A 32-story tower is planned for the edge of uptown, according to a rezoning petition filed with the city last month.
The rezoning request, submitted by Carolina Development Group NC, calls for up to 320 multifamily units and 5,000 square feet of commercial space at 712 North Smith St, near Interstate 277 and North Graham Street. That’s near the AvidXChange Music Factory.
The petition also allows for optional “rooftop amenity space” on top of a structured parking deck.
LKN Holdings LLC purchased the parcels that make up the site for $530,000, property records show.
Russ Sinacori, from homebuilder Sinacori Builders, is listed as the petitioner on the request. Sinacori could not be reached for comment Wednesday.
The nearly 1-acre site is next to the Garrison at Graham Lofts, a condominium building in Fourth Ward.
The plans for the new development call for either condos or apartments. The Charlotte City Council would still need to approve the petition.
Charlotte’s apartment market has continued to boom, with thousands of new units being built in neighborhoods across the city.
But last year, a report from apartment-tracking firm Yardi Matrix warned that there’s so much building going on that demand won’t keep up.
Nevertheless, several other apartment towers recently opened or are headed to uptown Charlotte’s skyline. Developer Northwood Ravin said last month it would start construction on a luxury apartment project at 500 West Trade Street. That development includes 354 apartments in two buildings, one 14-story tower and one 7-story.
The developer is also building a high-rise tower on Stonewall Street, which recently began leasing units.
And in Third Ward, Dominion Realty Partners broke ground in December on a 29-story tower that will have offices and apartments.