Texas developer’s $22 million deal means more apartments near Lower South End breweries
A Texas developer closed this week on a $22.1 million land deal in Charlotte’s booming Lower South End with plans to bring hundreds of apartments.
Real estate investment firm Embrey, out of San Antonio, purchased 5 acres at the corner of South Boulevard and Scaleybark Road. The company spent $11.1 million on one parcel alone, according to Mecklenburg County property records.
Construction is expected to start this month, according to a Thursday news release from the company. The company did not disclose the project cost.
Once complete, the 403-unit building will join a number of other nearby projects that have sprung up around the light rail Blue Line’s Scaleybark Station.
The “LoSo” neighborhood is already home to Olde Mecklenburg Brewery, Sugar Creek Brewing Company and Queen Park Social. The area has undergone dramatic change from its once industrial character.
Other nearby development includes the 310-unit South & Hollis project at 3441 South Blvd. Construction is well underway with a target finish date of this coming winter. The developer, Akridge, is planning to have 9,000 square feet of ground-floor retail.
Other nearby projects include the 15-acre, mixed use Station at LoSo. That includes 350 apartments as well as office space.
Some in Charlotte might remember the site of Embrey’s project as the former Zack’s Hamburgers. The popular food joint was a steady presence in the now fast-changing part of the city before closing its doors last July.
Apartment amenities
Embrey’s project will include a seventh-floor sky lounge that will give tenants views of the Charlotte skyline.
Other amenities include a pool, bocce ball court, dog park and bicycle repair. The site is a short walk to the Scaleybark Station and Charlotte Rail Trail.
The developer has led a number of similar projects in other high-growth cities like Phoenix, Denver, Colorado, and Nashville, Tennessee.
This story was originally published June 17, 2022 at 11:59 AM.
