SkyHouse Uptown Developers Secure Land, Financing for Second Tower

By Eliza Theiss, Associate Editor SkyHouse Uptown is getting an encore. Developers of the 336-unit apartment project at the corner of North Church and West 10th streets have purchased land for a second SkyHouse apartment tower, reports the Charlotte Business Journal. Grubb Properties, Novare Group and Batson Cook Construction have purchased the City Center Inn [...]

SkyHouse Uptown

SkyHouse Uptown is getting an encore. Developers of the 336-unit apartment project at the corner of North Church and West 10th streets have purchased land for a second SkyHouse apartment tower, reports the Charlotte Business Journal.

Grubb Properties, Novare Group and Batson Cook Construction have purchased the City Center Inn next to SkyHouse Uptown for $8.6 million through an entity called SkyHouse Charlotte II. The former Days Inn is slated for demolition in the first half of December.

According to the Charlotte Business Journal, the developers have already secured $44.9 million in financing through a Compass Bank construction loan. Development on the second apartment tower is expected to start in 2015.

The 336-unit SkyHouse Uptown kicked off construction in March and is expected to be completed in June 2015. The 24-story mixed-use luxury tower will comprise studio, one-,two and three-bedroom apartments and luxury finishes. The 24th floor will be dedicated to the project’s high-end amenities.  As previously reported by Multi-Housing News, those amenities include a club room, fitness area, outdoor plazas complete with a swimming pool, fireplaces, outdoor covered lounges and views of the Charlotte skyline. SkyHouse Uptown will be Energy Star-certified. According to the Charlotte Business Journal, SkyHouse Uptown topped out in late October.

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Rendering credit: Novare Group