By Ashley Fahey, Charlotte Business Journal
An Atlanta-based developer has closed on its purchase of a South End parcel to develop an apartment project.
Design is currently underway on Pollack Shores Real Estate Group’s 350-unit apartment community on West Tremont Avenue, between South Tryon and Hawkins streets. The project is expected to open in late 2018. Pollack Shores paid almost $13 million for the 4.3-acre site, according to Mecklenburg County real estate records.
In addition to luxury apartments, Pollack Shores’ project will include 2,500 square feet of street-level 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, in a statement.
Amenities will include stone countertops, stainless-steel appliances, a pool courtyard, a clubroom, a sky lounge, two courtyards with outdoor kitchen amenities and a dog park. The community will also offer “live-work units,” featuring street-level commercial space fronting Tremont. Pollack Shores won rezoning last summer for transit-oriented mixed-use development on the site.
“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 community is close to the Lynx Blue Line and Rail Trail, as well as neighborhood retail establishments — The Common Market is relocating to 235 W. Tremont Ave., which is steps away from Pollack Shores’ apartments, according to the firm.
Other Pollack Shores projects in Charlotte include The Gibson, a 250-unit community in Plaza Midwood expected to open this spring.
Since opening in 2006, Pollack Shores says it has invested in, acquired and developed more than 14,500 units representing $2 billion-plus of total capitalization.
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