Apartment Company Buys a Big Chunk of South End Land for New Development

By Ely Portillo, The Charlotte Observer

An Atlanta-based apartment developer has closed on a site in South End and plans to build 350 new apartments on West Tremont Avenue, the company said Thursday.

Pollack Shores paid just under $13 million for the site at 327 and 349 West Tremont Avenue in a deal that closed Wednesday, real estate records show. The company plans to start construction soon and open the new apartments in late 2018.

“There is a lot of momentum and growth happening in Charlotte’s South End,” said Palmer McArthur, development manager at Pollack Shores, in a statement. “We anticipate continued great housing demand in this neighborhood, and we look forward to delivering a quality multifamily product that aligns with the culture of this unique community.”

The site is currently occupied by warehouses and industrial space. Charlotte City Council voted to approve Pollack Shores’ rezoning request in the fast-growing area in 2016.

In addition the apartments, the project will include 2,500 square feet of ground-floor retail.

“This is a vibrant, walkable corridor, and offering street level retail will add to the street energy and walkability of the neighborhood,” said Steven Shores, president and co-founder of Pollack Shores.

Amenities at the new apartments highlight the upscale demographic of renters Pollack Shores is aiming for. They’ll include “an upscale pool courtyard, clubroom, sky lounge, two courtyards with outdoor kitchen amenities and a dog park,” as well as stone countertops and stainless steel appliances inside the units.

Pollacks Shores has said the apartment building will be the first phase of a larger development on the site, with the eastern half of the site, closer to Hawkins Street, to be developed in the future.

Elsewhere in Charlotte, Pollack Shores has developed the 5115 Park Place apartments and is wrapping up construction on The Gibson apartments on Central Avenue.

Read the full article here.