CHARLOTTE.– Alliance Residential has closed on the acquisition of 25.5 acres at the intersection of I-485 and Albemarle Road for the development of Broadstone Lemmond Farm.
Designed by Cline Design and Associates, the luxury multifamily development is scheduled to begin construction later this year and open for residents in 2020.
Alliance Residential is the exclusive multifamily developer of Broadstone Lemmond Farm, which will feature 336 luxury apartments.
Located near the recently opened Novant Health Mint Hill Medical Center, Lemmond Farm will include 50,000 square feet of retail and office space. The Helms family and Stanchion Asset Partners are developing the master planned community.
One, two and three-bedroom units, averaging 924 square feet, will draw design elements from the history of the property as a cattle and horse farm.
Donald Santos, Carolinas managing director for Alliance Residential, said the surrounding area is becoming a popular destination, presenting an opportunity for housing options that provide the luxuries of home ownership for the leasing market.
“Residents are choosing to rent for longer periods of time rather than purchase,” Santos said. “Therefore, they desire a development with a strong sense of community combined with unique amenities and lifestyle conveniences that is accessible to the areas where they work and play.”