Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) (“BRG” or “the Company”) announced today that it has acquired, through a joint venture, a 204-unit Class AA new construction apartment community known as Whetstone Apartments (“Whetstone”) in Durham, North Carolina.

Kannapolis City Manager Mike Legg presented the proposed Fiscal Year 2016 budget to the Kannapolis City Council Wednesday evening. The proposed FY 2016 Total Budget is $59,539,383. The budget calls for a three cent increase in the property tax rate to cover the cost of acquiring downtown properties, investments in economic development and job creation, implementing a strategic plan for revitalizing the downtown, paying for the new City Hall and Police Headquarters, and establishing the Department of General Services

Drawbridge Realty has acquired a single-story, 86,895 sq. ft., Class "A" office building located at 1015 Swabia Court, Durham, North Carolina for $14.75 million. The property is a 100% triple net (NNN) leased to Nimble Storage, Inc. (NYSE:NMBL) and serves as one of the company's three worldwide headquarters locations.

Reflecting on how years of strategic planning and fiscally responsible actions created a tipping point for this year’s budget, City Manager Thomas Bonfield presented the FY 2015-2016 preliminary budget earlier this evening – which includes no property tax increase – keeping the current tax rate at 59.12 cents per $100 of assessed property value.

Governor Pat McCrory, N.C. Commerce Secretary John E. Skvarla III and the Economic Development Partnership of N.C. announced today that Asbury Carbons, Inc. will locate a new facility in Robeson County. The move will create 25 new jobs during the next three years with a company investment of more than $8 million in Lumberton.

Three subsidiaries of North Carolina-based Duke Energy Corporation, the largest utility in the United States, pleaded guilty today to nine criminal violations of the Clean Water Act at several of its North Carolina facilities and agreed to pay a $68 million criminal fine and spend $34 million on environmental projects and land conservation to benefit rivers and wetlands in North Carolina and Virginia.

U.S. Senator Richard Burr (R-NC) released the following statement in response to the meeting between officials from the Agency for Toxic Substances and Disease Registry, officials from the Veterans Administration, representatives from North Carolina’s elected official’s offices and members of the community. The meeting took place in Greensboro and focused on the ongoing effort to convince the VA to rely on the most recent and credible body of science that confirms the drinking water at Camp

Last night, Congressman Walter B. Jones (NC-3) voted for H.R. 1732, the Regulatory Integrity Protection Act of 2015, which would block the Obama administration’s Environmental Protection Agency (EPA) from putting into effect its proposed Waters of the United States rule (WOTUS). The proposed rule would give the EPA authority to regulate practically any body of water they want, including ponds and drainage ditches on privately-owned land

“The EPA wants to regulate our mill ponds, irrigation ditches and creeks. This is a tremendous threat to our private property rights, which is why I voted to protect North Carolina’s farms and dam up the EPA’s out-of-control regulatory agenda.”

Capitol City Homes, a new home builder serving Raleigh, North Carolina and surrounding areas, is the recipient of the 2015 Major Achievements in Marketing and Excellence (MAME) award for Best Outdoor Space at an awards ceremony on April 30, 2015. The MAME awards are presented as the highest honor given by the Home Builders Association of Raleigh-Wake County.

Rep. Virginia Foxx, R-N.C., today voted in favor of legislation that would require the Obama administration to withdraw its flawed “Waters of the United States” rule, which would negatively impact North Carolina farmers and landowners

Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) (“BRG”) today announced that its Board of Directors has approved an investment of approximately $13.7 million in a joint venture that will acquire a 204-unit Class AA multifamily project known as Whetstone Apartments (“Whetstone”).

Hampton Pitts, a veteran Raleigh real estate executive, recognized for managing top homebuilding organizations and developing distinctive residential communities, has been named a partner and Chief Operating Officer of LStar Management, a privately held real estate investment firm based in Raleigh, North Carolina.

Durham residents interested in issues regarding the finance and development of affordable housing near future light rail transit stations should mark their calendars now to attend a workshop later this month

Institutional real estate investment manager American Realty Advisors has announced that its ongoing strategy to boost sustainability throughout its national portfolio has had a substantial effect on water consumption for its office property South Tryon Square, located at 201 S. Tryon in Charlotte, North Carolina.