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Work Underway on Charlotte Mixed-Age, Mixed-Income Apartments
Multifamily residential developer Laurel Street started work on Springhouse Square, a new mixed-income, multi-generational apartment development located at 3800 Shamrock Drive in east Charlotte. The first units will be available by spring of 2025, and the project will be fully delivered by the end of 2025.
The 10-acre Springhouse Square includes three different apartment communities offering a range of housing options for families and seniors of all incomes. With 236 total apartments, Springhouse Square will provide 136 affordable units ranging from 30% AMI to 80% AMI, as well as 100 market-rate units.
The total development cost of Springhouse Square is approximately $68 million.
City of Charlotte Housing Trust Fund, two funds managed by LISC Fund Management, the Charlotte Housing Opportunity Investment Fund and the Black Economic Development Fund, the North Carolina Housing Finance Agency, Red Stone Equity Partners, CRBT, the Banc of America Community Development Corporation, Crescent Communities, Prudential and TD Bank all played a role in financing the project. Shook Kelley designed the project (photo).
- ◦Development
- ◦Financing
