Development

Age-restricted community planned for seniors in north Charlotte

The site at Highland Creek Parkway and Eastfield Road.
The site at Highland Creek Parkway and Eastfield Road.

A developer is planning to build an age-restricted apartment community in north Charlotte, according to rezoning documents filed recently.

Stream Realty Partners is seeking to rezone the 11-acre site at Highland Creek Parkway and Eastfield Road. The land is currently vacant and mostly wooded.

According to the rezoning plan, the development would be limited to people 55 and older. The project would be built as a four-story structure with up to 190 units, surrounding a courtyard with amenities. Parking would be provided in surrounding surface spaces and carports.

Stream Realty couldn’t immediately be reached for more information on the plan, which Charlotte City Council will hold a hearing and vote on in the coming months. The Texas-based company is currently remodeling the former AT&T Plaza building uptown (Now known as 300 South Brevard), which it purchased for $45.5 million last year.

The age-restricted community has a name: Soléa Charlotte. Stream Realty Partners broke ground in March on another age-resticted community, Soléa Copperfield in Houston. The company is betting on the market for “active seniors” and plans to build six more such communities across the nation. Last month, Stream Realty Partners broke ground on Soléa Cedar Park, near Austin.

Here’s an idea of what you can expect at Soléa Charlotte, based on Stream Realty’s description of the Houston project:

“Houston’s first Soléa-branded community is designed for so-called active adults. These are residents 55 years and older who are looking for a high-quality, easy-to-maintain and affordable alternative to traditional senior housing, apartments and single-family homes, said Iggy Grillo, Stream’s vice president of development.

Soléa Copperfield will offer one and two-bedroom units ranging in size from 750 square feet to 1,365 square feet. The units will feature an open floor plan with a home-style kitchen, large walk-in closets and windows to let in natural light. Rent prices have not been announced yet.

The age-restricted community also features amenities that cater to this demographic, including:

▪ A 10,000-square-foot resident center with a wine and coffee bar, library, hobby room, and fitness and cardio rooms.

▪ A large outdoor veranda

▪ Resort-style pool

▪ Outdoor kitchen

▪ Manicured gardens

The boutique-style community is also small enough to foster a sense of community among residents. Residents are free to come and go as they please and will have options to to attend social gatherings and fitness activities on site.

Stream, which entered the multifamily space in 2014, has plans to develop more Soléa-branded active-adult apartment communities in Houston. The company said it hopes to announce its second Houston location in the near future and is actively pursuing additional sites.

“The fact that the 55+ age demographic is growing rapidly over the next 10 years is widely known, but their available housing options are not evolving enough to complement their quickly changing lifestyles,” Preston Young, a co-founding partner of Stream’s Houston office, said in a statement.”

Ely Portillo: 704-358-5041, @ESPortillo

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