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Watermark Acquires Land for Charlotte Apartments
Watermark Residential, a wholly-owned affiliate of Thompson Thrift, acquired 15.9 acres in Charlotte for the development of Taylor Farms by Watermark. The resort-style apartment community will include eight three-story, garden-style structures with wood frame construction and 64 detached garages. Construction will begin in March 2021 and is scheduled to be complete in February 2023.
Tyler Sauerteig, director of land acquisitions, southeast for Watermark Residential, said, “The Charlotte market has seen consistently compelling job and population growth, making it one of the strongest multifamily markets in the country. Steady rent growth and tight market occupancy indicate continued demand for apartment communities, such as Taylor Farms by Watermark.”
Located just off of I-485 and Mallard Creek Road in the University City submarket, Taylor Farms by Watermark will include 276 one-, two- and three-bedroom apartment homes with an average size of nearly 1,000 square feet.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
