The Exciting New Developments in Charlotte: A Housing Boom on the Horizon
Charlotte is buzzing with activity as the city sees several exciting multi-family apartment projects breaking ground in just the past week. While construction in general may be slowing down, these new developments promise to boost the local housing scene significantly. Let’s take a closer look at three notable projects set to add around 872 apartment units to the Queen City by the end of 2025 or 2026. If you’re curious about the construction happening near you or if you’ve noticed a fenced-off plot of land, feel free to reach out! We’d love to explore your neighborhood together.
Cotswold’s New Gem: The Colwick
Let’s kick things off in the Cotswold neighborhood where The Fallon Company recently celebrated the groundbreaking of The Colwick. This impressive seven-story complex will feature 234 units, offering a mix of one, two, and three-bedroom apartments. It’s positioned perfectly at the corner of Colwick Road and Chiswick Road, right between the Publix on Randolph Road and the Cotswold Elementary School.
“There’s a lot of excitement around something being built at this location,” said Michael Fallon, the CEO of Fallon Company. “The school is adjacent, and you have two grocery stores within about 400 yards. There haven’t been any residential rental apartment buildings like this built in the last 20 years in the Cotswold area.”
Discussions about this project began back in 2018, and it officially kicked off after the Charlotte City Council approved the project’s rezoning petition in 2022. While some residents voiced their concerns regarding potential traffic congestion, the approval was granted after the team collaborated with the community to address these issues. Fallon emphasized, “The community’s concerns around density are absolutely valid, and that’s why we worked with them over the last year.” The project is set for completion by the end of 2026, with units priced at market rates. Residents can look forward to amenities like a co-working lounge, saltwater pool, dog park, and even a golf simulator room.
A New Neighborhood Emerges: NOVEL River District
Next, let’s head over to the west side of Charlotte, where vertical construction has begun on the first residential offering in the exciting new River District, a massive 1,400-acre mixed-use development. NOVEL River District will consist of 318 units spread over seven stories, featuring studios and one- to two-bedroom apartments.
This transformative project began back in 2016 and aims to turn previously wooded land into a vibrant neighborhood equipped with homes, retail spaces, and other commercial options. Crescent Communities, the developer, plans for the River District to include a whopping 5,000 homes, millions of square feet of office space, and half a million square feet of retail. Residents are expected to start moving into NOVEL by early 2026, and that’s not all! The first phase of housing will also bring 2,300 single-family homes to the area.
Family-Friendly Living at Bainbridge Mallard Creek
Finally, we can’t overlook the latest project in north Charlotte—Bainbridge Mallard Creek. This development will feature a five-building complex with 320 units, focusing on one-, two-, and three-bedroom apartments tailored to families and couples looking for extra space. Situated between the Mallard Creek neighborhood and Concord, this location offers great proximity to shopping and workplace options, including the nearby Eli Lilly campus.
According to Zach Spencer, Bainbridge’s senior vice president of development, “The Research Park, University City area, Mallard Creek—all these areas have been blowing up and becoming more popular for investment.” With completion expected by the end of 2025, residents can enjoy amenities such as an outdoor living room, co-working space, private study, and a resort-style pool.
As Charlotte continues to grow, it’s evident that these new apartment projects will play a crucial role in shaping the city’s future. Each development brings unique amenities and thoughtful design, all while paying attention to the needs of the local community. The Queen City is undoubtedly on an exciting housing trajectory!
