With $47M financing, company launches construction project along Swamp Rabbit Trail

A Miami-based real estate development and investment has launched construction on “Venture on the Trail,” a 222-unit garden-style multifamily community in Greenville.

Located at 301 Alston St., the development marks the first phase of 13th Floor Investments‘ “On the Trail” mixed use development on 250 acres fronting the Prisma Health Swamp Rabbit Trail.

CIBC provided $47 million in construction financing to kick-start the project’s development, which is now under construction and slated for completion in 2027.

“Venture On the Trail marks the first step in bringing this site into active use for the community,” David Resnick, chief investment officer of 13th Floor Investments, said in a news release. “With direct access to the Swamp Rabbit Trail and a strong amenity offering, the project brings hundreds of new residences to a location where demand for connected, lifestyle-driven housing continues to accelerate. We’re also pleased to continue our relationship with CIBC as we expand our development activity across high-growth markets throughout the Southeast.”

Apartments at Venture on the Trail will range from studios- to three-bedroom units measuring between 600 and 1,350 square feet. Residence features will include modern kitchen finishes such as quartz countertops, stainless steel appliances with front control ranges, and shaker style kitchen cabinets.

Community amenities will include a standalone clubhouse, a resort-style pool, two pickleball courts, co-working spaces, a fitness center, and an oversized bike room, with direct access to the Swamp Rabbit Trail.

On the Trail’s initial residential phase represents the first step within a larger vision for the site, according to the developer. The property is entitled to accommodate a mix of residential, commercial, retail and hospitality uses, with future phases currently in planning. Plans for the broader development also include key infrastructure improvements designed to enhance connectivity and accessibility, including a proposed elevated pedestrian bridge across Blue Ridge Highway as part of the recently awarded RAISE Grant, which will strengthen access between the site, surrounding neighborhoods, and the trail system.

Originally part of the former Union Bleachery Mill site, the property has undergone extensive environmental remediation, entitlement work and site preparation over several years, according to the release. Final cleanup efforts are nearing completion, clearing the way for vertical construction of the first residential phase.

“In Greenville, the Swamp Rabbit Trail has become one of the city’s most defining lifestyle drivers, with residential demand increasingly oriented around proximity to the trail,” Resnick said in the release. “Our property’s direct frontage along the trail offers a level of access and connectivity that is highly sought after, positioning Venture on the Trail as a compelling place to call home.”

Greenville has emerged as one of the fastest growing markets in the Southeast, with Greenville County alone growing by approximately 11% since 2020, according to U.S. Census Bureau estimates, driven largely by in migration from other U.S. markets. This sustained population growth, combined with a strong and diversified employment base anchored by advanced manufacturing, health care and technology, is driving demand for new housing, particularly in locations that offer connectivity, access to outdoor amenities, and quality of life, according to the developers.

13th Floor Investments is a real estate investment, management and development firm with a geographic focus on Florida and the Southeast. The company has managed more than $ 6 billion in real property, with over 70 investments to date.