First look at over 200 apartments near big mixed-use project on Charlotte’s west side
Construction has started on more than 200 apartments on Charlotte’s west side, just steps from another developer’s 400,000-square-foot adaptive reuse office and retail project, the apartment developer said Monday in a news release.
The Perch — led by Florida-based developer Ram Realty Advisors — will be at 718 Gesco St. The first phase of the project is expected to be complete by 2024.
Charlotte continues to see a record number of apartments going up across the city.
In July, CoStar Group, a real estate research firm, said that the nearly 20,000 units under construction at the time set a record dating back to the year 2000. Ram Realty’s project will be on mostly vacant land near a relatively new mixed-use project.
There will be a mix of one-, two- and three-bedroom apartments. The views of the Charlotte skyline inspired the name, the developer said. Ram Realty did not disclose the cost of the project.
There will be an outdoor gathering space with a TV, grilling and dining area, and pool. There also will be work spaces, fitness center and a pet spa.
The apartments are at a trailhead for the Stewart Creek Greenway, which leads into uptown. The site also is near the Seversville and Wesley Heights neighborhoods.
Nearby development
The Perch is across the street from Third & Urban’s Lower Tuck project, which includes a mix of small businesses and office space. Atlanta-based developer Third & Urban has invested millions of dollars in improving and updating buildings in this area.
Lower Tuck already is home to Not Just Coffee and Hygge Coworking, along Jay Street. More recent tenants include architecture and design firms such as Morris-Berg Architects as well as a technology recruitment company called Kavaliro.
Last year, Third & Urban announced it was expanding the site by three buildings to have a “campus-sized community.” The $140 million mixed-use site is made up of six buildings on Jay Street, Tuckaseegee Road and Gesco Street.
Land purchases for parking
Ram Realty closed on land deals for the apartment project earlier this month.
The company spent $5.25 million for about 2.5 acres — across four parcels — in the area of Gesco and State streets, according to Mecklenburg County property records.
Ram Realty bought parts of two additional parcels for $1.5 million from Third & Urban.
Those purchases were to make parking more efficient for the apartment project, and were for unused land from Third & Urban, according to Ram Realty.
This story was originally published September 20, 2022 at 10:29 AM.
