Kaplan Residential, Origin Investments to develop $76M Multifamily project in Belmont — Charlotte Business Journal

Cour­tesy Kaplan Res­i­den­tial and Ori­gin Investments

From the Char­lotte Busi­ness Jour­nal: Full Arti­cle Here

Two real estate firms have part­nered to devel­op a major mul­ti­fam­i­ly project just west of Charlotte.

Mul­ti­fam­i­ly devel­op­er Kaplan Res­i­den­tial announced yes­ter­day it had part­nered with Ori­gin Invest­ments to devel­op a $76 mil­lion project in Bel­mont. The project calls for 322 units, includ­ing apart­ments and town­hous­es, and would be com­plet­ed in late 2023 or ear­ly 2024. The project is the first between the two companies. 

The devel­op­ment will include 32 town­homes, along with a mix of one‑, two‑, three-bed­room apart­ments. A name for the project was not announced. 

We are excit­ed for this invest­ment, as it rep­re­sents a tremen­dous oppor­tu­ni­ty to lever­age Bel­mont’s con­tin­ued growth as an increas­ing­ly desir­able sub­mar­ket with lim­it­ed sup­ply,” said, David Wlek, man­ag­ing direc­tor of acqui­si­tions at Ori­gin Invest­ments. “The sub­mar­ket’s 99% occu­pan­cy rate, lim­it­ed pipeline, and a pro­tract­ed approval process pave the way for con­tin­ued strength in the mar­ket and strong per­for­mance for our investors.” 

The project will be on a 39-acre site at 6900 Wilkin­son Boulevard. 

That is the same site where Kaplan Res­i­den­tial pre­vi­ous­ly intend­ed to devel­op a project called The Mor­ris at Bel­mont while part­ner­ing with Char­lotte-based Cat­a­lyst Cap­i­tal Part­ners. In 2019, the devel­op­er won rezon­ing approval for the project, the Char­lotte Busi­ness Jour­nal report­ed at the time, which called for 325 apart­ments. Cat­a­lyst was not men­tioned in yes­ter­day’s announce­ment for the project. 

The project is the lat­est for Kaplan, which focus­es on mul­ti­fam­i­ly and build-to-rent devel­op­ments in the South­east. The devel­op­er has offices in Atlanta and Mia­mi. Ori­gin Invest­ments is head­quar­tered in Chica­go but has region­al offices in Nashville, Ten­nessee, and Dal­las, accord­ing to its website. 

We are pleased to part­ner with the Ori­gin Invest­ments team as fee devel­op­ers to bring this project and addi­tion­al time­ly, build-to-rent con­cepts of life,” said Mor­ris Kaplan, founder, and pres­i­dent of Kaplan Res­i­den­tial. “Togeth­er, we will pro­duce devel­op­ments that fit the rapid­ly-evolv­ing renter demo­graph­ics and deliv­er need­ed lux­u­ry ameni­ties and expan­sive floor­plans in mar­kets we serve.”