November 12, 2021
CHARLOTTE, N.C. – Transwestern Investment Group (TIG®), on behalf of a separately managed account, announces it is partnering with Crescent Communities to develop a 285-unit multifamily community on a 10-acre site at 15825 Marvin Road in the city’s Ballantyne submarket. Branded NOVEL Ballantyne, construction will begin in first quarter 2022 with expected completion in the second half of 2023.
“A near shovel-ready site in Ballantyne, which has limited parcels zoned for multifamily use, presents a rare investment opportunity in this rapidly growing region,” said Clarke Crenshaw, Managing Director at TIG. “Novel Ballantyne will provide residents with a best-in-class housing option from a highly respected developer in one of Charlotte’s premier business hubs.”
The garden-style community will consist of three five-story, elevator-served buildings offering a mix of studio, one-and two-bedroom apartments. Premier amenities include coworking space, fitness center with yoga room, a clubhouse, dog park, and resort-style swimming pool with an outdoor lounge.
The affluent Ballantyne submarket, located in Mecklenburg County just 20 miles from downtown Charlotte, has experienced strong population growth and is home to one of the top public-school systems in North Carolina.
Situated outside of Interstate 485, NOVEL Ballantyne is 1.5 miles from Ballantyne Corporate Park, a 4.5-million-square-foot Class A office park comprised of 300 companies and 50,000 employees.
Renderings are available for download here.
About Transwestern Investment Group
Transwestern Investment Group (TIG®) is a real estate investment adviser with $6.3 billion of assets managed since inception. The firm serves a broad range of institutional and high-net-worth clients with its full-service investment management and Transwestern’s integrated operating platform.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The clients included in this press release were not selected based on performance, but because they are some of the largest well-known clients with similar strategic alliances. It is not known whether these clients approve or disapprove of TIG or the services or products it provides.