RangeWater Breaks Ground on Charlotte Community
- Oct 13, 2021
A joint venture between RangeWater Real Estate and ParkProperty Capital is breaking ground this month on the Raven at Tremont, a 261-unit community in Charlotte, N.C. The project is expected to come online in early 2023.
The Raven at Tremont will take shape on more than 3 acres at 536 W. Tremont Ave., surrounded by 10,000 square feet of green space. The community will offer one- and two-bedroom units with nine-foot-high ceilings, equipped with stainless steel appliances and granite countertops along with in-unit washers and dryers. Planned amenities include a sky lounge, fitness center, swimming pool and dog park.
The Raven at Tremont will be located less than half a mile from the Queen City’s Rail Trail, a 3.5-mile public trail, as well as Atherton Mill, a mixed-use development offering a variety of shopping and dining options. Central Charlotte is 2 miles northeast.
A solid pipeline
There are 13 properties totaling 3,189 units under construction within 3 miles of the Raven at Tremont, according to Yardi Matrix data. While the majority are market rate developments, two properties totaling 354 units are fully affordable.
RangeWater’s Charlotte-area portfolio encompasses more than 2,000 units, including the 300-unit IBM Drive Apartments, which also recently broke ground. The developer kicked off the project last month with an anticipated 2023 delivery. Meanwhile, the Raven at Tremont marks ParkProperty Capital’s second project in Charlotte.