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Jul. 3, 2013

Spectrum To Build Luxury Ballpark Apartments

By Eliza Theiss, Associate Editor

Charlotte, Forbes top U.S. cities darling (this time ranking at No.4  on the top ten fastest growing cities since the recession list with a 15.8 percent growth since 2007) continues to show clear signs of its boom. The now 775,202-strong city’s population boom of course generates demand for housing, and with downtown living still a trend on the rise, Charlotte’s city center is aflutter with construction activity.

One of the most recent multifamily projects to be announced is Spectrum Properties’ The Mint. Expected to break ground by the end of the year, the boutique apartment project will rise on the corner of South Graham and West Trade streets. In fact its location is the source of the name—the apartment building will be built on the block where a U.S. Mint branch was located, until 1933.

According to the Charlotte Business Journal, future residents will enjoy amenities such as a pool, fitness center, high-end community room and web lounge, two private courtyards, a sky terrace with views of the Queen City skyline, bike-sharing program for residents, and a pet elevator connecting pet owners to a dog park.

The seven-story development will be comprised of two levels of covered parking, supporting five stories of residential units with an average size of 900 square feet. The project’s 177 luxury residences will comprise one- and two-bedroom units. Rents are expected to be lower at The Mint due to lower construction costs stemming from the building employing a wood frame.

The uptown mid-rise property will border the $54 million BB&T Ballpark, currently under construction, which is expected to make it a sought after location. The ballpark, set to be finished in spring 2014, will be the new home of the minor-league Charlotte Knights. The 10,000-seat stadium is expected to generate significant income and development in the surrounding area. Multifamily projects rumored or under development in the area include Woodfield Investments’ 230-unit project on South Graham St., covered on this page.

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Image courtesy of BB&T Ballpark

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