Alliance Residential, one of the largest multifamily developers in the nation, has closed on the acquisition of 25.5 acres located at the intersection of I-485 and Albermarle Road in Charlotte for the development of Broadstone Lemmond Farm. Designed by Cline Design and Associates, the luxury multifamily development is scheduled to begin construction later this year and open for residents in 2020.
Alliance Residential is the exclusive multifamily developer of Broadstone Lemmond Farm, which will feature 336 luxury apartments as part of the new Lemmond Farm master planned project. Located near the recently opened Novant Health Mint Hill Medical Center, Lemmond Farm will include approximately 50,000 square feet of retail and office space. The master planned community is being developed by the Helms family, the multi-generational owners of the property, and Stanchion Asset Partners.
Modern one, two and three-bedroom units averaging 924 square feet will draw design elements from the history of the property as a cattle and horse farm. Rustic charm will blend with the latest in modern conveniences to create homes that appeal to the growing population of young professionals seeking the lifestyle offered by the fast-growing southeast Charlotte suburbs of Mint Hill and Matthews.
“The area around Broadstone Lemmond Farm is becoming a popular destination, presenting a tremendous opportunity for well-appointed housing options that provide all the luxuries of home ownership for the leasing market,” said Alliance Residential Carolinas Managing Director Donald Santos. “Residents are choosing to rent for longer periods of time rather than purchase. Therefore, they desire a development with a strong sense of community combined with unique amenities and lifestyle conveniences that is accessible to the areas where they work and play.”