These “neighborhoods in a box” feel destined for suburban Charlotte
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Image via Ironstate Development Company
There’s a fascinating experiment underway on the outskirts of New York City.
Far from the heart of central Manhattan, a real estate developer is erecting all the elements of a trendy urban neighborhood in one fell swoop — and charging premium prices for it.
These giant apartment towers are loaded with high-end bodegas, cafes and other retail shops on the ground floor. Community gardens and carefully manicured walkways lie right outside.
They are billed as an “all-encompassing living experience for today’s urbanite,” according to marketing materials. Instead of waiting for culture and hipness to build over time, Ironstate Development is putting it together all at once.
The publication City Lab gave them a different name: Neighborhoods in a box.
These things are massive — from 900 units at Staten Island to 2,200 units in Harrison, New Jersey. They’re not cheap, either. Rent is expected to run from $1,995 for a studio apartment on Staten Island to $5,190 for a two-bedroom in Jersey City.
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Urby Staten Island
Eventually, all the hot food trends that start in New York City make their way down the East Coast to Charlotte.
Take Chopt, for example.
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This housing trend feels destined to arrive on Charlotte’s real estate scene as well.
It likely won’t be at the same scale. Our market doesn’t require investments in 1,000 apartment units at a time. The price won’t be as high, either: $2,000 for a studio is rich even by Uptown standards (you’ll pay a measly $1,100 to $1,500 for that privilege here).
There’s plenty of evidence that people in Charlotte want an urban experience even far from the center city.
The closest thing Charlotte has to the “neighborhood in a box” concept today is Ayrsley.
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This isn’t a knock. Developer New Forum has done an incredible job creating community, cool outdoor spaces and intriguing retail locations on the very outskirts of Charlotte. Rent has followed suit. One-bedroom units at Ayrsley Lofts are starting at $1,200 per month right now.
There are plenty of differences. It’s taken years of work to get to this point, and the amenities are spread across a few different buildings. But it’s an example of the demand for urban experiences this far out.
[Agenda story: Ayrsley has gotten cool — and it’s becoming Steele Creek’s new downtown]
The awesome lawn for games and drinks in front of Piedmont Social House.
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Meridian Place down Monroe Road is moving in this direction as well.
One key difference here: The placemaking efforts are largely coming from a community group, Monroe Road Advocates, rather than the developers themselves.
[Agenda story: Monroe Road is looking for more love – and a place to hang out]
And Waverly in far-south Charlotte was also built on the premise that people want the perception of being able to walk to work, to the store and to eat. Even studio apartments at the new Solis Waverly are going for $1,100-plus (about the same price as new units in South End). Three bedrooms will set you back $3,000.
It doesn’t quite deliver on the urban experience at this point, but that’s at least how they’re marketing it.
Look for more suburban development in Charlotte to have big-city feels.
Waverly and Meridian Place are steps toward this future, but I expect the trend to only accelerate.
West Charlotte, Matthews, Indian Land, Waxhaw, Indian Trail — the apartment towers and boutique shops of planned communities are likely coming your way.
Cover image via Ironstate Development Company
