Construction to begin on Mooresville Town Square apartments

Construction to begin on Mooresville Town Square apartments

Construction to begin on Mooresville Town Square apartments

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by News Release

News Release

Posted on April 25, 2011 at 10:37 AM

Updated Thursday, Dec 5 at 5:40 PM

CHARLOTTE, N.C. -- Construction is scheduled to begin next month on Fountains at Mooresville Town Square, a 227-unit, $23 million luxury apartment community developed by Charlotte-based Hawkins-Dixon, Ltd.

The new community, located just north of Charlotte in Mooresville, is the residential component of Mooresville Town Square, a recently-opened mixed-use center featuring a new Lowes Foods, numerous restaurants and businesses, the Bella Lago Spa, and the Goddard School, a five-star preschool.

The walkable town square area features a central greenway with sitting areas and easy access to its many stores and businesses. Located at the intersection of Williamson and Brawley School roads just off I-77, the community is close to major employers, The Shops at Morrison Plantation and Lake Norman itself.

"I don't think we could find a better location in the Lake Norman area or in northern Mecklenburg County," said Hawkins-Dixon principal Wyatt Dixon. "My partners and I have been focused on this project for quite some time and we’re happy to see it move forward."
 
This is the third apartment community Dixon has developed in the Lake Norman area; he was involved in the development of two nearby projects during his tenure with Summit Properties and later with Faison and Associates.

Dixon says developing "Class A" residential components within mixed-use communities will be an integral part of the company’s long-term focus. "Well-located lifestyle centers such as Mooresville Town Square offer a good opportunity for us to develop quality apartment communities," he said. "Residents look for the convenience this type of development brings -- the ability to walk to restaurants, bars, entertainment, and even the grocery store next door."

The apartment community will feature six buildings -- one of which will have elevators -- on eight acres. The community will offer one-, two- and three-bedroom apartment homes with garden tubs, French doors leading to private patios and balconies, built-in microwaves, ceilings fans and more. Some apartments will have 11 to 13 foot ceilings, kitchen islands, linen closets and computer work stations. The grounds will feature a saltwater swimming pool, multi-level patio, grilling area, fire pit and courtyard.

The 5,000 square foot clubhouse will feature views of the signature fountain and community green in the town square. The club facility will feature a gourmet demonstration kitchen and private dining room overlooking the pool, as well as a clubroom, screening room, billiards and entertaining area, business center, and fitness center with cardio and weight stations. WiFi will be provided throughout the club area, and high-speed Internet service will be available in the apartments. Rents are expected to start at $695.

Dixon, a veteran of the multifamily real estate industry, has developed almost 3,000 apartment units in North Carolina and Florida valued at roughly a half-billion dollars. During his lengthy career, Dixon has served in leadership positions in development and acquisitions with Lane Company, Faison Enterprises, Summit Properties and its successor, Camden Property Trust. 

Red Mortgage Capital’s Charlotte office secured debt financing for Fountains at Mooresville Town Square through the FHA’s 221(d)(4) market-rate apartment financing program. Red Mortgage Capital is the mortgage banking arm of comprehensive capital provider, RED CAPITAL GROUP, which provides debt and equity capital to the multifamily, student and seniors housing, and health care industries.

The architect for the project is The Housing Studio; Design Resource Group is the land planner, engineer and landscape architect. Samet Corporation is the general contractor. Jones Lang LaSalle will handle construction management. Greystar will manage the completed property. 

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