Construction progresses on 234 apartments in Cotswold
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The Colwick construction in mid-April. Photo: Alexandria Sands/Axios
Construction is well underway on a 234-unit apartment building at Colwick Road and Chiswick Road in the Cotswold neighborhood called The Colwick.
Why it matters: Cotswold is changing. The Colwick, located at 4335 Colwick Road, near Publix and Chick-fil-A, will be some of the area's first new apartments in years. And they will open just as the surrounding retail steps up its game.
Context: In 2023, Charlotte firm Asana Partners acquired Cotswold Village, the shopping center anchored by Harris Teeter, for $110.4 million. Sycamore, one of the city's most popular breweries, will open a family-friendly beer garden there in 2026.
- Meanwhile, The Fallon Company has moved power lines underground and is making walkability improvements around The Colwick across the street, such as new sidewalks and a crosswalk.
Zoom in: Like many new complexes aiming to stand out in a competitive market, The Colwick boasts a list of amenities, including a raised pool, co-working spaces, a fitness center and yoga studio, golf simulator, a lawn to host outdoor movies and other events, a game room and a pizza oven.
- The project targets "renters by choice" who prefer Cotswold over other neighborhoods like SouthPark or South End, The Fallon Company's CEO Michael Fallon said during a recent construction site tour with Axios.
What's next: The Fallon Company broke ground on The Colwick in September 2024 and should finish in early 2027.
Zoom out: The Fallon Company is also behind Centre South, a long-delayed development in Dilworth in partnership with Charlotte's housing authority, Inlivian.
- The first phase will include 329 apartments.
- When asked for an update, the developer said in a statement: "We're looking forward to receiving a building permit from the county in the near future and to engaging in a successful financing process. We're excited to get things moving as quickly as possible, but those two steps will dictate our exact timeline."
- The Fallon Company, which is based in Boston, is eyeing investments in the Charlotte market as the metro experiences a population boom, while Boston sees residents moving away, the CEO noted.
- The company is also pursuing a massive redevelopment project in Nashville around the new Tennessee Titans stadium.