There are lots of cranes in the skyline over Charlotte, but the majority signify a boom in the city’s rental market, which is a big change from the mid- to late 1990s when mid- and high-rise condominiums and townhomes were the norm.<\/p>\n

The latest land acquisition by a real estate developer affiliated with Lennar will add even more rental properties to the Queen City horizon.<\/p>\n

<\/a>

The property purchased by Lennar in Uptown Charlotte.<\/p><\/div>\n

LMC Block 42 Holdings LLC purchased 7 parcels of land close to Uptown for $23 million, according to a recent Charlotte Business Journal report<\/a>.<\/p>\n

The property, which is bordered roughly by the Lynx Blue Line, East Eight and East Ninth and North College streets, will be the site of a multi-phase, mixed-use development with plans for mid- and high-rise apartment buildings with ground-floor retail opportunities. The mid-rise property will likely be 5 floors of apartments with ground-level retail, while the high-rise plans include 30 floors of living above ground-level retail.<\/p>\n

A later phase in the project could include more multi-family rental units or commercial real estate for office space or a hotel at the intersection of Eighth and College.<\/p>\n

The site’s proximity to the Lynx Blue Line extension and First Ward Park were key reasons for Lennar’s interest in the property, according to the report.<\/p>\n","protected":false},"excerpt":{"rendered":"

There are lots of cranes in the skyline over Charlotte, but the majority signify a boom in the city’s rental market, which is a big…<\/p>\n

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