Rocky River is a 1,120 single-family home community with amenities, being developed by Kolter Homes. This Cresswind community is an age-restricted, 55+ active adult community in Locust, North Carolina, about 45 minutes from Charlotte, North Carolina.
Rocky River follows 13 successful Cresswind communities developed by Kolter Homes, including Twin Lakes Georgia. Each of these projects is either completed or currently under construction, with more than 5,800 homes already built and turned over to buyers. Kolter Homes has proven experience delivering single-family home communities on time and on budget. Rocky River will build on this successful track record.
Construction Progress
An Exceptional Rural EB-5 Project with a Proven Business Model
A Wealthy Target Market Unaffected by Elevated Interest Rates
Learn More about the Rocky River EB-5 Project
Construction Progress
In March, crews successfully wrapped up sewer installation on the north side, continued mass grading and storm drain installation, and initiated fine grading. Work also began on grading the south side, setting the stage for further development. Rock blasting operations commenced on the south side on March 25, paving the way for additional site preparation.
In early April, sewer installation on the south side commenced. Meanwhile, construction has continued to progress steadily on both sides of the site, with several key milestones reached. On the north side, mass grading is now roughly 85% complete, and fine grading has advanced to about 50%. The sewer main and laterals have been fully installed, while the storm drain system stands at about 80% completion. Additionally, the forced main has been successfully put in place, ensuring improved service capabilities upon project completion.
Looking ahead, April’s objectives include finalizing fine grading on the north side, pouring curbs, installing the water main, and preparing roadbeds for stone placement. Concurrently, efforts will focus on ongoing rock blasting and continuing sewer installation on the south side. Both the land development contractor, Lewis Construction, and the civil engineers at Merrick are collaborating diligently to ensure each phase adheres to design standards and local regulations.
An Exceptional Rural EB-5 Project with a Proven Business Model
Kolter is one of the 20 largest private home builders in the United States. Since its founding in 1997, Kolter has invested in real estate projects totaling over $30.0 billion in value and has developed thousands of single-family homes across the Southeast.
Over its more than 25-year history, Kolter has borrowed billions of dollars and has never failed to repay a loan. All EB-5 investments in Kolter projects are in good standing or have been repaid.
Kolter has extensive experience developing single-family home communities through its business unit, Kolter Homes. It has already developed two other successful Cresswind communities for active adults in the greater Charlotte area: Cresswind Charlotte and Cresswind Wesley Chapel.
Cresswind Charlotte celebrated its 600th home closing in July 2024, highlighting the high demand for active adult communities in the area. Similarly, Cresswind Wesley Chapel features 601 home sites and several state-of-the-art amenities.
Only a 45-minute drive away from Charlotte, the Rocky River project is poised to replicate the success of these nearby Cresswind communities. The Rocky River community will include 1,120 homes for 55+ adults, complete with the lifestyle features and luxury amenities that have made the Cresswind brand so successful throughout the Southeast.
A Wealthy Target Market Unaffected by Elevated Interest Rates
Rocky River is targeting a fast-growing and affluent buyer segment—aging baby boomers. With an industry average move-in age of 72, the active adult segment sits at the forefront of the baby boomer wave. Historically, 55+ age-restricted communities command strong premiums over market-rate housing. Moreover, because residents are typically homeowners with significant equity in their previous homes, they have greater purchasing power.
Baby boomers are the wealthiest demographic in the United States, owning a reported $18 trillion in housing wealth—more than triple that of millennials. With ample savings and home equity, many of these seniors make substantial down payments, and often buy new homes in cash. Because Rocky River strategically targets these buyers, it will remain resilient despite elevated interest rates.
Learn More about the Rocky River EB-5 Project
For more information on the Rocky River project and the EB-5 program, we invite you to schedule a free consultation with EB5AN.
