Apartment development firm Terwilliger Pappas Multifamily Partners and Federal Capital Partners, a real estate investment firm based in Maryland, have started construction on a 194-unit apartment complex in the Ballantyne area.
Called Solis Ballantyne, the project will be located at the intersection of North Community House Road and Bryant Farms Road, across from the Morrison YMCA. Terwilliger Pappas won a rezoning for the property in January, and Terwilliger Pappas and FCP purchased approximately…Development firms start construction on south Charlotte apartment complex
Apartment development firm Terwilliger Pappas Multifamily Partners and Federal Capital Partners, a real estate investment firm based in Maryland, have started construction on a 194-unit apartment complex in the Ballantyne area.
Called Solis Ballantyne, the project will be located at the intersection of North Community House Road and Bryant Farms Road, across from the Morrison YMCA. Terwilliger Pappas won a rezoning for the property in January, and Terwilliger Pappas and FCP purchased approximately…
Charlotte’s housing market has had a hot summer so far.
Home sales in the region jumped 16.9% in July from last year, according to the monthly activity report released Monday by the Charlotte Regional Realtor Association. That follows a 22.1% increase in June from a year earlier. A total of 4,383 properties sold in July, up from 3,750 properties sold in July 2014. Sales were down slightly (1.2%) compared to June.
The average sales price in July increased 5.6% to $255,125 from 2014.
“Three…
Portman Holdings has secured construction financing for its $122 million uptown Charlotte office tower, which will kick off construction with a groundbreaking ceremony next Friday.
China Orient Summit Capital is providing equity financing for 615 South College, a 19-story office tower to be built next to The Westin Charlotte hotel. Real estate finance and investment management firm PCCP is the lender on the project.
According to real estate records, the Portman affiliate that owns the site has…
CPI Security is expanding its corporate headquarters and plans to hire an additional 300 employees over the next two years, the company says.
CPI will host a groundbreaking ceremony tomorrow for a new 120,000-square-foot building that will be constructed next to its headquarters on Sandy Porter Road, adjacent to interstate 485, in southwest Charlotte. The new building will house training facilities, research and development and the company’s central station, which monitors alarm events. The company…
Bank of America Corp. (NYSE:BAC) plans to vacate four floors totaling just over 95,000 square feet at 101 Independence Center, creating a big block of vacant space at the uptown Charlotte office building.
The bank plans to vacate the sixth, seventh, eighth and ninth floors at the building by August 2016. Jennifer Darwin, a spokeswoman at the bank, says the employees who work on those floors will be relocated to other office space in uptown, and the decision to vacate the floors is part of the company’s…
A real estate company based in Virginia Beach, Va., is under contract to purchase the Providence Plaza mixed-use development and is looking at an adjacent lot for future development.
Armada Hoffler Properties Inc. is under contract to purchase the three-building complex for $26.2 million. Located at the corner of Providence and Sharon Amity roads in Charlotte, the 103,000-square-foot property is 97% occupied. It includes 54,000 square feet of office space and 49,000 square feet of retail space as…
Dimensional Fund Advisors has leased two floors at the Fifth Third Center building in uptown Charlotte.
The Texas-based investment firm announced last month that it would locate its East Coast regional headquarters in Charlotte, creating 316 jobs. Cousins Properties Inc., which owns Fifth Third Center, is working with DFA on the development of a new headquarters building in Charlotte that would deliver as early as the fourth quarter of 2018. Real estate sources say the company is targeting South…
The average closing cost for a home mortgage in North Carolina has dropped 26% in the past year, according to an annual survey by Bankrate.com.
However, the state still ranks among the 10 most expensive in the country when it comes to mortgage origination and other fees.
It costs an average of $1,911 in origination fees and third-party costs, such as appraisal and inspection services, to buy a home with a mortgage in North Carolina, according to Bankrate's survey. That total is down from $2,599…
Grubb Properties and Foothills Capital are seeking a mixed-use rezoning for a 10.7-acre office property on Park Road that would allow the firms to add residential, retail and hotel uses at the site.
The firms have met with adjacent land owners and other community members, and Grubb says it is planning one of its Link apartment developments for the site, which is located on the east side of Park Road, between Mockingbird Lane and Abbey Place.
The property is currently home to the 4601 Park Road…
John Crosland Jr., chairman emeritus of legendary Charlotte real estate firm Crosland, has died.
Crosland, 86, had been suffering from Parkinson’s disease for several years. He was the company’s president and chief executive until 1999 and retired as chairman in 2007.
“We are all saddened by Mr. Crosland’s passing but are fortunate that he prepared extensively to ensure the company’s future,” said Adam Ford, president of Crosland, in a statement. “We will work hard to fulfill his…