CHARLOTTE, NC—Capstone Land Sales has closed the $8.5 million sale of a 38.35-acre multi-family development site in Charlotte’s highly sought-after Indian Land submarket. The site is situated at 680 Fort Mill Highway between downtown Fort Mill and Ballantyne in the northern panhandle of Lancaster County, providing superior access to the south Charlotte metro’s ever-expanding employment centers.

Capstone’s Caleb Troop, Bryse Toothaker, and Brian Ford sold the property on behalf of Zimmer Development Company/McAdams Homes.

“Demand for quality, suburban multi-family development sites around Charlotte remains incredibly strong,” said Troop. “This site checks a lot of boxes, with great proximity to large employers and retailers, quality nearby schools, strong income demographics, and tremendous access to the adjacent Ballantyne and Fort Mill submarkets.”

The buyer, Northwood Ravin, will start construction this year on 217 units comprised of garden apartments, townhomes, and cottage units.