Business Briefs

$53M apartment complex planned near Raleigh's North Hills

Posted May 11, 2012 5:38 p.m. EDT

— Construction is expected to begin this fall on a $53 million apartment complex near North Hills in Raleigh, developer Kane Realty Corp. said Friday.

Kane is joining with Federal Capital Partners in Washington, D.C., to build 400 luxury apartments on 15 acres of land next to the Ramblewood neighborhood near Six Forks Road.

Further details weren't available Friday.

The apartments won't be the first in the North Hills development.

Kane built the Park & Market development across from North Hills mall in 2010. The company recently sold the property to a Texas real estate investor.