Tri Pointe Homes Purchases 13.26-Acres in Lower South End, Charlotte in Deal Facilitated by Land Advisors Organization
LoSo submarket emerging with attractive infill redevelopment opportunities, responding to state’s growing residential needs.
Charlotte, NC (April 5, 2021) – Land Advisors Organization’s Charlotte team, in conjunction with Avison Young, is pleased to announce the sale of 13.26 acres to Tri Pointe Homes for $5.15M. The parcel, which is located off Orchard Circle in the Lower South End area of Charlotte, is another sign of the significant growth that the market is seeing in the emerging area.
“The sale of this property for townhomes is yet another example of the increasing demand we are seeing for infill residential development in attractive submarkets,” says Forde Britt of Land Advisors Organization. “The LoSo submarket, as with similar infill submarkets like the West End, North End, and Sugar Creek, are prime for developers to find compelling redevelopment opportunities adjacent to amenity rich corridors.”
Tri Pointe Homes is planning to build a new 94-unit townhome community on the site, which will be called Southend at Tryon. The appeal of the area for new residential units includes the site’s close proximity to established retail like Olde Meck Brewery, as well as being within walking distance of the Scaleybark Blue Line light rail stop, which provides access to downtown Charlotte.
“Tri Pointe Homes is excited to be part of the Lower South End Community as we launch our premium brand in the Carolinas,” said Gray Shell, Tri Pointe Homes division president.
“This sale is especially rewarding because it came at a time when LoSo was still defining its identity, but we were able to help our client craft and communicate a unique vision for the site that resonated,” Britt added. “Like Tri Pointe, we anticipate other developers will also see the vision and opportunity in the area, and development will be robust along the entirety of the Blue Line.”
The seller was represented by Forde Britt of Land Advisors Organization’s Charlotte team and Tom Tropeano of Avison Young.
The Charlotte office of Land Advisors Organization opened in May 2018. Since then, the team of advisors have facilitated more than $60M in land transaction services, including over $30M in 2020. The team works closely with landowners, home builders and developers to arrange land sales in highly desirable urban in-fill areas as well as throughout Charlotte’s surrounding suburban submarkets. Because of their in-depth knowledge of the area, including population growth trends and understanding of the challenges associated with development in historic areas, the Charlotte advisory team dedicates time to working through myriad issues on the front end to help expedite deals. They are also known for having insights into properties prior to coming on-market and bringing together parties with shared goals to support positive development in the area, which they call home.
About Land Advisors Organization
Founded in 1987, Land Advisors Organization is the nation’s largest land brokerage firm specializing in providing deep market insights to landowners and purchasers for the most comprehensive and effective evaluation of land in markets across the country. By integrating current local market information with cutting-edge technology and geographically specialized professionals, Land Advisors Organization advises clients in identifying and capitalizing on valuable land opportunities in all economic environments. Land Advisors Organization serves landowners and purchasers from offices in Phoenix, Tucson, Casa Grande and Prescott, Arizona; Irvine, San Francisco, Century City, Pasadena, Roseville and San Diego, California; Orlando, Jacksonville and Tampa Bay, Florida; Boise, Idaho; Las Vegas, Nevada; Albuquerque, New Mexico; Charlotte, North Carolina; Atlanta, Georgia; Austin, Houston and Dallas-Fort Worth, Texas; Salt Lake City, Utah and Seattle, Washington. Stay connected with us on Twitter, Facebook and LinkedIN.
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Media Contact: Patty Johnson, Connections Marketing & Communications
PattyJohnson@Connections-marcom.com or 602.402.2965