Dec 16, 2014, 11:31am EST
Senior Staff Writer- Charlotte Business Journal
Apartment development firm Proffitt Dixon Partners has started construction on Fountains Matthews, a 258-unit apartment complex on 15 acres at the intersection of Matthews Township Parkway and Northeast Parkway.
The project will consist of four three-story buildings, three of which will have elevators. The complex will include a clubhouse, fitness facility, saltwater swimming pool and a 1-acre courtyard that will anchor the property. Eight of the units at the development will be "live-work" units intended for business owners and small professional firms.
Wyatt Dixon, a managing principal with Proffitt Dixon, says the firm borrowed elements from its first Charlotte community, Fountains at Mooresville Town Square, when it designed the Matthews project.
"We're trying to set a new standard for what the suburban renter really wants," he says.
The first units at Fountains Matthews are expected to deliver late next summer, Dixon says, and the community will be complete in early 2016.
Proffitt Dixon purchased the Matthews land from affiliates of Crosland and Faison last month for $2.6 million. Carocon Corp. is the general contractor on Fountains Matthews, and The Housing Studio is the architect.
This is the fourth apartment development in the Charlotte area for Proffitt Dixon, which is headed by Dixon and Stuart Proffitt. The firm is currently building Fountains Uptown, a 230-unit complex at the southeast corner of Stonewall and McDowell streets that is expected to deliver this summer. The firm previously built and sold its Mooresville project and Fountains Southend, a 208-unit complex that Trade Street Residential purchased last year for $34 million
Will Boye covers commercial real estate and law firms for the Charlotte Business Journal.
http://www.bizjournals.com/charlotte/blog/real_estate/2014/12/proffitt-dixon-partners-starts-work-on-258-unit.html