In many markets, Bisnow is known for publishing a Multifamily Monday edition on . . . Mondays. But in Charlotte, for today, we're doing it Tuesday. And we begin with a project which itself calls forth a big shift. The $27M 1225 Church Street project was recently developed by The Boulevard Co, which had been known through most of the past decade for its condo projects. But when for-sale housing went south, so did the attached variety.
Developers and builders alike are now finding safe haven in apartments. It helps that Charlotte's current multifamily occupancy is about 91%, one of the highest in the country. Cox & Schepp Construction Co, which built 1225 Church, has completed about a half dozen apartment complexes in the past six months and has designs on more throughout the Southeast. ?A lot of people are finding they?d rather rent than own,? COO Fred Bolt tells us.