Middleburg Communities (Middleburg), a Vienna, Virginia-based real estate investment, development, and management firm, has acquired a 30-acre development site in Charlotte, NC and will start construction on a 272-unit, Class A apartment community, Mosby Steele Creek. The community will include 10, two-story buildings and a standalone amenity/leasing center. Construction is expected to be completed in Q2 2023.
“Charlotte is one of Middleburg’s most preferred markets due to its population and job growth. We are particularly excited about Mosby Steele Creek because of the demonstrated viability and success of Class A multifamily in the submarket. There is a high level of demand from investors, lenders, and consumers alike,” said TJ Sedeski, Assistant VP of Investments.
Mosby Steele Creek apartments, located at 13925 Erwin Road, will feature high end interior finishes including stainless steel Energy Star appliances, designer hardwood cabinets, 9’ ceiling heights, granite countertops and LVT plank flooring. The one, two and three-bedroom units will include in-unit washers and dryers, keyless entry, Nest thermostats, and many units include private yards or balconies. Residents will have excellent access to Charlotte area employment centers with more than 142,000 jobs within a 20-minute drive. Uptown and South End Charlotte host another 150,000 jobs within a 30-minute drive.
Charlotte has been growing at an average annual growth rate of 1.9%, triple the national average and reflecting the addition of 236,000 people between 2014 and 2019. The city features a diverse economy that is home to the headquarters of six Fortune 500 companies. The Steele Creek submarket provides an abundance of amenities and access to key transportation routes while maintaining a high quality of life element in a suburban setting.
About Middleburg Communities:
Middleburg Communities is a fully integrated multifamily development, investment, construction and management company operating in the southeastern and mid-Atlantic United States. Since 2004, Middleburg has acquired and developed more than 21,000 apartment units, executing approximately $3.0 billion in transactions. The Middleburg team shares a vision for greater value creation through community impact. The firm’s success is rooted in a genuine desire to serve its local communities in thoughtful and holistic ways. Middleburg embraces people, property, and partnerships to enhance the lives of others, contribute positively to its neighborhoods and maximize real returns for partners. Middleburg Communities Founder and Managing Partner, Chris Finlay, in 2015 founded Shelters to Shutters, a national 501(c)(3) organization that transitions individuals and families from homelessness to economic self-sufficiency by educating and engaging the real estate industry to provide employment and housing opportunities. For more information, please visit www.MiddleburgCommunities.com.