Proffitt Dixon Partners to Break Ground on Apartment Community in Greenville

GREENVILLE, S.C., May 22, 2015 — Proffitt Dixon Partners plans to break ground this month on Fountains Greenville, a 201-unit luxury apartment community in Greenville. The new five-story community will be located on a 2.5-acre site at 210 E. Broad St., within walking distance of Greenville’s central business district and the Swamp Rabbit Trail. Upon completion in the fall of 2016, the property will feature a clubhouse, courtyards, pool and a fitness center. The design team includes architect The Housing Studio and general contractor Creative Builders Group. Fountains Greenville is Proffitt Dixon’s first development in South Carolina. - See more at:

http://rebusinessonline.com/proffitt-dixon-partners-to-break-ground-on-apartment-community-in-greenville/#sthash.cKwl1Zts.dpuf

March groundbreaking eyed for Germantown apartment building

Published January 30, 2015 by William Williams

Charlotte, N.C.-based apartment developer Proffitt Dixon Partners is targeting a March groundbreaking for its Fountains at Germantown project after having closed on the purchase of the site yesterday.

Proffitt Dixon paid $4.5 million for the 2.4-acre property, which is located at 1407 Third Ave. N. in Germantown.  R.D. Herbert & Sons Roofing and Sheet Metal Co. was the seller.

The apartment building will offer 249 units and sit on an site adjacent to the soon-to-open Butchertown Hall restaurant and bar. Its exterior will feature brick, glass and fiber cement siding. The Fountains at Germantown is a working name, according to Stuart Proffitt, the company’s managing principal.

The project would be the first in Nashville for Proffitt Dixon Partners.

“We’re excited about the momentum being seen in Germantown,” Proffitt said. “We are also hoping to create a mutually beneficial relationship with Butchertown Hall, which we think will be incredibly successful.”

The architect is Nashville-based Smith Gee Studio. Civil Site Design Group is handling civil engineering and landscape architecture work.

https://www.nashvillepost.com/news/2015/1/30/march_groundbreaking_eyed_for_germantown_apartment_building

MHN: Ground Broken on Proffitt Dixon Partners’ Fountains Matthews

Dec. 22, 2014

By Jeffrey Steele, Contributing Writer

Charlotte, N.C.—Multifamily real estate development and investment firm Proffitt Dixon Partners has begun construction on a 258-unit luxury rental property called Fountains Matthews. The $30 million apartment community will be located on 15 acres at Matthews Township Pkwy. and Northeast Pkwy. in Matthews, N.C. Full completion is expected in 2016, with first move-ins occurring in summer, 2015.

The community will feature four three-story buildings, each including elevators. One-, two- and three-bedroom apartments will showcase granite countertops, stainless steel appliances, built-in microwave ovens, French doors leading to private patios and balconies, ceiling fans and more.

Kitchen islands, linen closets, computer work stations and 10- to 12-foot ceilings will be provided in some apartment homes.

Included within Fountains Matthews will be eight live-work units designed to accommodate the needs of small professional firms and business owners. The amenity package will include a 7,000-square-foot club and fitness facility within a distinctive in-community urban streetscape. The clubhouse will offer Wi-Fi, a gourmet entertainment kitchen and lounge area with a fireplace and billiards.

The fitness center will feature an array of state-of-the-art equipment including cardio and weight stations, and will also offer a separate yoga and crossfit room.

A one-acre courtyard and signature fountains will anchor the grounds, which will also offer a saltwater swimming pool, sun deck, outdoor kitchen and grilling area, fire pit and courtyard.

“We are very excited to become a part of such a great community,” says Wyatt Dixon, managing principal of Proffitt Dixon. “Early in our rezoning and entitlement process, it became clear that the town of Matthews had high expectations for quality design and execution. Our team worked diligently to exceed these expectations, and we have ended up with a terrific plan that both the town and our team can be proud of.”

Fountains Matthews is to be the town of Matthews’ first Green Certified multifamily community. “We designed Fountains Matthews to achieve the National Association of Home Builders’ Green Certification, which promotes energy efficiency and water conservation for residents and active recycling during our construction process,” says Stuart Proffitt, also managing principal.

Serving as inspiration for Fountains Matthews’ design and concept was the market popularity and success of Fountains at Mooresville Town Square. That Proffitt Dixon community was sold by the firm in 2013.

Fountains Matthews is Proffitt Dixon Partners’ fourth development in the Charlotte area. The general contractor is Carocon Corporation, while he architect is The Housing Studio, both Charlotte based. JLL’s development services team is serving as the construction manager on the development.

Tags: Fountains Matthews, luxury, New Development, Proffitt Dixon Partners

http://www.multihousingnews.com/news/ground-broken-on-proffitt-dixon-partners-fountains-matthews/1004112620.html

Germantown neighborhood to get 220 more apartments

February 6, 2014

Germantown neighborhood to get 220 more apartments

Germantown to get220 more units off Third Avenue North

By Getahn Ward
| gward@tennessean.com

Preliminary design work is underway for an apartment community with roughly 220 units — the latest in a string of multifamily projects headed for the fast-growing Germantown neighborhood.

Charlotte, N.C.-based Proffitt Dixon Partners has about 2.4 acres off Third Avenue North between Taylor and Van Buren streets under contract for its first Nashville project.

“Nashville has been a target market for us for a long time, and we love the character of the Germantown neighborhood,” said Stuart Proffitt, one of the managing principals in Proffitt Dixon. “It fits perfectly with the high-quality communities we develop.”

Roofing and sheet metal company RD Herbert & Sons Co. currently owns and operates from the property where the apartments are planned. Within a month, Proffitt Dixon plans to file a request with Metro officials to change the zoning from industrial to residential use.

With the required approvals, Proffitt hopes to start construction by the first quarter of next year with completion expected 18 months later. He said it was too early to provide an estimated cost for the development or rental rates for the apartment units. R. Hunter Gee of Nashville-based Smith Gee Studio is the architect.

Proffitt Dixon is interested in other opportunities to develop apartments in the Nashville area, Proffitt said. Since 2008, the firm has invested in or developed 1,200 apartment residences overall.

Strong activity

The new apartments would continue strong development activity in Nashville’s multifamily sector. At year-end, 4,581 units were under construction, almost double the 10-year average of 2,626 units, according to Colliers International.

Developers are being drawn by Nashville’s healthy economy, growing population and strong market fundamentals, including a 96 percent occupancy rate — the highest level since the third quarter of 2007 — and average monthly rent of $901 at year-end.

A number of apartment developments are going up or planned around Germantown, including the 290-unit project that San Antonio-based Embrey Partners plans as part of development near thehttp://www.tennessean.com/section/PROJECTS78" ballpark for the Nashville Sounds to be built at Sulphur Dell.

“The whole Capitol District is extraordinarily active,” said Grant Hammond, a condo broker with development projects around Germantown. “My suspicion is that you’ll have as least two more large multifamily announcements over the next six months.”

http://archive.tennessean.com/article/20140206/BUSINESS02/302060048/Germantown-neighborhood-get-220-more-apartments

Proffitt Dixon starts upscale apartments in Matthews

By Ely Portillo
elyportillo@charlotteobserver.com

Posted: Thursday, Dec. 18, 2014

Charlotte-based Proffitt Dixon has started construction on an upscale, 258-unit apartment complex in Matthews, the company said Thursday.

The Fountains Matthews complex is located at the the intersection of Matthews Township Parkway and Northeast Parkway. The $30 million development is expected to be ready for its first residents to move in by late summer, with construction completed in early 2016.

“We are very excited to become a part of such a great community,” said managing principal Wyatt Dixon, in a statement.

The development will include four three-story buildings with elevators, as well as a 7,000 square-foot club and fitness facility, yoga and Crossfit rooms, a one-acre courtyard, fountains, outdoor kitchens and grills, fire pit and saltwater pool. The apartments will be one-, two- and three-bedroom units.

Proffitt Dixon built its first Fountains apartment development in Mooresville. The company is currently building a complex called the Fountains Uptown at Stonewall and McDowell streets in Charlotte, slated to open next year.

On the Matthews project, Carocon Corporation is general contractor, The Housing Studio is the architect and JLL’s development services team is serving as construction manager.

Portillo: 704-358-5041; Twitter: @ESPortillo

Read more here: http://www.charlotteobserver.com/2014/12/18/5393111/proffitt-dixon-starts-upscale.html#.VKaz_3vCc4Q#storylink=cpy

Proffitt Dixon Partners starts work on 258-unit apartment complex in Matthews

Dec 16, 2014, 11:31am EST

Will Boye

Senior Staff Writer- Charlotte Business Journal

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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