SunCap Property Group has broken ground on a new, boutique apartment community called Draper Place that’s set to bring high-end apartments to Randolph Road.
The four-story building will include 47 units, both two- and three-bedrooms. The apartments will vary in size from 1,650 square feet to 2,200 square feet, with rents starting at $3,400 a month. The first apartments are expected to be available in late 2018.
“Draper Place brings all the comforts of the modern residence to a boutique apartment community in one of Charlotte’s most desirable neighborhoods,” said Fred Bolt, executive vice president of SunCap, in a statement. “This is an underserved market in Charlotte, and we are excited to bring an elevated living option to SunCap’s backyard.”
Real estate records show a company affiliated with SunCap bought the site at Dotger Avenue for $4.75 million in January.
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The apartment building will include reserved, underground parking for all units, a community room, conference room and entertaining kitchen with an outdoor grill and fireplace. In the apartments, units will include two bathrooms, a powder room, balconies with gas fireplaces that open to the indoor living area with a sliding glass wall, six-burner gas stoves, dry bars and wine refrigerators and separate dining rooms.
They’ll also feature more amenities more commonly found in for-sale condominiums than apartments: Walk-in “his-and-her” closets, full laundry rooms with sinks, 10-foot ceilings, walk-in showers and crown molding, as well as oversized windows to let in more natural light.
The name isn’t a “Mad Men” reference. It’s a nod to Earle Sumner Draper, who in 1915 moved to Charlotte to landscape parts of Myers Park, and A.J. Draper, a textile heir and Elizabeth resident.
Cline Design is the project’s architect, Metrolina Builders is the general contractor, and Rivergate KW Residential is set to lease and manage the building, as well as provide on-site concierge service.
This is Charlotte-based SunCap’s first local apartment community. The company has previously developed distribution facilities, such as massive FedEx shipping centers, and an apartment building called the Ashby in Pittsburgh, and has also acquired and managed commercial properties such as office buildings, a call center in Matthews, shopping centers, medical office buildings.