- Updated On:
- April 7, 2022
MVP EQUITIES has Rezoned a 50-acre parcel located at 6106 Hucks Rd in Charlote NC that will be used for the development of a 512-unit multifamily complex in an A-class location.
This 512-unit development will be a mix of 110 Townhomes and 402 Apartments. This is not only an amazing location, but also MVP EQUITIES is also excited about Charlotte because it is seeing massive rent growth due to a housing shortage amid massive population growth.
- According to the US Census, by 2050, that growth will add another 1.8 million people to its current population and spur the creation of nearly a million more jobs.
- Substantial development activity flanks the Charlotte central business district and with Miami billionaire hedge fund manager David Tepper’s record $2.2 billion deal to buy the Carolina Panthers football team in June of 2018, more activity is anticipated. Four banks will anchor new office towers, and new apartments and a 1,000-room hotel are all underway immediately adjacent to the Panthers’ Bank of America Stadium.
- With Bank of America’s headquarters and a Wells Fargo hub, Charlotte is the nation’s third largest financial center and a power player in professional and business services ranging from tech-driven marketing to procurement and logistics. Power is also a key Charlotte industry thanks to Duke Energy’s performance in electric utilities, natural gas and renewables, now the nation’s largest electric power holding company. Charlotte is also a supply chain hub for the Southeast, supported by CSX and Norfolk Southern rail lines. All told, the Charlotte Chamber of Commerce lays claim to 14 Fortune 1000 headquarters, as well as other multinational corporations.
- The biggest percentage gains in private-sector employment come from health services (including the Atrium Health hospital network), hospitality and construction, the U.S. Bureau of Labor Statistics reports.
- Millennials have also taken note of Charlotte’s robust fundamentals, which allow them to maximize their salaries and quality of life and are flocking there in droves. Last year, Charlotte took the top spot in Business Insider’s ranking of where Millennials are moving and came in fifth in a list of the 25 best cities for people under 35 for its job opportunities and strength of paycheck. Job openings are 27 percent better than the national average in Charlotte, and the millennial paycheck goes far given the city’s affordable cost of living.
This 512-unit development will be a mix of 110 Townhomes and 402 Apartments. This is not only an amazing location, but also MVP EQUITIES is excited about Charlotte because it is seeing massive rent growth due to a housing shortage amid massive population growth.
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