A Charlotte, North Carolina-based company has a plan to mix townhouses into a large development north of the city that currently includes stores, offices, medical facilities and apartments.
Castlebridge Residential Development bought land in The Park-Huntersville for 120 townhouses, according to a statement Monday from Foundry Commercial, a commercial real estate firm that helped arrange the purchase. Castlebridge lists eight active residential projects in the Charlotte region on its website; most of them involve townhouses.
"This project reflects Castlebridge's continued commitment to delivering high-quality housing in desirable locations that meet the needs of today's homebuyers,” CEO Timothy Kemper said in the statement.
The new townhouses will be a roughly 20-minute drive from Uptown Charlotte via Interstate 77 and five minutes from the center of Huntersville, a town that the U.S. Census found had a population just over 61,000 in 2020, up from 47,000 a decade earlier. The median townhouse sales price in Huntersville is about $395,000, according to Homes.com data, with an average size of 1,860 square feet.
Aside from its proximity to Charlotte, Huntersville is distinguished by its share of Lake Norman’s shoreline. Growth around the lake has helped drive the town’s overall expansion in recent years. This month, a 200-acre former dairy farm near the lake and about 6 miles from the planned townhouses was sold for development, Foundry Commercial said in a statement about the transaction. Shea Homes plans high-end single-family houses on the site, Foundry said.
The Park-Huntersville’s main entrance is in a cluster of retail stores on Gilead Road, with the development extending south along Reese Boulevard. Silver Cos., a Florida-based developer that sold Castlebridge the land for the townhouses, manages 226 apartments on an adjacent property and another 332 apartments closer to the retail area. In between are several clusters of office and industrial buildings, as well as a pond with a walking path.
“We are committed to this community and recognize its long-term growth potential. That’s why we chose a quality neighbor, one that complements our communities,” Spencer Silver, the seller’s president, said in the statement.