Catalyst Capital Partners, a developer based in Charlotte is expanding its master planned project in western North Carolina – the Mariposa at RiverBlue, Asheville.
Catalyst Capital Partners has successfully secured funding for Mariposa at RiverBlue, a community designed for adults consisting of 153 units, located in Asheville. This development will be one of three communities within the 55 acre RiverBlue project situated in west Asheville. Geared towards individuals aged 55 and above Mariposa, at RiverBlue will offer two bedroom apartments. Construction is scheduled to commence in early 2024.
The Catalyst Capital Partners project team includes C. Herman Construction, based in Charlotte as the contractor. Origin Investments is partnering with Catalyst on this project. The architect for the project is Moseley Architects. Civil Design Concepts is responsible, for the civil engineering aspect while Site Design Studio is handling the landscape architecture.
“The development highlights Catalysts Capital Partners focus on investing in thriving markets, in the Sunbelt region, where there are demographic trends and unique narratives” explained A.J. Klenk, Managing Partner at Catalyst. “The active adult market is experiencing growth as a segment of the U.S. Population driven by aging baby boomers that are looking for maintenance living options that offer access, to amenities and social activities. We are thrilled to introduce this community marking the debut of our active adult rental housing brand.”
First phase of RiverBlue development project in Asheville
Catalyst Capital Partners has been working on the RiverBlue development project since January 2019. The initial component of this plan is an apartment complex called Hominy at RiverBlue consisting of 262 units. The first set of units is expected to be available, in the spring. Ultimately RiverBlue aims to encompass a total of 660 units upon completion.
Additionally, Catalyst Capital Partners boasts a portfolio featuring numerous noteworthy sites and projects. Among its acquisitions is the former Price’s Chicken Coop site in South End, intended for a multifamily project. According to the Catalyst website, construction is slated to commence in the first quarter. Additionally, the developer played a key role in a sizable mixed-use project in downtown Rock Hill, among other ventures.
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