Charlotte apartment developer Proffitt Dixon Partners will soon begin construction on two new developments in town.
The developer recently submitted filings with the city of Charlotte for a 3.4-acre site at 3615 Tryclan Drive, at the corner of Tryclan Drive and Dewitt Lane, to build apartments. Stuart Proffitt, managing principal at Proffitt Dixon Partners, said last week the developer plans to break ground on a 343-unit project there this summer.
Proffitt said the firm is excited to anchor the southern end of LoSo Village, a project that's been spearheaded by Charlotte-based Beacon Partners. Recently, an entity affiliated with Gilde, a German brewer, acquired a building from Beacon at 3530 Dewitt Lane. That site is across Tryclan from Proffitt Dixon's planned development.
Also nearby is Beacon's LoSo Station project, which the firm is marketing for office and hotel development. The site includes market-rate apartments by Crescent Communities and planned affordable housing by DreamKey Partners.
Proffitt Dixon is also moving ahead on its first senior-living project, on the west side of Providence Road and north of Lynbridge Road, in the coming weeks, said Wyatt Dixon, managing principal at Proffitt Dixon. The project will include 200 units that will be restricted for residents age 55 and older. The firm paid $11.2 million for the property in early 2020.
Proffitt Dixon is planning additional senior-living development in other parts of Charlotte, including in future phases of Briley, its mixed-use project in Matthews, and the proposed Caroline development in Cornelius.
The developer declined to provide additional details about the upcoming projects, including estimated construction value and renderings.
Proffitt Dixon has remained active in Charlotte through the Covid-19 pandemic, having mostly recently delivered the first phase of Briley, which is currently about 40% leased. It sold its Beverly apartment project, which includes 201 apartments in the Ballantyne area, in late 2020 for $53 million to private equity firm Velocis.
In the works is a second phase of Briley, the Cornelius development and another mixed-use project in Optimist Park, which Dixon said last year could include apartments and 70,000 square feet of commercial space.
Dixon said last week having the 25th Street bridge complete, underway now, is vital for the Optimist Park project, but the developer plans to move forward soon with plans for that site. Proffitt Dixon owns about 4.5 acres there.