Category: News

by Ashley Fahey

Multiple phases of the Pappas Properties project would create a new, 33,000-square-foot Charlotte Regional Realtor Association office in addition to residential, ground-floor retail and another 168,000-square-foot office building.

by Ashley Fahey

A 58-unit townhouse project by Pulte Homes is under consideration for a Pappas Properties-owned site along Tryclan Drive, South Boulevard and Clanton Road.

by Jennifer Thomas

Oak Steakhouse expects to open its doors in mid-March. The 5,200-square-foot restaurant is in SouthPark’s Sharon Square.

by Ely Portillo

Pappas Properties said Friday that a 135-room hotel is planned for Berewick Town Center in Steele Creek.

The hotel will be a Hampton Inn & Suites. Steele Creek Partnership LLC, a company affiliated with Nalinbhai Patel of Huntersville, paid $1 million for a 2.4-acre site in a deal that closed Thursday.

In a separate deal, Carolina Restaurant Group said it plans to open a Wendy’s restaurant on a 1-acre parcel at Berewick Town Center.

The town center, located at Shopton Road West and Steele Creek Road, is under construction in two phases. A Harris Teeter broke ground in late 2014 and is expected to open this spring. It’s part of the 1,200-acre Berewick subdivision.

“The new Hampton Inn & Suites, Wendy’s, Walgreens and Harris Teeter are part of a very exciting story developing at the Berewick Town Center,” said Peter Pappas, CEO and founder of Pappas Properties, in a statement. Pappas is developing Berewick. “Each of these will be a great amenity enjoyed by residents of Berewick, neighbors and the many people coming to this area.”

roker William Latta represented Steele Creek Limited Partnership in acquiring the hotel site. Bob Vande Weghe of Evergreen Commercial Properties represented Carolina Restaurant Group in the Wendy’s site transaction. On the sales side, Brian Roth of Pappas Properties marketed both properties.

by Kathleen Purvis

Laura Maniec, the master sommelier and smart brain behind Corkbuzz, the wine-focused restaurant with locations in New York and Charlotte, is adding something new to the market: The Cellar @ Corkbuzz.

Located in the space right next to Corkbuzz, in Sharon Square in SouthPark (right behind the Whole Foods on Fairview), the new space will be a wine retail store and wine bar with a small-plates menu. Maniec plans to open early next week.

Calling it “a little jewel box of a space,” Maniec gave us a look at the new space Wednesday: The chandelier and library ladder to slide around the shelves of wine are still coming, but the new tasting bar already has a cool cork front and the wine-cask tabletops are ready to go. At 850 square feet, it’s a third of the size of the 2400-square-foot restaurant, but will allow enough room to add more classes and tasting experiences.

Inspired by some of her favorite small wine bars in Paris, The Cellar @ Corkbuzz is designed to be a place where you can grab a glass of wine and sit with a plate of black pepper biscuits with prosciutto and beer mustard or Spanish-style tomato bread with white anchovies, or where you can grab a bottle of wine you’ve never tried before and take it home with you.

Having the small space next door also will allow Maniec to offer more private event space to go along with the small private dining room in the restaurant. The two spaces are already connected by a door in the dining room, and they’ll share the kitchen space and the patio out front.

Along with the new space, Maniec is starting a unique “wine profile” program: You’ll schedule a tasting with a wine expert taking you through different types of wine to help you figure out what kind of wine you like. Instead of being focused on particular wines, it will give you a set of descriptions you can use when you go into a wine store or restaurant to figure out what to order.

by Thunder Bird LA

Physicians at the medical spa will provide non-surgical cosmetic treatments like body contouring, laser liposuction, cellulite reduction, skin tightening, …

by Jennifer Thomas

Oak Steakhouse opens for dinner service next Wednesday. It is The Indigo Road’s second Charlotte venture, following O-Ku in South End’s Atherton Mill.

by Laura Calugar

The developer is building a community in Chapel Hill, N.C., with leasing expected to begin next summer. Alta Blu will include 5,000 square feet of office space.

Real estate developer Wood Partners broke ground on a 298-unit apartment community in Chapel Hill, N.C. Alta Blu is expected to begin leasing during summer 2018.

Located between the University of North Carolina, Duke and Research Triangle Park, Alta Blu will provide easy access to Interstate 40, the interstate connecting major business corridors. The asset will be in close proximity to the multitude of employers in the area. 

“Residents will get to experience all that Chapel Hill and Durham have to offer while enjoying state-of-the-art amenities, open space and a sense of community  with commuter convenience,” said Wood Partners Director Caitlin Shelby, in a prepared statement. 

Alta Blu will feature a courtyard with a resort-style pool, an activity lawn for community events such as outdoor yoga and film nights as well as a large pond. Additionally, 5,000 square feet of office space will be included in the project.

According to Yardi Matrix data, Wood Partners owns four other assets in North Carolina, including the Alta Prosperity Village and the Alta Berewick, which are under construction and the 2104 North Brevard, which is in a prospective stage of development. All properties are located in Charlotte and feature 838 units combined. The company also owns the Steele Creek Seniors, a fully affordable, age-restricted, 120-unit asset in Southwest Charlotte.   

by Ely Portillo

If you spend most of your time in uptown or the surrounding neighborhoods, it’s easy to miss the boom that’s happening further south in Steele Creek.

But off Steele Creek Road, in the Berewick master-planned community, excavators are pushing piles of red dirt and buyers are snapping up new houses as fast as construction workers can build them. Retail and other commercial buildings are following, filling in what had been blank spots. Nearby, the 28273 zip code is one of the hottest in the nation for home sales, emphasizing that while in-town developments attract more attention, the death of the suburbs has been greatly exaggerated.

“It’s mushrooming quickly,” said Brian Roth, vice president of marketing at Pappas Properties, Berewick’s developer, on a recent tour of the site. Although the current boom feels frenzied, Pappas has been working on the site since 1999, and the first residents moved in more than a decade ago to those houses in the mid-2000s.

The commercial and multifamily development is newer. In addition to the houses and townhouses, Solis Berewick, a 275-unit apartment development, is now open, and just moved in its first residents. A 125-room Hampton Inn & Suites is planning to open next summer, and a Courtyard by Marriott is in rezoning. New restaurants, including Mod Pizza, McAlister’s Deli, an Italian concept called Enrico’s and Fuzzy’s Taco Shop are coming to the town center. An age-restricted project for residents 55 and older is also under contract, Roth said, and more apartments are planned.

Berewick, with five national homebuilders at work, is set to see its 2,000th home sale later this summer. The community will likely sell 500 houses this year, and is closing in on its full build-out, which will total about 3,000 houses, townhouses and apartments. Roth said they expect to hit that mark by the end of 2018.

The average sales price: $297,000, with one home pushing past the $400,000 mark.

by Ely Portillo

Pappas Properties has bought part of the Charlotte Regional Realtor Association property on Kenilworth Avenue and plans to start a new, mixed-use development soon.

Property records show an LLC affiliated with Pappas Properties has spent about $4.1 million on property around Kenilworth Avenue and Greenwood Cliff. The first phase of the planned project will involved 3.8 out of the total 5.2 acres, and will include extending Pearl Park Way and the construction of a new building for the Realtor association and the Mingle School of Real Estate.

A timeline for construction was not immediately available.

The final goal is a “high-density, mixed-use development in Midtown,” the Realtor association’s officials said in a statement. Plans from Pappas would include almost 200 apartments, 168,000 square feet of new office space, a hotel with up to 150 rooms, shops, restaurants and changes to adjacent Pearl Street Park.

“We look forward to working with Pappas Properties and Little Diversified Architectural Consulting and our general contractor Myers Chapman to transform this site to better serve our members and students as well as benefit the community,” said Realtor association CEO Anne Marie DeCatsye, in a statement. Roger Cobb and Grey Poole of Selwyn Property Group represented the group, and will continue to provide consulting services.