PointOne Holdings Breaks Ground on Two Multifamily Developments Projects Valued at $90 Million
Hollywood – June 25, 2018
Last quarter was very busy at PointOne Holdings. We broke ground on two institutional quality multifamily development projects with a total of 614 apartment units and a development value of $90 million:
The Promenade at Newnan Crossing: A 298-unit, Class-A multi-family Project with a mix of 3-story apartments and for-rent townhomes located in the Metro Atlanta City of Newnan, Georgia.
The Exchange at Holly Springs: a 316-unit Class-A luxury garden style apartment community to be located in the high-growth Raleigh-Durham suburb of Holly Springs, North Carolina.
Both properties are running on schedule and we expect the first residents to move-in during the second quarter of 2019.
The lack of recent deliveries and further constraints in supply, combined with the substantial increase in population, has created a shortage of rental options at both locations. We are already getting calls from future residents!!!
We are excited about these two development projects and will have a few similar opportunities to present to you in the next few weeks.
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