$150M Apartment/Retail Project Moves Forward Near Raleigh

KDM Development has received rezoning approval from the Town of Garner, just south of Raleigh to build a mix of apartments and retail. Swift Creek will have 613 multifamily units and 22,500 square feet of retail space on Fayetteville Road between ParTee Shack and Garner Country Club. The Raleigh Business Journal reports KDM will break ground on the $150 million project by the end of the year. KDM expects the project to take three years to complete.

There will be one to three-bedroom units spread across 12 buildings that will each be 4-stories. The average apartment size will be around 1,000 square feet. Rents are expected to range from about $1,500 for the smallest one-bedroom units to $2,500 for the larger three-bedroom units. In addition to the apartments, there will be 18 carriage units. Swift Creek will have a swimming pool, fitness center. and clubhouse with coworking spaces. 

The retail space will be split between a standalone restaurant space and uses such as medical or retail.