Exciting New Apartment Complex Breaks Ground in Cotswold, Charlotte
Charlotte is buzzing with excitement! A major new development, The Colwick, is officially underway, and it promises to bring a fresh twist to the multifamily living scene in the heart of Cotswold. This $100 million project, spearheaded by the Boston-based The Fallon Co., has kicked off its construction, much to the delight of future residents and community members.
What To Expect from The Colwick
So, what’s the scoop on this impressive project? Well, The Colwick is set to be a seven-story apartment building featuring an impressive total of 234 units. And there’s something for everyone—whether you’re after a cozy one-bedroom pad, a spacious two-bedroom for you and your friends, or a three-bedroom for the whole family, The Colwick has got you covered! The design has been carefully thought out, with five levels of apartments comfortably resting atop a two-level parking garage.
Top-Notch Amenities Await
Now, let’s talk about the exciting amenities that set The Colwick apart from the rest! Residents can look forward to a luxurious resort-style saltwater pool, a fitness center complete with a private yoga studio, and even a pet spa and dog park—perfect for furry friends! Add to that a stylish coworking lounge equipped with video conferencing rooms, outdoor grills, a pizza oven, secure bike storage, and even a golf simulator, and you’ve got a recipe for an unparalleled living experience.
Why Now is the Perfect Time
Michael Fallon, the CEO of The Fallon Co., has shared that the timing of this project is particularly favorable. With a slowdown in new multifamily starts over recent months, he believes that this project is stepping into the spotlight at just the right moment. “The market was growing so fast for so long, and now with things slowing down, if you can finance today you’re looking at an advantageous time to deliver,” Fallon noted. The Colwick aims to challenge the higher end of the market with its distinctive offerings, making it a true standout.
Community Engagement at its Best
What makes this project even more special is the close-knit collaboration between The Fallon Co. and the local community. Fallon’s team engaged with city officials and residents for about a year, ensuring that their voices were heard throughout the planning process. The main concern was traffic, and Fallon expressed pride in how everyone worked together to tackle those challenges. “We spent about a year talking with the community and solving a lot of the problems, including infrastructure improvements,” he shared. This is what community building is all about!
A Vision Beyond The Colwick
But that’s not all; The Fallon Co. isn’t stopping at The Colwick. They’re also working on another exciting project called Centre South, located in Dilworth. This mixed-use development will stretch over a 16.7-acre property and is set to bring an additional 329 apartments to the area, with 66 of them reserved for residents earning between 65% and 80% of the area median income. Phase one is expected to break ground in 2025, marking another step toward meeting the housing demand in the region.
As Charlotte continues to grow and evolve, developments like The Colwick are pivotal in catering to the diverse needs of its residents. With construction officially begun, the excitement is palpable, and locals can’t wait to see this vision come to life!
