Upscale Community is Michaels’ First Market-Rate Community in North Carolina
June 22, Camden, NJ-- The Michaels Organization, a national leader in residential real estate, broke ground on its first market-rate apartment community in North Carolina, following a successful financial closing. The community, Mason Apartments, is located within a mile of The University of North Carolina at Charlotte and within walking distance to a Light Rail stop with direct access to Uptown Charlotte.
“Charlotte is one of the fastest growing cities in the country and a recognized hub for finance, technology and health care industries, and a destination for arts, culture and sport,” said Michael Flanagan, Executive Vice President of Development at The Michaels Organization. “We are delighted to bring this much-needed housing to this growing community around the University.”
The $67 million transit-oriented development will offer 278 apartment homes in a mid-rise building and 24 townhomes. Floor plans will include studios, one bedroom, two bedroom, and three bedroom townhome units, with spacious floor plans and abundant closet space and modern appliances.
Amenities will include a large two-level fitness room with state-of-the-art equipment, agility training equipment, and a separate virtual training/yoga room. Also included are several lounge areas, a pub room, multiple private meeting spaces, a large coworking space, interior bike storage, and a pet wash room. Exterior amenities include a large courtyard with swimming pool, BBQ grill area, fire pits, several seating areas, dog park and a second-floor rooftop space. Mason’s prime location includes close proximity to UNC Charlotte, Innovation Park, and many cultural and recreational establishments. It’s also a 10 minute walk to the light rail station that can take residents to Uptown Charlotte.
Michaels, a vertically integrated real estate leader with full scale capabilities in development, property management, construction and investment services, has been offering creative housing solutions for almost 50 years. Its current portfolio spans 440 communities across 37 states, D.C., and the Caribbean. North Carolina, which is experiencing a boom in population growth as well as economic development, is a primary market for Michaels, which has experience serving residents across the income spectrum in affordable, market-rate, military, and purpose-built student housing communities.
Other members of the Mason development team include Catalyst Capital Partners, a North Carolina based real estate leader focused on strategic and sustainable development opportunities. Passero Associates is serving as the Architect. Michaels Construction is serving as the General Contractor and Michaels Management will serve as the property management company. Construction is expected to be complete by the end of 2023.Back to News Next article