Real estate firms around Charlotte pretty much stopped building condos during and after the recent mortgage crisis and real estate meltdown. While apartment construction has come roaring back, and sales of new homes have as well, condos seem to remain out of vogue among developers. What seems to be replacing them, especially in well-established Southeast Charlotte neighborhoods, are high-end townhomes aimed at empty-nesters.
Among the latest in that line is MECA Realty's Rea Court at Colony project, a 10-unit townhome project on Rea Road, across from the Colony Place Shopping Center. Units there will start in the high $400s next week, with customizable New-England style architecture. MECA Realty's Jason Noblitt says the project is aimed at the sizable population of Southeast Charlotte empty-nesters who are growing tired of maintaining big homes in neighborhoods like Myers Park or Eastover and would like to downsize, but don't want to sacrifice high-end living touches for the convenience of a townhome.