Addressing a lack of transit-oriented developments in the city, Middleburg Communities has opened Mosby University City in Charlotte, N.C. The multifamily developer, alongside its joint venture partner The Mattoni Group, broke ground on the site that’s located across from a LYNX Blue Line station in March 2020. The project also secured a $9.3 million construction loan that was arranged by Walker & Dunlop a year prior.
The 309-unit luxury multifamily community is split into four, four-story apartment buildings with one-, two- and three-bed units ranging in size from 748 to 1,418 square feet. The apartments are equipped with Bluetooth keyless entry, Nest thermostats and EnergyStar washers and dryers. The community’s amenities include a fitness center, clubhouse, pool house, outdoor kitchen and grilling areas, saltwater pool, dog park and spa, lounge, parking garages and tree sanctuary.
Located at 404 Gallop Lane, Mosby University City was built across from the University City Boulevard station of the city’s LYNX Blue Line light rail service. The community is also roughly 20 minutes away from downtown Charlotte and five minutes away from The University of North Carolina at Charlotte.
Duane Wooldridge, president of Middleburg Management, said in prepared remarks that the community has already seen more than two dozen leases signed within the first weeks.
“We are excited to join the growing number of developers who recognize the importance of transit location,” Wooldridge told Multi-Housing News. “We feel that our leasing thus far has directly benefited from our proximity to transit so we also know the public is embracing it.”
BUILDING MORE MOSBY DEVELOPMENTS
While not a transit-oriented development, Middleburg also began construction on Mosby at Riverlights in December. The 250-unit community is Middleburg’s first foray into the Wilmington market and is expected to be complete in late 2020.
More recently, Middleburg also broke ground on a luxury apartment community in Huntsville, Ala., in June. The developer has been working on Mosby Bridge Street, a 290-unit community with one-, two- and three-bed units, for an expected completion in April 2022.