Time lapse of the University area
Work is underway on a project that will bring hundreds of apartments near the University City Boulevard light rail station, developer Panorama Holdings said Tuesday.
Panorama said in a release that it broke ground on the Lumeo Apartments, a 309-unit complex building off of University City Station Boulevard. The apartments will feature a clubhouse, resort-style saltwater pool, fitness center and walking trail. The firm said it expects to complete the first apartments in 2020.
Studio, one-, two- and three-bedroom apartments range from $1,050 to $2,500 in rent, Panorama said.
Panorama said the project is one of the first transit-oriented developments at the light rail station in University City.
Since the $1.2 billion light rail extension from uptown to UNC Charlotte opened last year, the area has seen a wave of development. Some $800 million worth of new projects have been completed or in progress.
Nearby, developer EB Arrow is moving forward with plans to transform a mall into a waterfront development with an offices, retail and apartments near the J.W. Clay Boulevard Station.
And last week, Panorama said it was building a 14-story tower in Ballantyne, with a hotel, office space and a rooftop restaurant and bar.