The Charlotte Business Journal's Ashley Fahey reports on Lennar's $17.9 million acquisition of a 5.2-acre site that was previously home to a Pepsi Bottling plant in Charlotte, N.C.

The company plans to develop a 432-unit mixed-use apartment community there that would include 26,000 square feet of retail space. The former plant, which had been in operation since 1938, will now make way for a six-story, transit-oriented community:

The property will include five pedestrian-oriented, ground-floor retail spaces and direct access to the Rail Trail. A public walkway adjoining the Rail Trail to South Boulevard and a pedestrian crossing from South Boulevard to the Harris Teeter supermarket under construction across from the site will be added.

“Lennar Multifamily is bringing an institutional-quality development to the heart of the South End to continue the area’s incredible transformation into a residential and retail destination,” [Justin] Good [managing director at Holliday Fenoglio Fowler] said in a statement. “Designed to maximize connectivity with New Bern Station and the Rail Trail, the development will offer significant street-level retail and unmatched access to all that nearby Uptown has to offer.”

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