Stiles Breaks Ground on Luxury Residential Community in Wake Forest, NC

Wake Forest, NC and Fort Lauderdale, FL. — July 6, 2022 — Stiles, a leading Southeast-based full service commercial real estate development firm founded in 1951, announced today it has commenced construction on a 232-unit luxury multifamily community at Grove Ninety-Eight, a mixed-use master planned development also featuring a 100,000-square-foot Wegmans, an additional 80,000 square feet of walkable retail, and 395 "for sale" residential units. The project is located in the dynamic and rapidly evolving North Raleigh submarket of Wake Forest, N.C., just east of US-1/Capital Boulevard along Highway 98 at the Ligon Mill Road intersection.

The luxury garden apartment community will feature top-of-market, resort-style indoor and outdoor amenities that cater to young professionals, empty nesters, and families. The community will offer a mix of spacious one-, two- and three-bedroom apartment homes with high-end finishes such as quartz countertops, stainless steel appliances, luxury vinyl plank flooring, solid wood shaker cabinetry, modern fixtures, smart technology, and 1GB Wi-Fi service. First occupancy for residents is expected in late Summer of 2023.

"We are excited to grow our multifamily development footprint into North Raleigh and look forward to bringing a community to the Town of Wake Forest that will provide residents with best-in-class unit finishes and amenities at a level of quality and luxury that Stiles has become known to deliver. In addition to providing convenient access to surrounding employment nodes such as RTP, downtown Raleigh and North Hills, residents will also have thoughtfully designed areas that provide dedicated work-from-home areas," said President of Stiles Residential Group, Jeff McDonough. "Perhaps one of the most unique aspects of this community for residents to enjoy is the walkability and convenience to adjacent dining and retail options that are usually only seen in more urban locations, as well as proximity to Wegmans."

An 8,500-square-foot clubhouse will anchor the amenity base of the community and feature a state-of-the art fitness center, multiple resident lounges and a resident co-working area with private meeting rooms. Outdoor amenities include a resort-style pool, expansive outdoor dining and entertainment areas, beer garden, dog park and spa, fitness lawn, children's playground/tot lot, and detached private garages. JDavis Architects, PLLC is the project architect and Fortune-Johnson Construction is the general contractor.

Stiles Residential Group has a development pipeline that exceeds $1 billion in capitalization with over 900 units currently under construction, including Peabody Union in Nashville, TN and The Ellsworth in Plantation, FL, as well as over 1200 units in predevelopment throughout Florida, North Carolina and Tennessee.