Castlebridge Residential Buys Acreage in hot Market Charlotte

Castlebridge Residential Development has secured 150 acres in northeast Charlotte for a project that will add 600 residences amid a growing demand for housing.

The Atlanta-based developer purchased four parcels at Old Concord Road and Fairhaven Drive for $20.5 million, the Charlotte Business Journal reported. Castlebridge acquired the land from Blankenship Timber GST Trust. The deal closed on Feb. 11 for about $136,600 per acre.

The project, known as Blankenship, will include 319 single-family homes and 330 attached townhomes and condos.

Pricing for the townhomes will start in the mid-$300,000 range, and single-family homes will cost around $400,000. Ryan Homes is the builder.

Construction on Blankenship began earlier this month in Charlotte’s Newell South neighborhood, near University City. Delivery of the first phase of homes is slated for spring 2026.

Castlebridge has partnered with Ryan homes on several residential communities in Charlotte. These include Anderson Square Townhomes, a 122-unit development in NoDa; Southrail Station, a 194-unit community in lower South End; and Sunset, a development in northwest Charlotte with 129 single-family homes and 150 townhomes.

Castlebridge, headed by CEO Timothy Kemper, is also developing Shopton, a 183-unit project on the southwest side that will have a mix of duplex and triplex building pads. Shopton started construction in September and is expected to deliver later this year.

Charlotte has the seventh most-competitive residential market in the nation, according to Zillow. Home values are projected to increase by 3.2 percent this year, placing Charlotte among the country’s hottest housing markets.

— Andrew Terrell