October 11, 2017
The Edison Lofts Apartments Captures J.W. Willie York Award
The Edison Lofts, a 223-unit apartment community located at 131 E. Davie Street in Raleigh, captured a 2017 J.W. Willie Award sponsored by the Triangle Chapter of the Urban Land Institute. The seven-story mid-rise apartment complex, which was acquired by Continental Realty Corporation, a Baltimore-based real estate investment and management company this spring, was recognized with an Excellence Award.
The annual awards recognize individuals and teams who have made outstanding contributions to the creation and continued vitality of thriving communities in the Triangle Region. These contributions take the form of real estate development, professional services and other work as reflected in the responsible use of land. Selection criteria include innovation and design; practices that promote environmental sustainability or energy reduction; the social impact on a community; as well as projects that improve the health of the community.
Constructed in 2016 by Cleveland, OH-based developer NRP Group, The Edison Lofts is situated in the heart of downtown Raleigh and is within walking distance to the city’s central business district, as well as numerous dining and entertainment options including City Market and Moore Square Park. The community offers studio, one and two bedroom floor plans featuring open space designs with balconies. Standard features include granite countertops, stainless steel appliances, nine foot and loft-style ceilings, European lighting design and wood plank flooring.
The community amenity package includes a garden courtyard, resort-style swimming pool, outdoor kitchen and grilling area, dog park, state-of-the-art fitness center and clubroom with a resident lounge and billiards room.
“ULI is known for its philosophy of making cities a better place to live and work, so we are thrilled for The Edison Lofts to be recognized for this prestigious honor,” stated David Donato, Senior Vice President at CEO of Continental Realty Corporation. “When evaluating this asset for acquisition, we considered the project best-in-class asset with its offering of luxury living space and high-end amenities in the center of downtown. This award further validates our decision. All the credit goes to NRP, of course, the developer of the project, from whom we bought it earlier this year. We are so glad to do business with a great group like NRP, and so proud to be the owners of this award-winning asset.”
The Edison Lofts are located within close proximity to Highway 70, providing quick connections via Route 64 and Interstate 440 to Raleigh-Durham International Airport, numerous educational institutions and business communities throughout the Triangle area. Major employers in the immediate area include Red Hat, Duke Energy, Wells Fargo, Deloitte, KPMG and Citrix.
Continental Realty Corporation (CRC), headquartered in Baltimore and founded in 1960, is a full-service commercial real estate investment and management company. The privately-owned firm owns and manages a diversified portfolio of retail centers consisting of over 3.5 million square feet of space, as well as apartment communities featuring nearly 10,000 apartment homes. Positioned throughout the Mid-Atlantic and Southeast regions, the value of the portfolio exceeds $1.5 billion.