Meets increasing rental demand with high-end units for millennials, boomers
CHARLOTTE, N.C., Oct. 01, 2019 (GLOBE NEWSWIRE) -- High Real Estate Group LLC held a groundbreaking for a new luxury, four-story apartment complex in the Charlotte suburb of Mallard Pointe. Located on an 11.76-acre tract at 11030 David Taylor Drive, Mallard Pointe will offer 260 one-, two-, and three-bedroom units with upscale finishes in three elevatored buildings. The apartments will be available for lease in fall 2020.
“The community at Mallard Pointe will provide the luxury lifestyle that is in demand among millennials and baby boomers,” said Brad Mowbray, senior vice president & managing director - residential division, High Associates Ltd. “This is an outstanding project that addresses the high end of the Charlotte rental market.”
Mallard Pointe comprises 270,690 square feet and is located within a short walk of the Cochrane Commons shopping center, which is anchored by a Harris Teeter grocery store. The site abuts University Research Park, is proximate to I-485 and I-85, and is a 30-minute drive from downtown. The major attractions of Reedy Creek Nature Center & Nature Preserve, Sea Life Center-Charlotte and Charlotte Motor Speedway are nearby, as are Mallard Creek High School and several large employers including the University of North Carolina. Residents will have a short drive to five golf courses and the retail shopping corridors on I-85 and I-77.
The apartments will feature high-end interior appointments including quartz countertops and Slate GE® ENERGYSTAR® appliances, under-cabinet lighting, and shower stalls in select units. Mallard Pointe amenities will include a pool with outdoor kitchen and fire pit, fitness center and yoga studio, bike storage and repair facilities, pet-friendly amenities such as a dog park and pet spa, resident storage, nearby walking trails, and recreational open space.
“Apartments are an important part of our growth strategy,” said Mark Fitzgerald, president and COO of High Real Estate Group LLC. “While we develop and acquire residential properties across multiple rental price points and geographies, this product is proven to meet the needs of growing markets like Charlotte.” Fitzgerald said that industry groups National Multifamily Housing Council and National Apartment Association have reported the need for 4.5 million new apartment units in the U.S.
High Associates is an affiliate of High Real Estate Group, which owns and operates more than 2,500 residential units. High Real Estate Group also owns and operates the adjacent Mallard Pointe office building, totaling 100,000 square feet with suites ranging in size from 1500 square feet to 25,000 square feet, and nearby Prosperity Place business center, featuring three office buildings totaling 215,000 square feet with suites from 1,000 to 40,000 square feet.
The Mallard Pointe residential community was designed by Housing Studio of Charlotte, N.C. and will be constructed by CBG Building Company based in Arlington, Va. The property will be managed by High Associates Ltd., an award-winning property management company that is an affiliate of High Real Estate Group LLC.
About High Real Estate Group LLC - Residential
Based in Lancaster, Pa., High Real Estate Group LLC, part of the High companies, develops, acquires, owns and operates more than 2,500 quality, market-rate residential units. Managed by affiliate High Associates Ltd., the apartment communities include Barrcrest Manor, Bentley Ridge, Greenfield Estates, Greenview Terrace, The Crossings at Conestoga Creek, The Reserve at Greenfield, The Summit at Mill Creek, and Village Green in Lancaster, Pa.; and, Orchard Ridge in Pottstown, Pa. High also operates Eastwood Village, a manufactured home community in Lancaster, Pa. High’s portfolio consistently averages more than 95 percent occupancy and outperforms the market in tenant turnover rates. More information is available at www.highrealestategroup.com or 1-800-638-4414.
Image 1 – Mallard Pointe Groundbreaking Ceremony
Caption: High companies and High Real Estate Group LLC executives join government and bank officials to break ground on Mallard Pointe Apartments, a new luxury-lifestyle community in Charlotte, N.C.
Pictured left to right:
Mike Shirk, CEO, High companies; Mark Fitzgerald, president & COO, High Real Estate Group LLC; Brad Mowbray, senior vice president & managing director - residential division, High Associates Ltd.; Greg Phipps, councilman, City Council District Four; Andrew Basile, director of acquisitions and development, High Associates Ltd.; and James Oswald, senior vice president/commercial real estate manager, BB&T.
Image 2 - Mallard Pointe Apartments Elevation
Caption: Mallard Pointe, a 260-unit luxury apartment community by High Real Estate Group LLC, will open in 2020 at 11030 David Taylor Drive in Charlotte, N.C.