Charlotte’s “The Colony” Adding $180M Apartment Community
A Charlotte developer is optimistic it can move forward on its $180 million apartment building. Synco, who helmed The Colony mixed-use development in SouthPark hopes to build a 14-story building that will be part of its third phase, consisting of 650 units. The Charlotte Business Journal reports Synco wants to go higher than the current code allows and needs the city’s okay to proceed.
Phase one, a five-story multifamily building with 340 units, delivered in spring 2022. It’s about 80% leased.
The remaining multifamily buildings are part of the ongoing mixed-use project that includes 990 total residential units, 55 of which will be affordable housing, as well as a 200-room luxury hotel, up to 300,000 square feet of retail space anchored by a Publix grocery store, 200,000 square feet of office space and 3.5 acres of open green space. Synco expects the Publix store to commence construction soon.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.