Asheville, NC—Capstone Companies has assembled the sale of a development project in Asheville, NC. The 16.7-acre, fully entitled site is located at 2177 Brevard Road and is slated for 319 units. The buyer is URS Capital (Managing Partner Chris Urso) partnered with PREG-Advantis and their construction arm; BCC Construction, Inc., a Florida based national Development and construction team led by Richard Zahn, Michele Zahn, Navish Chawla, and Willie Frias.
Capstone Senior Advisor, Austin Heithcock, facilitated the off-market sale to URS Capital on behalf of the previous landowner, Advantis, alongside Capstone Partner, Adam Klenk, and Investment Sales Advisors, Jordan Arand and Josh White.
The property, currently named Creekside Luxury Apartments, will be a combination of surface park and “Wrap” product consisting of flats and “Big House” units. The community will also feature a premier amenity package. Ideally located in the highly sought after, high barrier-to-entry market of Asheville, the site benefits from its proximity to major employers, recreation, and retail. Construction is set to be completed at the end of 2025.
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