Flournoy Acquires Charlotte Parcel, 351-Unit Rental Community on Way

Cousins is foregoing its plans to build a 17-story office highrise and a 19-story apartment building at West Tremont and Doggett in Charlotte, instead selling the parcel to Flournoy so Flournoy can develop it. The Charlotte Business Journal reports that the sale price of the 2.4-acre parcel was $34.7 million. Cousins acquired the property for $18.8 million in 2020.

Flournoy plans to build up to 351 multifamily units, 9,400 square feet of tenant amenities and 12,000 square feet of ground-floor retail space.

The multifamily building will have seven stories and a small subterranean level. It will include a fourth-floor pool deck and tenant amenity area will be built atop the retail space fronting West Tremont Avenue.

Flournoy completed Axis West (photo) and Essex, a ground-up apartment development in Orlando. Construction of Apex Posner Park is underway in the Orlando suburb of Davenport.