Real Estate - SEPTEMBER 20, 2021

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Capital Square to develop trophy multifamily tower in Raleigh

by Released

The development arm of Capital Square, a national sponsor of tax-advantaged real estate investments, announced plans to develop a 20-story class A multifamily tower at 320 W. South Street in the Warehouse District of Raleigh, N.C. The 297-unit, approximately $121 million development is expected to be completed by June 2024.

The groundbreaking of the project is tentatively scheduled for April 2022.

Situated at the intersection of the Boylan Heights neighborhood, Dorothea Dix Park and downtown Raleigh, 320 W. South Street will be one of only a handful of luxury rental housing communities in the downtown submarket. “This is a great location for this type of development; it checks all of the supply and demand boxes,” said Adam Stifel, executive vice president of development with Capital Square. “There is a lack of luxury multifamily properties in the downtown submarket, as rental demand for this type of project keeps growing. 320 W. South Street will provide a

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