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Tuesday, November 10, 2026Commercial real estate news

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RATE WATCHDaily benchmarks 10-year Treasury4.98%+10 bpAs of Nov 10 5-year Treasury4.81%+14 bpAs of Nov 10 SOFR3.88%-1 bpAs of Nov 9 Effective Fed funds3.88%UnchangedAs of Nov 9

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Multifamily development / NEWS

Wood Partners plans 301 apartments on former Duke Health site in Hillsborough

Alta Meadowlands is scheduled to begin construction in November 2026, with completion expected in spring 2028.

Lucas GrantDevelopment & InfrastructureNovember 10, 2026 · 2 min read

A July 25, 2025, aerial photo of the former Duke Health site at 1001 Corporate Drive in Hillsborough, North Carolina, before the proposed apartment development. — A July 25, 2025, aerial photo of the former Duke Health site at 1001 Corporate Drive in Hillsborough, North Carolina, before the proposed apartment development. Photo: USDA National Agriculture Imagery Program · Public domain (USDA NAIP). Cropped to the area shown from the original natural-color USDA aerial survey.

Site and development plans

Wood Partners and GrayCo Capital Advisors plan to begin construction in November 2026 on Alta Meadowlands, a 301-home apartment development in Hillsborough, North Carolina. In its Nov. 10 announcement, Wood Partners projected completion in spring 2028; the release did not report that construction had already started. Wood Partners to Break Ground on 301-Unit Alta Meadowlands in Hillsborough, North Carolina

The developer acquired the site from Duke Health, according to the announcement. Pickett Sprouse Commercial Real Estate brokers Emilee Collins and Mark O’Neal represented Duke Health in the sale. Wood Partners did not disclose a purchase price or an exact closing date. Wood Partners to Break Ground on 301-Unit Alta Meadowlands in Hillsborough, North Carolina

The apartments are planned for the Meadowlands business park. The site is adjacent to the Orange County Sportsplex and near UNC Health’s Hillsborough campus. Wood Partners said it will build a sidewalk connecting the senior housing community behind the site with the Sportsplex. The company also described the property as a short drive from Interstates 85 and 40. Wood Partners to Break Ground on 301-Unit Alta Meadowlands in Hillsborough, North Carolina

Plans call for 146 one-bedroom, 135 two-bedroom and 20 three-bedroom homes. Wood Partners said 10% of the homes will be income-restricted, with an emphasis on workforce housing. It described the project as Hillsborough’s first higher-density apartment community with elevators, as well as the company’s first development in the town and fifth active project in the Triangle. Wood Partners to Break Ground on 301-Unit Alta Meadowlands in Hillsborough, North Carolina

development apartments workforce housing