RALEIGH, NC—A major multifamily project in downtown Raleigh hasbroken ground. Chicago-based Banner Apartments,LLC reports it has turned the first dirt on its urbanapartment The Lincoln development on a parcel thatwill encompass a full city block bordered by Hargett, Martin,Bloodworth and East streets.

The four-story development will include 224 studio, one and twobedroom apartment units. The units will feature nine-foot plusceiling heights with high-end finishes, including stainless steelappliances, granite counter tops, wood floors and high-speedwiring. Amenities at the property will include a state-of-the-artfitness and yoga center, a courtyard swimming pool and grillingarea, a club lounge, along with an attached private parking deck.The Lincoln is scheduled to open in the summer of 2015. A publishedreport in the Triangle Business Journal pegged the development costat approximately $40 million.

“The Lincoln's location, two blocks from Raleigh's centralbusiness district, will allow us to provide a high-end rentalcommunity that is in close proximity to the area's desiredamenities and will provide residents with one of the most walkaccessible communities in the entire Raleigh metro area. We areexcited to participate in the evolution of downtown Raleigh, ahistoric American city, and we look forward to becoming an integralpart of the Raleigh community,” says JohnNikolich, executive vice president of Banner Apartments,LLC.