336-unit, $63M apartment project planned for uptown
Published: January 8, 2013
Time posted: 5:48 pm
CHARLOTTE — As new apartment projects flood the Charlotte market, a $63 million complex with more than 300 units could be added to the mix.
Charlotte-based Grubb Properties and Novare Group and Baston-Cook Development, both based in Atlanta, are working as a team on the 336-unit project, which is expected to be built at North Church and West 10th streets.
Novare spokesman Thornton Kennedy said the project, SkyHouse Charlotte, would be 23 stories. Kennedy wouldn’t comment on when construction would start.
The project joins a long list of new apartment projects announced for the Charlotte metropolitan area over the past 12 months or so.
Despite all those announcements, Charles Dalton, president of Real Data, a Charlotte-based firm that tracks the local multifamily market, said he doesn’t expect uptown to be overbuilt with apartments.
“I think there will still be demand for space downtown, especially as other amenities pop up,” he said. “With a new baseball stadium and a new uptown park, demand for (uptown) space will increase.”
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