The City of Charlotte just broke ground on our region first ever ‘build-to-rent’ (BTR) communities, a concept that has been gaining traction as home prices continue to climb ever higher.
HARMON Ballantyne and HARMON Five Points are being built and managed by a partnership between Crescent Communities and Pretium, who have now committed to invest at least $1 billion in single-family build-to-rent communities.
“HARMON Ballantyne and HARMON Five Points bring infill housing options to Charlotte providing its residents the opportunity to lease brand new homes in highly sought-after neighborhoods without the long-term commitment and high upfront cost of homeownership,” said Crescent Managing Director Tony Chen.Both communities will offer townhomes ranging from 3 to 4 bedrooms each with private garages, driveways, and balconies. Located at 15825 Marvin Road, 13 miles south of Charlotte’s central business district, HARMON Ballantyne will bring 60 residences to the Ballantyne area, which has experienced noticeable growth in recent years and offers access to a broad range of amenities, including shopping, dining, schools, and recreation opportunities. HARMON Five Points will offer 76 residences located at 360 Seldon Drive in the West End neighborhood. The community will have a direct trail to the playground at Five Points Park and is in proximity to the Irwin Creek Greenway and Gold Line Streetcar for easy access to Uptown.
“Pretium is committed to being a leading part of the solution to address the nationwide housing shortage, and our build-to-rent partnership with Crescent to develop and operate rental communities across the country is part of those efforts,” said Pretium Director Matt Johnston.
HARMON Five Points is expected to offer pre-leasing winter of 2022 and HARMON Ballantyne in fall of 2023.