Developers are planning more than 1,000 new apartments in Charlotte in the latest wave of building, and this newest group is a bit different than some of the recent construction.
Recently filed rezoning plans show four large apartment communities are planned. But these aren’t high-rises like the Museum Tower apartments atop the Mint or Ascent next to Romare Bearden Park, or the five-story apartments built around a parking deck that have sprung up along the Blue Line light rail.
All of the latest proposals are for apartments with surface parking in suburban locations outside of the city center. They reflect developers looking for cheaper sites to build, as many of the most expensive sites have been gobbled up and land prices continue to rise. And surface parking is a much cheaper option to build than parking decks, which add millions of dollars to the cost of a project.
Here’s a quick look at the new proposals. Charlotte City Council will hold hearings on these and vote on them in the coming weeks.
▪ Odell School Road: Just north of the Mallard Creek Church Road and Interstate 485 interchange, a Georgia-based developer is planning 234 apartments.
The site is vacant and wooded, and it’s just south of the Cabarrus County line. Davis Development is behind the proposal, which covers a site that’s almost 20 acres.
▪ Albemarle Road: Just west of and adjacent to the I-485 interchange, a 67-acre site is targeted for a major new development. In addition to office and retail space, the development would include 75 single-family houses and 350 apartments.
The vacant site near the major new Cresswind retirement community which will include hundreds of houses on the other side of I-485. Called Lemmond Farm, the new development is on land owned by J.S. Helms Family Properties, which is petitioning for the rezoning.
▪ University City: At 11030 David Taylor Drive, just off West Mallard Creek Church Road, a developer is planning to build up to 260 apartments. The almost 12-acre site is next to a subdivision of single-family homes and a retail center.
Rezoning documents show Pennsylvania-based High Real Estate Group is the developer behind the plan.
▪ North Charlotte: On West Sugar Creek Road just south of I-85, a company affiliated with Crosland Southeast is planning a development on almost 10 vacant acres.
The plan would include up to 180 apartments, a maximum of three stories tall.