Hoffman & Associates has had it up to here with not being involved in the Charlotte real estate market.
The Washington, D.C.-based developer is making its first foray into the North Carolina city, the Charlotte Observer reported. Not satisfied with one project, Hoffman is debuting with two projects, both in the same neighborhood and even on the same street.
At 2401 Distribution Street in the Brookhill area of the South End neighborhood, Hoffman is planning a 410-unit building with 5,000 square feet of retail space. Construction will begin in spring 2025 and be delivered by summer 2027.
On the slightly smaller side, Hoffman is planning a 330-unit building with 10,000 square feet of communal space at 2500 Distribution Street. That six-story building will actually break ground first; work is expected to start in the spring and end in approximately two years.
Combined, the two buildings will span more than 800,000 square feet and deliver 740 units to the area.
Hoffman’s projects are typically based around the nation’s capital and the surrounding states of Maryland and Virginia. The company has been pushing deeper into the Southeast, though, expanding into Richmond, Virginia and another major North Carolina city, Raleigh.
The firm has developed $6 billion worth of real estate, more than half of which went towards one project, The Wharf along the Washington, D.C. waterfront. This spring, a two-level, 5,800-square-foot condo in a building of the Wharf sold for $12.8 million, a record for the city.
Charlotte’s South End neighborhood is buzzing with development. Other projects include a 30-story office tower on the corner of Camden Road and West Park Avenue and a massive office and residential complex on South Tryon Street.
Last week, Miami-based Related Group dropped out of a major development in Charlotte’s SouthPark neighborhood. Related’s withdrawal from its site purchase likely ends the condo redevelopment project, which called for more than 700 units and townhouses, along with retail space.
— Holden Walter-Warner
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