What’s behind the ‘tsunami’ of 20,000 apartment units being built in the Charlotte area?

By Gordon Rago, The Charlotte Observer


Last March, construction began on 235 apartments along East 36th Street in Charlotte’s NoDa neighborhood. A few months later, in June, work started on another apartment project just steps away.

By next year, that project will bring 534 apartments. The work is centered around the LYNX Blue Line’s 36 St. light rail station, near the heart of NoDa’s bustling core of residential units and businesses.

The nearly 800 apartments are part of a record wave of apartments that are being built in the Charlotte area today. One developer likened it to a “tsunami” of new apartments coming to the area.

There are nearly 20,000 units under construction, according to CoStar Group, a real estate research firm. That set a record dating back to the year 2000.

Read more at The Charlotte Observer

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