Kane Realty Corporation To Introduce $78 Million Mixed-Use Community Near NC State Next Year

by Scott Reid

Raleigh, N.C. — Kane Realty Corporation, a Raleigh, N.C.-based development and management company focused on mixed-use properties, has begun construction on Stanhope Center.

a mixed-use off-campus student housing community near North Carolina State University that will open in summer 2015.

Kane broke ground on the  $78 million project this spring. When complete, the community will offer 822 beds and 25,000 square feet of retail space. 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 was provided by Wells Fargo Bank and Federal Capital Partners. Asset Campus Housing will manage the student housing.

Stanhope is named for the historic Stanhope neighborhood. The community offer amenities such as an oasis saltwater pool with splash deck, outdoor courtyards with televisions, fire pits, grills and open green space, an integrated 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.

The community is also 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.

“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,” says John Kane, CEO of Kane Realty Corporation.

Residents will be able to choose from studio, one-, two-, three- and four-bedroom floor-plan 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.

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