Luxury Tower in Heart of Downtown Offers Residents High-Rise Living, Market-Leading Rooftop Amenity Deck In Central Business District
Raleigh (May 26, 2015) – SkyHouse Raleigh held a grand opening last week, giving young professionals drawn to Raleigh’s urban core an opportunity to experience the first luxury apartment high-rise in downtown.
In addition to the 320 apartment homes, 5,400 square-feet of street level retail and key location on the southwest corner of Martin and Blount streets, the 23-story SkyHouse Raleigh has a market-leading amenity deck on the top floor. The signature “SkyHouse,” where the grand opening party was held, has a swimming pool, outdoor lounges, fireplaces and grilling stations. It also features a club room with pool table, flat screen TVs and full-service kitchen as well as a fitness center and a yoga room all with unparalleled views of the City of Oaks.
“Our team did an outstanding job delivering SkyHouse Raleigh,” said Jim Borders, President and CEO, Novare Group. “This community is tied into the fabric of downtown Raleigh with excellent restaurants, night spots and unique retailers just outside the front door and the central business district less than a block away.”
SkyHouse Raleigh residential units are one, two and three bedrooms with high-end finishes, floor-to-ceiling glass and private balconies. The project is geared toward Generation Y professionals who want to live in the city close to business centers, night life, culture, and public transportation. Part of the Edison Project, a mixed use real estate development that will feature office, retail and residential development in downtown Raleigh, it has been built to minimize the impact on the environment while maximizing appeal to its residents.
SkyHouse® Raleigh is one of 14 SkyHouse-branded apartment communities in the United States including projects in Charlotte, Atlanta, Tampa, Orlando, Dallas, Houston, Austin and Denver. The program represents more than $1 billion in new development since its inception in 2012. The experienced development team, led by Jim Borders and Novare Group, includes co-sponsor Batson-Cook Development Company, general contractor Batson-Cook Construction, and architectural firm Smallwood, Reynolds, Stewart, Stewart.
BBVA/Compass Bank provided construction financing for the project, and NGI Investments, LLC, led by Borders, and Batson-Cook Development Company provided equity. Edison Land LLC is the land owner and local development partner.
About Novare Group
Novare Group is a real estate development and investment company headquartered in Atlanta, Georgia, consisting of several investment and operating companies, including Novare Group Holdings, LLC, NGI Investments, LLC, Novare Events, LLC, HomeOwners Advantage, LLC, and TWELVE Hotels and Residences, LLC. Since 1995, Novare Group has developed over 11,000 high-rise residences in 35 buildings in the United States. Learn more by visiting www.novaregroup.com.
About Batson-Cook Development Co.
Founded in 1963, Batson-Cook Development Company is a wholly owned subsidiary of Kajima USA. It is a fully integrated real estate organization providing development and capital solutions primarily through partnerships on commercial real estate projects in the Southeastern United States. Based in Atlanta, Georgia Batson-Cook Development Company offers a wide variety of real estate services from development and construction, to equity and credit enhancements, to brokerage and property management. Learn more by visiting www.batsoncookdev.com.
About Edison Land LLC
Edison Land LLC is a privately held commercial real estate investment company with its offices in Raleigh-Durham, North Carolina. Gregg Sandreuter is the Managing Member of the company and is the master developer for the Edison block.