By Katrina Louis
September 17, 2020
A new partnership is bringing mixed-income housing to uptown Charlotte. Laurel Street and Little Rock Community Development Corporation announced Thursday that “a sustainable and inclusive apartment community” is coming to the corner of East Seventh and North Alexander streets in First Ward.
Construction is slated to begin on the U-shaped development in early 2021 and move-in ready for residents the following year. Fifty of the 105 apartment units in the five-story building will be income-restricted with the remaining 55 available at market rate.
The adjacent Little Rock A.M.E. Zion Church, which formed the development corporation as a nonprofit in 2006, will contribute land and enter a shared parking arrangement to reduce the amount of new parking to be built. The City of Charlotte will also donate vacant land rehabilitated through the North Carolina Brownfields Program.
Dionne Nelson, president and CEO of Laurel Street, said buying land in a location like uptown would usually be cost-prohibitive. The Charlotte-based residential development company specializes in communities for working families and seniors. Its portfolio includes eight properties across Charlotte.