Banner has developed Class A, mid-rise, transit-oriented apartment communities in desirable infill locations. Banner began focusing on the senior living sector in 2010, with the development of their first senior deal.
Banner has developed Class A, mid-rise, transit-oriented apartment communities in desirable infill locations. Banner began focusing on the senior living sector in 2010, with the development of their first senior deal.
Construction of the Class A multifamily property commenced in May 2014 on a two-acre parcel of vacant land on the east side of downtown Raleigh. The four and five story apartment property includes a saltwater pool and sundeck, entertainment courtyard, outdoor fireplace and TV, BBQ grilling stations, community room with full kitchen, pet spa, fitness and yoga studio, 24-hour package locker, a locally sourced coffee bar, bike storage/maintenance area, electric car charging stations, and a 5-story enclosed and secured parking garage.
The development was completed nearly two months ahead of schedule and below budget. The lease-up was completed on time and at the underwritten rent levels. In July 2020, Banner successfully sold the Lincoln. Banner continues to pursue additional developments in the Raleigh area.
The state-of-the-art project appeals to the profile of the current consumer and to the long-term preferences of the baby boomer generation. This design competes favorably in the market since most of the product in the area is dated and designs have evolved considerably since the existing stock was built.
Modena Cherry Creek delivers high levels of hospitality services, enriching programs for residents, and sophisticated resident-centric technologies. Assisted living units range in size from studios to two-bedroom, two-baths. Residents can enjoy a restaurant and a bar located on the third floor with panoramic Rocky Mountain views, an outdoor terrace, and an exposition kitchen. The interior decor draws from local inspirations designed for a modern Colorado lifestyle. Residents also benefit from access to a yoga/meditation studio, an indoor/outdoor club area, and a full-service spa.
