Steady stream of multifamily developments continues into new year
The Charlotte area’s steady stream of planned multifamily projects has continued into the new year.
One apartment project that broke ground in February will add 310 market-rate units in lower South End. Ohio-based The NRP Group is behind that five-story development — called South Tryon — at 3310 S. Tryon St., just north of Clanton Road. It’s expected to deliver in 2025.
NRP Group, which has stayed active in the Charlotte market in recent years, just wrapped up an affordable-housing community in the Hidden Valley neighborhood in northeast Charlotte. That 180-unit development, called Sundale Flats, is open to residents earning at or below 80% of the area median income.
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And several rezoning petitions recently filed with the city of Charlotte included multifamily plans. Those came in just in time to meet the Jan. 31 deadline to submit rezoning requests under existing rules as the city begins to phase in the unified development ordinance, or UDO, that will take full effect in June.
Elsewhere, another apartment developer active here — Redwood Living Inc. — is nearing completion on several projects across the Charlotte area while starting on a new development in the region. Redwood’s three new projects here — in Charlotte, near PNC Music Pavilion, and in Kannapolis and Troutman — will bring a combined 268 units to the region. It also just started construction on a 154-unit project near Hickory. Redwood, based in Ohio, develops and manages single-story apartment communities.
CBJ’s latest real estate roundup takes a closer look at the residential developments that are planned or underway across the Charlotte area. Check it out here.
(WATCH BELOW: Navigating Charlotte’s top-ranking real estate market)
