Expect the Charlotte region’s multifamily stock to continue its growth.
Several rezoning petitions approved at Charlotte City Council’s zoning meeting in October indicate that hundreds of apartments and townhouses are coming to various parts of Charlotte, with many pegged for the University area.
Closer to center city, an apartment project with up to 350 units is proposed for the corner of West Morehead Street and Euclid Avenue, while another development — controversial due to its car-free requirement for tenants — could bring as many as 104 apartments, with half of the units affordable for households earning 80% of the area median income, to the Seversville neighborhood in west Charlotte.
A couple of apartment projects on the northern edge of Mecklenburg County are planned or underway, among others elsewhere in the Charlotte area.
And single-family residential development is also part of the mix. Texas-based LGI Homes plans to develop nearly 300 lots for entry-level homes on 90 acres in east Charlotte, and, farther out in the region, two separate projects would create a total of 63 single-family lots in York County.
© 2021 Cox Media Group