Eller Capital High-Quality Rental Housing Initiative for Public Employees

C HAPEL H I L L : L I VE | WORK | P L AY – A COMMUNI TY BUI LDI NG I N I T I AT IV E

MARCH 1 2 , 2 0 15

39 CONVENTIONAL (NON-STUDENT) APARTMENT COMMUNITIES (WITHIN CHCCS DISTRICT) TOTALING

7,290 UNITS

ONLY 430 OF THESE APARTMENT UNITS (6%) HAVE BEEN COMPLETED IN THE LAST DECADE.

80% OF THE CONVENTIONAL APARTMENT UNITS WERE BUILT MORE THAN 25 YEARS AGO.

OVER HALF (55%) OF THESE APARTMENT UNITS WERE BUILT IN THE 1970’S AND EARLIER!

CHAPEL HILL APARTMENT MARKETQUICK FACTS

A GAP IN THE HOUSING MARKETPROBLEM: MANY PEOPLE WHO WORK IN CHAPEL HILL AREN’T ABLE TO LIVE IN CHAPEL HILL

FOR YEARS, CHAPEL HILL RESIDENTS HAVE BEEN FORCED TO

CHOOSE BETWEEN TWO EXTREMES: NEWER LUXURY

APARTMENTS THAT COST TOO MUCH VS. MORE AFFORDABLE

APARTMENTS THAT LACK THE MODERN FINISHES AND

AMENITIES THAT RENTERS TODAY EXPECT AND DESIRE.

THIS STRUGGLE MOST OFTEN RESULTS IN A SITUATION IN

WHICH THOSE WHO WORK IN AND SERVE THE CHAPEL HILL –

CARRBORO COMMUNITY ELECT TO LIVE IN HIGHER QUALITY

HOUSING IN DURHAM FOR THE SAME PRICE AS THE OLDER

HOUSING IN CHAPEL HILL.

MODERN LUXURY | DESIRABLE HOUSINGSOLUTION: TODAY ELLER CAPITAL IS ANNOUNCING A NEW PROGRAM FOR PUBLIC EMPLOYEES WHO WANT TO LIVE IN THE COMMUNITY IN WHICH THEY SERVE.

ELIGIBLE INDIVIDUALS CAN IMMEDIATELY TAKE ADVANTAGE OF GENEROUS

DISCOUNTS ON MONTHLY RENT AT TWO OF ELLER’S NEWLY-RENOVATED

APARTMENT COMMUNITIES, TOTALING $2,000-3,050 IN SAVINGS

EACH YEAR.

THESE COMMUNITIES HAVE UNDERGONE MAJOR RENOVATIONS AND NOW

OFFER LUXURY INTERIOR FINISHES THAT ARE CONSISTENT WITH BRAND NEW

CONSTRUCTION.

WITH THESE INCENTIVES WE CAN OFFER HIGH QUALITY HOUSING AT PRICES

THAT ARE AFFORDABLE TO NEARLY EVERYONE WORKING IN CHAPEL HILL.

SAVINGS ON A ONE-BEDROOM APARTMENTEFFECTIVE MONTHLY RATES FOR A ONE-BEDROOM/ONE-BATHROOM AT 86 NORTH APARTMENT HOMES WILL START AT $645 PER MONTH, NORMALLY $795 PER MONTH.

EFFECTIVE MONTHLY RATES FOR A ONE-BEDROOM/ONE-BATHROOM AT THE APARTMENTS AT MIDTOWN 501 WILL START AT $891 PER MONTH, NORMALLY $1,100 PER MONTH.

0

200

400

600

800

1000

1200

Midtown 501 86 North

Monthly Rent

Market Price Discounted Price

THE APARTMENTS AT MIDTOWN 501545 ASHLEY COURT

THE APARTMENTS AT MIDTOWN 501AMENITIESGRANITE COUNTERTOPS

NEW STAINLESS STEEL APPLIANCES

PLANK FLOORING

DESIGNER CABINETRY

WASHER AND DRYER INCLUDED

WALK-IN CLOSETS

SPACIOUS BALCONIES

CABLE/INTERNET AMENITY PACKAGE

CENTRAL HEAT & AIR

BRUSHED NICKEL HARDWARE

NEW ENERGY EFFICIENT WINDOWS

THE APARTMENTS AT MIDTOWN 501COMMUNITY FEATURES

SPARKLING SWIMMING POOL

CLUB ROOM WITH BILLIARDS AND SHUFFLEBOARD

GOLF / SPORTS SIMULATOR

SPACIOUS PET PARK

PLAYGROUND

BOLIN CREEK TRAIL ACCESS

ON-SITE STARBUCKS COFFEE

STATE OF THE ART FITNESS CENTER

OUTDOOR CABANA AND GRILLING STATION

VOLLEYBALL & BOCCE BALL COURTS

BASKETBALL & TENNIS COURTS

VALET WASTE SERVICE

INTERNET CAFÉ WITH WI-FI ACCESS

86 NORTH APARTMENT HOMES200 WESTMINSTER DRIVE

86 NORTH APARTMENT HOMESAMENITIESOVERSIZED ENERGY EFFICIENT WINDOWS

ENERGY STAR RATED BLACK GE APPLIANCES

MICROWAVE INCLUDED

GRANITE KITCHEN COUNTERTOPS

CULTURED MARBLE BATHROOM VANITIES

PLANK FLOORING

CURVED SHOWER CURTAIN RODS

2” PLANTATION WINDOW BLINDS

NICKEL FINISH FIXTURES AND HARDWARE

86 NORTH APARTMENT HOMESCOMMUNITY FEATURES

BASKETBALL AND TENNIS COURT

SPARKLING SWIMMING POOL

BARK PARK

INTERNET CAFÉ

FITNESS CENTER

SAND VOLLEYBALL COURT

BOCCE BALL COURT

CHILDREN’S PLAYGROUND

ON-SITE STARBUCKS COFFEE

WHO IS ELIGIBLE?ALL TOWN OF CHAPEL HILL, TOWN OF CARRBORO AND STATE OF NORTH CAROLINA EMPLOYEES AREELIGIBLE, INCLUDING THOSE WHO WORK FOR THE UNIVERSITY OF NORTH CAROLINA AND THE UNCHOSPITAL SYSTEM.

HOW SOON CAN I TAKE ADVANTAGE?IMMEDIATELY. THIS PROGRAM IS IN EFFECT AS OF TODAY AT BOTH MIDTOWN 501 AND 86NORTH.

(919) 929-7005 midtown501.com

(919) 344-0937eightysixnorth.com