Capstone Companies is pleased to announce the successful closing of the sale of Harborside at Lake Norman, a ±10.46-acre multifamily development site located at Slanting Bridge Road & Village Center North in Sherrills Ford, North Carolina near Charlotte.
The transaction was led by Managing Director of Multifamily Investment Sales, Eric Liebich with Firm Partner, Ron Corrao, and brokerage team members Josh Greenwald, Scott Fuller, Matt Weinstein, Dane Lozier, and Mike Mosher assisting in the sale process. Capstone sourced both the seller, Red Hill Ventures, and the buyer, River Rock Development – a prominent North Carolina based developer active across the Southeast, Midwest, and Mid-Atlantic regions.
“Harborside at Lake Norman presented a unique development opportunity with by-right multifamily zoning and entitlements in-place,” said Liebich. “The by-right zoning paired with the site’s excellent location within a larger master-planned community, as well as the site’s proximity to retail and commercial services, make this an ideal site for a 55+ active adult community,” added Liebich.
Harborside at Lake Norman will consist of 195 units with the project designed to be built as a 55+ active adult community. The site is part of the larger master-planned development, The Village at Sherrills Ford, which is anchored by Publix grocer and a variety of retail, medical office, and dining options. The property enjoys easy access to River Hwy (NC-150), and over 125,000 square feet of retail space. Additionally, the surrounding area has seen significant growth and investment, including recent infrastructure improvements to I-77, providing an ideal position for the development in the market.
Capstone was founded in 2008 with a vision to better serve the stakeholders involved in the shift of the for-sale residential market toward growth & demand in rental assets. We built an all-inclusive platform supporting multifamily investment in its many forms. Since then, Capstone has risen to support clients with a continuously expanding range of services across an ever-growing geographic coverage. As rental markets continue to evolve, Capstone is more equipped than ever to offer the service and inventory that real estate professionals need.
