A 26-story apartment tower is planned near Dilworth. Here’s what it will include
A pair of New York-based firms plan to build hundreds of apartments in a 26-story tower and neighboring mid-rise building, the latest development planned for a fast-changing area near Dilworth.
The plans from Spandrel Development Partners and Atalaya Capital Management call for 626 apartments on the site at East Morehead Street and Euclid Avenue. Property records show that an entity affiliated with Spandrel’s co-founder Emanuel Neuman purchased the two parcels that make up the site in December for $17.8 million.
The high-rise building will contain 350 units, while the eight-story building will have 274 apartments, Neuman said in a recent interview.
Neuman said his firm was drawn to Charlotte’s rapid growth and the influx of new residents. He said they felt that South End was overbuilt, but that Dilworth was an ideal location because of its proximity to South End and the light rail.
“It’s truly a high-end neighborhood, and now it’s going to be more of a 21st century community,” he said.
Neuman said he hopes to start work on the project, called Radius Dilworth, by the end of the year. Construction is expected to take about 2 1/2 years to complete. He said the firms are still working through the final cost of the development.
The project will contain studio, one- and two-bedroom units, with pools, fitness centers and a rooftop deck, among other amenities.
A changing area
The development is part of a wave of change planned for the area around Dilworth and Midtown.
Last month, Atrium Health revealed that the long-sought, four-year medical school it is bringing to Charlotte will be built on 20 acres at the intersection of Baxter and South McDowell streets. The cost of the medical school project has not been disclosed yet.
Houston-based Bridgewood Properties rezoned a property next to Spandrel’s development last year to build up to 220 senior housing units. The site houses Ellington Funeral Services.
And Hanover Company, another Houston-based developer, won approval last year for its rezoning to build up to 350 multifamily homes across Euclid Avenue from Spandrel’s site.
This story was originally published May 18, 2021 at 4:38 PM.
