SunCap Property Breaks Ground on NC High-End Community
The four-story, 47-unit community will offer two-and three-bedroom apartments with rental rates estimated to start at $3,400 per month. The property marks SunCap’s first multifamily development in Charlotte.
By Roxana Baiceanu
SunCap Property Group, a company specializing in build-to-suit and apartment properties, is one of the latest developers to step into Charlotte, N.C.,’s booming multifamily market. The firm broke ground on Draper Place, a four-story, 47-unit luxury community in the Eastover neighborhood and expects to deliver the first homes by late 2018.
“Draper Place brings all the comforts of the modern residence to a boutique apartment community in one of the city’s most desirable neighborhoods. Our spacious, open floor plans will be attractive to residents looking for an option to rent in a sophisticated, upscale community. This is an underserved market in Charlotte, and we are excited to bring an elevated living option to SunCap’s backyard,” said Fred Bolt, executive vice president with SunCap, in prepared remarks.
The community will be located at the intersection of Randolph Road and Dotger Avenue. It will offer two- and three-bedroom units ranging from 1,650 to 2,200 square feet.
- a powder room
- a den
- covered balconies with gas fireplaces
- dry bars with wine refrigerators in the kitchen
- “his” and “hers” master closets with wood closet systems
- full-sized laundry rooms with sinks
- 10-foot ceilings
- oversized windows in the dining room
Planned building amenities include reserved, underground parking and storage spaces for each residence. In addition, the property will offer residents a community club room that comes with a private conference room and kitchen with direct access to an outdoor gas grill and custom fireplace.
The team responsible for delivering the project also includes architect Cline Design, general contractor Metrolina Builders and management company Rivergate KW Residential. This will be SunCap’s first community developed in Charlotte.
Rendering courtesy of SunCap Property Group