Huntersville and NoDa projects get axed, multifamily chugs along: Top Charlotte residential real estate news
September marked the end of the road for a couple of high-profile projects in the Charlotte metro.
In Huntersville, the hotly contested Lagoona Bay project off Sam Furr Road was officially shelved last month after Jake Palillo of Bi-Part Development pulled the plug due to economic concerns. Formally announced earlier this year, the project faced major opposition from neighbors. Palillo had revised his plans for the site multiple times. He most recently renamed the project Waterside and downsized it to include just 415 residential units, the Lagoona Bay Beach Club and man-made Crystal Lagoon, and a potential boutique inn.
Closer to center city, a sale of the The Johnston YMCA site in NoDa fell through as a result of current market conditions. That site at 3025 N. Davidson St. had been under contract by California developer Republic Metropolitan, which had eyed putting 455 apartments there.
And farther north, plans for a large Mooresville development near Lake Norman with up to 660 residential units hit a snag in September after receiving a thumbs down from the town’s planning board. A timeline for the developer’s next steps were unclear last month.
Apartments, townhomes continue to pop up across Charlotte region
That’s as other multifamily projects are getting underway in the Charlotte region, including two apartment developments that recently broke ground: Abernethy Lofts in NoDa and Easton at Mountain Island. The NRP Group and Canyon Partners Real Estate are developing Abernethy Lofts, which will bring 392 units to Raleigh Street, while Waypoint Residential’s Easton at Mountain Island will include 240 apartments on Drains Bay Court in northwest Charlotte.
In SouthPark, Florida developer Mill Creek Residential plans to rebuild its apartment project upended by a construction fire in May that killed two workers. Mill Creek told CBJ last month it expects to start the rebuild immediately after both buildings are demolished, which is slated to take place by the end of this year.
It’s not just new apartments that are taking shape. National homebuilder Taylor Morrison has more than 850 townhomes across seven projects in the works throughout the Charlotte region as well as a large build-to-rent development near Northlake Mall.
Elsewhere, a 275-unit apartment project in Monroe and a major Rock Hill development that would incorporate apartments, townhomes and single-family homes are currently working their way though rezoning processes.
The accompanying slideshow takes a closer look at some of the latest residential development news across the Charlotte area. CBJ staffers reported on these projects in September.
| Rank | Prior Rank | Business name/prior rank |
|---|---|---|
|
1 |
1 |
Lennar Corp. |
|
2 |
2 |
Pulte Home Corp. |
|
3 |
3 |
Meritage Homes Corp. |
