Elevation Real Estate Group and Great Lakes Capital to Build Granger Village, a 204-Unit Multi-Family Development in Mooresville, North Carolina
Charlotte, Feb. 4, 2021 (GLOBE NEWSWIRE) – Elevation Real Estate Group, a Charlotte-based real estate company, recently partnered with Great Lakes Capital to purchase 18.6 acres of land on the southeast corner of the Charlotte Highway (Highway 21 ) and East Waterlynn Road in Mooresville, North Carolina. The package will be expanded into a multi-family complex with 204 residential units, mixed use, and will be known as Granger Village.
Located near Exit 33 of Interstate 77 on Lake Norman, Granger Village will include apartment buildings and two commercial spaces that can include 15,500 square feet of retail, restaurant and doctor’s office space. The Granger Village location is perfect, less than 1 mile from established retail stores, grocery stores, hotels, the Lake Norman Regional Medical Center, the Lowe Home Improvement Corporate Center and other major employment hubs in the Mooresville community.
Construction is scheduled to start in the second quarter of 2021. The first opening is expected in the second quarter of 2022. Letting is scheduled to begin at the end of 2021. The architectural firm for the project is Finley Design of Raleigh, North Carolina. The architectural style of the apartment buildings looks more urban than traditional garden style.
“Granger Village is our first foray into multi-family development in over 25 years of retail development experience and will diversify our investment portfolio,” said Chris La Mack, principal of Elevation Real Estate Group. “Although we are developing real estate throughout the Southeast, we look forward to continuing to use our experience in development projects here in our own garden.”
“We are aggressively pursuing new multi-family home development opportunities in the Midwest, Southeast, Southwest and Mountain states and are excited to partner with Elevation Real Estate Group to expand our real estate investment presence.” said Clay Scheetz, managing director, director and head of the multi-family platform at Great Lakes Capital.
Elevation Real Estate recently launched the Focus Office Suites brand, which provides professional, turnkey office space with health and safety in mind. The first of several planned locations in Greater Charlotte is now open at 9541 Julian Clark Avenue in Huntersville, North Carolina. In November 2020, the company also acquired Parc Place in Short Pump, an 82,968 square foot mall outside of Richmond, Virginia.
Visit www.grangervillage.com to see first pictures and to sign up for construction and leasing updates. For information on digital assets from Elevation Real Estate Group, Great Lakes Capital, and Granger Village, please visit: http://bit.ly/3pM8hIt.
About Elevation Real Estate Group
Elevation Real Estate Group is a full service real estate company based in Charlotte, NC that has been involved in the acquisition, development, repositioning, and sale of more than $ 1.5 billion in commercial real estate, primarily throughout the Southeast . Elevation Acquisition & Development focuses on the identification, acquisition and development of high quality real estate for retail, office, multi-family and hotel purposes through joint ventures with institutional investors, family businesses and private investors. Elevation Retail Management is an external commercial property and property portfolio manager. You can find more information at www.elevation-re.com.
About the capital of the Great Lakes
Headquartered in South Bend, Indiana with additional offices in Ft. Wayne and Indianapolis, Great Lakes Capital, is a real estate development and private equity firm investing in a variety of core property types including industrial, office, medical and life sciences, hotels, apartment buildings and mixed-use real estate. Multi-family, mixed-use and industrial properties remain the fastest growing segments of the Great Lakes. Since opening in 2005, Great Lakes has successfully invested in billions in real estate projects and currently has a development pipeline of more than $ 600 million. Great Lakes’ six clients have nearly 170 years of experience and have completed more than $ 7 billion in commercial real estate investments across property types, regions, capital structures and business cycles. More information is available at www.greatlakescapital.com.
Contact: Andy McGowan Watkins McGowan e: [email protected] c: 404.834.3481