80-unit multifamily project near Charlotte secures construction loan

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Mills Construction Company and SunTrust Community Capital has secured $11.35 million to build an 80-unit multifamily development in Dallas near Charlotte, The Mecklenburg Times reports.

The development, called Long Creek Apartments II, will include state-of-the-art appliances, on-site management, and amenities including a business center, computer lab, clubhouse, playground, picnic area, and community rooms. The apartments will be marketed to low and moderate income families.

“We saw a lack of high quality, affordable housing options in the metro Charlotte area, and we are pleased that we can play a part in meeting this need,” said Mills Construction president Fred Mills, Jr. “Long Creek Apartments II will make a real difference for those who are not being served by the existing housing supply in the area.”

“The lack of workforce housing is a nationwide problem,” said Keitt King, president of SunTrust Community Capital. “We are working with companies like Mills Construction to provide more affordable housing options where they are needed, and they are certainly needed in Dallas, North Carolina.”

Construction is scheduled to begin in May 2018 and is expected to complete in May 2019.

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