CHARLOTTE, NC—Pollack Shores Real Estate Group has acquired The Stratford Apartments on Park Road here and plans to develop a new multi-family complex at the nearly seven-acre site.
The Atlanta-based firm purchased the Stratford Apartments property for $6.4 million, according to the Charlotte Business Journal. The existing complex consists of 136 units. Pollack is looking to redevelop the parcel into a new 273-unit complex.
Construction is expected to begin in April with the first units to be delivered in the third quarter of 2015.
“The acquisition of this property and the proposed new development offer a unique opportunity for us to provide a high-design, high-quality multifamily residential community within the prestigious Myers Park neighborhood,” states Michael Blair, managing director of development for Pollack Shores Real Estate Group. “In addition to the great lifestyle amenities that already exist in the surrounding community, Myers Park Place will be a conduit to the Little Sugar Creek Greenway, Freedom Park and beyond.” See story in the Charlotte Business Journal.
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