RALEIGH, N.C. — Two local companies, Navion Senior Solutions and NorthView Partners, have acquired 8.5 acres in Raleigh to develop The Reserve at North Hills, a 189-unit independent living, assisted living and memory care community.
Justin Good, Jeff Glenn, Allan Lynch and Sarah Godwin of HFF brokered the land sale, which totaled $3.9 million. The sellers were Wells Fargo Bank, acting as trustee for a local family, and Henry Sink and Richard Williams, acting as co-trustees for another local family.
The project will be part of Phase III of North Hills, a massive mixed-use development. Kane Realty and Dewitt Carolinas recently purchased more than 50 acres across the street from The Reserve at North Hills for continued expansion.
NorthView Partners is a developer, general contractor, owner and operator primarily focused on multifamily. The company has developed nearly 7,000 multifamily units in addition to other commercial developments.
Navion Senior Living has developed, owned and operated more than 100 seniors housing campuses totaling 6,000 units across North Carolina.
Construction is scheduled to begin in spring 2018. Reservations will be accepted beginning in spring 2019 for a planned opening in first-quarter 2020.