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SunCap Acquires Property for Charlotte Mixed-Use Development
SunCap Property Group has purchased 1.64 acres in Charlotte’s Dilworth neighborhood for $13.75 million for a planned 300,000-square-foot mixed-use development. The purchase includes a building housing Starbucks at 1401 East Blvd., 4244 Scott Ave., 1405 E. Blvd., 1718 Fountain Drive and the Key Man Building at 1409 East Blvd.
The planned $90 million project includes up to 300 residential multi-family units plus 20,000 square feet of office space and 15,000 square feet of retail space.
SunCap previously filed a rezoning application in March, which was approved in May, to allow for the residential units. Once construction is underway, it is expected to take about a year and a half for the project to be delivered.
SunCap has made a significant investment in Charlotte, with developments including Draper Place Townhomes, Draper Place, 550 South, and MoRA Point.
- ◦Sale/Acquisition



