High Street Residential Delivers 370-Unit The Henley in Apex, North Carolina, With Greystar Managing

High Street Residential (HSR), the residential subsidiary of Trammell Crow Company (TCC), has delivered The Henley, a four-story, 370-unit residential community in Apex, North Carolina, the firm announced Nov. 2. Greystar will lead property management and leasing efforts at the development.

The community is located at 1211 Chapel Ridge Rd. in Apex, a suburb of Raleigh. It sits on 22 acres, or roughly 16.8 units per acre.

The Henley Unit Mix and Design

The Henley offers studio, one-, two- and three-bedroom apartments ranging from 580 to 1,361 square feet. Thirteen units are designated as affordable and are available to households earning 60% of the annual median income, or about 3.5% of the total unit count.

According to the announcement, each apartment will feature energy-efficient stainless-steel appliances, full-size washers and dryers, custom closets, full-height kitchen backsplashes, programmable thermostats and Google Fiber availability. Select units will also include freestanding kitchen islands, double vanity sinks and linen cabinets, and balconies.

Rule Joy Trammell+ Rubio, LLC designed the project, and L.F. Jennings, Inc. served as general contractor.

Amenities and Greystar Management

Community amenities include a fitness center with a yoga studio, a clubhouse, coworking space with private work areas, and a resort-style pool with an outdoor pavilion. Outdoor features include grill areas, fire pits, and a dog park and spa. Residents also have access to a reservable private dining room with a demonstration kitchen, a contactless package delivery system with cold storage, and bike storage with a maintenance station. A community bike share program with smart e-bikes, private garages and EV charging stations are also part of the offering, along with connectivity to the North Beavercreek Greenway.

Greystar will lead property management and leasing at the community. Leasing information is available at thehenleyapex.com.

High Street Residential Comments on the Apex Delivery

"We're proud to be delivering The Henley to Apex, a community that has earned a reputation as one of the best places to live in North Carolina," said Josh Dix, Principal with HSR in Raleigh. "Our vision was to create more than just apartments. We wanted to deliver a place where residents can connect, work, relax, and enjoy a lifestyle supported by best-in-class amenities and convenient access to everything the Triangle has to offer. We believe The Henley will be a valuable addition to the town's continued growth and success."

Raleigh-Durham Multifamily Market Context

The Henley arrives as the Raleigh-Durham multifamily market shifts from a heavy-supply period toward improved balance. The region recorded 1,396 multifamily completions in the third quarter of 2026, while trailing-12-month completions fell to 5,863 units, down 42% from the prior period. Units under construction represented 8.1% of existing inventory.

Demand has remained active, with the region absorbing 1,113 units in the third quarter of 2026, compared with 1,086 units in the third quarter of 2025. The Cary, Morrisville and Apex submarket posted 5.0% vacancy, the tightest among tracked Raleigh-Durham submarkets, and 2.4% rent growth, the highest in the region.

Conditions vary across the broader market. Stabilized-property occupancy in Raleigh-Durham was 93.1% in March 2026, down 70 basis points year over year, and average asking rent was approximately $1,539 in April. Raleigh-Durham multifamily cap rates averaged 5.31% in the third quarter of 2026, continuing a 19-quarter upward trend.

Construction activity has also moderated. Raleigh's under-construction inventory fell to 6,667 units in the first quarter of 2026, against total inventory of 139,355 units. One market forecast anticipated fewer than 3,000 units delivering during the final three quarters of 2026.

High Street Residential and Trammell Crow Company

High Street Residential specializes in multifamily development, with a background in urban, infill mixed-use residential projects and the redevelopment or repurposing of existing facilities. The firm has approximately 14,500 units in process or in its pipeline and has completed approximately 18,600 units valued at nearly $5.8 billion over the past two decades.

Trammell Crow Company is a commercial real estate developer and wholly owned subsidiary of CBRE Group, Inc. (NYSE: CBRE), headquartered in Dallas. Founded in 1948, TCC has developed or acquired 3,000 buildings valued at $90 billion spanning more than 700 million square feet. As of Sept. 30, 2026, TCC had nearly $30 billion of projects in process and in its pipeline.

Sources

Trammell Crow Company: https://www.trammellcrow.com/newsroom/high-street-residential-delivers-henley-370-unit-residential-community-apex-nc