New apartment communities are bringing so-called ‘workforce housing’ to a rapidly growing corridor in northeast Raleigh.
Alliance Residential Company, a national multifamily development company, has opened a 344-unit mixed-use facility, Alliance Residential. A New Hope in Prose Located at 4100 Buffalo Road.
Located on approximately 16 acres on the corner of Buffalo and North New Hope streets, across from the new Riddle Grocery Store.
The community rents 1 and 2 bedroom units averaging 1,012 square feet across three and four story buildings. Rentals start at $1,395/month.
This is the company’s first Prose branded community in Raleigh. Launched in 2018, the line is marketed as low-cost “workers’ housing,” targeting middle-income renters such as teachers and firefighters.
Facilities include a club room, swimming pool, fitness center, business center and dog run.
“Many years of research and development have resulted in a cost-effective product,” the company said on its website.
Last November, the Alliance 335 luxury apartments Accessible via the exclusive Broadstone Line in Raleigh’s East Midtown area.Therefore, the rental fee $1,350 to $2,480 for studios For a 3 bedroom apartment.
In contrast, the company’s Plows series offers rents “up to 20% lower than comparable apartments,” the company said.
rent skyrocketed as much as 50% Last year it was part of the triangle. Prices appear to be normalizing, but remain high. Many renters are still struggling.
Citywide median rent is currently $1,318 for a one-bedroom apartment and $1,499 for a two-bedroom apartment, according to Apartment List. Rent report for July. The median rent for all bedroom sizes is $1,502.
