It’s been a groundbreaking week. Here’s a rundown of 900 apartments coming to Charlotte
Although construction is slowing down in Charlotte, the city has seen several groundbreakings of multi-family apartment projects in the past week.
Between three developments spread across the city, about 872 apartment units will be completed by the end of 2025 or 2026.
Here’s a round up of these new builds and what they’ll bring to the Charlotte housing scene.
Are you seeing a ton of development in your neighborhood? Curious about a fenced off plot of dirt near you? Send me an email at dmathurin@charlotteobserver.com and maybe we can take a tour of your community.
Cotswold’s new residents
Location, location, location. That’s a major appeal for The Fallon Company’s new project in the Cotswold neighborhood at the corner of Colwick Road and Chiswick Road. Or for a better visual, between the Publix on Randolph Road and Cotswold Elementary School.
On Wednesday, Fallon broke ground on The Colwick, a 234-unit, seven-story complex with a mix of one, two and three bedrooms.
“There’s a lot of excitement around something being built at this location,” said Michael Fallon, the chief executive officer. “The school is adjacent. You have two grocery stores within about 400 yards … There haven’t been any residential rental apartment buildings like this built in the last 20 years in the Cotswold area.”
Talk of the project began in 2018. Things officially went into motion when the Charlotte City Council approved the project’s rezoning petition in 2022.
Some residents expressed concern regarding traffic congestion and the approval narrowly passed. Fallon said the team has worked with the community to quell some of those concerns.
As part of the permitting agreement, Fallon Co. will work with the Charlotte Department of Transportation on infrastructure improvements, including making handicap accessibility improvements at the nearby intersection of Greenwich and Randolph.
“The community’s concerns around density are absolutely valid and that’s why we ended up working with them over the last year,” Fallon said. “We weren’t going for a whole lot of things that were out of compliance but that doesn’t mean you just have the right to go do it. You still have to work with the community. I think we responded in a way that met them in the middle and still provides a great site.”
Fallon expects to complete the project by the end of 2026 and units will go for market-rate prices. Some of the project’s amenities include a co-working lounge, saltwater pool, a pet spa and dog park and a golf simulator room.
River District continues to flow
Vertical construction began this week on the first residential offering in the River District, a 1,400-acre mixed-use development in west Charlotte.
NOVEL River District will be a 318-unit, seven-story multifamily development. The complex will feature studios, and one to two bedrooms. The units will be market rate and there will be an amenity building with a fitness center and pool.
The River District sits on the west side of the airport and Interstate 485 near the Catawba River. It’s a transformation project that began in 2016, looking to turn previously wooded land into a new neighborhood with housing, retail and commercial options.
Developed by Crescent Communities, the River District will include 5,000 homes, market rate and affordable apartments, millions of square feet of office space, half a million square feet of retail, 1,000 hotel rooms and preserved greenspace.
Residents are expected to move into NOVEL by early 2026.
Besides the multi-family project, the first phase of housing also includes 2,300 single-family homes built by David Weekley Homes, DRB Homes, Saussy Burbank and Toll Brothers.
The model homes should be complete next year.
Mallard Creek’s new addition
Another apartment complex is heading to north Charlotte between the Mallard Creek neighborhood and Concord.
Last week, The Bainbridge Companies broke ground on Bainbridge Mallard Creek, near Ridge Road and Bridge Road off of Interstate 485.
The five-building complex will have 320 units with a mix of one-, two-, and three-bedrooms, with a focus on the bigger units to attract more families or couples looking for a bit more space, according to Zach Spencer, Bainbridge’s senior vice president of development.
The location is attractive, Spencer said. It’s close to Concord Mills for shopping and entertainment and workforce options such as pharmaceutical company Eli Lilly’s new Concord Campus and the future opening of wealth management company Vanguard’s campus in University City.
“The Research Park, University City area, Mallard Creek, all these areas have been blowing up and becoming more popular for investment,” Spencer said. “From a resident’s perspective, there’s the convenience the area brings. Retail, the proximity to (Interstate) 485 and (Interstate) 85.”
Bainbridge Mallard Creek is set to welcome residents by the end of 2025. Amenities include an outdoor living room, a co-working space, a private study and a resort-style pool.
This story was originally published November 15, 2024 at 10:52 AM.
