Hathaway Development Announces New Apartment Development in Fayetteville, North Carolina
Press Release

Atlanta, GA (November 2011) — Hathaway Development Partners, LLC closed on an acquisition and construction loan for a multi-family development located on Andrews Road in Fayetteville, North Carolina. The senior debt was provided by AFB&T, a division of Synovus Bank.

The principals of Hathaway, David Hathaway and Mike Muggridge, are extremely pleased to see conventional financing beginning to come back in order to satisfy the demand for quality rental units in the southeast.

The project, to be named Ansley at Patriot Park, will consist of 192 luxury apartment units located on 19.67 acres of land along Andrews Road in Cumberland County. Groundbreaking is estimated to begin in January 2012 with a completion in March 2013. Leasing is scheduled to begin in the fall of 2012. The multifamily complex will offer 1, 2, and 3 bedroom floor plans featuring 9-foot ceilings with crown molding, walk-in closets, spacious balconies/patios with storage, microwaves, and sunrooms. Property amenities include a clubhouse, fitness center, cyber café, resort-style saltwater pool, poolside wireless internet, volleyball court, gated access entrances, and a car-care center. The value of the development at completion will be approximately 20 million dollars.

About Hathaway Development Partners, LLC
Hathaway Development Partners, LLC is an Atlanta based development firm focused on multi-family development and acquisition throughout the Southeastern United States. Over the past 15 years, Hathaway has developed and built over 12,000 units in 9 states. By focusing on a variety of markets, Hathaway has positioned itself to appeal to a wider range of investors and at the same time worked through inevitable, challenging market changes. Hathaway’s primary objective is to provide the highest yield to its investors, while focusing on the desires and expectations of its residents in each community.