Leasing Underway at Crosland’s Cosgrove Hill Apartment Community

Jan. 28, 2009 - PRLog -- Crosland LLC, one of the Triangle’s leading real estate companies, has started leasing at its Cosgrove Hill apartment community situated minutes away from I-40, UNC & Duke Universities and UNC Hospitals.

Located in desirable Chapel Hill, the 129-unit community offers one- and two-bedroom flats and 3-bedroom townhomes. Unit sizes will range from 900 to 2,000 square feet with current rates ranging from $960 to $1,940 per month. Scheduled for completion this winter, Cosgrove Hill is the newest rental community in Chapel Hill of its scale in nearly a decade.

This premier community offers craftsman-style building details with tree-lined streets and landscaped courtyards with custom details such as an outdoor fireplace, central fountain and a butterfly garden. Residents will enjoy granite kitchen countertops, hardwoods and ceramic tile, upgraded cabinetry and garden tubs. Individual apartments will be finished with Energy Star appliances, Low-E energy efficient windows, upgraded HVAC systems and high performance double wall and floor insulation. Additional community amenities include a central clubhouse and pool, state-of-the-art fitness center, playground, dog park and recycling center.

“At Crosland, we always concentrate on designing and establishing a community that fits our residents’ individual needs,” said David Ravin, Crosland’s residential division president. “At Cosgrove, we will offer larger townhomes with private garages, direct entry flats, and units serviced with elevators.”

Ravin is also a firm believer in Crosland’s commitment to sustainable land use and development. Cosgrove was master planned for residential, office and retail upon a previously developed site with six existing homes relocated for reuse as opposed to demolition. Future plans to add retail to the mixed-use community with residential and office uses will enhance the pedestrian-friendly environment. In addition, newly constructed Cosgrove Avenue is programmed for mass transit, further improving circulation in the area.

Cosgrove Hill is one of several Crosland apartment communities in Chapel Hill. Adjacent is Dobbins Hill, an 87-unit affordable housing community built in 1994 with phase II additions recently completed. Chapel Hill Watch on Eubanks Road will consist of 120 townhomes and Chapel Hill North off Airport Road will provide 123 units for residents. Both of these projects are scheduled for completion by early 2010.

Crosland employs 85 people in the Raleigh-Durham market and currently has more than 1,400 multi-family units in the development pipeline, 750,000 square feet of retail space and six single-family communities that include 3,000 residential lots purchased or under contract. Crosland currently manages 10 apartment communities in the Triangle area including Dobbins Hill, The Apartments at Meadowmont, The Apartments at Oberlin Court, Regency Place, Litchford Park, North Forest, Weston Lakeside, Southpoint Village, Cosgrove Hill and The Residences at the Arboretum. For more information, visit croslandraleigh.com.

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Founded in 1937, Crosland is one of the most prominent diversified real estate companies in the Southeast and is recognized as a leading community builder. Its expertise in retail, multifamily, office, land development and general contracting enables it to be an innovator in multi- and mixed-use development.

Headquartered in Charlotte, N.C., Crosland has offices in Raleigh, Orlando, Tampa and Nashville, and develops, builds and manages properties in the Carolinas, Florida, Kentucky, New Hampshire, Tennessee and Virginia. The privately held company’s portfolio and current projects have a market value exceeding $2.0 billion. For more detail, visit crosland.com.