WILMINGTON, N.C. – Capstone Communities and the Wilmington Chamber of Commerce celebrated the opening of The Cottages at Riverlights, a low-density multifamily development within Riverlights, the 1,400-acre master-planned community managed by Brookfield Properties. Situated on approximately 21 acres at the southern entrance of Riverlights, the 279-unit development is the first build-for-rent project in Wilmington.
“Innovative housing concepts like The Cottages at Riverlights are crucial to continue driving growth and defining tomorrow for our community,” said Josh Hallingse, VP, small business retention & expansion for the Wilmington Chamber of Commerce. “As the first of its kind in our area, The Cottages will pave the way to Wilmington’s economic development by adding more housing options.”
With neighborhood amenities including a 24-hour clubhouse, a state-of-the-art fitness center, resort-style pool, pavilions and grill stations, sidewalks, a dog park and other pedestrian-friendly amenities, The Cottages at Riverlights will create a true sense of place for its residents.
“Our team is excited to bring this unique housing option to Wilmington renters that will build a sense of community you don’t typically find in a traditional apartment setting,” said Jim Beatty, vice president – development for Capstone Communities. “Build-for-rent communities are perfect for young professionals, new residents and empty-nesters who may be looking to downsize because they provide residents the space and privacy of a home with the amenities and convenience of a traditional apartment.”
The Cottages offers a mix of one, two and three-bedroom cottages, each with its own private fenced yard, as well as one-bedroom lofts and carriage units. Homes range from 650 to 1,350 square feet and include nine-to-12-foot ceilings, wood-grain flooring, in-unit washers and dryers, a smart home technology package, 24/7 on-call maintenance and optional enclosed garage parking.
“The Cottages at Riverlights complements and contributes to the broad range of homes and lifestyles that the Riverlights’ master plan promises,” said Riverlights Marketing Director Michela Hochschild, adding, “The Cottages also populates 7Bridge at the southern entrance to Riverlights which is designed to be a pedestrian-friendly mixed-use village with commercial, service-oriented and retail establishments making this a super convenient location for residents.”
CBI Construction Services, Capstone’s in-house construction entity, is the general contractor for The Cottages at Riverlights, and Capstone Properties, Capstone’s in-house management division, is the leasing and property management team. For more information on The Cottages at Riverlights, visit www.thecottagesatriverlights.com.
About Capstone Communities
Capstone Communities is an Alabama-based real estate firm specializing in development, management and construction of student and multifamily housing. In 2017, Capstone expanded to the multifamily sector at the forefront of the build-for-rent movement with the introduction of its conventional cottage-style development program.
Today, with a mission to be an innovative company dedicated to serving people, building community and delivering exceptional experiences that stand the test of time, Capstone’s growing project footprint now stretches across the Southeast with build-for-rent communities under construction in Alabama, Georgia, Florida, South Carolina and North Carolina.
About Riverlights
Riverlights is an approximately 1,400-acre planned mixed-use community located in Wilmington, N.C. Riverlights features a variety of residential home sites, commercial space, eight public parks, a beautiful 38-acre freshwater lake, community gathering spaces, and views and access to the Cape Fear River. Upon completion, Riverlights is planned to have approximately 3,000 single family, age-qualified, multifamily, townhomes and custom waterfront properties.
Riverlights is owned by a subsidiary of North America Sekisui House, LLC (NASH) and is proudly managed by Brookfield Properties as part of the Newland community’s portfolio. These partners share a deep commitment to sustainable development practices and apply these core values to the vision, planning, and development of their communities. Riverlights is one of more than 20 communities this partnership manages together across the US. For more information, visit riverlightsliving.com.
About Brookfield Properties
Brookfield Properties is a leading global developer and operator of high-quality real estate assets. We are active in nearly all real estate sectors, including office, retail, multifamily, hospitality, and logistics, operating more than 800 properties and over 350 million square feet of real estate in gateway markets on behalf of Brookfield Asset Management, one of the largest asset managers in the world. With a focus on sustainability, a commitment to excellence, and the drive for relentless innovation in the planning, development, and management of buildings and their surroundings, Brookfield Properties is reimagining real estate from the ground up. For more information, visit www.brookfieldproperties.com.
