CHARLOTTE, N.C.–The Greater Charlotte Apartment Association says nine new complexes are on track to open within the next 18 months in Charlotte’s South End. This is one of the hottest areas of the Queen City, because of the amount of one bedroom units about to be available at a time when more people are living alone than ever before. “Some of the basic demographic underlying factors are at play here,” said Ken Szymanski, Executive Director of The Greater Charlotte Apartment Association.
New Census Data says Charlotte is one of the top 10 cities across the country that young adults, millennials aged 25 to 34, are moving to. Research shows millennials prefer proximity to public transit, walkable neighborhoods, and renting instead of buying. As a result, a building boom is underway.
The South End is preparing for the arrival of a new Publix grocery store and the first Charlotte location of the award winning Asheville restaurant, Tupelo Honey Cafe.
“I think we were certainly aware of the upsurge in activity and growth and energy in South End, so that was very appealing to us,” said Elizabeth Sims of Tupelo Honey Cafe.
The restaurant Nan and Byron’s opened earlier this month. And Oak Room, a night club in South End, is already expanding after just seven months to accommodate all of the added interest from party-goers.
“South End is growing. It’s getting so big that you know you don’t want to disappoint anybody,” said James Nguyen of Oak Room.
A free month of rent and other deals could be a reality by the middle of next year if all of this new construction leads to an over supply of apartments.