Catalyst Capital Partners and Stiles to Develop Luxury Residential Tower at Prime Corner Location in Charlotte's South End
Posted on 11/16/2021Catalyst Capital Partners, a Charlotte-based real estate development and investment firm, recently formed a joint venture with 70-year-old real estate development firm Stiles to develop an ultra-luxury multifamily/mixed-use tower located at the SW corner of Camden Rd. and W. Park Ave. in the fast-growing South End submarket of Charlotte, N.C.
Comprised of 291 units, the 30-story tower will include 9,500 square feet of retail and restaurant space on the ground floor with a highly activated streetscape, and approximately 10,000 square feet of office space that Catalyst will occupy upon completion. The project will feature market-leading indoor and outdoor amenity areas and contemporary, top-of-market unit finishes in a variety of studio, one-, two-, and three-bedroom floor plans. Nashville-based Hastings Architecture is the architect of record and will also handle interior design, and LandDesign is the civil engineer and landscape architect. Construction is targeted to commence in Q3 of 2022.
"We are thrilled to be developing our third apartment community in North Carolina and our first in Charlotte in the heart of South End," said Jeff McDonough, President of Stiles Residential Group. "We are also excited to partner with a talented and experienced group like Catalyst to bring a project of the highest caliber to this incredible location and vibrant submarket. This community will be incredibly well-suited to support the tremendous job growth in the immediate area, and we expect it to set a new standard for luxury living in the Charlotte."
"South End has been our home for several years and we are privileged to be able to contribute to its growing skyline. We always envisioned a landmark high-rise development at this incredible location — what we feel is the best in all of Charlotte," said Catalyst Managing Partner Beau McIntosh. "The Stiles team has been longtime friends of Catalyst and this partnership is very complementary for both firms. We are all quite confident that the Charlotte market is ready to embrace the unique, luxury high-rise lifestyle this tower will offer."
Located directly on the Light Rail's Blue Line between East/West Station and Bland St. Station., the project will be a transit-oriented development that features connectivity with the Rail Trail as well as easy access to Uptown, Charlotte Douglas Airport, and over 200 walkable amenities including retail, restaurants, and nightlife. It will be surrounded by several employment centers and newly delivered office towers, including Stiles' 110 East development, a planned 23-story office tower immediately adjacent to the East/West Station light rail stop.
"Over the next few years, we're going to see the multifamily offerings in South End make the move upmarket with regard to finishes, views and amenities," said Justin Siemens, President of the Carolinas at Stiles. "We believe this move will complement the various commercial endeavors currently shaping South End and we are excited to be a part of it."
Stiles brings decades of successful, award-winning luxury residential projects throughout the Carolinas, Tennessee and Florida. Stiles most recently completed multifamily projects including the 186-unit Carolinian on Glenwood in Raleigh, N.C.; the 286-unit Twelve|Twelve in Nashville, TN; and the 380-unit Alluvion Las Olas, 254-unit Amaray Las Olas, and 341-unit Novo Las Olas projects in Fort Lauderdale, FL. Outside of Florida, Stiles is currently underway with Greenly Pointe, a 15-acre mixed-use development at the entrance of University Research Park off West Mallard Creek Church Road in Charlotte; Grove Ninety-Eight, a 70-acre mixed-use development in Wake Forest planned for 200,000-square feet of commercial, 232 apartments and 400 "for sale" residential units; and Peabody Union, a mixed-use development in Nashville planned for 354 luxury apartment units, 240,000 square feet of office and 50,000 square feet of retail.
The Catalyst Team also has extensive experience in the multifamily space across the Southeast, with over 2,400 residential units recently delivered or currently underway across various apartment, build-to-rent, and mixed-use developments in Charlotte, Durham, Chapel Hill, Asheville, and Nashville, TN.
Established in 1951, Stiles is a full-service real estate development firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. The company is responsible for more than 48 million square feet of office, residential, industrial, retail and mixed-use projects throughout the southeastern United States. Stiles is headquartered in Fort Lauderdale and maintains offices throughout Florida and in Charlotte, North Carolina. Learn more about Stiles at www.stiles.com. Learn more about Stiles at www.stiles.com.
Catalyst Capital Partners is an opportunistic real estate development and investment firm, based in Charlotte, NC. Catalyst's primary objective is to achieve above market returns via various real estate ventures, with a primary focus on ground-up multi-family and mixed-use development across various Southeastern & Sun Belt markets. The principals of Catalyst have completed over $4.0B worth of real estate developments, investments, and transactions across a variety of asset classes including built-to-rent communities, adaptive re-use commercial developments, and garden, mid-rise, high-rise, and affordable multi-family projects. Additional information can be found at http://www.catalystcp.com
Stiles: Adrienne Zalkind, firstname.lastname@example.org, 954-627-9148; Brant Long, email@example.com, 954-627-9102
Catalyst: Beau McIntosh, firstname.lastname@example.org