Mar
20

New Apartments Planned for Verdae

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apartments-for-rentGlenmont Capital Management, LLC, a New York-based real estate investment firm led by Managing Principal Lawrence A. Kestin, and Arlington Properties, Inc., a Birmingham-based real estate development firm led by Jim Dixon, announced the acquisition of a 19-acre site in the Verdae master-planned community of Greenville, South Carolina, for the development of Verdae III, a 276-unit Class-A apartment community. The planned development follows the success of Glenmont and Arlington’s development of Velo Verdae, a 262-unit Class A apartment immediately adjacent to the new site which was recently sold.

The property acquired in Verdae offers unparalleled convenience and is situated along two major roads, less than five miles from downtown Greenville. Verdae III will offer unit sizes, features, and amenities not feasible in Downtown Greenville, while maintaining a significant rent discount to Class-A product Downtown. Furthermore, the popular Swamp Rabbit Trail multimodal path is being extended and will run immediately adjacent to Verdae III, benefitting residents with direct access.

Construction will begin in Q1 2019, with move-ins scheduled to begin 12 months thereafter. Verdae III will represent the thirteenth multifamily project by Glenmont and Arlington since 2002.

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    Categories : Greenville

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