Wood Partners and Marcus Partners Develop 280-Unit Apex Community Amid Raleigh Growth Surge — Wood Partners

Event summary

Wood Partners and Marcus Partners broke ground on Altera Heights, a 280-unit multifamily community in Apex, North Carolina, with completion expected by the end of 2027.
The project includes income-restricted affordable housing units and is located near Research Triangle Park, a major research and technology hub.
Marcus Partners is providing equity for the development, marking its first ground-up project in the Raleigh-Durham market.
Wood Partners has now commenced construction on four projects in the Raleigh-Durham area within the last year.

The big picture

Wood Partners and Marcus Partners are capitalizing on North Carolina's status as the third fastest-growing state in 2025, driven by strong job growth in life science, healthcare, and industrial sectors. The project reflects a broader trend of real estate developers targeting high-growth suburban markets near major employment hubs. With over 115,000 multifamily homes developed and $24 billion in combined capitalization, Wood Partners continues to solidify its position as one of the largest multifamily developers in the U.S.

What we're watching

Market Demand: Whether the project's mix of upscale and affordable units will meet demand in Apex's competitive housing market.
Execution Risk: The pace at which Wood Partners can deliver multiple projects simultaneously in the Raleigh-Durham area without compromising quality.
Regional Expansion: How Marcus Partners' first ground-up development in Raleigh-Durham will influence its broader Southeast expansion strategy.