HHHunt acquired 25.7 acres on Harrisburg and Sam Dee roads, near Interstate 485, for $2.1 million
An apartment developer out of Blacksburg, Virginia, recently closed on land in east Charlotte, where it’ll build its fourth local project.
HHHunt acquired 25.7 acres on Harrisburg and Sam Dee roads, near Interstate 485, for $2.1 million, according to Mecklenburg County real estate records. There, the firm will develop Abberly Commons, a 287-unit apartment project.
During its rezoning, the project was somewhat contentious with local residents and elected officials. Four councilors voted against approving the rezoning, citing a lack of office space in the area, as well as traffic safety concerns. The land was previously entitled to accommodate mixed-use development.
The rezoning was ultimately approved in December 2019.
During the rezoning, HHHunt committed to 5% of the units being affordable to residents earning 80% of the area median income. A spokesman on Thursday said 15 units would be at that income restriction level.
Construction on Abberly Commons is set to begin this summer, with the clubhouse delivering in September 2022 and the first residential building a month later. The project has an estimated construction value of $52.3 million.
Abberly Commons will include one- and two-bedroom apartments between 695 and 1,492 square feet. Units will include ADT smart-home technology, with devices like smart hubs, smart thermostats and smart locks.
Amenities will include a fitness center, pool with sundeck, outdoor entertainment area, walking trail, pocket parks and a dog park, car-care center and car-charging stations, and a clubhouse with a demo kitchen, technology lounge and social lounge.
Elsewhere in the local market, HHHunt developed Abberly Woods in Charlotte and Abberly Green in Mooresville. It’s underway on Abberly Liberty Crossing in Huntersville.
Sink Kimmel, formerly at The Nichols Co. and now at Selwyn Property Group, represented the buyer in the transaction. Jan Ringeling at Moody Group represented the seller.
See full article from Biz Journals HERE