Alliance Residential Starts Work on Charlotte Development
The company broke ground on Broadstone Bryant Park, a 345-unit property that is its first project in the city.
Alliance Residential Co. has broken ground on Broadstone Bryant Park, a 345-unit apartment community just west of Uptown Charlotte in the FreeMoreWest district. The property will have studio, one-, two- and three-bedroom units.
The community will feature a 24-hour fitness facility with a yoga studio, Wi-Fi-enabled co-working space and a resort-style pool with a sun deck. There will also be electric car-charging stations, bike storage, 24-hour package, dry-cleaning pickup and a pet spa with grooming station.
According to the developer, the project anchors the last large developable tract of land in the neighborhood. It also connects two of the primary activity nodes of the West Morehead Street/Freedom Drive intersection and the Wilkinson Boulevard corridor leading to Charlotte Douglas International Airport.
Charlotte Apartment Market
The Charlotte apartment market is still in growth mode, supported by several demographic trends. For one thing, Charlotte has been the top metro area in the U.S. for Millennial population growth over the last 10 years, at about 30 percent. The region also ranked fourth among U.S. metros for job growth in 2017, with local employment expanding 3.27 percent.
Phoenix-based Alliance, which is one of the largest apartment developers and managers in the country, opened a regional office in Charlotte in 2016. Broadstone Bryant Park will be the company’s first project in Charlotte and second in North Carolina, and is slated for completion in the summer of 2019.
