News

Blue Ridge Expanding Existing Footprint; Moving Forward with Multiple Construction Projects

High Point, NC. (January 5, 2016) — Blue Ridge Companies, a High Point, NC-based real estate development and management company, has announced plans to break ground on expansions to three different communities in their portfolio. Additional three-story, garden-styled residential buildings will be added to; Reserve at Glenburnie in New Bern, NC, Reserve at Park West in Spartanburg, SC, and Millcrest Park in Fort Mill, SC.

The three communities were originally built in the mid-2000’s and share a similar amenities package. Improvements in the newest phases include 9 ft. ceilings, bathrooms with cultured marble vanity tops and sinks, upscale floor plans amply sized up tp 1,300 square feet, upgraded kitchens with stainless steel, double sinks and designer espresso finished cabinetry, faux granite countertops and large capacity, energy-efficient appliances. Select units will offer faux wood-grained flooring and silver metallic appliances.

“As we continue to create sought after communities in new markets, we’ve experienced strong, positive growth in our existing assets. Based off of our current performance and confidence in the growth potential that we have in these markets, we’ve decided to expand these three high performing communities. Once complete, we’ll have added 108 more units at Millcrest Park and 144 new units at Reserve at Park West. ”says Susan Passmore, Executive Vice President for Blue Ridge Companies. “The Reserve at Glenburnie will add 120 new units, to bring our portfolio to 11,603 units under management.” adds Passmore.

Blue Ride Companies’ focus is on identifying multi-family opportunities and developing communities that offer convenient, well-located properties in the local community. The newest additions will increase the number of the communities’ most demanded floor plans that are available for renters in each of their respective markets.

“We’ve been very pleased with the performance in the original phase of these properties. We’re glad we can continue to invest further into these communities and create new homes for residents located in desirable, growing cities and towns.” The company delivered the first Phase II units in New Bern prior to the end of 2015 and anticipates delivery in Spartanburg and Fort Mill sometime during the second quarter of 2016.