Canyon Partners Real Estate LLC and The NRP Group have created a joint venture for the development of the Abernethy Lofts, a 392-unit, Class A multifamily community in North Davidson (NoDa), the arts and entertainment district of Charlotte, North Carolina.
Abernethy Lofts will total 344,339 square feet and include an extensive amenity package with a resort style pool, a large outdoor area with private dining, pizza and grilling stations, work-from-home conference pods, a state-of-the-art fitness center and a large dog park. The community will have structured parking for 509 spaces and a garage with branded electric bikes.
Canyon, which is the real estate direct investing arm of the global alternative asset manager Canyon Partners LLC, provided $35.9 million of LP equity for the development, which is in a qualified opportunity zone. Construction of the community will begin immediately and is expected to be completed in the second quarter of 2026.
This is the second collaboration this year between Canyon and NRP, a multifamily property developer and owner/manager – the companies teamed in February for the development of South Tryon, a residential community in Charlotte’s South End.
“Since our first development in the NoDa neighborhood over five years ago, we have recognized the incredible opportunities and amenities readily available to residents in this area,” said Jason Mochizuki, vice president of development at NRP. “We are proud to partner with Canyon for the fourth time in the Charlotte market to continue creating highly desirable rental opportunities in a location that offers connectivity and convenience.”
Photo: The intersection of N. Davidson St. and E. 36th St. in NoDa, courtesy Escapist606 / Wikimedia Commons