Press release here. Reynolds Mountain keeps rolling, while many other projects have gone down in the tough economy. Wow:
Reynolds Mountain developer Kirk Boone has secured $30 million in financing to complete six, 4 story, mixed use buildings, which will include 201 luxury apartments and nearly 65,000 square feet in street level office, retail and restaurant space. The first building is scheduled for occupancy in early 2011 and the entire series of four story buildings will be completed by mid 2011. The ongoing commercial development, known as Reynolds Village, is located at the foot of the successful Reynolds Mountain residential development and will include a business park, anchored by AvL Technologies, a town square, ample street level parking, green space, wide sidewalks and plazas, outdoor dining and gathering areas, public art and water features. This project will provide the primary element of the planned downtown corridor for the Town of Woodfin in Reynolds Village.
The desire of many people to downsize into smaller residences coupled with the problematic residential home sales and mortgage credit markets, there is an increasing demand in the Asheville community for high quality rental properties with on-site and built-in amenities. Answering this demand has been a challenge for local developers due to the difficulty in funding such large scale projects. Boone identified strategic partner Scott Neely, and after a two year qualifying process, was able to obtain financing through Oppenheimer Multi-family and Heatlh Care Finance. The funding is backed by an FHA insured mortgage, the first of its type in North or South Carolina. Construction has already begun on the project.
The project architect is PDI Architecture of Pendelton SC, Samet Corporation from Greensboro is the general contractor and Asheville firm Samsel Architects is providing exterior and interior design services.
4 Comments
Woodfin will need to get a new professional police force, the current are just a bunch of thugs and bullies!
Communities grow and change. I live in Woodfin. My neighbors are a mix of young professionals who are just starting out, salt-of-the-earth blue collar workers and just good people. Weaverville is also a great town. I used to live there. I think Woodfin will pleasantly surprise you over the next few years. Even though there have been some serious bumps in a business relationship I had with Reynolds Mountain, I do hope the project succeeds. The jobs and business opportunities that come in will benefit the entire Asheville community.
Id rather see it go in weaverville, NOT woodfin!
I have to chuckle at these attempts to make Woodfin like Biltmore Park…..it will never, ever work.
Putting money into developing Woodfin is not the best use of money and I pity those providing the financing.
Like somebody said on here before, you can't put lipstick on a pig like the town of Woodfin…its definitely not one of the nicer areas in Buncombe County for sure.