One Solis, two Solis, three Solis, four: New apartments approved

Charlotte will soon get its fourth Solis-branded upscale apartment complex, with the approval Tuesday night of a rezoning request from developer Terwilliger Pappas.

The newest complex, Solis Ballantyne, will total 194 units at the corner of North Community House and Bryant Farms roads, along with 15,000 square feet of retail. This complex will join Solis Dilworth (corner of Kenilworth and Morehead streets), Solis Waverly (Providence Road south of I-485), and Solis Sharon Square (SouthPark, next to Whole Foods).

In all, Charlotte will soon have about 1,000 Solis units.This is in line with other upscale apartment developments being built this year around Charlotte, such as The Fountains (complexes in Matthews and Uptown) and Crescent (SouthPark and Dilworth).

City Council also approved a rezoning petition from developer Spectrum Properties that would allow the company to tear down a 48-year-old apartment complex on Abbey Place, just south of Park and Woodlawn roads. The current complex is 128 units; Spectrum plans to build 265 upscale apartments on the 9-acre site.

Council member John Autry, a Democrat, said the plan to tear down the less expensive existing units and build new apartments spotlights the issue of affordable housing. The new units will be 1- and 2-bedroom apartments renting for $1,100 to $1,300 a month.

"It puts a magnifier and a hot light on the disparities we have in this community," said Autry, who voted for the petition. Council approved Spectrum's request unanimously.

Cotswold Publix, and other rezoning decisions Tuesday

Charlotte City Council is set to hear rezoning petitions Tuesday night. If rezoning were a chore, it would probably be something like brushing your teeth - vital to do, but not exactly the most exciting thing in the world. Still, rezoning can arouse some strong passions (Anybody remember the Dilworth Walgreens Battle of 2012?).

Here's a look at what's on the agenda Tuesday night:

• New Publix in Cotswold: This is probably the most interesting petition up for a vote Tuesday. Cotswold Partners LLC is hoping to rezone a 2.2-acre site near Randolph and Greenwich roads from neighborhood business to mixed-use development. The developer would demolish the existing office building and construct a new Publix grocery store (see part of the rendering below). This would be an aggressive move - the site is directly across from a large Harris Teeter - but Publix has been upfront about challenging Harris Teeter. Neighbors have expressed concerns about increased traffic, but staff recommend the petition for approval. 
  
• A Terwilliger Pappas apartment complex, Solis Ballantyne, has garnered a protest petition, but staff recommends approval. The complex, on 10 acres of vacant land at the corner of North Community House and Bryant Farms roads, would have 194 units and up to 15,000 square feet of retail space. Terwilliger Pappas is building other Solis-brand upscale apartments in Charlotte, such as the Solis Dilworth complex under construction at Kenilworth and Morehead streets.
• A developer is trying to rezone 1.2 acres at Woodlawn Road and Montford Drive to allow an 8-unit apartment building on the site. With one bedroom units estimated to rent at $1,050 a month, the units are targeted at young professionals. The plan has picked up a protest petition from the neighborhood. It's up for a hearing, not a vote, on Tuesday.

  

  Proposed apartment building

• There's a proposal in Plaza Midwood to rezone the land of the historic Vanlandingham Estate on The Plaza. The rezoning petition would allow the construction of up to 19 single-family attached houses for sale around the perimeter of the historic property, along with a private pool and spa. The main estate would still be used as a hotel and small conference center. The townhouses would be $340,000 to $420,000. The rezoning is being sought because the Vanlandingham Estate isn't sustainable in its current form, one of the developers said at a community meeting. Staff is not recommending approval of the plan as is, because the increased density, parking issues and inward-facing orientation of the townhouses are inconsistent with the neighborhood. This is also up for a hearing, not a vote.

  

  Rendering of the proposed townhouses

Construction underway on 670-acre Belmont development

Construction has begun on a 670-acre development in Belmont, adjacent to Daniel Stowe Botanical Garden, the company behind the project said Wednesday.

The master-planned McLean development will cover miles of Lake Wylie shoreline, and will include a marina, a public park and commercial development. Plans call for it to have just over 800 homes.

The master plan for McLean

“This is a special piece of property with an incredible legacy and breadth of natural amenities including its shoreline, access to the lake, trail system and scenic landscape. There is nothing else like it on Lake Wylie,” said Steven Hinshaw, principal of developer NW Lake Wylie LLC. The company is affiliated with Northwood Investors, a privately held investment firm with $4 billion of assets under management. “Our intent is to develop it in a manner respectful of its beauty, creating neighborhoods and homes fitting to this environment.”

The property has been re-zoned and annexed into Belmont since Northwood purchased it in August 2013. The developer is refurbishing the historic McLean family home on the property and will open it as a sales and information center in the spring. The specific custom and neighborhood homebuilders will be announced later this year.

Update: Faison buys 511 Queens Rd. property for apartments

Developer Faison has purchased a vacant 1.4 acre parcel at 511 Queens Road, Mecklenburg County property records show, and the land could soon see a six-story building with 62 apartments.

A deed filed Dec. 30 shows a Faison-affiliated corporation purchased the land from Five-Eleven Partners for $3 million. The property is next to Theatre Charlotte, and had been originally slated for a condo development before the economy crashed.

Update: Kris Fetter, Faison's managing director of construction and residential development, said the company's plans are still in the design phase. There's no timeline yet for construction on the site, Fetter said.

Rush Dunaway, a broker with Sperry Van Ness Percival Partners, represented the seller, a Columbia-based company. He said the land is zoned for up to 62 residential units, and Faison could build a six-story structure (including one story of underground parking).

Dense, infill development is making a comeback after the recession, Dunaway said.

"It dried up for about eight years," Dunaway said. "It's back now."

Charlotte-based Faison is a major apartment developer, and from 2012 to 2014 the company developed about 2,000 apartment units throughout the Southeast. Last year, Faison divested two of its business lines - spinning off its advisory business and selling its property management division - to focus more on investing its own capital.

"Today, Faison is focused on investments for its own account and multifamily developments utilizing the entrepreneurial spirit of its founder" Henry J. Faison, the company says in its self-description.

(Hat tip to the guys at Urban Planet for spotting this first!)

New reporter coming to development beat

Hi all. Just a quick note to let you know that I've moved on to become associate editor of the Observer's editorial pages. Ely Portillo (elyportillo@charlotteobserver.com) has replaced me on the development beat. Please send him your thoughts and story ideas on real estate development in Charlotte.

Half-million dollar Saussy Burbank homes coming to Cherry neighborhood

There's been a lot of debate lately surrounding proposed rezonings in the historic Cherry neighborhood near the Metropolitan. Now comes news today that Saussy Burbank will be the builder of 39 single-family homes and two duplex lots there, with prices ranging from the high $400s to the low $600s.

Cherry, a working-class African American neighborhood near Myers Park, has been facing increasing gentrification pressures as the area around the Metropolitan redevelops. Earlier this year, City Council approved a rezoning for real estate developer Stoney Sellars' StoneHunt Development Group to build on 5.71 acres in the neighborhood. Some residents protested that decision, saying Sellars' plan to bring market-rate housing to the area would change the character of the neighborhood. Sellars has said he has upheld a commitment to keep some affordable housing by building Cherry Gardens, an apartment building for seniors.

Saussy Burbank will be the builder working with Sellars on the project. The homebuilder said today that lots will be made available for purchase in phases. The first phase will include six lots at the corner of Baxter and Main streets, with homes ranging from 2,900 square feet to 3,500 square feet and priced from $550,000 to $625,000. "The architecture will pay tribute to the style and vernacular of the surrounding neighborhoods," said Jim Burbank, a partner in Saussy Burbank. "It's important to us that we respect what's there. The real benefit for buyers is a new home -- and all the elements that go along with it -- in an older, close-in neighborhood."

A sales office and model home is expected to open in May 2015.

Read more here: http://www.charlotteobserver.com/2014/09/25/5199509/second-cherry-neighborhood-rezoning.html#.VGDgG_nF9TI#storylink=cpy

Another high-end townhome project for empty-nesters headed to SE Charlotte

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.