Origin Investments, Spandrel Development Partners to Build $87M Raleigh Multifam
Origin Investments and Spandrel Development Partners have formed a joint venture to construct the $87.4-million Mira Raleigh, a 288-unit mid-rise multifamily located at southern border of Raleigh, NC’s CBD
The seven-story, podium-style development is a qualified opportunity zone investment that will also include 2,600 square feet of ground floor shared office space. Amenities include a /lounge, club room with chef’s kitchen and bar area, sky lounge with unobstructed skyline views, commercial grade coworking facility and fitness center.
The new development, on approximately 2.0 acres, represents the first phase of larger City Gateway mixed-use project that ultimately will feature Class A office, retail, hospitality and urban greenspace.
Mira Raleigh marks the second development partnership for Origin Investments (a private real estate manager) and Spandrel Development Partners (a equity real estate development firm). In 2017 the partnership, along with Aspen Heights Partners and Northwestern Mutual, developed the 511 Meeting multifamily in Charleston, SC.