Apr 23, 2020
A longtime Triangle developer has plans to bring hundreds of new apartments to north Raleigh with a focus on affordability.
On Wednesday, Raleigh-based Dewitt Carolinas announced plans for the Litchford 315, a 240-unit community featuring 10 multifamily buildings and amenities such as a dog park, clubhouse and pool.
“Raleigh, like so many cities today, needs housing to accommodate our teachers, public servants, restaurant and retail workers, and others who we all agree are essential to our vibrant community,” says Dewitt Carolinas CEO Todd Saieed. “Dewitt has deep roots in Raleigh, and we want to help our hometown continue to grow and thrive by combining our capacities in luxury housing with a more affordable development plan.”
The project is situated on 14 acres at 6132 Johnsdale Road, near Millbrook High School and west of the Triangle Town Center.
Rents at Litchford 315 will start under $1,000 a month. The apartments will feature one-, two- and three-bedroom units.
To achieve its affordability goals, Dewitt is using the HUD 221(d)(4) program, which ensures financing to reasonably priced multifamily housing developments.
Dewitt plans to complete the first phase of the project by mid-2021 and hopes to have the community fully completed by early 2022.
“We are grateful that our Dewitt team has been able to keep Litchford 315 moving forward despite the challenges posed by the current pandemic situation,” Saieed says. “As our local economy rebounds in the coming months, we know that having a supply of quality housing available at an accessible price point will be crucial to Raleigh’s recovery.”
Planworx Architecture is the architect for Litchford 315, and Harold K. Jordan & Co. is the general contractor. Advanced Civil Design is the civil engineer, and Drucker + Falk will handle property management and leasing. Each of these companies is Triangle-based.
Dewitt bought the 14 acres site last year for $3.25 million with plans already in the works for the the apartments.
The company is a longtime Raleigh real estate investment and development firm with a growing number of projects throughout the region.
Last year, Dewitt unveiled its designs for Midtown Exchange – a massive $1 billion mixed-use project to be situated on 40 acres in midtown Raleigh. Upon completion, the project will feature 915,000 square feet of commercial space, 1,575 residential units – including multifamily units and senior living – and 300 hotel rooms.