At a glance
- Five percent of the homes will be set aside as affordable housing for households earning up to 80% of the area median income.
- For allocators with multifamily construction or bridge exposure in the Carolinas, the set-aside trims market rents on that share from delivery.
- The project at the corner of Prosperity Church and Benfield Roads is slated to open in May 2028.
J.P. Morgan is providing financing for Village Park, a 372-unit apartment development by Wood Partners and Sarofim Realty Advisors in Charlotte's Highland Creek and Prosperity Church area, Connect CRE reported Oct. 28.
Five percent of the homes will be set aside as affordable housing for households earning up to 80% of the area median income. The loan amount and terms were not disclosed.
For allocators with multifamily construction or bridge exposure in the Carolinas, the set-aside trims market rents on that share from delivery.
The project at the corner of Prosperity Church and Benfield Roads is slated to open in May 2028. The unit mix spans one-, two- and three-bedroom apartments and includes six two-bedroom, two-bathroom carriage-house units. The site sits next to Prosperity Village, a community Wood Partners previously developed, and a Publix grocery store is next door, making Village Park Wood Partners' third community in the Prosperity Church area.
Reported by the Real estate debt desk from Connect CRE. Published . Corrections