Preleasing Launched at NC Project’s 3rd Community

This is the largest residential property at the Novi Rise mixed-use development.

First move-ins are expected next month. Image courtesy of Lansing Melbourne Group and Denholtz Properties

Lansing Melbourne Group and Denholtz Properties have launched preleasing for Novi Rise, a newly developed apartment community in Concord, N.C. Located at 30 Market Street in Concord, the property mixed-use community includes 167 residential units. First move-ins are expected in mid-May.

Novi Rise represents not just the hub, but the largest of three lifestyle-branded mixed-use communities comprising Novi, an interconnected portfolio of communities in downtown Concord. Last year, LMG and Denholtz Properties announced the completion of the 48-unit Novi Flats, with more than 2,300 square feet of retail space, less than one block away. The last of the Novi communities, Novi Lofts, will bring 89 units and 5,134 square feet of retail space to Concord late this year.

Unforeseen headwinds

The seven-story Novi Rise houses a number of common-area amenities, including Amazon package lockers. Residences include upgraded cabinets, refrigerators equipped with ice makers and large closets.

LMG and Denholtz Properties have also secured a lease with Salon Lofts for 4,757 square feet of ground-floor retail space at Novi Rise.

“Whenever you are first to market, as we were in Concord with the Novi portfolio, unforeseen challenges are a reality,” Stephen Cassidy, president of Denholtz Properties, told Multi-Housing News. “Beyond that, the macroeconomic conditions and supply chain volatility of the past several years did cause construction delays. Peter Flotz and the LMG team are unparallelled in their ability to execute public-private partnerships like this. Their experience was critical in helping us realize our vision in downtown Concord and bring this project from the drawing board to reality.”

The combined teams will have the financial acumen and agile operational platform required to raise capital and oversee projects in a volatile market environment.

“These factors have all played a crucial role in our construction of Novi Rise, a project that will help power the continued rebirth and revitalization of Concord for years to come.” Earlier this year, Middleburg announced its intention to build a single-family rental community in North Carolina, with construction starting late January 2024.

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