Envy Apartment

Olde Raleigh aerial Taurus Investment Holdings acquired the Olde Raleigh garden - style apartment community in the Northwest submarket of Raleigh, N.C. The company purchased the property from Chaucer Creek Capital for $33.5 million.  Located at 4000 Grand Manor Court , the 228- unit community features one-, two- and three- bedroom floorplans ranging from 716 to 1,523 square feet. Interior features include gourmet kitchens , walk-in closets, washer/dryer connections, bay windows, crown molding, nine-foot ceilings, garden tubs, faux wood plank flooring , private balcony/patios, brushed nickel faucets , stainless steel appliances , refinished white cabinets , spring carnival faux granite counter tops , columns and built-in bookshelves. Amenities with an upgrade “Taurus plans to execute an extensive renovation plan throughout the property including: high- quality interior renovations of the apartment homes, new and upgraded amenities on site, exterior cosmetic improvements , and sus...

April 06, 1998 | By Larry Carson | Larry Carson,SUN STAFF Dundalk residents who last month rejected a government-aided plan to renovate the Hidden Cove Apartments over fears it would cater to the poor hold out hope that a new buyer will appear and convert the 32-year-old complex into elderly housing or condominiums. But neither is likely, say a variety of county officials and real estate experts , who predict more slow decline for the unprofitable 30- acre waterfront complex in West Inverness , a densely populated community of about 2,000 brick townhouses. The $ 9 million sale price , combined with the multimillion-dollar cost to renovate or demolish the 504-unit, three- story brick complex , makes any purchase or extensive redevelopment problematic without government aid , county officials and real estate experts say. "The numbers won't crunch" for a conventionally financed deal , said county Councilman Louis L. DePazzo, a Dundalk Democrat who supported the plann...