Long-planned residential projects back on track

CHARLOTTE — Several long-planned residential projects across the Charlotte region cleared rezoning approval in June, paving a path forward for each.

That includes a controversial develohttps://www.wsoctv.com/news/local/big-residential-development-shot-down/C5NAXVLVQBEMJF3WIY6XAOQYSA/pment off Rea Road in south Charlotte that calls for as many as 566 apartments as well as a mixed-use project in Elizabeth with 175 apartments.

Elsewhere in the region, two developers won approval of separate projects after scaling back the original scope of their plans. A mixed-use project on Alcove Road in Mooresville will now include 350 townhomes — down from 660 residential units; and a development off Gilbert Road in Statesville will bring 475 to 500 single-family homes to the site — down from 550 residences initially.

And national homebuilders continue building out their local pipelines. M/I Homes, for instance, announced in June plans to build 800 homes and townhomes across three new projects in Wingate, Gastonia and York.

Toll Brothers Inc. is gearing up its latest Charlotte-area project, which will add more $1 million homes in Weddington. Tri Pointe Homes Inc. has purchased 30 acres at the former Charlotte Knights stadium site in Fort Mill for dozens of townhomes, and Lennar Corp. broke ground in June on its massive, 1,860-home development for residents age 55 and older in Lancaster County.

That’s as several apartment projects are wrapping up. An east Charlotte property with 287 units is now complete as is a 300-unit development in University City. And a South End apartment community that includes a coliving element is slated to open early in July despite a shake-up in property management.

Read more about these and other projects in CBJ’s latest real estate roundup here.

Comments on this article