Park Grove Realty Expands Presence in Raleigh/Durham Area
Real Estate Development and Management Company Opens Triangle Office
FOR IMMEDIATE RELEASE
Media Contact:
Brandmint
Maddie Ulrich, VP of Public Relations
mulrich@brandmint.io
607-422-9777
ROCHESTER, NY, July 21, 2023 - To continue its significant growth in the Raleigh/Durham market, Park Grove Realty, a leading real estate development and management company, is thrilled to announce the opening of an office in Raleigh, NC. Partner and Co-founder Andy Bodewes will relocate to Raleigh to facilitate Park Grove’s expansion in this important market for the company. Park Grove has initiated several multi-family apartment projects in the Triangle area of North Carolina in recent years and intends to expand on that growth with a local presence. The Triangle area is the Raleigh/Durham/Chapel Hill Region of NC and is often referred to as the Research Triangle.
Park Grove has originated four separate projects in the Triangle in the last few years, including The Ramsey, a 241-unit luxury amenity-rich building located in the heart of downtown Durham. The Ramsey is now fully stabilized and thriving, adding to Park Grove's impressive portfolio. Additionally, the company is currently under construction on the Pines at Wake Forest, a 99-unit luxury garden-style apartment project in Wake Forest, NC with two additional apartment developments in the approval process in the Triangle area.
"We are excited about the growth opportunities in the Triangle area," shared Bodewes. "Our recent projects have been well-received, and we are committed to expanding our presence in this important market."
Park Grove intends to continue to target luxury multi-family developments as well as affordable housing and medical office projects. Park Grove's dedication to developing high-quality properties based on long-term growth has resulted in the ownership and operation of 17 properties with 1,250 apartments and over 200,000 square feet of commercial space. The company also has a substantial pipeline of several hundred units in development, further solidifying its position as a key player in the real estate industry.
Founded in 2015 by Andrew Crossed and Andrew Bodewes, Park Grove Realty brings together over 50 years of experience in real estate acquisition, development, management, and ownership. The company specializes in multi-family residential, mixed-use, and commercial projects, with a particular focus on adaptive reuse and rehabilitation of historic buildings.
Looking ahead, Park Grove is committed to pursuing projects that benefit both the community and the company's long-term value. With plans to expand development opportunities in North Carolina, New Jersey, and other growing markets, Park Grove aims to utilize its unique combination of experience and expertise in the market rate and affordable multi-family sectors.