A pair of pedigreed multifamily players are partnering to form a new, Charlotte-based entity that is already at work on a 292-unit apartment complex in Raleigh, premiering its aspirations to enter several fast-growing Southeastern U.S. markets.
CHARLOTTE — Charlotte-based developer Pappas Properties has been issued three building permits, totaling $5.75 million, for the $52 million second phase of its Sharon Square apartment project. Mecklenburg County issued the permits last week. The permits are for $2.4 million in work for a 49,322-square-foot parking deck, $2.3 million in work for a building shell and $973,500 [...]
Pappas Properties is seeking the rezoning of four acres in the Berewick community in southwest Charlotte with plans to develop the community's town center at some point down the road.
After successful careers in the real estate industry, Stuart Proffitt and Wyatt Dixon found themselves at a crossroads. The economy was in the crapper, their once-lucrative jobs at big Charlotte firms were either in a state of flux or being eliminated and they were facing one of the worst real estate markets in U.S. history. [...]
Charlotte-based Spangler Construction used to be in the commercial construction business. These days it’s known as a real estate investment company. And in the upcoming Charlotte City Council and mayoral elections, Spangler’s known as the company whose employees have donated the most to candidates in the two races. Spangler employees donated a total of $5,000 [...]
They’re victims of the recession: unfinished communities scattered across the Charlotte area. But for homebuilders like Lennar Corp., they’re an opportunity. Just ask Jon Hardy. Hardy, president of the Miami-based company’s Charlotte division, said that this year Lennar has built homes in nine Charlotte-area communities that others started but couldn’t finish. That represents a spike [...]