Over 1,100 homes and apartments set for Ballantyne, South End and the region
April was a busy month for new housing developments and rentals in the Charlotte metro area. Developers announced the construction or opening of well over 1,100 single-family, townhomes and apartments that are either open or under construction this month.
And with 117 people moving to the region each day, the housing remains quite a need. Between July 2023 and July 2024, about 30,000 new residents made Mecklenburg County their home, according to U.S. Census Bureau data. That increased the county’s population to 1.2 million people.
It’s why homebuilders including Tri Pointe Homes are expanding their footprint in the region. The developer is planning to construct 12 townhome communities in the region by the end of this year.
“We’re so excited about the Charlotte market. It’s migration, job growth, the great balance of affordability compared to other areas of the country,” said Gray Shell, Tri Pointe Homes’ Charlotte division president. “We’re seeing a lot of younger Gen Z and millennial buyers moving into the market… And there’s grandparents moving to the region who want to be close to their children.”
Tri Pointe, Shell said, will be opening communities in Charlotte, including in the Ballantyne neighborhood, and the towns of Belmont, Cramerton, Harrisburg, Mint Hill and Waxhaw. The developer is also working in Fort Mill, South Carolina.
Overall, the homebuilder is adding over 550 townhomes to the region.
Here’s a round-up of other budding developments. Are you seeing a ton of development in your neighborhood? Send me an email at dmathurin@charlotteobserver.com and maybe we can meet up!
More townhomes for Ballantyne and South End
Bart Hopper, owner and CEO of Hopper Communities, said his two new townhome communities are also geared toward Charlotte newcomers.
It provides a cheaper purchasing option than a single-family home and a low-maintenance lifestyle.
“There’s a demand for that kind of product where you don’t have to worry about maintenance and things like that,” Hopper said. “Some of them are younger people. They want to lock their house, go out and have dinner, not be out there mowing their yard.”
Hopper’s new communities are the Endhaven Terraces in Ballantyne and the Montclaire Terraces in Lower South End.
Combined, the communities are adding 93 homes to the city. Prices at Montclaire start in the $400,000s and in the $800,000s at Endhaven.
Rental townhomes in Charlotte
Beauxwright is adding to the growing build-to-rent sector in Charlotte with its opening of Radial at MoRA Point in East Charlotte.
It’s a 58-unit community at 4009 Connection Point. Rent for the two- and three-bedroom townhomes starts at $2,300 a month.
The community sits on about three acres and offers a dog park and green space.
Hopper said the growing trend of build-to-rent homes is also beneficial to newcomers in the region, especially as housing costs continue to rise.
“With some mortgage rates, you can rent for less than you can buy,” Hopper said. “You don’t build any equity but it’s more affordable.”
Charlotte is ranked fifth in the nation when it comes to build-to-rent properties, according to a report from Point2Homes, a real estate website. The city added over 1,400 single-family rentals last year and over 3,600 in the past five years.
More homes on the east side of Charlotte
The redevelopment of the former Eastland Mall site is continuing with the opening of Central Village at Eastland Yards.
From developer Saussy Burbank, Central Village’s first phase includes 38 for-sale single family and townhomes starting in the upper $500,000s.
The Eastland Yards project is an 80-acre mixed-use development that’s been in the works since 2018; or a little bit longer if factoring the mall’s closure in 2010 and the city’s purchase of the land in 2012.
But in 2018, developer Crosland Southeast was selected to lead the site’s redevelopment.
In November, the first residential units opened at Evoke Living at Eastland Yards, a 72-unit apartment building offering affordable housing for those 55 and older.
It’s a mix of one- and two-bedroom apartments for seniors making 30% to 80% of the area median income. For a single person, that’s an income between $22,300 and $59,400.
And more housing is on the way. Crosland is working on a 270-unit apartment for those making 80% to 120% AMI. For a family of four, that’s an income level between $84,800 and $127,200.
There will also be about 150 single family homes and townhomes that will sell for market rate value. Along with housing, there will be a 5-acre park, more retail, commercial and restaurant offerings.
And more homes in the River District
Saussy Burbank has also begun developing its portion of single-family homes at the River District, a 1,400-acre mixed-use development in west Charlotte that recently earned a One Plant Living designation. That’s a title that stems from the development’s commitment to sustainability.
In the builder’s first phase of construction, 13 homes will be built in the Westrow neighborhood. Westrow is the district’s town center where there will be a pavilion with an event lawn, a farmers’ market and a 5,000-square-foot lifestyle building where residents can host parties, speak to staff or have meetings.
The homes will be about 2,500 to 3,000 square feet and prices will start at $795,000.
The River District sits on the west side of the Charlotte airport and Interstate 485 near the Catawba River. It’s a massive redevelopment project from developer Crescent Communities that’s been in the works since 2016. Over the next 10 to 20 years, the area will be filled with houses, businesses and people.
And some of that housing will be available by the end of the year.
Crescent’s NOVEL River District is under construction. That will be a 318-unit, seven-story multifamily development.
Crescent is also partnering with Laurel Street Residential to build an 87-unit affordable complex for those making 80% of the area median income or less. For a family of four, 80% AMI is about $84,800.
Both projects are set to be completed by the end of this year.
Saussy Burbank was one of four homebuilders chosen to work on the single-family and townhomes. The others include David Weekley Homes, DRB Homes and Toll Brothers.
Toll Brothers announced in January that it would build 63 townhomes in Westrow.
The second phase of Saussy Burbank’s construction plan will be in the district’s second neighborhood of Basswood. That will include 42 homes. Construction on those properties will begin later this year.
Apartments in the suburbs
The town of Matthews is also increasing its housing stock.
Near the Mecklenburg County Sportsplex, developer NRP Group broke ground on The Matthews in April, a 377-unit apartment complex. The 15-acre site at 11330 Brigman Road will have three buildings at either four to five stories, according to a news release. Close to 19,000 square feet of commercial retail space is also planned for the site.
The Matthews will be a mix of one-, two-, and three-bedrooms, and the complex will include a four-story parking garage and a clubhouse. Amenities include a pool, dog park, fitness center, and a business center with a co-working space and cafe.
About 28 units will be reserved for residents making 80% or less of the area median income. For a family of four, that’s an annual income of $84,800.
Green space is a big selling point for the project. The site is located near a four-mile bike and walking trail that connects to downtown Matthews. A 7,500-square-foot terrace system is planned for the site, along with 35,000 square feet of green space with public seating.
And there’s the proximity to the Sportsplex, which will host the Pop Warner Super Bowl at the end of the year. The Matthews apartments should be complete by November 2026.
