Argosy Real Estate Partners Acquires Opportunity Zone Site for the Development of a Single Family Build-for-Rent Project in Charlotte, NC
We are pleased to announce that Argosy Real Estate Partners has closed on the land acquisition for Trailhead at Sugar Creek Townhomes, the development of a 110-unit single family build-for-rent townhome community in Charlotte, NC. The project is located two miles northeast of Uptown Charlotte within the NoDa neighborhood, a transit-oriented, highly-amenitized, infill submarket known for its numerous restaurants, breweries, galleries and music venues. The project will offer residents an area with vibrant amenities, pedestrian trails and convenient rail access to the central business district.
The three-story townhomes, ranging in size from 1,290 sf to 1,560 sf, will have either two or three bedrooms, and each will have a two-car garage. Trailhead Townhomes is expected to be the first single family build-for-rent community within an urban mixed-use neighborhood in Charlotte and, therefore, well-differentiated from the market’s existing supply.
The investment was made in partnership with Capital City Real Estate (“CCRE”), a vertically-integrated real estate development company founded in 2006 with offices in Washington, DC and Atlanta that specializes in urban infill, mixed-use development across the Southeast. The investment is Argosy’s second alongside CCRE following the Commodore, a 173-unit multifamily development in Richmond, VA.