Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Developer Trio Proceeding with Brooklyn Village Affordable Apartments
BK Partners is moving ahead on its affordable housing project in Brooklyn Village in Charlotte. The Charlotte Business Journal reports the company, along with Peebles Corp and Conformity, is working on a $103 million project that will consist of 250 affordable multifamily units across two buildings, 9,018 square feet of ground-floor retail and 175 parking spaces. The apartment mix would include studio, one-, two-, and three-bedroom units.
The project would have 70 units priced for households making 30% of the area median income, 30 units at 50% AMI, 42 units at 60% AMI, and 108 units at 80% AMI.
Later phases of Brooklyn Village are planned for 5.43 acres at Marshall Park, at 303 S. McDowell St., and the 5.91-acre former Charlotte-Mecklenburg Schools Board of Education site at 701 E. Martin Luther King Jr. Blvd. According to the county, the land purchase for phase 2 will cost BK Partners $17.5 million, and phase 3 will be $5.9 million.
- ◦Development
