Woodfield starts construction on $30M Whitehall Parc
Published: March 29, 2012
Time posted: 3:17 pm
Tags: Woodfield Investments
Woodfield Investments can’t get enough of southwest Charlotte.
Last week, the Virginia-based developer broke ground on Whitehall Parc, a $30 million, 268-unit, Class A luxury apartment project on 13 acres near Ayrsley Park in the Westinghouse/Arrowood corridor.
It’s one of three properties the company has developed in the area in the past five years.
“We already have had success with Gramercy Square at Ayrsley,” said Chad Hagler, a partner with Woodfield. “We have noticed a big increase in the demand for apartments as the ‘echo boom’ generation comes of age and starts to look for apartments. And then there is the change in the homeownership rates, which points to people wanting more apartments.”
The Whitehall project will include nine buildings. Each apartment will be about 1,000 square feet.
Orangeburg, S.C.-based C.F. Evans Construction is doing construction work on the project.
Hagler said the abundance of jobs, nearby shopping and Interstate 485 make the site prime real estate for a new apartment project.
“There are more jobs in that Westinghouse corridor than people seem to realize,” Hagler said. “We do only apartment projects and are strictly a multifamily developer, and we feel this is a great place to build apartments.”
Hagler said Woodfield is beginning three other apartment projects in Mecklenburg County and on the lookout for more development opportunities.