Quarterra Multifamily Announces Topping Off at Cormac Apartments

News provided by

Aug 31, 2022, 11:45 ET

Mid-Rise Mixed-Use Community to Bring 303 Apartment Homes to Charleston's Growing Upper Peninsula District

CHARLESTON, S.C., Aug. 31, 2022 /PRNewswire/ -- Quarterra Multifamily (QMF), a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer, and asset manager along with investment partner Cresset Real Estate Partners, today announced it has topped off Cormac, a mixed-use apartment community on Charleston's upper peninsula, in the rapidly growing North Morrison "NoMo" neighborhood. Cormac represents the first joint venture between QMF and Cresset Real Estate Partners and was capitalized in their Cresset Diversified Qualified Opportunity Zone (QOZ) Fund I.

Cormac – featuring 303 apartment homes and 13,068 square feet of retail space, as well as a pair of public ground level courtyards – will bring an unprecedented level of modern living to the burgeoning NoMo district. The midrise community's unique and enviable location puts residents within easy reach of employment centers, dining options, as well as entertainment and sporting venues, and provides prime access to Downtown Charleston, Mt. Pleasant, Park Circle in North Charleston, and West Ashley.

"We are pleased to participate in the exciting transformation taking place in Charleston's Upper Peninsula district," said Jeff Harris, Quarterra Division President, Carolinas. "Cormac will provide thoughtfully designed homes with first class finishes and state of the art amenities. The ground floor retail will bring attractive retail and dining offerings right to our residents' doorstep in addition to the existing retail offerings within the neighborhood."

Situated at 1310 Meeting Street Road, Cormac is central to regional employment, shopping, dining and entertainment options. The retail shops at King Street, East Bay Street, Historic Charleston City Market, West Edge and Mt. Pleasant Town Center are all a short drive away. Local hot spots such as Butcher & Bee, Edmund's Oast Brewing Company, Home Team BBQ, Revelry Brewing and Brewlab Charleston are just blocks away. Cormac residents will also find themselves in close proximity to several entertainment venues, including Charleston Gaillard Center, Festival Hall, Music Farm, Credit One Stadium, North Charleston Coliseum, TD Arena and Joseph Riley Baseball Park.

Cormac's location on Meeting Street Road (U.S. Highway 52), is less than a quarter mile from Interstate 26, and approximately 1 mile from Ravenel Bridge – which leads to Mt. Pleasant – creating exceptional connectivity to employment centers in Downtown, Mt. Pleasant, and North Charleston. Residents will have access to a controlled-access three-story above-grade parking facility, as well as on-street parking and 19 electric vehicle charging stations.

Cormac will feature studio, one- and two-bedroom apartment homes, highlighted by Nest smart thermostats, keyless entries, and stainless-steel Whirlpool appliances. Custom cabinetry, quartz or granite countertops, hardwood-inspired flooring and pendant lighting will be featured in two distinct design schemes. Homes will also be equipped with tile backsplashes in kitchens, oversized tubs or walk-in showers with full tile surrounds and under-cabinet lighting. Select homes will feature kitchen islands and all homes, with the exception of studios, will include walk-in bedroom closets.

Residents will also enjoy a full amenity lineup which includes an eighth-floor rooftop terrace complete with butler kitchen and spectacular views of Downtown Charleston and the Ravenel Bridge. The fourth-floor features three elevated courtyards – one of which is highlighted by a resort-style pool and clubhouse. The clubhouse will be home to multiple coworking spaces. A state-of-the-art fitness center with a flex fitness/yoga studio, a bike storage room, package lockers, rentable storage spaces and a podcast studio will all be at residents' disposal, as well.

Leasing at Cormac is set to begin Fall 2022.

About Quarterra Multifamily

Launched in 2011, Quarterra Multifamily, previously known as LMC, is among the nation's most active developers, builders and managers. The company is currently the eighth largest U.S. developer, according to the National Multi-Housing Council's (NMHC) annual Top 50 list and has been on the list for seven consecutive years. Quarterra's Multifamily Construction organization, previously known as Lennar Multifamily Builders, has been recognized on the NMHC Top 25 Builder list for five consecutive years and ranked No. 15 in 2021.

Quarterra creates extraordinary communities where people can live remarkably www.Quarterra.com.

About Cresset Real Estate Partners

Cresset Real Estate Partners leverages decades of relationships with industry-leading developers to secure off-market opportunities with advantageous structures. Our flexibility and speed allow us to capture desirable investments. Cresset Real Estate Partners currently oversees a portfolio of more than $3 billion. To learn more, visit www.cressetpartners.com.

Cresset refers to Cresset Capital Management and all of its subsidiaries and affiliates. Cresset Asset Management, LLC provides investment advisory, family office, and other services to individuals, families, and institutional clients. Cresset Partners, LLC provides investment advisory services strictly to investment vehicles investing in private equity, real estate and other investment opportunities. Cresset Asset Management, LLC, and Cresset Partners, LLC are SEC registered investment advisors.

Media Contact
Marlena DeFalco
LinnellTaylor Marketing
303-682-3943
[email protected]

SOURCE Quarterra