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Park Grove Realty expanding to Raleigh/Durham market

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  • Staff Report 

Park Grove Realty, a notable real estate development and management firm, has announced the opening of a new office in Raleigh as part of its strategy to boost growth in the Raleigh/Durham market.

Co-founder and Partner Andy Bodewes will be relocating to Raleigh to oversee the expansion in this crucial region, known as the Triangle area (Raleigh/Durham/Chapel Hill Region), or the Research Triangle. The firm has spearheaded numerous multi-family apartment projects in this area over recent years, and aims to build on this success through a local presence.

The company has initiated four distinct projects in the Triangle recently, including The Ramsey, a thriving 241-unit luxury building in downtown Durham, and Pines at Wake Forest, a 99-unit luxury garden-style apartment project currently under construction in Wake Forest, NC. With two additional apartment developments in the approval process, Park Grove plans to maintain its focus on luxury multi-family developments as well as affordable housing and medical office projects.

The company manages 17 properties comprising 1,250 apartments and over 200,000 square feet of commercial space and has a considerable pipeline of several hundred units in development.