QOZ Fund I

Gateway Apartments

Raleigh,

NC

Total Required Equity
$26,800,489
Asset Type
Multifamily
Investment Objective
Development
Investment Date
January 2022
Projected IRR
17.00%
Projected Net Multiple
1.87x

Investment Summary

Origin is providing joint-venture equity in partnership with Spandrel Development Partners and Raleigh-based FirstFloor for the development of Gateway Apartments, a fully-entitled, 288-unit, five-story multifamily complex in Raleigh, NC’s premier downtown opportunity zone district. Located at the nexus of Downtown’s Fayetteville St. Corridor, the Warehouse District, and burgeoning Downtown South, the project will offer strong walkability (Walkscore of 85) while maintaining a more private feel than other multifamily communities in the market. Residents will have easy access to retail, dining, neighborhood amenities, and the Fayetteville Corridor which is the area’s most dense employment hub. The Gateway Apartments will serve as the first phase of the City Gateway mixed-use development. Future phases will include Class A office, retail, hospitality, and urban greenspace, as well as substantial infrastructure improvements enhancing connectivity into the Downtown core.    

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