CHARLOTTE, NC—Capstone has brokered the $5.8 million sale of a 41.64-acre multi-family development site along the banks of the Catawba River in the rapidly growing Charlotte suburb of Rock Hill, South Carolina. The project, dubbed Marvell Rock Hill, will bring 246 apartments and 72 single-family homes—all for rent—to Rock Hill over two phases.
Capstone’s Caleb Troop and Ron Corrao sold the property on behalf of Charlotte-based Fiorenza Properties. The buyer is Wilmington-based Zimmer Development Company (ZDC), a national commercial and multi-family development company.
“We are excited to bring a product to the town of Rock Hill that is both innovative and invigorating, while integrating the active outdoor lifestyle of the surrounding amenities into the Marvell community,” said Emily Zimmer Moree of ZDC.
ZDC will begin construction early next year and is expected to deliver the first phase of Marvell Community in late 2023.
“Investment in Rock Hill continues to draw interest from the rental housing sector thanks to robust infrastructure and jobs announcements up and down I-77 throughout York County,” Troop said. “With a picturesque backdrop along the Catawba River paired with all of the amenity needs at Exit 82, it’s easy to see why ZDC is bullish about the project.”
This development will be Zimmer Development Company’s second project in York County, South Carolina. In 2018, ZDC delivered a 260-unit garden-style asset called Evolve at Tega Cay in nearby Fort Mill.
Situated on Riverchase Blvd off Exit 82 of I-77, the site is less than two miles from The Carolina Panther’s new headquarters and four miles from more than 20 industrial warehouses and factories that serve as major employers in the area. Additionally, the exit is chock full of amenities including a newly built Lidl and a variety of charming restaurants and attractions in Rock Hill’s popular Riverwalk district.
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