CHARLOTTE, NC-A Cleveland-based multifamily developer is hoping to close on the purchase of a property on West Morehead Street by the end of this year and break ground shortly thereafter on a new 298-unit apartment project here.
The NRP Group is planning to develop the project on a 2.4-acre parcel at 135 West Morehead St., between South Church and Winnifred streets, reports the Charlotte Business Journal. The property is within walking distance of Bank of America Stadium and BB&T Ballpark and is currently owned by 135 Morehead Apartments, which is managed by SYNCO Properties of Charlotte..
Mark Tipton, a developer with NRP's Raleigh office, says most of the development will be four stories of residential over two levels of parking, although a portion of the complex will rise to five stories. The majority of the units will be one-bedroom apartments.
“It's just a pedestrian-friendly site, and I think that was one of the most important things,” says Tipton. “We do this all over, and we feel like this is one of the best sites we've got in the country.” See story in the Charlotte Business Journal.
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