Oppidan Opens Two New Affordable Housing Communities in Raleigh

 Reflects Oppidan’s commitment to expanding access to housing amid increasing regional demand

Raleigh, N.C. – (April 23, 2026) – Oppidan Investment Company, a national property development firm headquartered in Excelsior, Minn., celebrated the ribbon cutting of two new affordable housing communities in Raleigh, N.C.: The Pines at Peach and Birch & Branch. 

The two communities collectively represent Oppidan’s expanding commitment to delivering high-quality, accessible housing options in rapidly growing markets. These communities are each designed to serve residents across a range of income levels while enhancing connectivity to essential services, transportation and community amenities.

“Affordable housing is one of the most pressing challenges facing communities today,” said Noah Wagner, Oppidan Vice President of Development. “These developments reflect our commitment to being part of the solution, bringing together strong public-private partnerships to create housing that is both attainable and thoughtfully designed.”

Community Highlights

Birch & Branch

Located at 3470 Overstory Circle, Birch & Branch is a $49 million development featuring 180 one-, two- and three-bedroom apartments for families earning between 30 percent and 70 percent of the area median income (AMI). 

The community offers residents walkable access to nearby amenities including a grocery store, daycare, school, community center and restaurants. On-site amenities include a clubhouse, fitness center, computer room, playground and outdoor gathering spaces. 

Financing included Low Income Housing Tax Credits (LIHTCs) allocated by North Carolina Housing Finance Agency and Tax Exempt Bonds from Raleigh Housing Authority, and a gap loans from both the City of Raleigh and Wake County.  Other financing included tax credit equity from CAHEC and construction & permanent term financing from Merchants Bank and Freddie Mac.

Birch & Branch was designed by Moore Hocutt, engineered by VHB, constructed by Mills Construction, and professionally managed by Excel Property Management.

Pines at Peach

Located at 3000 Stone Grove Road in South Raleigh, this $34 million development includes 119 one-, two- and three-bedroom apartments reserved for low-income renters at 30% and 60% of AMI. The community is situated in a highly desirable and rapidly growing area with direct access to key neighborhood amenities. 

Residents benefit from proximity to the Peach Road Cultural Center, Peach Road Park and the future South Saunders Bus Rapid Transit Corridor, enhancing access to jobs, services and recreation. 

Financing included Low Income Housing Tax Credits (LIHTCs) allocated by North Carolina Housing Finance Agency and Tax Exempt Bonds from Raleigh Housing Authority. The City of Raleigh entered into a ground lease agreement for the land, a public private partnership for a new road extension, and provided a gap loan to the project. Other financing included tax credit equity from Aegon and construction & permanent term financing from Ready Capital.

The project was designed by Cline Design, Civil engineering by BGE, and constructed by KMW Builders. Excel Property Management serves as the property manager.

Since 1991, Oppidan has continued to command attention in the commercial development industry, growing into a nationally recognized company for its development, construction and project management, and asset management services in the retail, industrial, commercial, residential, senior housing, affordable and mixed-use markets.

Additional Affordable Housing in Development

Oppidan is currently constructing its third affordable housing community in Raleigh – Barton Oaks, located at 13120 Strickland Road.

For more information, visit: Oppidan.com

About Oppidan Investment Company

Since 1991, Oppidan Investment Company has grown into a nationally recognized real estate development company, successfully developing more than 615 projects valued in excess of $6.4 billion and spanning 32.7 million square feet throughout 43 states and parts of Canada. Oppidan provides development, construction management, property management, asset management, and capital markets services to the senior living, industrial, data center, mixed-use, multi-family, affordable, and retail markets. Headquartered in Excelsior, MN, with regional offices in Raleigh, NC, and San Jose, CA, Oppidan’s client list includes Duluth Trading Company, Northern Tool, Cub Foods, Target, Sprouts, Ebenezer Management Services, Watermark Retirement Communities, General Electric, Caliber Collision, Rockpoint, HSRE, Kayne Anderson, IPI, and Bailard. Oppidan has also been named a Best Places to Work by Minneapolis/St. Paul Business Journal four times. To learn more about Oppidan, visit www.oppidan.com.