LELAND, NC— Capstone Land Sales announces the $5.58 million sale of a 22.50-acre multi-family development site within the Westgate community of Leland. The buyer, Atlanta-based Hathaway Development, will break ground later this year on Exchange at Westgate: a 312-unit luxury apartment community with best-in-class amenities and picturesque views of Jackeys Creek.
“Hathaway is excited to be entering the thriving coastal community of Leland,” said Daniel Hathaway. “The abundance of commercial activity, soaring population growth, and proximity to Downtown Wilmington drew us to this location. There is demand in the submarket for a true Class A, market-rate rental community with best-in-class amenities and luxury apartment finishes.”
The Capstone brokerage team was led by Caleb Troop and Eric Liebich.
“The demand for quality housing in Leland has not slowed down since the pandemic hit,” Troop said. “If anything, the pandemic has led to the exponential growth and desirability of thoughtful communities like Westgate, where residents benefit from incredible views and walkability to the services they need.”
“Exchange at Westgate further solidifies the Hathaway team’s proven track record across the Carolinas and will provide ideal rental options to future residents in an area experiencing explosive net migration and population growth,” added Liebich.
Exchange at Westgate will be part of the greater 550-acre Westgate community, which is comprised of retail & dining, apartment communities, and single-family homes, as well as the 146-acre Westgate Nature Park.