MEDIA ROOM

August 1, 2019

Pollack Shores Expands in Charlotte with 350-Unit Development in Lower South End

Newest project will provide direct access to LYNX Blue Line station in thriving neighborhood

CHARLOTTE (August 1, 2019) – Multifamily developer and investment firm Pollack Shores Real Estate Group announced today it closed on the land purchase for a Class A, 350-unit luxury apartment community at 200 East Cama Street in Charlotte’s Lower South End (LoSo) neighborhood. The project marks a continuation of the company’s expansion in the Charlotte market as it is now actively developing 1,000 units throughout the metro area.

Pollack Shores will begin construction in August at the site, which lies just 600 feet from the Scaleybark light rail station on Charlotte’s Lynx Blue Line. Walkability and access to the rail line have triggered the development of new restaurants, retailers, breweries, office buildings and apartment communities in LoSo.

Pollack Shores opened The Penrose on West Tremont Avenue in December 2018. The Penrose is located just two light rail stops from Pollack Shores’ latest project. Its’ success highlights the continued demand for high-quality urban living near the Charlotte light rail.

“Our team focuses on forming communities that connect residents with flourishing neighborhoods inclusive of existing amenities like Cama Street,” said Steven Shores, CEO and President of Pollack Shores. “We believe the Lower South End’s access to public transportation and its growing mix of commercial uses will offer a higher quality of life for our future residents.”

Lowe’s just announced it will build a 23-story tower for a 2,000-employee global tech hub in South End, joining other businesses expanding in the area. The Bowers Development, home of the Southern Tier Brewing Co., Victory Brewing Co. and Six Point Brewery, plans to add more retail, restaurants, offices and a hotel. Southside Drive also features a variety of dining and brewery options in South End, including Broken Spoke, Sugar Creek, Queen Park Social, Olde Mecklenburg Brewery and Red Clay Cider Works.

Pollack Shores’ new apartment community, which is located in the heart of the booming submarket, will offer studio, one, and two-bedroom unit options ranging from 620 to 1,168 square feet. The 280,000-square-foot development will feature a wide range of amenities, including a courtyard, dog park, community library, fitness center and a lounge and business center. The community will open in Fall 2020.

“The Lower South End has emerged as a premium destination in Charlotte full of energy and new projects, such as the Bowers project, and those forthcoming at Scaleybark Station,” said Palmer McArthur, Vice President of Development at Pollack Shores. “This rapidly densifying area offers our residents an opportunity to enjoy an urban lifestyle with walkability to breweries, restaurants and the light rail.”

Rush Dunaway from SVN Percival Partners represented Pollack Shores in the transaction. In addition to the Cama Street development and The Penrose on W Tremont Ave, Pollack Shores recently broke ground on a 350-unit apartment community in Steele Creek near the Berewick Town Center and Charlotte Premium Outlets. The firm’s other Charlotte area properties include 5115 Park Place and The Mason at Six Mile Creek (Indian Land, South Carolina – currently under development).

Pollack Shores, known for acquiring, developing, managing and investing in best-in-class multifamily communities, is currently active in Atlanta, Orlando, Tampa, Jacksonville, South Florida, Raleigh, Charlotte, Charleston, Dallas, Austin, Denver, Nashville and Richmond. The firm is also the parent company of property management firm Matrix Residential, which has nearly 31,000 units under management across eight states.

About Pollack Shores Real Estate Group, LLC

Pollack Shores is an award-winning full service real estate company creating value through multifamily investment opportunities throughout the Sun Belt. Founded in 2006, the Atlanta-based company has acquired and developed more than 22,000 multifamily units since inception and currently owns $1.8 billion in total assets. Pollack Shores also owns and operates Matrix Residential, an innovative property management firm dedicated to creating exceptional experiences for every resident, property and client. Matrix Residential manages a balanced portfolio of nearly 31,000 multifamily units across eight states.

Together, Pollack Shores and Matrix Residential are rooted in their mission of maximizing the value and living experience for every community. For more information about Pollack Shores, visit pollackshores.com/. For more information about Matrix Residential, visit matrixresidential.com/.

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