Fallon Co. Kicks Off $500M Charlotte Project

Fallon Co. Kicks Off $500M Charlotte Project
News| June 25, 2026| Mike Boyd
Atlanta & Southeast + Apartment Buildings

The Fallon Co. has broken ground on phase one of its mixed-use development called Centre South. The Charlotte Business Journal reports the first phase is a 329-unit, midrise multifamily development called Twelve03 at 1203 S. Caldwell St. in the Dilworth area of Charlotte. Centre South is a 16.7-acre, mixed-use community. It is planned to have up to 975 residential units, 405,000 square feet of Class A office space, 36,000 square feet of retail, a 180-room hotel and a 1.5-acre central green space.

The entire project is expected to cost about $500 million. Fallon secured a $100.5 million financing package for Twelve03 at Centre South earlier this year. TD Bank provided a senior construction loan, while RXR Realty Investments provided equity placement.

Twelve03 will have studio, one- and two-bedroom apartments. Amenities will include a co-working lounge, pool, pool deck with grilling stations and reservable cabanas and fitness center.

Samet Corp. is heading up construction, and Charlotte-based BB+M Architecture is the designer.

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