CHARLOTTE, N.C. — From spas to drive-in movie screens, amenities remain king in new construction apartment properties across Charlotte.
Local trade organization Greater Charlotte Apartment Association hosted its annual bus tour of four new apartment developments in the city last week, with this year’s tour including Providence Row near SouthPark, Novel Montford Park along Park Road, Draper Place in Elizabeth and Alta Warp + Weft in Optimist Park.
Many of the units at the properties on the tour lease at or well above $2 per square foot, speaking to the rental rate increases the entire Charlotte metro area has experienced in this development cycle. In fact, rents in Charlotte have jumped more than 40% since early 2010, according to recent data by RealPage.
Each of the properties reflect to a degree the areas in which they were developed. Draper Place, for example, is the most upscale of the four properties, with larger-than-average unit sizes and no studios or one-bedroom units.
The idea for developer SunCap Property Group was to draw downsizing baby boomers from nearby neighborhoods like Myers Park and Eastover into apartment living, with features similar to what single-family homes in those neighborhoods contain. And Novel Montford Park, in close proximity to Park Road Shopping Center — which opened in the 1950s as the first open-air shopping center in Charlotte — was developed with midcentury-inspired architecture and design.
For all developers featured on the tour, there’s more to come in Charlotte.
Read more here and check out photos of the new apartments, including property amenities and model units.
Cox Media Group