Atlanta-based Pollack Shores Real Estate Group paid just under $13 million for a development site at 327 and 349 West Tremont Ave. in Charlotte’s south end in a deal that closed in early February, real estate records show. The company plans to start construction soon and open new apartments in late 2018, Charlotte Business Journal reports.
“There is a lot of momentum and growth happening in Charlotte’s South End,” Pollack Shores development manager Palmer McArthur said in a statement. “We anticipate continued great housing demand in this neighborhood, and we look forward to delivering a quality multifamily product that aligns with the culture of this unique community.”
In addition to luxury apartments, the project will include 2,500 sq. ft. of street-level retail.
“This is a vibrant, walkable corridor, and offering street-level retail will add to the street energy and walkability of the neighborhood,” said Steven Shores, president and co-founder of Pollack Shores.
The existing site has warehouses and industrial space. Charlotte City Council approved the developer’s rezoning request last year.
The site is currently occupied by warehouses and industrial space. Charlotte City Council voted to approve Pollack Shores’ rezoning request in the fast-growing area in 2016.