Description
Prime Redevelopment Opportunity to acquire a fully entitled 4.24-acre portfolio, approved for 228 units with a total Gross Building Area (GBA) of 220,000 SF. This offering includes (Parcel 1) 1.34 acres with 53 units approved under a Specific Plan (SP). GBA: 90,000 SF. (Parcel 2) 2.90 acres with 175 units approved under Mixed-Use Multi-Family (MUL-A) zoning. GBA: 130,000 SF. Metro's collective approval allows for up to 228 units across both parcels, with a combined GBA of 220,000 SF on 4.24 acres of contiguous development land. Key Highlights: 891 feet of prime road frontage along Charlotte Pike. No sidewalk requirement on Charlotte Pikea significant cost-saving advantage. Located within a major retail corridor featuring Walmart, Lowe's, Target, Dick's Sporting Goods, and more, all within a 1/2 mile radius. Directly across from the Summit West and Novel West Apartments. Entitlements: Parcel 1 (SP): Approved on October 22, 2022. Parcel 2 (MUL-A): Approved on August 15, 2023.
School Ratings & Info
Description
Prime Redevelopment Opportunity to acquire a fully entitled 4.24-acre portfolio, approved for 228 units with a total Gross Building Area (GBA) of 220,000 SF. This offering includes (Parcel 1) 1.34 acres with 53 units approved under a Specific Plan (SP). GBA: 90,000 SF. (Parcel 2) 2.90 acres with 175 units approved under Mixed-Use Multi-Family (MUL-A) zoning. GBA: 130,000 SF. Metro's collective approval allows for up to 228 units across both parcels, with a combined GBA of 220,000 SF on 4.24 acres of contiguous development land. Key Highlights: 891 feet of prime road frontage along Charlotte Pike. No sidewalk requirement on Charlotte Pikea significant cost-saving advantage. Located within a major retail corridor featuring Walmart, Lowe's, Target, Dick's Sporting Goods, and more, all within a 1/2 mile radius. Directly across from the Summit West and Novel West Apartments. Entitlements: Parcel 1 (SP): Approved on October 22, 2022. Parcel 2 (MUL-A): Approved on August 15, 2023.
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