A 240-unit multifamily development will be build in the Carolina Colours subdivision of New Bern, following the need for rental housing in the area.
The Hudson at Carolina Colours will answer an increasing demand for contemporary rental housing in the market, the company announced in a news release.
The project will rise on a parcel of land within the Carolina Colours single-family home community on what is being called “arguably the best available site in the area for multifamily development,” the developer said.
The Hudson at Carolina Colours will be located across from the Carolina Colours Towne Centre shopping center within the Carolina Colours golfing community. The apartments, as well as the 1,800-acre residential neighborhood, are proximate to the dining, retail and green spaces of historic downtown New Bern.
The site is also minutes from Marine Corps Air Station Cherry Point.
Bolstered by growth at Cherry Point, which recently broke ground on a $150 million expansion project, and the CarolinaEast Health System, which is undergoing the largest expansion in its 53-year history, with plans for an expanded and enhanced emergency department and a new women and children’s health pavilion, the need for rental housing in and around New Bern, will continue to grow, the company said.
Hudson Capital Properties (HCP) is a multifamily real estate investment and development firm focused on new development and value-added acquisitions in Southeastern U.S. markets.
It will develop 26 acres within Carolina Colours. Comprising 10 garden-style buildings with 264,000 rentable square feet as well as a resort-style clubhouse, the community will feature 240 one-, two- and three-bedroom rental homes in its first phase of development.
Swain & Associates, a North Carolina commercial development firm, will provide the land in a joint venture with HCP to develop the rental community.
“The Hudson at Carolina Colours is poised to set a new standard for multifamily development in New Bern and the surrounding area,” said Robert Cohen II, chief investment officer at HCP. “Notable job and population growth combined with the expansion of the nearby US Navy Marine Corp Air Station Cherry Point have created a strong appetite for highly amenitized rental communities. Our ability to bring contemporary rental housing to underserved markets will make The Hudson at Carolina Colours an attractive option for residents seeking an upscale rental experience not currently available in the region.”
The Hudson at Carolina Colours will offer a variety of floor plans including one-bedroom/one-bath, two-bedroom/two-bath and three-bedroom/two-bath options across 10 three-story garden-style buildings.
Plans for a well-appointed clubhouse include a fitness center, work stations and lounge and will open to resort style pool featuring a deck with grilling stations and ample seating. The site plans also allow for future development of a Phase II component including five additional buildings bordering Waterscape Way and allows for ground-level retail.
Founded in 2009, Hudson Capital Properties (HCP) is a multifamily real estate investment and development company. Through its affiliated companies, HCP develops, acquires, owns, and operates a portfolio of multifamily properties in the Southeastern United States that currently comprises over 6,500 units, and has close to 400 units under development in the Carolinas.