Space Craft and Swinerton are joining forces on Cordo. Cordo, is a joint venture with Lindgren Development, a subsidiary of Swinerton.
The development will include eight buildings and nearly 3,000 square feet of ground-floor retail. Cordo will offer one- to four-bedroom units. Amenities include a rooftop deck, private courtyard, electric bikes, fitness center, shared dining area and coworking space. Construction is slated to begin immediately and is expected to wrap up in late 2026. Swinerton Builders and Timberlab are the project’s general contractor and mass timber subcontractor. Space Craft bought the project’s 1.6 acres for $6 million in 2022.
The eight-story apartment complex will be situated in the Mill District, a thriving, sought-after urban artistic sub-market of Charlotte. The community will be a short walk away from Parkwood Station Lynx light rail stop, allowing for an easy commute to Charlotte’s largest employment and entertainment centers, such as Uptown, South End and University City. Additionally, there is a wide range of grocery stores, dining establishments, parks and vibrant nightlife venues in close proximity, providing ample options for residents to explore.
The firms recently secured $94 million in financing for the project — a $69 million construction loan and $25 million in joint venture equity. A JLL capital market’s debt advisory team led by Travis Anderson arranged the loan through a Japanese lender. Space Craft acquired the 1.6-acre property in April 2022 for $6 million.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Travis Anderson, Managing Director Cory Fowler, Director Warren Johnson and Analyst Chad Lisbeth alongside JLL’s International Capital Coverage partner Naoki Hasegawa.
Space Craft is a real estate development team that builds walkable neighborhoods for city lovers. By designing, building and operating beautiful, sustainable housing and engaging retail in clusters near jobs, transit, retail and open space, Space Craft neighborhoods offer a satisfying alternative to suburban sprawl in the fastest-growing American cities. Space Craft is made up of designers, developers and urbanists who are committed to building better homes and a better future for the planet.
Lindgren Development, Inc. (“Lindgren”) is a national investment firm and a wholly owned subsidiary of Swinerton Incorporated operating alongside several general contracting and specialized construction affiliates across the country. Lindgren specializes in providing capital, balance sheet support, and transaction and project management expertise to secure the success of real estate development projects.
Swinerton provides commercial construction, construction management, design-build, and self-perform services throughout the United States. Founded in 1888, Swinerton is 100% employee-owned and is the preferred builder and trusted partner in every market it serves—proudly leading with ownership, integrity, leadership, passion, and excellence. Swinerton has 22 nationwide offices in Spokane and Seattle, WA; Portland, OR; Boise, ID; Sacramento, Fresno, Concord, San Francisco, Oakland, Santa Clara, Los Angeles, Santa Ana, and San Diego, CA; Honolulu and Maui, HI; Denver, CO; Dallas and Austin, TX; Atlanta, GA; Charlotte and Raleigh, NC; and New York, NY.
