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CCASC Signs Contract for First Privately Negotiated Project in North Carolina
August 8, 2018
KEYWORDS: CCA South Carolina Luxury Apartment North Carolina Residential
After signing a contract on July 6 with the Langtree Development Group for the construction of Langtree Apartment Complex, CCA South Carolina received the official Notice to Proceed on July 31. The recent loan closing for the development marks CCA South Carolina’s first privately negotiated project since the company’s inception.
The design and negotiation of the Langtree Apartment Complex project can be traced back to December 2014 when CCA South Carolina approached the project from the perspective of a construction manager at risk. The team worked diligently with the developer and architect over the course of the next three plus years to successfully close the deal.
Sitting on the shores of Lake Norman, 15 miles north of Charlotte, the 288-unit luxury apartment development consists of six four-story residential buildings with rooftop decks. The first floors of the buildings are post-tension concrete construction and the top floors are wood frame. The project, which will have a total of 675,000 square feet, also includes a common building with leasing office, gym and gathering space.
The project will start construction on Aug. 21, 2018, and is scheduled to be completed in 24 months.
