Source: WSOCTV —
Charlotte’s pipeline of multifamily development kept growing in July.
Included in that mix were a couple of property acquisitions for new apartment projects in the South End area as well as in parts of Charlotte farther from center city. Ram Realty Advisors, for instance, will bring more than 250 apartments to 421 W. Tremont Ave. with its acquisition of 2.6 acres, while a joint-venture group consisting of FCP, Abacus Capital and Big Cypress Capital just snapped up 6.7 acres for the multifamily piece of a new microdistrict it’s creating in the Wilmore neighborhood.
Elsewhere in Charlotte, a joint-venture partnership between Evolve Communities, Hawthorne Residential Partners and Midway Investors bought nearly 37 acres in southwest Charlotte to develop a 340-unit apartment complex, and Trammell Crow Residential closed on a 9.2-acre site in east Charlotte for a multifamily project with some workforce housing units.