Grubb, Kalikow Break Ground on Link Apartments Glenwood South in Raleigh
- Jul 07, 2014
In order to complement the Glenwood South entertainment corridor and downtown Raleigh’s job growth, Grubb Properties in partnership with The Kalikow Group have officially broken ground on Link Apartments, Glenwood South, a 204-unit apartment community in downtown Raleigh.
Grubb Properties bought the 1.3 acre site back in April, at the intersection of North W. Street and West Jones Street, from PHP Development, L.L.C. A former warehouse district, the site has become one of North Carolina capital’s trendiest areas, neighbored by retail and restaurant businesses that promote the city’s nightlife.
“As long-term developers in the research triangle area, we recognized the need for apartments to cater to the millennial generation wanting a cooler work/play environment similar to the meatpacking district in NYC, in the downtown Raleigh area,” Ed Kalikow, president & CEO of The Kalikow Group told Commercial Property Executive.
Slated for completion and pre-leasing in the spring of 2015, Link Apartments feature walk-in closets, USB outlets, large bathroom vanities and kitchens. Apartment amenities include a fitness center, cycle center, a dog park, club room and outdoor recreation area.
The 204 units are made up of a mix of studios, one- and two-bedroom apartments at an average of 688 square feet and a range of 497 – 1,079 square feet, according to The Kalikow Group’s spokesperson, who added that rent will be priced comparably to other downtown communities, such as the St. Mary’s Square Apartments.
The Link is within walking distance to the neighborhood’s main artery, Glenwood Avenue, and the downtown core with new employment centers, including the Citrix Systems office facility, Red Hat global headquarters and the Charter Square office building, according to the news release.
“There is a significant demand for downtown rental housing with the large employment boom, including companies that are bringing in a lot of millennial-aged employees (Citrix, Red Hat, etc); population growth; downtown revitalization; and shortage of historical supply,” Rachel Russell, director of Real Estate Development, Grubb Properties told CPE . “Link Apartments targets locations where there is a significant growth projection for the millennial age group.”