A residential development underway in Charlotte's fast-evolving FreeMoreWest neighborhood will soon bring 45 townhouses to market.
CapRock and My Townhome Realty, both based in Charlotte, have partnered to develop Sky Terrace Towns, which will include a mix of floor plans with two bedrooms and three bathrooms in addition to three bedrooms and four bathrooms. Townhouses will range from 1,400 to 1,700 square feet, said TJ Larsen, owner of My Townhome Realty.
Each townhouse will include a private rooftop terrace, spanning from 571 square feet for interior units to 596 square feet for end units.
The 3.8-acre site is located west of uptown Charlotte at 2335 Wesley Village Road, between Freedom Drive and Tuckaseegee Road, alongside the Stewart Creek Greenway.
With the site work now finished, vertical construction on the project should begin in late March. The development is expected to deliver late this year, Larsen said.
Buyers can choose from three kitchen layouts as well as a variety of interior design finishes, home automation options and rooftop flooring. Townhouses also will have large windows providing natural light and an attached garage.
The community will feature a large dog park with two gated areas, pet-friendly exercise equipment and gathering spots for pet owners.
A pre-sale launch event will be held from 2-4 p.m. Saturday at the site, where more details will be revealed. Developers will take down reservations at the event and then begin accepting contracts. Larsen said the project has already received a tremendous amount of interest.
Prices for townhouses with two bedrooms will start in the $390,000s, while three-bedroom units will begin in the $430,000s. Larsen, who declined to comment on the estimated project cost, said the developers expect to fetch $20 million collectively on sales.
Wesley Towns LLC, affiliated with CapRock, purchased the wooded site in March 2019 for $1.03 million, according to Mecklenburg County property records. Developers began clearing the land in June. Larsen said millions of dollars have gone into site work, such as evening out land elevation and adding a public street and retaining walls.
The townhouse project is located within an opportunity zone, making developers eligible for certain tax breaks.
“The existing retail, restaurants and office in the area is tremendous; but, what is most exciting is the continued explosive growth in the area," Larsen said. "At present there are enormous real estate investments being made by businesses of all types just blocks from Sky Terrace Towns, and, while there are a host of recently completed residential apartment buildings in the area, there are very few new homes for sale. We will fill a void in the market and deliver 45 new, rooftop-terrace townhomes in the heart of FreeMoreWest.”
My Townhome Realty will handle sales at Sky Terrace Towns. CapRock Building Group is the general contractor, and Charlotte-based FMK Architects is the architecture firm for the project.
CapRock and My Townhome Realty have partnered on other townhouse projects in Charlotte, including two in the Belmont neighborhood just outside of uptown, CityScape Towns and Periode on the Greenway.