Wood Partners and Marcus Partners Break Ground on 280-Unit Multifamily Community Near Raleigh

Altera Heights will bring attainable housing options to one of the Triangle's fastest-growing communities

Wood Partners, a national leader in multifamily real estate development, in partnership with Marcus Partners, a real estate investment, management and development firm, has broken ground on a 280-unit multifamily community located in Apex, North Carolina, a suburb of Raleigh. Altera Heights will offer upscale living at cost-effective rates and will be completed by the end of 2027.

Located at the intersection of Jenks and Wimberly roads, the community will include a mix of one-, two- and three-bedroom units. Wood Partners began work on the site in fall 2023, securing approval from the Town of Apex through a thoughtful approach centered on attainable housing. The community will also include income-restricted affordable housing, expanding living opportunities for residents in one of North Carolina's fastest-growing markets.

"Great communities begin with collaboration," said Caitlin Shelby, Managing Director at Wood Partners. "From the beginning, our goal was to create a community that responds to Apex's evolving housing needs while complementing the town's long-term vision. We're grateful for the partnership of the Town of Apex and Marcus Partners in bringing this project to life.”

Marcus Partners is providing equity for the development, marking another collaboration with Wood Partners and the firm’s first ground-up development in the Raleigh-Durham market. Altera Heights is being led by Marcus Partners’ recently launched Atlanta office as the firm continues to expand its presence across the Southeast.

“We believe Altera Heights combines a strong location, compelling market fundamentals, an attractive basis, along with the opportunity to partner again with Wood Partners on a high-quality multifamily development,” said Andrew Dolinsky, Partner, Investments at Marcus Partners. “This project is an important milestone as we continue expanding our investment activity across the Southeast.”

Named in recognition of Apex's tagline, "The Peak of Good Living," Altera Heights’ residents will enjoy a freestanding clubhouse featuring a state-of-the-art fitness center, co-working space, gaming and lounge areas, as well as a resort-style swimming pool, outdoor fitness area, dog park and pet spa. The units will feature luxury vinyl plank flooring throughout, quartz countertops, tile kitchen backsplashes and tub surrounds, shaker-style cabinetry and premium lighting and plumbing fixtures.

Altera Heights is located in one of North Carolina’s most affluent and fastest-growing communities, approximately 15 minutes from Research Triangle Park, one of the country’s largest research and technology parks. The area continues to benefit from significant investment fueling a growing job market across life science, healthcare, and industrial sectors. More broadly, North Carolina ranked as the third fastest-growing state in 2025 and led the nation in net domestic migration, making it a prime location for new housing growth.

Altera Heights will be Wood Partners' fourth project to commence construction in the Raleigh-Durham area in the last year. Most recently, the firm broke ground on the 357-unit Alta Watkins in Morrisville, North Carolina, in April 2026; the 312-unit Alta Durham Summit in Durham, North Carolina, in September 2025; and the 336-unit Alta Bethpage in Durham, North Carolina, in June 2025. For more information on Wood Partners and its communities, visit www.woodpartners.com.

About Wood Partners

Wood Partners is a national leader in the development and construction of multifamily communities across the United States. The company has been involved in the acquisition and development of more than 115,000 multifamily homes with a combined capitalization of $24 billion. The company currently owns more than 80 properties across the United States, representing approximately 25,000 homes. Headquartered in Atlanta, Wood Partners has offices in 17 major markets across the country. Wood Partners is consistently ranked as one of the five largest multifamily developers in the United States. For more information, visit www.woodpartners.com.

About Marcus Partners

Marcus Partners is a vertically integrated real estate firm specializing in real estate investment, management and development. The firm focuses on value-add investment strategies across industrial, multifamily, and other property types. Marcus Partners and its affiliates currently own, control, operate, or are developing more than 7 million square feet of real estate and 4,300+ multifamily units.  The firm is headquartered in Boston, with regional offices in Metro New York, the Mid-Atlantic, and Atlanta.

4 August 2026