Catalyst Capital Partners is excited to announce Hominy at River Blue, the first in a series of three Class A multi-family developments which will be constructed in West Asheville, NC. In early 2019, Catalyst first drew plans to construct 660 units on over 55 acres of land located 2 miles from downtown Asheville. By the end of 2020, Catalyst obtained the necessary land entitlements and approvals to begin work on this large project, which we named RiverBlue.
Hominy at River Blue will be the first of three multi-family developments constructed as part of this new project. Keep reading to learn why this project presents a promising opportunity for investment in the Southeast.
Our Vision for Hominy at River Blue
Hominy at River Blue will be the first of two conventional Class A multi-family developments that we plan to build in Asheville. Hominy will consist of 262 units upon delivery, and will be followed by construction of a second multi-family project with a comparable number of units for rental. Catalyst will also build a senior housing development with 154 units at the RiverBlue project site.
The design and construction of Hominy at RiverBlue will be a team effort between Catalyst and several vendors. Ameris Bank of Atlanta provided CCP’s construction loan, and a number of high-net-worth investors, including Origin Investments of Chicago, helped CCP fund the project. Landscape architecture and civil engineering for RiverBlue will be performed by two Asheville-local companies: Civil Design Concepts and Site Design Studio. BB+M of Charlotte will be the architect of record for Hominy at RiverBlue, and EMJ Construction of Chattanooga will handle the construction.
RiverBlue is just a short walk away from the entertainment district in West Asheville and 2 miles away from downtown. RiverBlue residents will also have convenient access to the I-240/I-26 highway. Hominy at RiverBlue is designed with an aesthetic that can best be described as “mountain modern.” The development will offer a best-in-class multi-family living experience to renters in the Asheville market.
Hominy at RiverBlue has massive appeal for tenants who enjoy the great outdoors. The development is bordered by a 1-mile walking trail along Hominy Creek and has walkable access to many nature trails that will allow tenants to fully experience the natural beauty of the Blue Ridge Mountains. Other amenities of Hominy at River Blue include on-site kayak launch, fire pits, a heated swimming pool and a mountain-themed playground for renters’ children.
Invest in Multi-Family Real Estate in Asheville
Hominy at RiverBlue is slated to be the latest in Catalyst Capital Partners’ long line of great achievements in multi-family development. If you’re interested in investing in the thriving real estate market in Asheville, now is the time. Contact us today for more information about Hominy at RiverBlue or any of our other multi-family properties in the Southeast!