A Denver-based property management and real estate development firm's recent ground-breaking for a luxury residential community in Raleigh builds on the company's growth in the city, a company official said.
The residential community, Alta Vale, is expected to open in March 2023, with pre-leasing beginning even earlier, a recent press release issued by Wood Partners said.
"We designed Alta Vale to provide residents with the best of both worlds—a modern, luxurious community to call home located in a prime location with direct access to Raleigh's Crabtree Creek greenway," Wood Partners Managing Director Caitlin Shelby said in the release. "The addition of Alta Vale comes on the heels of Wood Partners' significant growth in the Raleigh market in 2021, including the recent openings of Alta Davis in Morrisville and Alta Wren in Cary."
Shelby manages sourcing, financing and development of Wood Partners' multifamily communities in eastern North Carolina and Virginia. The firm owns 70 properties, amounting to more than 20,000 homes, across the nation.
Alta Vale is expected to offer 306 apartments in one-, two- and three-bedroom floor plans with each property unit equipped with up-to-date, high-end finishes that will include stainless steel appliances, quartz countertops, an in-home washer and dryer and tile backsplashes. New residents also can expect vinyl plank flooring in their kitchens, bathrooms and living room.
"We look forward to welcoming new residents home early next year and continue to seek out new opportunities to bring our unique brand of high-end living to additional locations throughout the Research Triangle," Shelby said in the release.
Alta Vale is being built near the I-440 Beltline in Raleigh, a location with easy access to more than 100,000 jobs in the city's downtown, as well as to North Carolina State University and Research Triangle Park. Alta Vale also is close to top retail, dining and other attractions, including the North Carolina Museum of Art, Raleigh-Durham International Airport, PNC Arena and the 5,600-acre Umstead State Park.
Alta Vale itself will have many community-located amenities, such as its resort-style pool, on-site dog park and an outdoor communal kitchen and lounge. In-community facilities also will include a luxurious club house, which is expected to feature a state-of-the-art fitness center, game room, resident café and pet spa, in addition to co-working and conference spaces.
The community's common areas will feature urban designs, including high-speed internet hotspots.
"Alta Vale will be a perfect addition to our existing North Carolina portfolio as we continue to see tremendous growth within Raleigh and the surrounding area," Shelby said.