Oak Ridge Development Site

Capstone is pleased to present the Oak Ridge Development Site, offering a premier investment opportunity, underscored by several key factors. The site benefits from in-place R-4 High-Density Residential zoning, allowing for development without requiring additional approvals along with an approved PILOT and Utilities at the site. This 32.33-acre site is positioned in the heart of Oak Ridge where new construction rents average $1,792 per unit with strong rent growth. The local submarket is characterized by an extremely well-educated workforce, robust job market, and high household incomes, driven by major government-backed employers like Oak Ridge National Laboratory, Y-12 National Security Complex, and Oak Ridge Associated Universities. Seller is open to an outright sale or joint venture which could include a land contribution or a multitude of other options.

Investment Highlights:

In-Place Multifamily Zoning

Existing Apartment Fundamentals

Sophisticated Renter Demographics

Proximity to Class A Retail, Demand Drivers, and Major Employers

PILOT and Utility Availability (all on-site)