Zen garden, coworking, pet spa: What the latest Cary apartments with perks will cost you
As the number of affluent renters jump in Cary, luxury-apartment developers are heeding the call.
From pet spas, ‘Zen’ gardens, and co-working spaces to 24-hour emergency maintenance, they’re racing to offer the latest “must-have” amenities to lure those residents opting to rent longer.
Case in point: Bainbridge Cary, a newly opened 259-unit apartment community at 9205 Chapel Hill Road. It’s offering one, two, and three-bedroom apartments ranging from 692 to 1,583 square feet.
Rents range from $1,640 for one-bedroom units to $2,665 for three-bedroom units, according to the company’s website.
Among the amenities: 24-hour fitness center, saltwater pool, private day offices, “collaboration island,” electric-car charging station, clubhouse, dog park, pet spa and game room, to name a few.
“We strive to provide luxury and convenience alike,” said Bob Thollander, president of development at Florida-based The Bainbridge Companies.
Given its proximity to the Research Triangle and downtown Raleigh, Cary is a “strategic location,” he added.
Cary’s explosive growth
Cary is one of the fastest growing inner suburbs as companies and developers flock to the area.
Some 10,922 apartments are on track to be built in the Raleigh-Cary metro area by year’s end amid a post-pandemic construction boom.
That’s a six-year peak, surpassing large hubs like Seattle and San Francisco, according to new report from the listing service RentCafe.
But as land becomes scarcer, it’s getting pricier and more exclusive.
Cary saw its number of affluent renters – those with annual incomes over $150,000 -- jump by 90% between 2015 and 2020, a separate RentCafe study found.
The city reached a high of 2,388 well-off renter households in 2020 compared to 1,258 just five years earlier.
High listing prices and mortgage rates are keeping many would-be homebuyers in the rental market, say experts. For others, it’s more of a “lifestyle choice.”
Currently, Cary’s overall median rent stands at $1,395 for a one-bedroom apartment and $1,598 for a two-bedroom apartment, according to Apartment List. That’s down 2.9% year over year.
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