Embrey Acquires Land for Charlotte Project
The 343-unit development is slated for a 2025 completion.
Finley. Rendering courtesy of Embrey Partners
Embrey Partners continues its expansion in North Carolina with the land purchase for Finley, a 343-unit multifamily development in Charlotte, N.C. The project marks the company’s second development in the market.
Set to rise in Charlotte’s University City submarket, Finley will be close to an array of dining, shopping and entertainment options, as well as employment opportunities in the area. University of North Carolina at Charlotte is also accessible via the LYNX Blue Line.
In a prepared statement, Embrey’s Executive Vice President of Development Brad Knolle mentioned that University City will continue to be a highly sought-after place to live. With $2.1 billion in multifamily assets changing hands in the first half of 2022, the Charlotte multifamily market continues to showcase sustained demand due to growing population and jobs, according to a recent Yardi Matrix report.
Upon completion, the development is set to encompass a clubhouse, game room, business center, conference room and fitness studio. An outdoor gas fireplace, courtyard, pool and grilling area will also be among the common-area amenities at the property.
Plans for units at Finley call for quartz countertops, custom cabinetry, stainless steel appliances, undercabinet lighting and undermount sinks. Finley’s first units and the clubhouse are expected for the third quarter of 2024 and the overall project has a 2025 delivery date.
