Atlanta & Southeast + Carolinas + Apartments | January 11, 2023

Trammell Crow Residential has paid $8.9 million for a 21.34-acre development site located in Charlotte, NC for 348-unit multifamily community.

Trammell Crow Residential Pays $9M for Multifamily Development Site in Charlotte

Trammell Crow Residential has paid $8.9 million for a 21.34-acre development site located in the Ashley Park corridor of Charlotte, NC. The project multifamily real estate developer Trammell Crow Residential’s fifth development in the Charlotte MSA and will consist of 348 market rate garden-style apartment units.

The site consists of six parcels zoned for multifamily development between 17 to 22 dwelling units per acre. The site is located north of the planned LYNX Silver Line light rail extension.

Eric Liebich and Ron Corrao of Capstone Companies facilitated the sale on behalf of the seller and sourced Trammell Crow Residential.

“It has become increasingly more difficult to find zoned and entitled multifamily land in the Charlotte MSA outside of Uptown and South End,” said Liebich. “The in-place zoning paired with the site’s convenient access to the main thoroughfares of Wilkinson Blvd and the I-77/I-277 highway loop make this an ideal site for multifamily development.

Connect

Inside The Story

Capstone Companies' Liebich

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.