CHARLOTTE, NC – Watermark Residential, a wholly owned subsidiary of Thompson Thrift and one of the country's leading multi-family developers announced the acquisition of 15.9 acres of land in Charlotte for development of Taylor Farms by Watermark, a resort-style apartment community that includes eight timber-framed three-story, garden-style structures and sixty-four freestanding garages. Construction will begin in March 2021 and should be completed in February 2023.
"Watermark Residential is excited to begin construction on our first property in the Carolinas," he said Tyler sourdough, Land Acquisition Director, Southeast for Watermark Residential. "The Charlotte The market consistently recorded convincing employment and population growth, making it one of the strongest multi-family markets in the country. Steady rental growth and tight market occupancy point to continued demand for shared apartments like Taylor Farms by Watermark. We look forward to adding quality and luxury to the watermark Charlotte Area."
Located just off I-485 and Mallard Creek Road in the University City submarket, Taylor Farms by Watermark will comprise 276 one, two, and three bedroom condominiums with an average size of nearly 1,000 square feet. Every home at Taylor Farms will feature premium Watermark finishes, including gourmet bar kitchens with quartz countertops, stainless steel appliances, smooth glass hobs, walk-in closets, and full-size washers and dryers.
In addition, the community offers resort-style amenities such as a professionally designed clubhouse with televisions, conference rooms, technology centers and much more. A 24-hour fitness center with state-of-the-art equipment and Fitness On DemandTM virtual training kiosks and spinning rooms; A swimming pool with cabanas and entertainment areas as well as pet-friendly bark parks and dog spas. An on-site management team dedicated to providing the highest level of service to residents will also be available.
Conveniently located near the I-485 / I-85 interchange, Taylor Farms by Watermark provides easy access to over 3,000 companies in the Northeast Corridor and is only 20 minutes from Uptown Charlotte. The popular PNC Music Pavilion and the world famous Charlotte Motor Speedway are both just an eight minute drive away. Wells Fargo & # 39; s The Customer Information Center, a 150-acre campus with over 10,000 employees, is just five miles south, while other major employers, including Atrium Health, UNC Charlotte and IBM are less than a 15-minute drive away. Numerous high-end retail options such as Concord Mills' 200 stores are also nearby.
"With immediate access to I-485 – which is a high priority in the northern suburb Charlotte Taylor Farms by Watermark is well positioned to thrive, "said the market – and a short commute to a variety of retail and large employment centers." Josh Purvis, managing partner of Watermark Residential.
The greater Charlotte MSA area has 2.6 million residents and is projected to grow to 2.85 million by 2025. This makes it the third fastest growing city in the country. Charlotte is also home to 16 Fortune 1000 headquarters. Centene, a Fortune 500 health insurance company, is developing a new 80 acre campus in University City. Employment growth in the MSA averaged 2.66 percent from 2015 to 2019, well above the US average over the same period. With the sub-market of the university town seeing rental growth of 5.5 percent year-on-year and Charlotte expecting housing stock to grow by 38 percent by 2030, Taylor Farms by Watermark will appeal to residents and investors for many years to come.