City area in Charlotte, North Carolina. Main features of the project:
· Prime location--The project is located along the light rail
extension line connecting the university campus with uptown
Charlotte, within walking distance to two stations and with
convenient access to major highways. It is also within close
proximity to education, office, retail (e.g. Ikea, Walmart),
dining, entertainment and medical facility in the University
City area. University City is one of the largest employment
centers in Charlotte with 73,000 employees and home to the
campus of UNC-Charlotte with 27,200 enrollments.
· Wide-range of target market--The light rail extension line will
bring potential renters from students and faculty members at
UNC-Charlotte as well as employees from University
Research Park and uptown Charlotte.
· Stable source of rental income--University City has more
renters than property owners as the population is composed
of students, graduates, faculty members, and employees.
· No direct competition within the market--The project has a
unique strategy to develop along the light rail, which is a
rare product in the multifamily development market.
· Sustainable design-- The project adopts energy-saving
urban style design to set a high standard for sustainable
competitive advantage.
· First-rate development team-- The project teams up with the
first-rate service providers with Jones Lang LaSalle as the
Project Management team and Greystar as the Property
Management team.
The project has completed pre-construction activities and is
currently in the design phase. The estimated completion date for
rd
this project is the 3 quarter of 2017.