Middleburg Communities to Develop Dynamic Build-to-Rent Community in Wilmington, North Carolina

280-unit development to offer a mix of cottages, duplexes and townhomes and feature pocket parks, shared greenspace and streetscapes

VIENNA, Va.--(BUSINESS WIRE)--Middleburg Communities (“Middleburg”) today announced it has closed on an approximately 30-acre land parcel located at the intersection of S 17^th Street and Independence Boulevard in the coastal city of Wilmington, where it will develop a dynamic build-to-rent community, Hamlet Barclay West. The 280-unit neighborhood development will be located across the street from The Pointe at Barclay, Midtown Wilmington’s premier dining and entertainment destination, and will feature a mix of cottages, duplexes and townhomes. Construction on Hamlet Barclay West is expected to commence in January 2024.

“Wilmington’s explosive growth over the years has resulted in strong demand for high-quality, build-to-rent communities like Hamlet Barclay West,” stated Alexi Papapieris, Senior Vice President of Development for Middleburg’s Carolinas Region. “We are excited to break ground on this project and deliver a product that meets the needs of the market and offers a lifestyle that is coveted by individuals and families alike.”

Hamlet Barclay West, situated less than 20 minutes from nearly everything Wilmington has to offer, including Historic Downtown Wilmington, Wrightsville Beach, Carolina Beach, the University of North Carolina-Wilmington and all major employers, will offer the benefits of traditional single-family living without the requirement of a down payment or property maintenance. The community will feature a neighborhood-style design that is characterized by tree-lined streets, pocket parks and shared greenspaces, while all units will have spacious layouts, private entries and backyards.

The amenity-rich development will offer a variety of one-, two- and three-bedroom floorplans, with all units featuring high-quality interior finishes, such as quartz countertops, stainless steel appliances, shaker wood cabinets, tile backsplashes, and luxury vinyl plank flooring. What’s more, the community will have numerous amenities throughout, including a clubhouse with a resort style pool and fitness center, electric vehicle charging stations, a dog park, a pet spa and more.

Wilmington’s strong underlying fundamentals and rapid growth are illustrative of Middleburg’s investment criteria and the cities it looks to invest in throughout the Sunbelt. Wilmington’s economy is driven by industry leaders in healthcare, education and manufacturing including General Electric, Verizon, Duke Energy, Novant Health, Wilmington Health, UNC Wilmington, Cape Fear Community College, Pharmaceutical Products Development, Corning and The Port of Wilmington.

According to Austin Knapp, Partner and Senior Managing Director of Development, “Wilmington is a city that we project will continue to experience robust population inflows and investment activity over the long-term as it offers the charm, quality of life and employment drivers that make it an ideal place to live, work and play.”

About Middleburg Communities

Middleburg is a leading investment firm maximizing value through a fully integrated approach to the acquisition, development, construction and operations of high-quality attainable rental housing. Since 2004, Middleburg has acquired and developed more than 22,000 apartment units, executing over $3 billion in transactions. The Middleburg team shares a vision for greater value creation through community impact. The firm’s success is rooted in a genuine desire to serve its local communities in thoughtful and holistic ways. Middleburg embraces people, property, and partnerships to enhance the lives of others, contribute positively to its neighborhoods and maximize real returns for partners. For more information, please visit www.middleburgcommunities.com.