Jane Wu, a Charlotte investor who is using a new, visa-based financing model for her development, shown here at her development site at 6919 N. Tryon Street, a site along the Lynx Blue Line extension in the University City area where Wu is building an apartment complex. Diedra Laird dlaird@charlotteobserver.com
Jane Wu, a Charlotte investor who is using a new, visa-based financing model for her development, shown here at her development site at 6919 N. Tryon Street, a site along the Lynx Blue Line extension in the University City area where Wu is building an apartment complex. Diedra Laird dlaird@charlotteobserver.com

Development

What’s new in commercial and residential real estate in the Charlotte region.

Development

New apartment building breaks ground along the Blue Line extension

February 04, 2016 01:32 AM

UPDATED February 04, 2016 03:54 PM

Developers broke ground this week on a new apartment complex planned for the Blue Line extension, part of a boom following the light rail’s route.

Carolina States Regional Center is building 376 apartments on a 16-acre site at North Tryon Street and the Interstate 85 connector road. The company, led by developer Jane Wu, has raised part of its funding from Chinese investors through a visa program that allows them to get green cards for a $500,000 investment.

The new apartments will be accessible by foot from the light rail extension, which will run from uptown to UNC Charlotte and is set to open in late summer 2017. The apartments should open in spring 2017, and will include a swimming pool and a clubhouse.

Never miss a local story.

Sign up today for a free 30 day free trial of unlimited digital access.

For more on the EB-5 visa investment process, check out this story I wrote last year about Wu and her project: “A visa, for a price: Charlotte developer raises funds with little-known immigration program.”

And if you want to read about the 1,900 new apartments and other development coming to the light rail line, check out my column from a few weeks ago here: “Along the Blue Line extension, new developments are taking shape.”

Ely Portillo: 704-358-5041, @ESPortillo