In a few months, two New York firms will begin construction on a pair of buildings on Morehead that have a combined 626 apartments. One of the buildings will be 26 stories — by far the tallest property in Dilworth.
Spandrel Development Partners is working with Atalaya Capital Management on the massive mixed-use development at 615 E. Morehead. Spandrel bought the site, just down Morehead from the Dowd Y, in December for $17.8 million, as the Observer first reported.
Why it matters: This project, called Radius Dilworth, will be transformative for Dilworth, an upscale neighborhood filled with stately single-family homes. It’s also the latest in a flurry of new development that’s rapidly changing the area.
- Most notably, about half a mile away, Atrium Health and Wake Forest Baptist Health will begin construction on a new nearly 30-acre med school campus early next year.
- Next to Radius, Bridgewood Properties plans to build 220 senior housing units, per the Observer. And across Euclid, developer Hanover Company is planning another 350 apartments.
What to expect: The Radius development includes two buildings: One will be a 26-story high-rise called the Overlook, the other will be an eight-story mid-rise called the Enclave, Spandrel co-founder Emanuel Neuman tells Axios. All told, construction will take less than three years after it begins early next year.
- The Overlook will have 352 apartments and about 6,000 square feet of ground-floor retail.
- The Enclave will have 274 apartments.
- Also on the property: Two saltwater pools (one in each building), an expansive rooftop deck, a 24-hour fitness center, club room, sky lounges, poolside lounges with grilling stations, a courtyard, co-working spaces, electric vehicle charging stations and bike storage.
“It will have a great live-work-play environment with unbelievable views,” Neuman says.
The apartments will range in size from about 500 square-foot studios to 1,800 square feet for a three bedroom unit. They’ll be market rate (so no affordable housing), but Neuman says some studios will start at “entry-level price points.”
- Charlotte’s rapid population growth drew Spandrel to Charlotte — as it’s done in recent years with countless other out-of-town developers.
- Spandrel had been eyeing the Dilworth site for about two years, Neuman says. He plans to do more in Charlotte in the future.
The Dilworth Community Association has been working with the city and developers to improve the streetscape along Morehead, DCA president Franklin Keathley says. He’s hopeful the Radius project helps further that goal.
“Morehead should be a great street. It connects Bank of America Stadium, a light rail, South End, lots of new housing, a new medical school … all within a mile and a half stretch,” Keathley says.
Here’s a look at what Radius Dilworth will look like. All renderings are courtesy of Spandrel. The architect on the project is BB+M. Land Design is the civil engineer.
Editor’s note: This story has been updated to clarify the height of the tower.