GW Real Estate Partners and Austin-based Virtus Real Estate Capital have commenced construction on a new Class A apartment project at the entrance of North Pointe, a 224-acre mixed-use community north of Charlottesville, VA. Strategically located across from the University of Virginia’s North Fork Research Park and adjacent to the National Ground Intelligence Center, The Ridge at North Pointe is expected to deliver in Q2 2024.
United Bank provided financing for this development which marks GW Real Estate’s second ground-up multifamily venture in Virginia. Last year they broke ground on Montage at Marquis Apartments in Williamsburg with an anticipated delivery date set for Q1 2024.
Robert Gordon, Principal at GW Real Estate Partners commented: “Charlottesville boasts a strong regional economy coupled with high quality living standards due to its proximity to University of Virginia – generating robust demand for housing within the metro area.” He added that “with limited new apartment supply projected ahead, The Ridge at North Pointe is poised for success.”
