Development in Steele Creek to open in 2020
Multifamily developer and investment firm Pollack Shores Real Estate Group announced today it has closed on the land purchase for a 350-unit apartment community near Charlotte Premium Outlets in Charlotte, North Carolina. Located near Dixie River Road and Shopton Road, the project will break ground in May and expand Pollack Shores’ footprint in metro Charlotte to more than 1,200 units after the firm entered the market less than five years ago.
The new community reflects the firm’s strategy to bolster its presence in growing suburban markets throughout the Sun Belt. Situated within the fast-growing Steele Creek submarket, the project will serve the second largest employment base in Mecklenburg County, which includes the area’s largest employer, Charlotte-Douglas International Airport. Other top employers in the area include Time Warner Cable, Compass Group, Siemens, Frito-Lay and Microsoft. Approximately 80,000 jobs are located within 5 miles of the development.
“A booming employment market and walkable retail make this the ideal environment for a Class A apartment community,” said Steven Shores, President and CEO of Pollack Shores. “Demand for new multifamily product in Steele Creek continues to grow, and we look forward to expanding our footprint in Charlotte as we develop a community that delivers exceptional experiences for residents and builds long-term value for our investment partners.”
The apartment community is within a ten-minute walk of Berewick Town Center and is also close to I-485. In addition, residents will be able to enjoy a variety of high-end retailers and restaurants found at Berewick Town Center, including Harris Teeter, Enrico’s Italian Restaurant, Clean Juice and Turn & Burn Fitness.
“This community is poised to capitalize on the tremendous growth happening in Southwest Charlotte,” said Palmer McArthur, Vice President of Development at Pollack Shores and Charlotte native. “Pollack Shores now has 1,000 units under construction across the Charlotte metro area, and we are excited to bring our latest development to Berewick and Steele Creek.”
The 30-acre development will consist of twelve buildings featuring garden style apartments. Amenities include a resort-style pool, state of the art fitness center and a clubhouse. Each apartment home will have granite countertops, stainless steel appliances and plank wood-finish floors.
The project is Pollack Shores’ fifth development in metro Charlotte. Other projects include 5115 Park Place, The Penrose, and The Mason at Six Mile Creek (Indian Land, South Carolina). Last month, the firm completed the sale of The Gibson, a 250-unit apartment community located in Charlotte’s Plaza Midwood neighborhood. Matrix Residential, the property management subsidiary of Pollack Shores, retained management services at The Gibson.
Known for acquiring, developing, managing and investing in best-in-class multifamily communities, Pollack Shores is currently active in Atlanta, Orlando, Tampa, Jacksonville, South Florida, Raleigh, Charlotte, Charleston, Dallas, Austin, Nashville and Richmond. Matrix Residential has nearly 31,000 units under management across eight states.
About Pollack Shores Real Estate Group, LLC
Pollack Shores is an award-winning full service real estate company creating value through multifamily investment opportunities throughout the Sun Belt. Founded in 2006, the Atlanta-based company has acquired and developed more than 22,000 multifamily units since inception and currently owns $1.8 billion in total assets. Pollack Shores also owns and operates Matrix Residential, an innovative property management firm dedicated to creating exceptional experiences for every resident, property and client. Matrix Residential manages a balanced portfolio of nearly 31,000 multifamily units across eight states.
Together, Pollack Shores and Matrix Residential are rooted in their mission of maximizing the value and living experience for every community. For more information about Pollack Shores, visit pollackshores.com/. For more information about Matrix Residential, visit matrixresidential.com/.
