In Charlotte, North Carolina, The Milestone Group has completed construction on the second phase of Courtney Ridge Apartments, delivering 180 new Class A units across seven garden-style apartment buildings. The delivery of the second phase represents a 13-acre expansion of the existing 280-unit Courtney Ridge community that Milestone acquired in 2018.
The second phase offers a mix of one-, two-, and three-bedroom floor plans equipped with unit-to-common area fiber-optic Wi-Fi connectivity. Interiors feature granite countertops in the kitchens and bathrooms, 42-inch cabinets, undermount sinks, tile backsplashes, stainless steel appliances, washer and dryers, vinyl plank flooring, and large balconies. Select units include stand-up showers and 11-foot ceilings.
“This project demonstrates our ability to adapt to changing environments, through building a residential community that is not only attractive but also one that caters to the evolving preferences and needs of tenants. The project began construction one year after the beginning of the COVID-19 pandemic, providing us with a unique opportunity to incorporate features that seek to meet the current and future needs of tenants,” says Michael Sauer, vice president of asset management.
“These features include thoughtful design provisions and amenities that cater to the growing trend of remote work and the need for more space and functionality in homes, especially among young families and individuals. By responding to these emerging trends, we have positioned the residential community for long-term success and appeal to a broad range of tenants. We believe that this project will serve as a blueprint for future developments that prioritize tenant needs and preferences and provide a high-quality living experience.”
Phase II offers residents a variety of shared amenities that complement the existing property’s amenities, including its pool, picnic area with outdoor kitchen, off-leash bark park, Wi-Fi lounge, and newly expanded 3,000-square-foot fitness center. The Phase II clubhouse offers individual workstation consoles, a main conference room with industry-grade conferencing capabilities, a 24/7 package delivery center, a coffee bar, a kitchen area, and a patio overlooking a pond.
“Acquiring Courtney Ridge Phase I along with the adjacent land parcel created a compelling opportunity to leverage our strengths as both value-add investors and developers to bring a desirable residential community to an energetic and vibrant neighborhood in Charlotte,” says Shay Newcomer, asset manager. “By deploying our experience in property development, we were able to create a project that meets the needs and wants of the residents. We believe that our approach has set a new standard for future developments, and we look forward to continuing to innovate and deliver value to our investors and the communities we serve.”
The development and construction of Courtney Ridge Phase II began in February 2021, with Atlanta-based TuckerCraft as general contractor, SGA|NW as project architect, and Design Resource Group as the project engineer. Financing was provided by PNC Bank.