A developer is planning to build new apartments at the corner of Tryon and Morehead streets, adding to the city’s multifamily housing boom.
Preliminary plans filed with the city Tuesday for “Alliance Morehead” show a 275-unit, five-story building would be built on the site.
The property’s owner, Honey Enterprises, could not immediately be reached Tuesday. Apartment development firm Alliance Residential declined to comment.
Phoenix-based Alliance opened a Charlotte office earlier this year to expand its local development pipeline, and announced in March that it’s planning to build a 264-unit apartment building at 10th Street and Seigle Avenue, on a site currently occupied by Seigle Avenue Presbyterian Church.
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The site at Morehead and Tryon is adjacent to Loft 135, a recently opened apartment building by Ohio-based NRP Group. Loft 135 has 298 units, meaning the total number of new apartments on that stretch of West Morehead Street would total almost 600. And hundreds more apartments are being built on the street farther west toward Freedom Drive and east in Dilworth.
This is the newest iteration of a plan for the site. Trinity Capital Advisors and Honey had previously planned to build a 14-story office tower called 1000 South Tryon, but those plans fell through when the developers couldn’t find a tenant to anchor the building.