PCCP, LLC and Terwilliger Pappas form joint venture to develop Class a multifamily community near downtown Raleigh, North Carolina

138
Solis Cameron Hills
PCCP, LLC and Terwilliger Pappas Multifamily Partners formed a joint venture to develop Solis Cameron Hills, a 315-unit community in Raleigh, NC.

PCCP, LLC and Terwilliger Pappas Multifamily Partners have formed a joint venture to develop Solis Cameron Hills, a 315-unit Class A multifamily community located on Grant Avenue in Raleigh, NC. The property will be situated on over 10 acres in the highly desirable Glenwood neighborhood which is less than three miles from downtown Raleigh and its 45,000 jobs, local restaurants, and vibrant nightlife.

“PCCP is looking forward to bringing a Class A multifamily project to Raleigh with Terwilliger Pappas, a best-in-class multifamily developer with a number of successful developments in the local market,” said Brian Haber, a Vice President with PCCP.

Kevin Chin, a Senior Vice President with PCCP added, “Solis Cameron Hills will provide area renters with a well-located, fully amenitized, upgraded housing option in a high barrier to entry neighborhood that provides convenient access to employment centers, cultural amenities and excellent schools.”

The property is planned for 315 market-rate apartment units with a mix of studios, one-, two- and three-bedroom floorplans. The property spans five, primarily three-story, elevator-served buildings with conditioned corridors and includes over 100 covered parking spaces. The unit interiors will feature LED lighting, chef-inspired kitchens with islands, stainless steel appliances, shaker-style custom cabinetry and quartz countertops, tile backsplashes, under-mount sinks, USB outlets, ceiling fans, full-sized washer/dryers, walk-in closets, and electronic locks.

Solis Cameron Hills is in an infill location just seven minutes to downtown Raleigh, five minutes to NC State University and 15 to 25 minutes to the Research Triangle Park & Cary office markets. The property is also walkable to the retail/commercial districts of Five Points and Cameron Village which provide over 560,000 SF of largely lifestyle and neighborhood retail.

Raleigh is among the nation’s fastest growing metros, with its population expanding more than 2 percent annually for more than a decade and year-over-year job growth exceeding that of the U.S. consistently over the same time period. The highly educated metro has the second highest tech job growth nationally and the fourth highest percentage of its workforce in the STEM fields.