The Spring Townhomes
2022 NC Main Street Award: Economic Vitality
Best Infill Building Project
Karen & Bob Rowe
Concept 8 Holdings, LLC
Oak City Partners, LLC
Williard Stewart Architects
The 15-unit Spring Townhomes new construction infill project was a catalyst for economic development in downtown Fuquay-Varina. The project, started in 2017 and completed in early 2021, met the demand for downtown housing.
While igniting the downtown living trend in the Fuquay district, this project evokes the feeling of living in a repurposed industrial space with the additions of amenities such as garages, private elevators, and customized interiors. The townhomes were designed with energy conservation in mind and include energy-efficient appliances, fixtures, and water-saving devices. The 2,000-3,000 square foot units sold for between $300,00 and $400,000 each before the project was completed. The new residents represent a demographic that wants to live, work, and play in downtown.
The fifteen residential units house more than thirty new downtown residents and were valued at more than $5.6 million at completion. The $4.5 million investment leveraged an additional $11.6 million investment in Downtown Fuquay Varina. This included an additional $9 million mixed use infill project that has three new storefronts, one restaurant, 7,000 square feet of upper story offices, and sixteen residential units.
Other resulting investments included seven façade improvements totaling $100,000, $1.5 million in commercial property acquisitions, rehabilitation projects totaling $1 million, and three more upper-story residential units.