An Atlanta-based apartment developer has purchased a site on North Tryon Street along the Blue Line light rail extension in University City.
Oxford Gateway Apartments LLC, a company affiliated with Oxford Properties, paid $6.35 million for the 14.7-acre site in a deal that closed Dec. 29, Mecklenburg County property records show. The site was part of the 62-acre tract owned by the McKinney family, which has been marketed as the future site of a large mixed-used development called University City Gateway.
The $1.2 billion light rail extension from uptown to UNC-Charlotte is set to open in August. The Oxford site is directly across from the planned University City Boulevard station.
Oxford Properties was founded in 2002 by a pair of former Post Properties executives. The company develops a wide range of apartment buildings, including mid-rise and garden projects, as well as rental townhouses. In Charlotte, the company has developed the CityPark View apartments at the former Charlotte Coliseum site.
An Oxford Properties executive couldn’t immediately be reached for more information about the company’s plans for the site. A conceptual master plan for the site shows up to 396 apartments on the site, in several buildings with parking garages.