NRP Properties Pursues Robust Expansion In Charlotte
NRP Properties, an affiliate of The NRP Group, is planning a sizable number of new apartment units in Charlotte: 130 units on a site near North Tryon Street and Old Concord Road; 140 units on Northchase Drive, north of North Tryon Street; and, in partnership with locally based The Drakeford Co, 75 age-restricted units on a site on West W.T. Harris Boulevard. The Ohio-based developer has applied for rezoning for the sites, the Charlotte Business Journal reports.
Loft 135 (pictured) was the company's first venture into the Charlotte market, a 298-unit apartment building on 2.4 acres. It features four stories of residential over two levels of parking, but along Morehead and Carson are five stories of residential. If all the new projects are built, NRP will have 978 units in its local portfolio, most of which will be in north Charlotte, which is benefiting from the LYNX Blue Line light-rail expansion that will open next year. [CBJ]
