East West Capital has acquired a 5.5‐acre townhouse development project in South Asheville on Winterhawk Drive. The project includes 4 completed townhouses as well as completed roads, utilities and other infrastructure.
“We think this is a great opportunity to relaunch a project that already contains some beautiful homes.” said David Moritz, Managing Partner. “The location near Airport Road, Hendersonville Road, Long Shoals Road and I‐26 make this a very desirable place to live.”
This is the fifth bank-owned project that EWC has acquired in the Asheville area.
“Asheville is a top place to live and work, and this is an attractive project we’ll reposition to create value. We’re delighted to be able to develop desirable neighborhoods to live in, such as this one on Winterhawk Drive.” said Brian Nelson, Managing Partner.
Winterhawk Drive is 2 miles from the Asheville Airport, 4 miles from the new Sierra Nevada Brewery and 4 miles from TC Roberson High School.
The original project, named Winterhill, consisted of a plan to build 20 townhouses, of which 4 were ultimately completed. The sites for the remaining 16 town homes are connected to the roads and utilities. EWC will consider whether to complete the project under the existing townhouse plans or whether it would be best suited for single-family homes.