14 Oct SkyHouse Raleigh
BCDC and Novare Group have partnered on eighteen high-rise multifamily development projects since 2010 throughout key markets in the Southeast, Texas and Colorado. This highly successful and award-winning multifamily program, denominated “Skyhouse” for the location of the amenities on the top floor, was centered around the principles of site selection, ultra-efficiencies in design and constructability, a strong focus on the resident experience and quality leasing and property management customer service. Although possessing site specific design and unit count, all the SkyHouse projects contained many common design characteristics: structured, secured parking, floor to ceiling glass in all residential units and penthouse club room, fitness center and outdoor top floor pool deck. The capitalization structure was bespoke for each project, but many times the Sponsor aligned itself with an institutional partner with a desired long-term hold strategy; in others, BCDC and Novare successfully marketed and sold the project on the market.
Co-Sponsors: BCDC / Novare Group
Lender: Compass Bank
Architect: Smallwood, Reynolds, Stewart, Stewart & Associates Inc.
General Contractor: Batson-Cook Construction Co.