McShane Construction Co. has broken ground on IBM Drive Apartments, a 300-unit development in Charlotte, N.C., on behalf of developer RangeWater Real Estate. Poole & Poole Architecture will handle design for the project that is expected to come online in March 2023.
RangeWater acquired the vacant land at the end of May for $3.8 million, according to Mecklenburg County records, and secured a $38.8 million loan from Renasant Bank for the construction of the garden-style development.
IBM Drive Apartments will take shape at 1029 W. W.T. Harris Blvd. on a 28-acre site in North Charlotte. Plans call for three multi-story buildings, a central clubhouse, as well as a 10,000-square-foot amenity space that is set to include a swimming pool and dog park.
The development places future residents on the edge of the W.T. Harris Boulevard retail corridor and within minutes of Interstate 85. University of North Carolina at Charlotte is less than 2 miles away, while Great Wolf Lodge Water Park and Charlotte Motor Speedway are roughly 7 miles northeast.
Over the past three years, McShane Construction Co. built close to 1,000 units in Georgia for RangeWater and IBM Drive Apartments marks their first collaboration in North Carolina. McShane is also active in Arizona. In November, the company was selected as contractor for The Related Group’s first multifamily project in the state.