Proffitt Dixon Partners Breaks Ground on New Developement in Charlotte; Senior Community Planned for Tega Cay

By Amalia Otet, Associate Editor

Charlotte-based Proffitt Dixon Partners, a multifamily investment and development firm currently focused on Class A apartments in North Carolina, South Carolina and Virginia, recently broke ground on a new development in the Queen City. The 208-unit luxury apartment community will sit on a five-acre tract at the New Bern Light Rail station in Charlotte’s Historic South End.

“The light rail line is a great location for new luxury apartments,” said Proffitt Dixon’s managing principal Stuart Proffitt in a release. “People can take the LYNX Blue Line to work, which means fewer cars on the road and cleaner air. Plus, rents will be competitively-priced compared to older communities with fewer amenities.”

Plans call for a $26.2 million investment that will result in an upscale, environmentally friendly and cost-efficient community to include studio, one-, two- and three-bedroom apartments and lofts. The units will feature granite countertops, stainless steel appliances, built-in microwaves, French doors leading to private patios and balconies, ceiling fans and controlled-access entry. Additional amenities include a swimming pool with a multi-level sun deck, a 6,000-square-foot clubhouse, a fitness center and a rooftop Zen lounge with panoramic views of the Charlotte skyline, as reported by Multi-Housing News Online.

The Proffitt Dixon team has decades of combined urban residential mixed-use and multifamily development experience in the Carolinas, Florida and California. The partners have developed more than 4,600 multifamily residential units with a capital commitment of over $725 million. Along with its investors, the firm owns and operates 546 units in three Triangle-area communities.

In other news, Tega Cay will soon be home to a new premier retirement community. Wellmore center will be developed by Charlotte-based Senior Living Communities on ten acres in the Stonecrest Development located on SC Highway 160.

The 130,000 square-foot facility will provide residential accommodation for up to 130 residents, according to the Charlotte Business Journal. In addition, the $30 million complex will also offer assisted living, memory care and skilled nursing services (pending approval by the state) as well as a 25,000-square-foot-clubhouse and wellness center.

Construction is expected to begin in July 2012, with an opening slated for January 2014.

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