Terwilliger Pappas & Federal Capital Partners Start Construction in Ballantyne Area
- Aug 18, 2015
By Adelina Osan, Associate Editor
The 194-unit apartment complex situated in the Ballantyne area of south Charlotte is ready to start construction. Apartment developer firm Terwilliger Pappas Multifamily Partners and real estate investment firm Federal Capital Partners team up for the project.
Solis Ballantyne is an apartment community located nearby nationally recognized corporate campus Ballantyne Corporate Center, Morrison Family YMCA, with easy access to major highways and the airport.
Community amenities range from central courtyard with a resort style pool and grilling stations to an expansive fitness center with a yoga room, pet walk and grooming station and clubrooms for gatherings, media and entertainment or detached garages.
Terwilliger Pappas Multifamily Partners won a rezoning for the property back in January, and Terwilliger Pappas and the Maryland-based leading real estate investment company Federal Capital Partners acquired 7.8 acres at the site earlier this month for $3.4 million from Harris Teeter and an affiliate of The Harris Land Co., according to BizJournal.
The two developing firms partnered up on another Solis-brand project, a 375-unit apartment community at the Waverly mixed-use project in South Charlotte, after purchasing 17.5 acres for $7.65 million.
Solis Ballantyne’s general contractor is Fortune Johnson and the design team includes Rule Joy Trammell Rubio and ColeJenest & Stone. The apartment complex is expected to deliver its first apartments for occupancy in August 2016.
Rendering courtesy of Terwilliger Pappas