Reader Communities, a master-planned community development firm, has officially broken ground on Northlake. Situated just to the north of Holding Lake in the master-planned community Holding Village, Northlake will feature 331 single family homes and townhomes and 320 apartments. The 115-acre Northlake will be jointly developed in partnership with Hillwood Communities, a Perot company that specializes in real estate investing and creating master-planned developments and Woodfield Development who will build the apartments. Northlake is Hillwood’s first community development in North Carolina. Sales on single family homes are slated to begin at the end of 2021.
“As one of the southeast’s leading master-planned developers, Reader Communities is extremely proud to be developing Northlake in partnership with Hillwood. This is our second development together and their dedication to creating communities with a spirit of bringing people together reflects our own. This partnership will help guide the final phase of Holding Village and make this community one of the best master-planned communities in the south,” said Dean Barberree, president of Reader Communities.
Future homeowners can look forward to a two-acre park nestled around the properties historic silos from the Holding family dairy, green spaces, pocket parks and easy access to the Smith Creek Greenway trail system. One of the most unique features is 15-acre Holding Lake allowing residents to enjoy fishing, kayaking, paddle boarding or simply watching the sunset. Future plans include a new amenity building that will inspire space for community events next to the current resort-style pool multi-family residents will enjoy their own unique amenities.
“We’re excited to be part of a project that will be positive for both current and future residents. Reader’s team has a long-standing track record of developing high-quality master planned communities. We believe that our first community development in North Carolina will reflect our own standards in creating inspired communities and that makes us excited to be part of this project,” said Danny Ellis, sr. vice president of Hillwood.
The apartment-homes will be developed by Woodfield Development, a developer of Class A multi-family and mixed-use assets in neighborhoods, towns and cities along the eastern seaboard of the United States. The first apartments are planned for completion in spring 2022. Woodfield has partnered with GrayCo, Inc. and First Horizon Bank to capitalize the project.
“We are excited to be introducing a premier apartment community in the heart of the newest Holding Village development in Wake Forest,” said Scott Underwood, partner with Woodfield Development. “These 320 apartment homes will fit well into the mix of homes already within the community and offer a lifestyle choice that is in high demand. Every Woodfield community is an investment that matters. Our tenured team creates lasting value through a business model based on creativity, knowledge, and partnerships built over time.”