The two buildings will total 300,000 sf and are the firstlarge-scale office development in the area. They will be part ofNavare's planned $135 million Glenwood development, a mixed-usecomplex that includes residential, office and retail.
Novare, which bought, renovated and converted the historicBiltmore hotel into office space, plans to begin construction onthe office buildings once a lead tenant signs on. Rental rates incomparable areas are $12 psf to $15 psf.
The residential component of Glenwood will include 34single-family homes and 550 condos, townhomes and apartments. Thehomes will range from $110,000 to $300,000. The apartments willrent for about $1,000 per month.
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