RALEIGH, NC - A new upscale, off-campus student housing community is coming to North Carolina State University and will open in Summer 2015. Kane Realty Corporation, a Raleigh-based development and management company focused on mixed-use properties, began construction on the $78 million project this past spring. Stanhope will continue the revitalization of Hillsborough Street with 822 beds and 25,000 square feet of retail space.
Located just steps from NC State University and less than one mile from Meredith College, Stanhope is situated at 3001 Hillsborough Street. Named to honor the historic Stanhope neighborhood, the mixed-use community will offer students a wide range of amenities, including an oasis saltwater pool with splash deck, outdoor courtyards with televisions, fire pits, grills and open green space, integral parking deck, hi-tech cyber lounge, study lounges on each floor, art studio, two-story game room, fitness center with cardio mezzanine and two tanning rooms, ground level retail, restaurants and services and more.
Uniquely, the community is heavily focused on green living, offering electronic car charging stations, recycling rooms on every floor, a bicycle storage room, energy efficient windows, sustainable landscaping design with organic fertilizer and LED lighting used throughout the grounds and more.
“We identified an opportunity to create a truly unmatched type of student living that focused on not only amazing amenities and convenience, but also the importance of being environmentally-friendly,” said John Kane, CEO of Kane Realty Corporation. “We are confident that Stanhope will be a one-of-a-kind living destination for University students.”
Residents will be able to choose from a variety of spacious floor plans including studio, one-, two-, three- and four-bedroom options. The individual apartments will come fully furnished and will include televisions with cable and HBO, Energy Star appliances, granite countertops, wood plank style flooring, smart key unit entry system, washer and dryer and more. The entire property is also equipped with high-speed Wi-Fi, and will employ an on-site maintenance and management staff.
Kane Realty Corporation has hired Asset Campus Housing (ACH), the largest management and privately held student housing company in the U.S., to manage the residential community.
“We are very excited to partner with Kane Realty Corporation to manage the successful lease-up of Stanhope,” said Joe Goodwin, senior vice president of marketing for Asset Campus Housing. “We look forward to helping bring this community to life in Raleigh and to foster a fun and interactive environment that promotes success for every resident.”
Kane Realty Corporation will lease and manage the retail space. The project team also includes Little Diversified Architectural Consulting and Clancy & Theys General Contractors. Financing is provided by Wells Fargo Bank and Federal Capital Partners.