An eight-story apartment building is coming to Kenilworth Avenue and Harding Place, bringing hundreds of new residences to a rapidly growing part of Charlotte.
Virginia-based Armada Hoffler Properties said it’s teamed up with Charlotte-based Southern Apartment Group to develop the site as a joint venture, which is adjacent to another apartment building under construction at Kenilworth and Morehead street.
The new building will total 225 apartments on eight floors, with 350 parking spaces in a deck. The companies plan to break ground on the project in the fourth quarter, with completion in mid-2018. The project’s total cost is anticipated to be $45 million.
“Charlotte...is a major market of 2.4 million people with a median household income exceeding $50,000. It presents a natural geographic point of expansion for our company,” said Louis Haddad, Armada Hoffler’s CEO, in a statement. “We are pleased to be growing our footprint in the Carolinas and to have teamed with local partners who have more than 45 years of combined experience in real estate development in this market.”
Southern Apartment Group is a subsidiary of CitiSculpt. According to preliminary plans filed with the city, the development will also include about 65,000 square feet of office space.
The new apartment building will be joining an increasingly crowded lineup in the area, which is seeing an influx of more than 1,300 new apartment units. Here’s a look at buildings nearby that are underway or recently completed: