PDR Closes on Land for "Phillips Swift Creek"CARY, N.C. /PRNewswire/ -- Phillips Development & Realty, LLC (PDR) closed on 13.2 acres for its Phillips Swift Creek apartment project in Cary, N.C., a market with high barriers to entry.
Headquartered in Tampa, Fla., PDR solidified the property in November 2007, and anticipates construction of the $20 million+, garden-style development to begin in the third quarter of 2008.
Close to downtown Cary on the Northeast corner of Old Apex Rd. and West Chatham St., the project marks another successful penetration into a challenging area to acquire multifamily entitlement.
"Phillips Swift Creek's 2008 construction start contributes to our burgeoning project pipeline," said PDR Managing Director Donald Phillips (top right photo).
"We made progress in Cary by maintaining PDR's core disciplines, including site selection excellence and strong partner relationships. We are pleased to add another new development to our portfolio in a prosperous location not many have successfully penetrated."
For more information, visit http://www.phillipsdevelopment.com/.
CONTACT:
Allison Fogt, +1-850-878-5531, Ext. 223, afogt@Kidd.com, forPhillips Development & Realty, LLC
Web site: http://www.phillipsdevelopment.com/
No comments:
Post a Comment