CHARLOTTE, NC—Construction is underway on Fountains at New Bern Station, a 208-unit luxury multifamily community at the New Bern Light Rail station. Multifamily developer Proffitt Dixon Partners is investing $26.2 million to build the multifamily community on about five acres in Charlotte’s Historic South End.
“Some Charlotte submarkets demand high enough rent with strong enough occupancies to justify new development,” Stuart Proffitt, managing principal of Proffitt Dixon, tells GlobeSt.com. “The light rail line is a great location for new luxury apartments. People can take the LYNX Blue Line to work, which means fewer cars on the road and cleaner air. Plus, rents will be competitively-priced compared to older communities with fewer amenities.”
The studio, one-, two- and three-bedroom apartments and lofts will feature granite countertops, stainless steel appliances, built-in microwaves, French doors leading to private patios and balconies, ceiling fans, controlled-access entry and more. Some apartments will have 12- to 14-foot ceilings, kitchen islands, linen closets and computer work stations.
“Perhaps the most exciting amenity is the light rail lobby situated 50 feet from the light rail platform,” Proffitt says. “It’s so close that residents can wait comfortably in the lobby—protected from the weather—until the crossing arms begin to flash, signaling their train’s approach.”
The grounds, anchored by a signature fountain, will feature a saltwater swimming pool with a lap lane, as well as a multi-level sun deck, grilling area, fire pit and courtyard. The 6,000 square foot clubhouse will have Wi-Fi, a gourmet demonstration kitchen and entertainment area with billiards, gaming and fireside indoor lounging.
“Anytime we are evaluating an opportunity we look for a competitive advantage,” Proffitt says. “Being immediately adjacent to a station on Charlotte’s light rail is a sustainable competitive advantage that will increase in value as Charlotte becomes more dense and as the light rail system grows.”
Fountains at New Bern Station is Proffitt Dixon Partners’ second development in the Charlotte area. The first is Fountains at Mooresville Town Square, a 227-unit luxury apartment community, which is expected to begin leasing this spring. Several other new projects are also in the pipeline.
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