North Carolina Construction News staff writer
National multifamily developer Wood Partners has closed on the Alta Watkins project in Morrisville, N.C., in partnership with PGIM.
The 357-unit rental community is scheduled to break ground this month, with completion targeted by the end of 2028.
Sarah Godwin and Karl Hudson of Foundry Commercial represented the seller in the transaction.
“Alta Watkins’ proximity to the region’s growing life sciences hub positions the community as an ideal home base for professionals, students and families alike,” said Caitlin Shelby in a statement. “With its impressive line-up of amenities, residents will live in an oasis that combines resort-style living with easy access to the Triangle’s leading employers and institutions.”
The development will include a mix of one-, two- and three-bedroom units featuring stainless steel appliances, in-suite laundry, quartz countertops, custom cabinetry, wood-style plank flooring and walk-in closets.
Planned amenities include a resort-style pool, three outdoor courtyards, games areas, a pet spa, fitness centre with sauna recovery lounge, golf lounge and podcast lounge. The property will also offer an on-site retail market, rentable office space for remote work, event space and short-term guest units.
Alta Watkins is located between Research Triangle Park and Perimeter Park, adjacent to a new campus for Wake Technical Community College and near the Spark Life Sciences community and Pathway Triangle Campus.
The project marks Wood Partners’ third development to begin construction in the Raleigh-Durham region in the past year. The company previously broke ground on the 336-unit Alta Bethpage in June 2025 and the 312-unit Alta Durham Summit in September 2025, both in Durham.