Development

Ballantyne area makeover continues with plans for new luxury apartment tower

A rendering of the plans for the apartment complex, which will have 212 units in a 16-story tower and five-story building.
A rendering of the plans for the apartment complex, which will have 212 units in a 16-story tower and five-story building. Courtesy of Northwood Ravin

A 16-story residential tower is coming to Ballantyne, part of a plan to give the suburban office park a facelift.

Developer Northwood Ravin announced Tuesday it will build a 212-unit apartment community in Ballantyne Corporate Park, split between the tower and five-story building. The complex will have a mix of one-, two- and three-bedroom apartments and townhomes, ranging from 650 to 3,800 square feet.

The project, near the intersection of Ballantyne Corporate Place and Ballantyne Commons Parkway, is next to an 11-story office and luxury apartment building under construction. The company did not disclose the cost of the project.

It’s part of a push from the 535-acre business park’s owner to make Ballantyne an urban, walkable community.

Northwood Office, a subsidiary of the park’s owner Northwood Investors, plans to build a 25-acre town center with shops, restaurants, parks, an amphitheater and 2,000 apartments. About 175 units, or 8% of the total planned, will be set aside for households earning 80% of area median income, which is about $63,000 for a family of four.

The 16-story tower will be home to 126 of the 212 units in the luxury complex. The tower will have a rooftop lounge, with a full kitchen, private dining room, wine room, outdoor balconies and a speakeasy-themed bar for residents. Other amenities in the complex include a saltwater pool, indoor spa, sauna and steam rooms, private fitness room, outdoor kitchens and a “dog run,” a long, narrow area for dogs.

Individual apartments will also have wine refrigerators, among other amenities.

Rents range from $1,200 for the apartments to over $4,000 for the three-bedroom townhouses.

Northwood Investors bought the corporate park from the Bissell Cos. in 2017 for $1.2 billion in the largest transaction in Charlotte real estate history. The park has over 4 million square feet of office space and includes companies such as Brighthouse Financial, Wells Fargo and TIAA.

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Danielle Chemtob covers economic growth and development for the Observer. She’s a 2018 graduate of the journalism school at UNC-Chapel Hill and a California transplant.
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