multifamily student apartments and retail development in the
University City area in Charlotte, North Carolina.
Main features of the project:
· Prime location--The project is located at the University City
station along the light rail extension line connecting the
university campus with downtown Charlotte, 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.
· Strong demand in the market--UNC-Charlotte will increase
the enrollment from 27,200 to 35,000 by 2020, which brings
strong demand of student housing in this market.
· No direct competition within the market--The project has a
unique strategy to develop along the light rail. The light rail
will take students directly to the university campus. None of
the current off-campus student housing projects in the area
has such convenient access to the campus. Meanwhile, the
project creates a win-win situation for both renters and retail
owners as renters will bring businesses to retail shops and
convenient shopping will attract renters.
· Sustainable design-- The project adopts energy-saving
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 is currently in the pre-construction phase.