Gilbane, Harmony Housing Affordable Development Inc., and F7 International Development Break Ground on 200-Unit Apartment Community in Raleigh

Nearly $58 million public-private investment will create income-restricted homes designed to connect residents with opportunities

Raleigh, NC (October 27, 2026) – Gilbane, in partnership with Harmony Housing Affordable Development Inc. (HHAD) and F7 International Development, today celebrated the groundbreaking of Chapanoke, a 200-unit residential community in Raleigh.

Located at 326 Chapanoke Road, the nearly $58 million development will serve households earning between 30% and 70% of Area Median Income (AMI) and is anticipated to be completed in early 2028. The development will offer 66 one-bedroom, 86 two-bedroom, and 48 three-bedroom apartments, accommodating a range of household sizes.

"Chapanoke means more than new housing, it represents hope, stability, and a real path forward for families who deserve opportunity close to home,” said Yarojin (Roj) Robinson, Senior Vice President of Affordable & Mixed‑Income Housing, Gilbane Development. "When we invest in communities like this, we’re investing in people’s futures. I’m proud of what this partnership is bringing to Raleigh and the doors it will open for residents for generations to come."

“Chapanoke demonstrates what we can accomplish when public and private partners come together around a shared purpose,” said Tanya Eastwood, President and CEO of HHAD. “By creating quality homes connected to education, employment and future transit, we are investing not only in housing, but in greater access to opportunity for residents and the broader Wake County community.”

"As a Southeast Raleigh native, this one is personal. F7 has built in this community for nearly three decades, and Chapanoke puts quality homes within reach of the families who make Raleigh run. With the commercial component, local businesses get a real stake in this neighborhood's growth. We're building something that serves generations to come," said James Monte Montague, President of F7 International.

The development is being advanced through a coordinated public-private financing structure that brings together tax credit equity, private financing, and local public investment. Greystone Real Estate Capital is providing Low-Income Housing Tax Credit equity, while Greystone Housing Impact Investors LP and Citi Community Capital are supporting the project through construction and permanent financing. Wake County and the City of Raleigh are also contributing subordinate public financing, including $7.1 million in gap financing from Wake County. Together, these resources reflect the scale of collaboration required to bring 200 income-restricted homes to the Raleigh community.

Joining Bob Tengen, Director of Development at Gilbane, Zach Popp, Director of Development at HHAD, and James (Monte) Montague, President of F7 International Development, at the groundbreaking event were Don Mital, Wake County Commissioner, and Tom Smith, NC Housing Finance Agency Board Member.

The groundbreaking comes as Raleigh and Wake County continue to experience strong population and employment growth alongside increasing pressure on housing costs. City and regional housing studies have identified insufficient housing supply, household cost burden, and proximity to jobs and transportation as significant challenges. Chapanoke responds by adding 200 income-restricted homes in a location designed to connect residents with opportunity.

Chapanoke reflects years of collaboration among the development team, Wake County, and the City of Raleigh. The project builds on the public sector's vision for the site, including income-restricted housing, sustainable development, transit connectivity, and community-serving amenities.

As construction moves forward, Chapanoke will transform years of planning, land coordination, and financing into a long-term community asset. Chapanoke advances a long-term effort to increase housing supply while connecting residents with education, workforce training, employment and future transportation options. The community is adjacent to Wake Technical Community College's Public Safety Education Campus and near the planned Southern Wake Bus Rapid Transit corridor.

About Gilbane

Gilbane is the trusted leader in end-to-end solutions for the built environment, with integrated expertise across real estate investment, development, full-service construction, and property and facilities management.

Family-owned since 1870, Gilbane is one of the oldest and largest privately held real estate development and construction companies in the world. With more than 45 offices, and 4,000+ employees worldwide, Gilbane pairs global experience with deep community connections to empower clients to move from vision to long-term performance with confidence. Guided by values that put people first and prioritize innovation, Gilbane builds trust, strengthens communities, and is driven by a purpose to boldly shape the world. Learn more at gilbaneco.com.

About Harmony Housing Affordable Development Inc.

Driven by a passion for creating and preserving affordable housing in our nation’s most vulnerable communities, Harmony Housing Affordable Development Inc. is a nationally recognized, mission-driven affordable housing developer specializing in innovative public-private partnerships, preservation, and community-focused development.  To date, the team has developed over 18,500 apartment homes across 14 states with additional units at various stages of the development pipeline. The group’s mission is to create meaningful and significant impacts on communities by providing income-qualified households with decent, safe, and affordable housing. For more information, visit HHAD.org  

About F7

F7 International Development, a Triangle-based, black-owned business, was founded in 2002 with the sole purpose of improving the community and surrounding areas by developing and creating infrastructure; building and constructing commercial properties; and general contracting new residential housing as well as rehabilitating existing homes all to improve and empower the communities F7 serves. James (Monte) Montague, President of F7 International Development and son of Southeast Raleigh, is an Urban Community Property Developer with over 22 years of expertise in low-income communities, and is focused on underdeveloped areas, affordable housing, and business office spaces.

Source: Gilbaneco.