From the Triad Business Journal:
Greensboro developer Barry Siegal is set to begin work by July 1 on a more than $18 million, 197-unit upscale apartment development called The Lofts at Little Creek in Winston-Salem.
Once built by the end of 2013, the development designed by Erskine-Smith Architecture of Greensboro will add a high-end multifamily component to the Shoppes on Little Creek, a mixed-use development off Hanes Mall Boulevard…
Monthly rents will range from $915 to $1,125. The project falls within Forsyth County’s western submarket, where the average rent is $667, a rate influenced by the mostly older properties in that area. The rates for newer properties in that area typically range from $760 to $940, said Engle Addington, a multifamily analyst with Real Data.
Siegal expects that local professionals will be willing to pay higher prices for a project with high-end finishes, three elevators and amenities including a gym, billiard room, business center and pool.