A real estate firm in Greenville is planning an apartment community inside the Beltline in Raleigh with a yoga center, billiard room, and cooking demonstration area.

Taft Development Group has filed site permits for a 195-unit apartment complex at 1031 N. King Charles Road across from Lions Park. There will be studios, one- and two-bedroom units.

The residential units will be spread among three 3-story buildings. Interior features include granite countertops and stand-up glass showers. Studios will be around 485 square feet and will rent for $1,350 a month. One-bedroom units will rent for $1,700 a month and be around 800 square feet. Two bedrooms will range from $2,200 to $2,450 a month and have a square footage between 1,058 to 1,374.

Community amenities will be a clubhouse, swimming pool with sundeck, pavilion, yoga and fitness center, billiard room, clubroom with cooking demonstration area and business lounge.

Taft Development Principal Thomas F. Taft Jr. said the company anticipates starting construction in April with leasing beginning in late 2023 and move-in by March 2024.The project will cost $45 million and is about 65 percent financed by United Community Bank. The remaining cost will be self-funded.

The project will sit on seven acres and require demolition of a current commercial building. Taft acquired the site in March 2020 for $3.75 million. The property has an assessed value of $3.66 million.

Taft Development Group has been active in the Triangle and surrounding areas. It is behind Spinning Mill Lofts, a255-unit project in downtown Clayton. Last year, the company submitted site plans for Cabarrus and Dawson Residences, a 12-story building with 261 units in Downtown Raleigh.

Taft Development Group is part of Taft Family Ventures. The company develops residential, commercial, and industrial real estate. Taft and its affiliates have 630 units under construction and 440 in the development pipeline in the Triangle.

See the full article at The Triangle Business Journal