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Peters Tract Multifamily Development Site

Posted: 9/6/2023
275 Units
24.78 Acres
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Peters Tract Multifamily Development Site


About Peters Tract Multifamily Development Site

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 25-acre, Peters Tract development opportunity located in Aiken, South Carolina. Situated adjacent to Aiken Elementary School, Peters Tract is approved for a 275-unit apartment community giving developers the chance to contribute to a 59-acre PUD. The land is positioned near the redevelopment of Aiken Mall, which will transition to a live, shop, play district that will spur future development in the coming years as new residents flock to the area. The submarket is attracting a stronger demographic base more than ever, with average household income of $93.9K, 70% White Collar Workforce, and 46% of residents hold a bachelor’s degree or higher within a 3-mile radius. Rental rates have surged over the past 5 years, realizing a 27% uptick. Peters Tract is poised to reward developers on a continued path of growth as vacancies trend downward and rental rates surge during the massive migration to the Sunbelt region.