North Carolina State University - Centennial Campus
Raleigh, North Carolina
Comments:
Mid-rise condominiums are pulled from the model like drawers. In the background is the site plan showing the frontage on Lake Raleigh and the City of Raleigh Greenway.Academic Privatization initiated the first privatized development on the campus off NCSU Centennial Campus. The privatization partnership was between Academic Privatization and Mr. Owen Kenan and his family and the North Carolina State University Foundation.
This project is under construction on a 16 acre site overlooking 65 acre Lake Raleigh. The development required market rate financing, for it is specifically required to be occupied by professionals, faculty, retired faulty or random residents who may have a need to be housed in the Centennial Campus area, but are not necessarily qualified tenant under the US Treasury definition. The community is located on land originally ground leased to Academic Privatization for a term of fifty years, but the term has been renegotiated to 99 years to enable townhouses and condominiums to be sold instead of renting apartments as originally intended.
