Developer Buys Land Near Charlotte Transit Station, Apartments on Way
Arlington Properties acquired land at 7220 N. Tryon St. for $9 million. McKinney Holdings was the seller.
The Charlotte Business Journal reports the 3.9-acre property is vacant and located across from the University City Boulevard light-rail station (shown).
The city of Charlotte approved a construction plan for the land last month. The plan calls for a seven-story building with 334 apartments. It also shows two amenity areas and open space. Fifth Dimension Architecture and Interiors is listed as the architect for the project, which is carrying the name Arlington North Tryon Apartments
Arlington has a $66.3 million construction loan for the property from Old National Bank,.
Arlington is a multifamily development, construction and management company. The company manages over 30,000 apartments in more than 100 communities throughout its 15-state footprint. It mostly operates in the Southeast but also has a presence in Colorado and Ohio.
The firm has three other projects in the Charlotte region.
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