RALEIGH, N.C. — Oppidan Investment Co. has opened two LIHTC affordable housing communities in Raleigh: The Pines at Peach and Birch & Branch. Development costs of the two properties totaled $83 million.
Located at 3470 Overstory Circle, Birch & Branch is a $49 million development featuring 180 one-, two- and three-bedroom apartments for families earning between 30 and 70 percent of the area median income (AMI). Birch & Branch was designed by Moore Hocutt, engineered by VHB, constructed by Mills Construction and is managed by Excel Property Management.
Pines at Peach is located at 3000 Stone Grove Road in South Raleigh, about 6.5 miles southwest of Birch & Branch. This $34 million development includes 119 one-, two- and three-bedroom units reserved for low-income renters earning no more than 30 to 60 percent of AMI. The project was designed by Cline Design, civil engineering by BGE, and KMW Builders led construction. Excel Property Management also serves as the property manager. Minnesota-based Oppidan also is currently developing its third affordable housing community in Raleigh, Barton Oaks, located at 13120 Strickland Road.