Harmony Housing Affordable Development, Gilbane and F7 Break Ground on 200-Unit Chapanoke Community in Raleigh

RALEIGH, N.C. — Harmony Housing Affordable Development Inc. (HHAD), Gilbane Development and F7 International Development have broken ground on Chapanoke, a nearly $58 million, 200-unit residential community at 326 Chapanoke Road in Raleigh, the developers announced Oct. 26.

The three firms together form Raleigh Community Partners LLC, the development entity behind the project. Completion is anticipated in early 2028. The groundbreaking was attended by public, community and financing partners.

Chapanoke Unit Mix and Affordability

Chapanoke will include 66 one-bedroom, 86 two-bedroom and 48 three-bedroom apartment homes for households earning between 30% and 70% of Area Median Income (AMI). Earlier financing coverage indicated income bands at or below 30%, 50%, 60% and 70% of AMI.

The site spans nearly six acres. Plans also call for approximately 10,000 square feet of retail space. At least 30% of the apartments are expected to be prioritized for eligible Wake Technical Community College students.

The community is adjacent to Wake Tech's Public Safety Education Campus and near the planned Southern Wake Bus Rapid Transit corridor, connecting future residents with education, workforce training, employment and transportation opportunities.

Public Land and Partnerships

Chapanoke reflects years of collaboration among Raleigh Community Partners, Wake County, the City of Raleigh and Wake Tech, which originally donated the land. Wake Tech donated the land to Wake County in 2021. The partners worked to advance a shared vision for the site centered on housing, sustainable development, transit connectivity and community-serving amenities.

"Chapanoke demonstrates what we can accomplish when public and private partners come together around a shared purpose," said Tanya Eastwood, President and CEO of HHAD. "By creating quality homes connected to education, employment and future transit, we are investing not only in housing, but in greater access to opportunity for residents and the broader Wake County community."

Yarojin (Roj) Robinson, Senior Vice President of Affordable & Mixed-Income Housing at Gilbane Development, said, "Chapanoke means more than new housing — it represents hope, stability, and a real path forward for families who deserve opportunity close to home." He added, "When we invest in communities like this, we're investing in people's futures. I'm proud of what this partnership is bringing to Raleigh and the doors it will open for residents for generations to come."

Monte Montague, President of F7 International, said: "As a Southeast Raleigh native, this one is personal. F7 has built in this community for nearly three decades, and Chapanoke puts quality homes within reach of the families who make Raleigh run. With the commercial component, local businesses get a real stake in this neighborhood's growth. We're building something that serves generations to come."

Raleigh Mayor Janet Cowell said the project would not be possible without collaboration from Wake County and the developers. "Chapanoke Apartments will bring 200 affordable homes to our community, preserving affordability and community cohesiveness for some of our most vulnerable residents," Cowell said.

Commissioner Don Mial said Wake County is investing land and financing in the project. "The project will be close to the southern BRT corridor, allowing folks at all income levels to benefit from the incredible growth our region is experiencing," Mial said.

Financing Structure: Greystone and Citi Community Capital

Chapanoke is being advanced through a coordinated public-private financing structure that combines tax credit equity, private financing and local public investment. Greystone Real Estate Capital provides Low-Income Housing Tax Credit equity, while Greystone Housing Impact Investors LP and Citi Community Capital support construction and permanent financing. Wake County and the City of Raleigh are contributing subordinate public financing.

A July financing announcement described the project as having secured nearly $93 million in capitalization. The October groundbreaking announcement characterizes the residential community as a nearly $58 million development; the figures may reflect different project scopes.

Market Context in Southern Wake County

The project sits in one of South Raleigh's fastest-growing corridors, in a region experiencing population and employment growth. The combination of donated public land, local subordinate financing, tax credit equity and institutional debt is a model used to produce housing at rents affordable to households below prevailing market levels.

The site's proximity to Wake Tech's Public Safety Education Campus and the planned Southern Wake bus rapid transit corridor ties the development to nearby education and transit investments.

About the Developers

HHAD describes itself as a nationally recognized, mission-driven affordable housing developer specializing in public-private partnerships, preservation and community-focused development. The team has developed nearly 19,000 apartment homes across 14 states.

Gilbane is family-owned since 1870 and offers real estate investment, development, construction and property and facilities management, with more than 45 offices and 4,000 employees worldwide.

F7 International Development, a Triangle-based, Black-owned business founded in 2002, develops infrastructure and commercial properties and builds and rehabilitates residential housing. Montague has more than 22 years of experience in low-income communities.

Sources

Groundbreaking Held for 200-Unit Chapanoke Community in Raleigh, GlobeNewswire, Oct. 26, 2026: https://www.globenewswire.com/news-release/2026/10/26/3388403/0/en/groundbreaking-held-for-200-unit-chapanoke-community-in-raleigh.html