Though the number of building permits dipped last year, there are still plenty of new projects on the horizon and spending on these projects is on the rise. This could mean more luxury projects, and we do have a few of those, but it truly reflects that the costs of construction such as labor and materials have risen in the last few years. Here are some of the projects in the works that we are excited about:
- Trella Uptown – this project by developer Inlivian is slated to be a 353 unit apartment complex at 426 North Tryon. Construction on this $84 million structure will start this summer. Though this is a luxury building, 106 of the units will be offered for people making between $22,600 and $60,300 per year. The rest of the units will be offered at market rate at the time of completion. Trella Uptown will offer community support services such as after-school programs for youth, children’s literacy classes, family counseling, and life coaching. The building is close to a lot of options for employment, cultural and educational venues, and has easy access to public transportation.
- 1801 E. Seventh Street in Elizabeth is in the early stages of becoming a mixed-use project. Chicago developer Centrum Realty & Development is in the early planning stages, but they have already started demolition to decrease vandalism on the vacant structures on the site. It is anticipated that the project will include multi-family units as well as commercial components while keeping in the history and character of the neighborhood.
- 1901 South Boulevard – This project is just over 2 acres at South Boulevard and East Worthington Avenue. Chicago based Centrum Realty & Development are in the planning phase of this project which is expected to be mixed-use with residential and commercial components.
- 3119 South Boulevard – Just down the road Virginia based developer Kettler and Washington, D.C. based developer Akridge have partnered on an 415-unit, seven story building expected to break ground towards the end of this year. The project will total around 400,000 square feet of retail and residential and will feature top-tier amenities including pool, fitness center, and coworking spaces. Once they break ground, expect the project to take around 24 months to complete.
- 120 Matheson Ave – This NoDa project is being developed by Alliance Residential Co. out of Arizona. The project is expected to comprise 32-apartment units on a 3.5 acre parcel. They will be split between one- and two-bedroom units between 663 and 1,058 square feet. Amenities will include a resort-style pool, outdoor kitchen and grilling areas, dog park, private coworking spaces, fitness center and clubroom. There will be two open courtyards as part of the plan. The first units should be ready for residents late in 2024.
These are the projects that have us excited for the future of the Queen City. There are many others in the works and we will be sure to highlight them in the future. There are some that are further out from the center of town that are sure to be a hit.
