$72 Million Apartment Building To Be Built In Charlotte
A new $72 million apartment building is coming to Charlotte. The building will be the FreeMoreWest area and is a joint venture with NYC’s GTIS Partners and Atlanta’s Wood Partners….
A new $72 million apartment building is coming to Charlotte. The building will be the FreeMoreWest area and is a joint venture with NYC's GTIS Partners and Atlanta's Wood Partners. It will be home to 260,000 square feet of residential space featuring 308 units throughout 5 stories.
The project, expected to be ready sometime in 2023 will be across the street from the upcoming Legion Brewing location. Located at 2016 West Morehead Street it's just a half a mile down the street from Pinky's Westside Grill. The property was purchased for over $3 million dollars and is expected to cost $72 million to complete.
The complex will be located in the FreeMore West area which is part of one of Charlotte's 17 opportunity zones. These opportunity zones provide tax benefits to investors who fund developments in these areas. Some residents and activists in Charlotte worry that this will lead to gentrification in the areas resulting in low-income residents being priced out.
The $72 million apartment complex will begin leasing closer to completion and rent will be priced based on comparable units at the time. Features of the complex include a location close to Bank of America Stadium, a virtual concierge, a dog spa, a resort-style pool, fitness center, club room, and courtyard.
Source WBTV
