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CHARLOTTE-Summit Properties Inc.’s 266-unit, nine-story Summit Grandview Apartments at 309 E. Morehead St. is 60% preleased. Monthly rents range from $985 for one bedroom to $3,000 for three bedrooms.

None of the 5,000 sf of retail has been rented and 25,000 sf office remains to be leased. The seven levels of apartments sit above two floors of retail and office.

Summitt Properties itself is leasing 27,000 sf of office space and an accounting firm is taking 11,500 sf. Summitt is using the $55 million it recently received in the sale of three multifamily properties to fund ongoing developments here. Trinity Properties of Charlotte is leasing the retail and office space.

The communities sold by Summit Properties comprise Summit River Crossing in Indianapolis, Summit Blue Ash in Cincinnati, and Summit Park in Cincinnati. The three communities totaled 873 homes. The $55 million sale price equates to an average $63,000 per home.

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