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Lennar buys land for apartments

A 5.21-acre plot that was formerly home to a Pepsi bottling plant has been sold to Lennar Multifamily Communities.

Prior to the sale, Lennar successfully rezoned 4.69 acres of the site to transit-oriented development mixed-use, due to its proximity to the New Bern light rail station, according to a press release.

The land is at New Bern Street and South Boulevard in South End. A six-story building encompassing 432 apartment units, 26,000 square feet of retail and a nearly 800-space parking deck is planned for the parcel. The property is being designed by Axiom Architecture and LandDesign.

Lennar plans to emphasize pedestrian connectivity, with five ground-floor retail spaces and direct access to the Charlotte Rail Trail’s 4.5 miles of trails that wind through the heart of the city, connecting neighborhoods such as Sedgefield, Southside Park, Brookhill, Dilworth and Wilmore to Uptown. A public walkway joining the Rail Trail to South Boulevard and a pedestrian crossing from South Boulevard to the Harris Teeter across from the site will be added, according to the release.

The sale was marketed by Holliday Fenoglio Fowler, with managing director Justin Good and director Allan Lynch working with managing director Bill Simerville and senior vice president Brian Craver of Foundry Commercial, according to the release.

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