Residential Real Estate

Real estate developer buys 46.2 acres of land in Fayetteville

By Faith Hatton, posted 1 month ago
Photo provided by: Cushman & Wakefield

New housing options are expected to be coming to the southeast Fayetteville area after real estate development company One Real Estate Investment purchased 46.2 acres of land located at 3680 Elk Rd.

OREI partnered with real estate company Cushman & Wakefield to complete the deal, with Executive Managing Director Alex Phillips and Associate Battle Smith representing OREI in the transaction.

The company is expected to continue to expand their property portfolio in Fayetteville with the purchase.

“It was an honor to work with the buyer One Real Estate Investment to facilitate this transaction for more than 46 acres in Fayetteville. They have exciting plans for the site that include building 360 apartment units which will be a mix of one, two, and three bedrooms,” said Phillips.

OREI is already in the process of constructing The One, a new 264-unit apartment community in Fayetteville expected to open in 2023. That project was announced and commemorated with a groundbreaking ceremony in late August of 2022. The company owns and operates a number of other properties across North Carolina and in Fayetteville including West End and The Summit on 401. They also own The Heritage at Fort Bragg, and Lakehurst apartments located in Spring Lake. 

Ico insights

INSIGHTS

SPONSORS' CONTENT

In The Current Issue

Rentals in demand: The Fayetteville housing market sees a cool down for home buyers, while rental properties remain in demand

Photo provided by GFAAAs the housing market in the Fayetteville Metropolitan Area continues to experience a cool down following COVID-19 supply delays and finally seeing a slowdown in demand after two years, increased interest in affordable rental pr


TechNet Fort Bragg 2023: The biggest expo on Fort Bragg returns for another year

Photo provided by TechNetThe North Carolina Chapter of the Armed Forces Communications and Electronics Association is hosting a local conference Feb. 9 and 10. TechNet Fort Bragg 2023 will take place at the Iron Mike Conference Center, on Fort Bragg.


Cybersecurity - cautious not paranoid: Local IT professional offers advice on keeping your digital data secure

Tima Miroshnichenko/PexelsSecurity is of the utmost importance for creating and operating a successful business and establishing trust among clients. As tax season kicks into full swing, it’s extra important for businesses to take precautions when se