Business

May 7, 2014

Construction begins on Glenwood South apartment project

Grubb Properties has begun construction on a 204-unit apartment complex in Raleigh’s Glenwood South area.

Grubb Properties has begun construction on a 204-unit apartment complex in Raleigh’s Glenwood South area.

The project, Link Apartments Glenwood South, is being built on a 1.27-acre lot at the intersection of North West and West Jones streets, across from the 42nd Street Oyster Bar.

The complex is scheduled to open in the spring of 2015.

The Link Apartments will face competition from a number of other new apartment communities in the area that have either recently opened or are now under construction.

One of those complexes, St. Mary's Square, set a record for the most paid for a Triangle apartment complex on a per-unit basis when it was acquired last year for nearly $204,000 a unit.

This is the third Link-branded community that Grubb has developed. A Link community opened in Richmond, Va. in 2013 and another is set to open in Winston-Salem this summer. The projects are all targeted at millennials who desire to live in urban areas.

Grubb’s equity partner in the Link Apartments Glenwood South is The Kalikow Group.

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