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Welcome back to our weekly look at Charlotte real estate and development news. Charlotte Commercial Real Estate Whispers is the best way to get the latest dirt on transactions, rezonings and projects happening across the Queen City.
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In today’s edition:
An analysis of how much apartment starts have dropped in the Charlotte metro and what’s driving the trend
The leadership switch at Crescent Communities
Averitt confirms its expansion plans in southwest Charlotte
A quick look at how the short-term rental market is playing out locally
Panorama Holdings’ plans for a “microunit” project in South End
And a wrap-up of land deals and real estate news from us and other sources
Starts on Charlotte-area apartments fell to an 11-year low in the 1Q
by Tony Mecia
Developers broke ground on just 900 multifamily units in the Charlotte region in the first quarter of this year — the first time the figure has been below 1,000 in a quarter in 11 years.
New numbers from real estate data company CoStar Group underscore just how much local developers are holding off on starting new apartments, amid a building spree in recent years that flattened rents as new construction comes online.
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