The Drakeford Co.’s rezoning request included site elevation plans, including these partial elevation drawings of the proposed townhomes.<\/p><\/div>\n

Two pieces of land are up for rezoning plans for construction of two townhome communities along Central Avenue in Plaza Midwood and 36th Street in NoDa.<\/p>\n

The Drakeford Company plans on 16 three-story townhomes at the northwest corner of Central and Chatham avenues in Plaza Midwood that would start in the $300,000s. The half-acre plot of land is currently occupied by the building that houses Pass Time Billiards.<\/p>\n

The site on East 36th Street is 1.35 acres and would house 36 townhomes on the land that is now Twin Oaks apartments.<\/p>\n

Bobby Drakeford, head of Drakeford Co., told the Charlotte Observer that he sees a market for more residential space in Plaza Midwood and NoDa at a lower price point and can offer that by building townhomes.<\/p>\n

In both NoDa and Plaza Midwood, prices are approaching and exceeding a half a million dollars for single-family residential properties in and around the areas where Drakeford plans to build its townhomes.<\/p>\n

Currently, there are 37 residential properties for sale in Midwood, which is only 3 months of inventory given demand for that area. NoDa has slightly more inventory, with 22 properties for sale, which amounts to about 4.5 months inventory. The average price for a Midwood home is just under $420,000, as of April 12.<\/p>\n

The Charlotte-based Drakeford Co. specializes in urban, infill residential real estate sites. The company is responsible for Plaza-Vu in Plaza Midwood, as well as several Wesley Chapel projects.<\/p>\n","protected":false},"excerpt":{"rendered":"

Two pieces of land are up for rezoning plans for construction of two townhome communities along Central Avenue in Plaza Midwood and 36th Street in…<\/p>\n