Apartments are about to go up on West Trade (+ 3 other big construction projects)
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I love looking at plans and renderings and ideas. But you know what’s more exciting? Actual construction. I took a look at the building permits issued in the month of September in Charlotte and pulled out four with the highest construction cost.
The most significant looks to be the Gateway Apartments set to be built at 1010 West Trade Street. This is a 296-unit apartment complex with a parking deck. Super close to Gateway Village and Johnson & Wales University.
The developer, Dominion Realty Partners, has gotten permits for its building and the deck. There’s starting to be some construction equipment out on the site, which right now is mostly an empty gravel lot. Construction cost of this stage will be more than $40 million.
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Here are three other big projects with massive price tags.
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1) 300 South Tryon building
Location: 300 South Tryon Street
Construction cost: $16.2 million for this stage. Full building will be much more.
What this is: We’ve told you about this before. They’re now preparing for the hotel structure. Exciting.
2) East Morehead Apartments
Location: 905 Kenilworth Avenue
Construction cost: $12.5 million for this stage
What this is: This is a planned 380-unit apartment complex known as The Dillon. Developer Forestar is moving ahead with the shell for Building 1 and garage.
3) 7th Street Apartments
Location: 1925 East 7th Street
Construction cost: $8.2 million for this stage
What this is: Katie broke this down a while back. This is a small-ish (95-unit) apartment complex that’s been in the works for about three years in Elizabeth. Three or four stories tall. A two-bedroom is expected to go for about $1,785 per month.
(Photo credits: The Dillon comes from CBRE marketing materials.)