Welcome to our Development section where we showcase our commitment to creating vibrant and sustainable communities. At HDP, we specialize in bringing innovative projects to life, each designed with meticulous attention to detail and a focus on enhancing the lives of those who reside within them.
Our development process begins with a vision—to reimagine spaces, revitalize neighborhoods, and redefine urban living. Through strategic planning, collaboration with local stakeholders, and a dedication to excellence, we transform ideas into reality, creating homes and communities that inspire and endure.
As we continue to push the boundaries of real estate development, we’re excited to share a glimpse into some of our self-funded and Public-Private Partnerships (P3) projects. P3 projects are innovative and collaborative strategic alliances between public entities and private organizations that enable us to leverage our combined expertise, resources, and vision in delivering transformative projects that benefit communities.
As we continue to push the boundaries of real estate development, we’re excited to share a glimpse into these exciting projects in various stages of development.
OPERATIONAL
Completed and Now Open for Leasing.
The Gaston at North End stands as a sincere tribute honoring Darryl Gaston, a revered servant leader whose influence will resonate throughout the neighborhood for generations. As the pastor of Smallwood Presbyterian and a prominent figure in the North End Community Coalition, Gaston contributed significantly to both the local church and the wider Charlotte community. His steadfast presence in the Druid Hills and North End areas, coupled with his unwavering dedication to homeless ministry, marked him as a trusted partner of INLIVIAN and a beacon of hope for many. Gaston’s passing in 2021 left a profound void in the community, but his legacy as a tireless advocate for the marginalized will endure.
The Gaston at North End is a $34 million project featuring 144 units, catering to mixed-income residents with earnings ranging from 30% to 80% of the Area Median Income (AMI). Spanning 178,000 square feet across four stories, the building occupies a 4.27-acre site that was previously home to the Dillehay Courts public housing, comprising 36 units across 10 buildings. Each unit boasts spacious interiors with nine-foot ceilings, Energy Star appliances, luxury vinyl plank and carport flooring, and either a balcony or patio, depending on its location within the building. Residents can also enjoy various interior amenities such as a leasing office, community room, fitness center, mail room equipped for package delivery, and a dedicated computer room. Outdoor amenities include a playground, outdoor seating areas, and a covered picnic area, enhancing the overall living experience for residents.
The development was financed using 4% LIHTC Bonds, City of Charlotte Housing Trust Funds, developer equity, construction loan, and Freddie/Fannie permanent financing.
The Gaston North End was placed in service on October 31, 2023.
Our partnership with Rea Ventures Group has resulted in the development of 102 affordable housing units, catering to individuals with incomes ranging from 30% to 70% of the Area Median Income (AMI), income-averaged to 60% AMI. This project is funded through a combination of 4% Low-Income Housing Tax Credits (LIHTC), Tax Exempt Bonds, Housing Trust Fund (HTF), Charlotte Housing Opportunity Investment Fund (CHOIF), and debt financing. Notably, 30% AMI units are underwritten with Project-Based Vouchers (PBV) to ensure affordability. The deal closed in June 2021 and was placed in service in 2023, offering 1, 2, and 3-bedroom units. Situated in the Brookshire/I-485 Activity Center and Interchange, this development benefits from its location in a high-income area with a low poverty rate of 5.0%. It is conveniently located within close proximity to over 1,100 jobs, including the new Corning HQ at Riverbend, and is adjacent to a CATS bus transit stop and I-485 Interchange. Within a 5-minute walk, residents have access to various amenities, including grocery stores, an urgent care facility, banks, medical practices, a church, preschool, bus stops, as well as numerous stores and restaurants, further enhancing the livability and convenience of the community. The development is managed by CAHEC Management, Inc.
Our partnership with Elmington Capital Group has led to the development of 202 affordable housing units in the family building and 131 units in the senior building, catering to individuals with incomes ranging from 30% to 80% of the Area Median Income (AMI), income-averaged to 60% AMI. Funded through a combination of 4% Low-Income Housing Tax Credits (LIHTC), Tax Exempt Bonds, and Taxable Bonds, the project reached financial closing in December 2019 and was completed in 2022. The residential units boast balconies with storage areas, stainless steel appliances, and granite countertops. Additionally, community amenities such as a playground, multiple seating areas, clubhouse with a community room, pool, fitness room, and cybercafé enhance the living experience. With 1, 2, and 3-bedroom units available, this development embodies our commitment to providing quality affordable housing options. This development is managed by Elmington Management Group.
Evoke Living at Arrowood, a P3 collaboration with Crosland Southeast, presents a significant opportunity in affordable housing. Comprising 168 units, all 100% affordable for individuals earning between 30% and 80% of the Area Median Income (AMI), income-averaged to 60%, the project is funded through various sources including 4% tax credits, tax-exempt bonds, Housing Trust Fund (HTF), Truist Sub Debt, and Deferred Developer Fees. With financial closure in April 2021, construction was successfully completed, and the units were placed in service in 2023. The development’s strategic location adjacent to the Harper Campus of CPCC offers residents easy access to educational opportunities, while amenities such as a clubhouse building with community room, fitness center, computer center, and laundry facility ensure convenience and comfort. Outdoor features include a playground and covered picnic area, and nearby amenities encompass grocery stores, pharmacies, medical facilities, the Arrowood Light Rail Station, schools, parks, and shopping centers. With 1, 2, and 3-bedroom units available, Evoke Living at Arrowood is poised to provide a vibrant and inclusive community for its residents. This development is managed by S.L. Nusbaum
Evoke Living at Westerly Hills marks an impactful Public-Private Partnership (P3) project with Crosland Southeast, offering 156 units of 100% affordable housing tailored to individuals with incomes ranging from 30% to 80% of the Area Median Income (AMI), income-averaged to 60%. The project, funded through 4% Low-Income Housing Tax Credits (LIHTC) alongside Tax Exempt Bonds, Housing Trust Fund (HTF), and Charlotte Housing Opportunity Investment Fund (CHOIF), has been successfully completed and placed in service in 2022. Boasting generous residential units featuring 2 full bathrooms in all 2- and 3-bedroom units, the development prioritizes resident comfort and convenience. Community amenities, including a clubhouse with a community room, fitness room, computer center, and laundry room, ensure a fulfilling lifestyle for residents. Additionally, the site amenities include a playground and covered picnic area. With convenient transportation access via Wilkinson Blvd, I-77, and I-85, as well as available bus routes including Airport and Jackson Park, residents benefit from excellent connectivity. Notably, the city’s recent announcement regarding the construction of a light rail line between downtown and the airport along Wilkinson Blvd further enhances the area’s accessibility. Offering 1, 2, and 3-bedroom units, Evoke Living at Westerly Hills stands as a testament to the commitment to providing quality affordable housing options in a well-connected community setting. This development is managed by S.L. Nusbaum
Introducing the Flats at 2109, a vibrant development comprising 150 units, all 100% affordable housing ranging from 30% to 80% of the Area Median Income (AMI), income-averaged to 60%. Funded through a combination of 4% Low-Income Housing Tax Credits (LIHTC), tax-exempt bonds, and Deferred Developer Fees, the project was placed in service in 2023. Situated in a lively area experiencing significant private investment and development, the Flats at 2109 offers new construction with easy access to retail, services, and employment opportunities. Its prime location provides walking distance access to schools, stores, and restaurants, with Uptown Charlotte less than 2 miles away. Public transportation options, including bus services, are readily available. With 1, 2, and 3-bedroom units available, the Flats at 2109 aims to provide quality affordable housing options in a convenient and dynamic neighborhood setting. This development is managed by Elmington Management Group.
Freedom Flats entails the development of a 220-unit, 100% affordable multi-family apartment complex, with rents currently set at 60% and 30% of the Area Median Income (AMI), including 5% of units designated for 30% AMI. The project is funded through a combination of 4% tax credits, Tax Exempt Bonds, and Deferred Developer Fees, and was placed in service in 2023. The development boasts a range of amenities, including generous floor plans averaging 1,007 square feet, a clubhouse with a kitchen, computer center, leasing offices, fitness room, playground, tot lot, covered picnic area, and surface parking. Situated within two miles of the site are various amenities, including grocery stores, pharmacies, urgent care facilities, and elementary schools. Offering 1, 2, and 3-bedroom units, this development aims to provide affordable housing options with convenient access to essential services and amenities for its residents. This development is managed by Elmington Management Group.
UNDER CONSTRUCTION
Actively Being Built and Developed.
This groundbreaking development will introduce a dynamic mixed-use space that seamlessly blends residential, commercial, and recreational elements. With modern amenities, eco-friendly design features, and a prime location, it’s poised to set a new standard for urban living. Located in the heart of Uptown Charlotte, Trella Uptown will be a 353-unit mixed-income apartment development with 30% or 106 of those units affordable to families earning between 30% and 80% of AMI.
Alleghany Crossing, a collaborative effort between Elmington Capital Group and the P3 partnership, is poised to bring 220 units tailored for families earning between 30% and 80% of the Area Median Income (AMI) to Charlotte, NC. Strategically located within close proximity to uptown Charlotte, the Freedom Drive corridor, and the Wilkinson Boulevard corridor, the development offers convenient access to retail, services, education, healthcare, and employment opportunities. Benefiting from its proximity to two bus transit stops on Ashley Road and future Lynx Silver Line Transit plans, Alleghany Crossing ensures residents have ample walkability and transportation options. The development will feature five garden-style residential buildings, including a leasing office and community space with amenities such as a fitness center and computer/business center. Aimed at families, the development will boast attractive brick and HardiPlank facades and additional amenities including a playground, swimming pool, outdoor seating spaces, and community green space. Inside, residents will enjoy unit amenities like granite countertops, energy star appliances, spacious units, W/D hookups, attractive finishes, and patios/balconies. Supported by tax-exempt bonds, financial closing occurred in February 2024, with construction targeted for completion by the end of 2025. When completed, the development will be managed by Elmington Management Group.
Evoke Living at Ballantyne, a P3 initiative with Crosland Southeast, is set to introduce 60 high-quality family rental housing units in Ballantyne’s Very High Opportunity Area. Designed to cater to families earning between 30% and 80% of the Area Median Income (AMI), the development boasts 105 parking spots and is situated on a site owned by the City of Charlotte. The Borrower holds a lease option agreement with the city utilizing excess land from the construction of a new police station. Comprising two residential buildings equipped with elevators, the development will offer amenities such as a community room, exercise room, computer center, covered picnic area, and laundry room. Each unit will feature energy-efficient appliances, washer and dryer connections, ceiling fans, and mini blinds. The proximity of the development to essential amenities including Publix, Walgreens, Sprouts Grocery, Walmart Supercenter, Fifth Third Bank, Atrium Health, places of worship, schools, and employment opportunities ensures convenience for residents. Notably, children residing in the development will have access to top-rated schools in Charlotte, such as Ballantyne Elementary School and Ardrey Kell High School. With tax-exempt bonds and additional funding from sources such as Trust Bank, CHOIF Loan, and Housing Trust Funds, the development is poised to provide a sustainable and thriving community. S.L. Nusbaum will manage the development, ensuring efficient operations and resident satisfaction.
IN PRE-DEVELOPMENT
Undergoing Planning & Preparation.
Centre South represents an ambitious Public-Private Partnership (P3) project with The Fallon Group, comprising a diverse development program. Envisioned as a dynamic mixed-use destination, the project will feature 330,000 square feet of office space, 60,000 square feet of retail space, and 725 mixed-use, mixed-income apartments. Of these, 145 units are designated as affordable housing, ensuring inclusivity within the community. Additionally, the development will include a 180-room hotel and 20 townhomes for sale, further enhancing its appeal and offering a comprehensive blend of residential, commercial, and hospitality amenities.
These projects exemplify our commitment to innovation, sustainability, and community-driven development, and we look forward to continuing to partner with public entities to create positive change.
Stay tuned as we embark on these exciting ventures and continue to shape the future of real estate development. Each project is a testament to our passion for innovation and our unwavering dedication to creating spaces where people thrive.
