RALEIGH, NC. (May 31, 2024) – TWG (www.twgdev.com), a real estate development company specializing in commercial, market rate, affordable and senior housing developments, today announces the construction of Departure Flats, a new $46 million, market rate apartment community coming to Raleigh, North Carolina.
Located at 5329 Departure Drive, Raleigh, NC. Departure Flats will be a 170-unit community across a pair of 5-story buildings, situated in the ever-growing Northeast submarket of Raleigh. The project location provides easy access to the 540-beltline, lifestyle amenities, restaurants, parks, and offers quality suburban living with convenient access to downtown Raleigh, North Hills, and the best of the Research Triangle.
Departure Flats will offer residents amenities including a pool, pavilion, outdoor gas grills, dog park, fitness center, bicycle storage rooms, a resident lounge, and co-working space. Units in Departure Flats will offer the same Class-A look and feel that is standard across TWG communities.
“We are extremely excited to enter the Raleigh market as this will be TWG’s first project in the area. Raleigh has a dynamic economy and is positioned for long-term success with nearby universities and various employment drivers. We are grateful for the opportunity to offer and provide the residents of Raleigh high-quality housing at Departure Flats.” says Grant Deaton, Development Director. Departure Flats was made possible with the support of Stearns Bank and Larson Capital Management. Construction for the community begins soon and the project is expected to be complete by Spring of 2026. To learn more about TWG and its properties, please visit www.twgdev.com or follow them on LinkedIn, Facebook, Twitter and Instagram.
About TWG Founded in 2007 and headquartered in Indianapolis, TWG is a fully integrated real estate development company specializing in commercial, market rate, affordable and senior housing developments across the country. With a focus on development, financing, design, construction and management, TWG has transacted over $2 billion in development costs and over 10,000 units nationwide. Committed to building strong foundations with its team, equity partners and the communities it serves, TWG knows that Together, We Grow. Learn more at www.twgdev.com.