RALEIGH, NC-Woodfield Investments is among the first to re-enter the multifamily development scene in Raleigh-Durham. The developer has broken ground on Woodfield Creekstone, a 256-unit class A garden multifamily community.

Woodfield is betting, in part, on a strategic location for its new multifamily development. The project is located at South Miami Boulevard and Hopson Road, immediately west of the intersection of Interstates 540 and 40, eight minutes from Raleigh-Durham International Airport, 20 minutes from downtown Raleigh and 15 minutes from downtown Durham.

“This property sits immediately adjacent to the Imperial and Keystone office parks and within five minutes of all of the jobs in the Research Triangle Park,” Greg Bonifield, co-founding partner at Woodfield, tells GlobeSt.com. “With this location and with the product we will delivery it makes it as well located as anything proposed.”

When completed, the multifamily property will offer 256 units in 10 three- or four- story buildings. Amenities will include a resort quality pool, clubhouse, landscaped grounds, as well as garage and surface parking on the 15 acre site. Of course, Woodfield won’t be without competition as developers begin to re-enter the multifamily market in the region.

“There are several projects located in Brier Creek and several others within 10 miles of the property that are either started or planned to start this year,” Bonifield says. “We have the very best visibility and the property is extremely well located to access all areas of the Triangle.”

Woodfield believes the Raleigh-Durham market will reward its investors since the firm was able to secure the deal during the downturn and the local economy is starting to improve. The first residents are expected to move into Woodfield Creekstone in the summer of 2012.

The X factor is jobs. Bonifield says, “Job growth is the near term need but for the long term the property is located perfectly and we will be delivering a very high quality project.”

Instant Insights /

Woodfield Breaks Multifamily Ground in Raleigh

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