The Charlotte 500
Seven residential development sites across Charlotte.
In 2023, Red Cedar was tasked to assemble and entitle highly desirable residential land sites in Charlotte to consolidate into a portfolio of rental homes. An homage to Charlotte’s racing history, The Charlotte 500 included single-family, duplex, and townhomes designs, all built from Red Cedar’s plan library and selection of finishes, as well as several sites with amenities.
On the project, Red Cedar entitled 7 development sites in Charlotte, NC to create a portfolio of built-to-rent assets that was eventually capitalized by the Carlyle Group. Red Cedar worked with NewStar Asset Management as project sponsor and Red Cedar also provided a GP investment into the project.
All site work was performed by Red Cedar and transitioned immediately into vertical construction by Red Cedar’s building team.
Project Highlights
- Luxury Rental Townhome Development
- The total investment in the portfolio exceeded $150,000,000
- The entire portfolio was built from Red Cedar’s plan library and selection of finishes
- One of the most unique BTR portfolios in the US, this project is currently under stabilization as new residents move into homes
Project Gallery
