookshelves, separate dining areas and kitchen bars, according to a release. Amenities at the apartments will include a main club building, fitness area, demonstration kitchen, library, a community pool and outdoor space.
Coffee bars, lounges, and pop-up workstations will be included in the lobbies of all three apartment buildings.
JLL commercial real estate brokered the project.
Wade says as the popularity of mixed-use master-planned communities grows in the Triangle, so has interest from developers such as Blue Heron.
“It kind of proves out the attraction for tenants. People want to live in these communities and that’s attractive for us,” he says. “From a feasibility standpoint, Newland has laid an enormous amount of groundwork.”
Putting the project in Briar Chapel meant Blue Heron not only had the entitlements it needed to build the project, but the necessary infrastructure had already been put in place by Newland.
“Few other apartment complexes in Chatham County have the benefit of a site with existing entitlements and infrastructure,” says Mike Scisciani, vice president of operations for Newland. “Briar Chapel offers both, which enables Blue Heron to create a large, urban multi-family complex not normally found in this area.”
Briar Chapel is currently entitled for up to 2,500 homes, with 1,900 already built, along with a senior apartment complex and assisted living/skilled nursing facility by Liberty Healthcare Management.
The development also features 500,000 square feet of commercial space, which includes a Central Carolina Community college campus and Veranda, Briar Chapel’s current commercial area. That area opened three years ago and features 42,500 square feet of dining and retail space, as well as health care, legal offices and educational institutions.
Scisciani says another 400 residential lots are in the works, and Newland expects construction to continue for several more years.
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