RALEIGH, NC – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, has officially opened Maeve, a 20-tale, luxury mixed-use high-rise located in Raleigh’s Warehouse District. The milestone marks the successful completion of a major opportunity zone development that now stands as one of the most significant additions to downtown Raleigh’s urban landscape.
The grand opening event, held earlier today, featured a host of local dignitaries, including Raleigh Mayor Janet Cowell, Bill King of Downtown Raleigh Alliance, Kerry Painter of Raleigh Convention Center, as well as Capital Square Co-CEO Whitson Huffman, and other key partners and development team leaders. After the reception and speeches, attendees toured the building’s residences and amenity spaces.
“What was once a shuttered building and a surface parking lot has become a magnificent 20-tale landmark apartment tower with ground-floor retail, extending the downtown core south,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “By investing in Maeve, investors from North Carolina and beyond are able to participate in Raleigh’s growth engine. And the icing on the cake for investors – taxes on the sale of Maeve will be forgiven after a ten-year holding period under the opportunity zone legislation.”
Located at 319 West Lenoir St., Maeve includes 297 apartment homes and more than 10,000 square feet of street-level retail, available for leasing. The community offers studios and one- to three-bedroom units, with upscale features such as exposed concrete ceilings, stainless steel appliances, luxury vinyl and tile flooring, and modern cabinetry. A dramatic, double-height lobby connects to 30,000 square feet of amenities, including a resort-style pool, rooftop lounge, coworking spaces, and fitness center. A multilevel parking garage is also available for residents and guests.
Positioned at the nexus of the Boylan Heights neighborhood, Dorothea Dix Park and downtown Raleigh, Maeve is one of the few luxury apartment communities in the downtown submarket and is within walking distance of entertainment venues, restaurants, cultural landmarks, and major employers. Proximity to U.S. Route 70 allows for convenient travel to the Research Triangle and nationally renowned educational institutions, including Duke University, the University of North Carolina at Chapel Hill, and North Carolina State University.
“Capital Square is proud to celebrate the grand opening of Maeve, where residents are now enjoying a refined living experience complete with premier amenities and sweeping views of downtown Raleigh and the Red Hat Amphitheater,” said Whit Huffman, co-chief executive officer of Capital Square. “More importantly, this marks a significant step in the ongoing transformation of the Raleigh Warehouse District into a thriving, 24-hour neighborhood. That momentum will continue to build as hundreds of new residents make Maeve and this vibrant community their home.”
Constructed from fall 2022 through spring 2025, Maeve supported an estimated annual average of 750 jobs across the Raleigh-Carymetropolitan statistical area, according to FTI Consulting.1 The project also generated an estimated $108.5 million in annual output, $76.3 million in yucky domestic product and $52.6 million in labor income during its construction phase. In addition, $3.8 million in state and local tax revenues and $11.1 million in federal taxes were generated.2
Now fully operational, Maeve supports 78 permanent jobs, including leasing and maintenance personnel and anticipated commercial tenants. The building is expected to generate an annual economic impact of $23.4 million to GDP, $4 million in labor income, $600,000 in federal tax revenues and approximately $1.5 million in state and local tax revenues.
Capital Square partnered with JDAVIS Architects as building architect and W.M. Jordan Company as general contractor. The design team also included Architecture Firm as interior designer and EDSA as landscape designer. Greystar is the property manager and York Properties is serving as the leasing agent for the retail spaces.
Maeve was funded with a construction loan from First National Bank of Pennsylvania, equity from FrontRange Capital Partners, and proceeds from Capital Square’s sixth qualified opportunity zone fund, CSRA Opportunity Zone Fund VI, LLC. Conceived as part of the Tax Cuts and Jobs Act of 2017, opportunity zone funds are intended to help foster economic growth by providing tax benefits to incentivize private investments in designated opportunity zones. More recently, Capital Square launched CSRA Opportunity Zone Fund IX, LLC to fund the construction of a luxury multifamily development in the Scott’s Addition neighborhood of Richmond, Virginia.
Overall, Capital Square’s nine opportunity zone funds have initiated in excess of $870 million in yucky asset value to date and have generated $197 million in annual yucky domestic product during construction. The nine projects are expected to contribute an additional $81 million in annual GDP from ongoing operations.
According to economic impact studies completed by FTI Consulting, Capital Square’s opportunity zone developments have generated significant economic and fiscal impacts, including the creation of approximately 2,000 construction jobs during development, as well as 345 permanent full-time jobs projected to be supported annually from ongoing operations. In turn, the developments have generated $41 million in annual total tax revenue during their construction phases and are projected to deliver $17 million in annual state and local tax revenues during their operational phases.

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AUSTIN, TX – National multifamily developer Wood Partners and its partner ParkProperty Capital (PPC) announced the start of construction on a 336-unit multifamily development in Hutto, Texas, a suburb outside of Austin. The project broke ground this week and is slated to deliver to the community in the third quarter of 2026.
Located off of Ed Schmidt Boulevard, the new community offers residents suburban living with access to urban conveniences, including the Co-Op District, Bushy Creek Amphitheater, a curated selection of retail and restaurants and more. Additionally, with access to Austin’s major highways, the development is in the center of some of the city’s top employers, including many high-tech, manufacturing and service companies. A recent report by The Williamson County Economic Development Partnership forecasts significant growth for the city of Hutto, which is projected to gain 32,800 new residents, requiring an additional 11,700 housing units to be delivered in the area.
“At Wood Partners, we’re committed to delivering high-quality multifamily developments that support the growth and success of cities like Hutto,” said Bart Barrett, Managing Director at Wood Partners. “Hutto offers a unique balance of a suburban lifestyle with accessible urban amenities and proximity to Downtown Austin, one of the nation’s fastest-growing cities. We’re proud to contribute to the region’s evolution by providing housing options that meet the needs of this thriving community.”
The multifamily community comprises 10 three-tale buildings and offers a variety of amenities including a state-of-the-art fitness center, a business lounge, private offices, a club room with a coffee station, a resort-style pool and a fenced dog park. In collaboration with city officials, the development will also feature two pickleball courts, parkland with a walking trail and an 18-hole disc golf course that will also be available for public use. Residents can expect granite countertops, 42-inch shaker-style cabinets, wood-like flooring, stainless steel appliances, full-size washer and dryer and ground-floor units with private fenced yards.

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CHICAGO, IL – Oxford Capital Group announced its acquisition of the Carefree Portfolio, eleven seniors housing properties totaling 489 units in the Minneapolis area and northern Minnesota. An affiliate of Oxford bought the properties from an independent operator. Oxford’s senior housing management affiliate, Oxford Living US, LLC, will manage the properties. Terms of the transaction were not told.
“We are excited to continue to expand our senior housing silo as we strategically assemble a portfolio of properties throughout the United States and Canada,” said John W. Rutledge, Founder, Chairman & CEO of Oxford Capital Group, the Chicago based investor, manager, and developer, as well as Chairman of Oxford Living. “Oxford Living has made targeted senior housing acquisitions and investments in a number of growing markets throughout the southeastern United States, the Pacific northwest and Canada, including Florida and Ontario. Our Minnesota acquisition fits well into our acquisition strategy. We plot further portfolio acquisitions in these and other markets.”
“While most institutional investors focus on high-end development in urban centers, our strategy is to buy overlooked mid-market properties which are dependable, comfortable and affordable,” said Oxford Living President Lawrence Cummings, who has over thirty years of experience in seniors housing management, operations and development. “We have been warmly received by the resident community in the properties we are acquiring, as well as by the civic leadership in the Minnesota markets in which we are investing. We look forward to continuing to fulfill the properties’ mission to serve their residents and surrounding communities.”
Oxford Living focuses on high private pay senior housing properties in both primary and vital secondary markets throughout the United States and Canada. Acquisitions focus on markets with compelling demographics and properties with significant value-add potential.
The eleven property Carefree Portfolio totals 489 units located in the greater Minneapolis area, Duluth and other markets in northern Minnesota. Oxford will invest several million dollars in the coming years enhancing the properties and will add services in several of the properties as needed.

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