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.
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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.