RALEIGH, NC - Alliance Residential Company, one of the largest multifamily developers in the nation, has closed on 15.67 acres located at 4100 Buffaloe Road in Raleigh, North Carolina, for the development of Prose New Hope. The 344-unit apartment community is Alliance Residential Company’s first Prose-branded property in Raleigh, the company’s new housing concept focused on building attainable homes near high growth employment corridors. The first residents will be welcomed in early 2023.
“Alliance is committed to expanding our portfolio of well-appointed communities across the Triangle, so we are thrilled to bring our first Prose community to this rapidly growing area with Prose New Hope,” said Donald Santos, managing director for Alliance Residential Company. “With easy access to major employers, entertainment, shopping, and restaurants in downtown Raleigh by jumping on The Beltline, Prose New Hope is optimally located for residents to enjoy the very best of what Raleigh has to offer.”
The 344-unit Prose New Hope, located across the street from a new Lidl grocery store for easy shopping convenience, will have one- and two-bedroom apartments averaging a generous 1,012 square feet across three and four story buildings. The residences will feature granite countertops, shaker style cabinets, stainless steel appliances, and vinyl plank flooring.
Community amenities will include a resort-style pool, clubhouse, fitness center, business center and dog park.
Located near major employers like Wake Technical Community College's northern campus and large retail centers such as Triangle Town Center, as well as major arterials and interstates including Highway 401, I-440 and I-540, the property is within a 20-minute drive to downtown Raleigh and major points of interest along The Beltline and outer loop of the city.
About Prose: Prose is the nation’s first multifamily residential concept composed of entry-level Class A homes in rapidly expanding job corridors and lighter density communities. Dedicated to professionals seeking the convenience of residing close to major new employment centers, Prose tells the story of how sophistication meets quality of life and value. Prose is the newest brand from Alliance Residential Company, one of the largest and most active rental residential real estate developers in the United States. For more information, visit www.allresco.com