Download Offering Materials: Providence Glen Development Site
Capstone Land Sales is pleased to present the Providence Glen Development Site: a ±2.08-acre infill residential land site in Charlotte, North Carolina. The property is comprised of three adjacent parcels situated squarely along Providence Road in the heart of the highly sought-after neighborhoods of Myers Park, Cotswold, and Foxcroft. The Providence Glen Development Site benefits from the proven luxury townhome new construction market, where there is limited supply, and incredible sales velocity on recently delivered projects. Developers are poised to capitalize on the opportunity by constructing a luxury product in a submarket aligned to the area’s most highly rated schools, where average retail sales prices are upwards of $1,000,000. Providence Glen is currently zoned R-3 and will require a rezone to accommodate up to ±25-35 luxury townhome units. A path towards a successful rezone has been paved by current ownership, and once approved, will position developers to enter a market where there is high demand for luxury new construction product.
Investment Highlights
Proven Infill Townhome Demand and Strong Submarket Demographics
Highly Rated School District
Proximity to Class A Retail and Amenities
