Apartment development planned for Charlotte

April 7, 2013 by  

It was recently announced that Crescent Communities (previously known as Crescent Resources), a real estate firm located in Charlotte, is working on a plan to bring around 300 apartment units to Charlotte’s midtown area.

The site of the future apartment project is located at the intersection of East Morehead Street and Harding Place in the northwest corner. The area, which is near the Little Sugar Creek Greenway, is located across from the Carolina Medical Center Campus. Crescent’s current plan, according to information provided by an individual familiar with the company’s plan for the location, is to acquire approximately two acres on which to build the complex.

Currently, that particular area is home to a number of office buildings, and the property has not been acquired for the project as yet. If the company’s plans do move forward, however, that section of Charlotte could become quite busy with apartment development in the near future. The Forestar Group Inc. bought acreage last year in the area on which it plans to construct an apartment complex as well.

As the area between Kenilworth Avenue and Harding is prepared for future apartment development, the possibility of new businesses moving into the area is also likely. If the area does undergo transformation and development in the near future, local printing companies may find themselves a bit busier as well, as new businesses moving into the area will require a number of printing services.

The area that Forestar purchased consists of about 1.5 acres located between Monticello Trail and Kenilworth. The company intends to build an apartment complex consisting of 211 luxury units on the property.