RangeWater Wraps Up Charlotte Luxury Community

This project marks the fifth collaboration between RangeWater and McShane Construction Co.

The Kendry in Charlotte, N.C.
The Kendry represents RangeWater’s sixth ground-up development in Charlotte. Image courtesy of McShane Construction Co.

RangeWater Real Estate has wrapped up construction on The Kendry, a 300-unit luxury community in Charlotte, N.C. In its fifth collaboration with RangeWater, McShane Construction Co. served as general contractor. In addition, Poole & Poole Architecture provided design services.

The development team broke ground on the project in 2021. A $38.8 million loan from by Renasant Bank financed its construction, Yardi Matrix data reveals.

Spanning 28 acres, The Kendry encompasses three garden-style buildings with one- to three-bedroom floorplans ranging between 704 and 1,409 square feet. Units feature granite countertops, walk-in closets and private balconies or patios, among others.

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The community amenity package, measuring nearly 10,000 square feet, includes a swimming pool, a couple of courtyards, a gym, a game room and a Zoom room, to name a few.

Located at 8402 IBM Drive at the intersection with West W.T. Harris Boulevard, the property is less than 1 mile from Interstate 85. Several dining and retail options are within 2 miles of the community, while Charlotte’s city center is roughly 9 miles southwest.

Charlotte’s multifamily scene

Metro Charlotte’s supply pipeline totaled upward of 38,400 units under construction as of June, with developers having some 92,000 units in the planning and permitting stages, according to Yardi Matrix data.

Earlier this year, a joint venture between Portman Holdings and National Real Estate Advisors topped out Linea at the Line, a 370-unit luxury project rising 25 stories in Charlotte’s South End district. First units will come online next year.

In addition, developers delivered more than 6,500 units and broke ground on nearly 2,900 units in Queen City, the same source shows year-to-date through May.

This year’s recorded completions marked a 38.1 percent increase from the number of units that came online during the same interval last year—upward of 4,000—but the starts took a big hit, decreasing by 63.1 percent from last year’s figures of more than 7.700 units during the same period, according to the data provider.

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