Ram, CitiSculpt Acquire Land For NoDa Apartment Development
A JV between Florida-based Ram Realty Services and Charlotte’s CitiSculpt closed on land surrounding a NoDa brewery site, Free Range Brewing, with plans to develop a multifamily project. The buyers paid almost $5M for the site, which was previously owned by a number of entities, including a subsidiary of Legacy Real Estate Advisors. The five-story project will include 250 apartments and renovations to the brewery, the Charlotte Business Journal reports.
The project counts as a TOD, since it will be less than two blocks from the future 25th Street Station on the LYNX Blue Line extension. The property joins several other NoDa-area multifamily projects being developed along the light rail extension, which will be complete late next year. Groundbreaking could be as soon as November, with delivery in early 2018. [CBJ]