An Atlanta-based apartment developer is revealing some more details on a planned new community in University City, along the Blue Line light rail extension.
Oxford Properties bought the 14.7-acre site on North Tryon Street near Rocky River Road for $6.35 million. The company is planning 302 apartment units and 18 rental townhouses on the site. Oxford Properties hopes to have the necessary permits to start construction by June or July. The project doesn’t yet have a name.
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.
Oxford Properties, founded in 2002 by a pair of former Post Properties executives, develops a wide range of apartment buildings, including mid-rise and garden projects, as well as rental townhouses.
The 18 for-rent townhouses will include three bedrooms and 3 1/2 bathrooms. They’re an uncommon product type for the Charlotte market, and Oxford executives said they believe the properties will lease well as a result.