North Carolina Construction News staff writer
Construction has started on a 353-unit, mixed-income apartment building in Charlotte with more than 100 affordable housing units.
Located on the site of the former historic Barringer Hotel, later known as Hall House, the project is expected to be completed inDecember. The seven-story, 330,000 square foot building will have a mix of studio, one-, two- and three-bedroom apartments. It also will include a co-working cafe, dog park, pool, fitness center, pickleball courts and rooftop deck with grills.
The $115 million project is a partnership between the nonprofit Inlivian, Charlotte’s housing authority, and Urban Atlantic, a mixed-use housing developer based in Bethesda, Maryland.
The city of Charlotte awarded $3.2 million from its housing trust fund and Mecklenburg County is providing a $6 million affordable housing grant.
Also, Horizon Development Properties, the nonprofit development subsidiary of Inlivian, is providing an $8 million construction loan.
“We recognize the need to address housing affordability for key city personnel and believe that every person should be able to live near where they work,” said Jim Bostian, North Carolina president of Aetna, a CVS Health Company. “Our investment in Charlotte will help improve health outcomes for individuals and families, allowing them to manage their mental and physical health better and thrive in a high-quality, safe and affordable environment.”
The total plan creates a marquee development with more than 700,000 square feet of housing, hotel space, stores, and offices. Income from the complex will support affordable housing, and Charlotte Hall House will be one of the first new developments in the increasingly vibrant Uptown Neighborhood to provide lower income residents the opportunity to live within walkable distance to jobs and urban amenities.