Capstone Companies, a commercial real estate brokerage, announced May 5 Lincoln Avenue Capital, an affordable housing developer based in Santa Monica, California, has purchased 5.04 acres in Greenville for an undisclosed sum.
Consisting of six parcels at 130 Prospect St., the property will be used to develop The Dunean Mill Townhomes, a 60-unit, infill townhome community.
“We’re excited to get started on our first project in the Greenville MSA,” said Lincoln Avenue Capital Regional Project Partner Rusty Snow. “The site’s proximity to many of the major employers in and around Grenville drew us to this location, and there is high demand in the submarket for a thoughtfully designed, attainable rental community.”
The project is slated to break ground in late 2023.