M id A tlantic Real Estate Journal — Owners, Developers & Managers — November 19 - December 23, 2021 — 15C
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O wners , D evelopers & M anagers
C Davis, Coyne and Luburgh serve on transaction team Greysteel arranges the sale of 51-unit multifamily building
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HARLOTTE, NC — Greysteel , a national commercial real estate investment services firm, has arranged the sale of Chatham II Apartments; a 51-unit multi - family building located at 5804- 5826 Cedars East Court Char- lotte, NC 28212 for $6,375,000. The sale set a new record price per unit for 1970s vintage Mul - tifamily in East Charlotte. Chatham II Apartments, built in 1970, is located along one of the busiest driving corridors in Charlotte (Inde- pendence Boulevard/US-74), within less than half a mile of newly developed retail and multifamily on Monroe Rd. and the planned Silver Line light BALTIMORE, MD — En- terprise Community De- velopment (Enterprise) was one of a select number of de- velopers to be awarded grants from the U.S. Department of Housing and Urban Devel- opment (HUD) to support its development of new affordable multi-family rental housing in the country. Enterprise is one of only three organizations to receive multiple awards in 2021. Of the $143 million in grants awarded to non-profit orga-
Chatham II Apartments
rail station at Conference Dr. The property is also within 1.5 miles of notable major future development sites including Eastland Mall redevelopment and the Gold-Line street-car extension. The transaction teamwas led by Greysteel senior associate Hayden Davis and supported nizations across the country, Enterprise received awards totaling $9.1 million for three projects in Baltimore and Washington, D.C – six percent of the overall awards amount. Those projects - Edgewood Commons in Washington, D.C., and Greens at Irvington Mews and Park Heights Place in Baltimore - were the only awarded projects in the Mid- Atlantic region and account for 13% of the total units awarded nationally. The awards were made un -
by associates PJ Coyne and Colton Luburgh of the firm’s Charlotte, N.C. office. “Greysteel offers its con- gratulations to both the buyer and to the seller of Chatham II Apartments; the seller man- aged and cared for the property for fifteen years of ownership,” said Davis. MAREJ der HUD’s Section 202 Sup - portive Housing for the Elderly program and will help fund the construction and operation of new, rent-assisted units for low- and very low-income se- niors who will pay rent based on their income. For each of its projects that were awarded grants, Enter- prise Community Develop- ment partnered with other divisions of Enterprise Com- munity Partners to ensure that the vision for each project fol- lowed a cohesive vision. MAREJ
Enterprise Community Development awarded over $9M from HUD for new multifamily housing in Mid-Atlantic
for more information contact: P: 781-740-2900 lea@marejournal.com
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