If you’re tired of reading about new apartments being built on South Boulevard, this is not the blog post for you.
The Yards at Arrowood Station would be built farther down on South Boulevard than the boom has reached so far, south of Arrowood Road near the Lynx Blue Line station. Preliminary plans for the apartments filed this week on the city’s online Accela system call for a total of 245 residential units in nine buildings, as well as a maintenance building. The land is currently vacant.
Charlotte-based Gvest Capital LLC is behind the project, according to the online plans. Gvest isn’t new to the apartment market here: The company built the Yards at NoDa project, with about 340 apartment units.
Mecklenburg County real estate records show a company affiliated with Gvest bought the land in September for just under $7 million.
Privately held Gvest recently added more staff to its Charlotte offices. The company couldn’t immediately be reached for more details about the Yards at Arrowood plans.
“We already have townhome and apartment developments underway, with mixed-use, office, retail and single-family homes in the pipeline,” said managing partner Ray Gee, in a previous statement on the staff additions. “Their experience – and potential – with large, high-value projects give us the skills and maturity we need for a wide variety of opportunities.”
Gvest also acquired the BB&T Center in Winston-Salem late last year for $60 million, with an investment partner.