Peerless Development is pursuing the construction of a 713-bed student housing project on Crest Road directly behind North Carolina State University’s South Campus.
The Triangle Business Journal reports that the site plans show a 7-story mixed-use building — the height would range from 5 to 7 stories due to grade changes on the site. There will be 259 units in total, with 50 one-bedroom units, 80 two-bedroom units, 23 three-bedroom units, 96 four-bedroom units, and 10 five-bedroom units. The project will be two levels of underground parking with 294 parking spaces. The only amenity detailed in the plans is a swimming pool. Peerless expects to add a retail component to the project.
The site is 2.57 acres at 1523 Crest Road, the current location of an apartment complex (shown), which must be razed before construction begins.
Peerless Development specializes in multifamily, student housing and industrial development and acquisition.
The post Peerless Building 259-Unit NCSU Student Housing Development appeared first on Connect CRE.
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