Wood Partners broke ground on its 15th NC multifamily project recently, the 266-unit Alta Berewick on 16 acres at 5503 Dixie River Rd in Charlotte. Demand for apartments is still strong, but that doesn't mean properties don't have to compete for tenants, Wood Partners VP for development Ray Smith tells. Besides location, they also compete with high-quality finishes (granite countertops, stainless steel appliances, flooring, exterior finish) and amenities (resort pool, exercise facility, cyber café, billiards).

Designed by Cline Design Associates, Alta Berewick will consist of three three-story buildings, one four-story manor building and seven carriage buildings with garages. Access to shopping is helpful in attracting tenants, too, Ray notes, and the property has that as well: it's directly across the street from the new Charlotte Premium Outlets mall. Alta Berewick will be complete by the end of '16.