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

The four-story development will include 224 studio, one and two bedroom apartment units. The units will feature nine-foot plus ceiling heights with high-end finishes, including stainless steel appliances, granite counter tops, wood floors and high-speed wiring. Amenities at the property will include a state-of-the-art fitness and yoga center, a courtyard swimming pool and grilling area, a club lounge, along with an attached private parking deck. The Lincoln is scheduled to open in the summer of 2015. A published report in the Triangle Business Journal pegged the development cost at approximately $40 million.

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