Canyon Partners, The NRP Group form JV for transit-oriented multifamily development in Charlotte, N.C.
Canyon Partners Real Estate and The NRP Group announced a joint venture for the development of the Abernethy Lofts, a 392-unit, class-A, multifamily community in the NODA submarket of Charlotte, N.C. Canyon provided $35.9 million of LP equity for the development, which is in a qualified opportunity zone. Construction of the community will begin immediately and is expected to be completed in second quarter 2026.
Located within walking distance to the Sugar Creek LYNK Blue Line Rail Station in Charlotte’s North Davidson arts and entertainment district (NoDa), Abernethy Lofts is positioned among hundreds of restaurants, shops, galleries and music venues. Nearby public transportation will provide residents access to the area’s major employment centers, including Uptown Charlotte, University City and the South End.
Abernethy Lofts will total 344,339 square feet and include an extensive amenity package with a resort-style pool, a large outdoor area with private dining, pizza and grilling stations, work-from-home conference pods, a state-of-the-art fitness center and a large dog park. The community will have structured parking with 509 spaces and a garage with branded electric bikes. The community will feature several environmental, social and governance attributes including ENERGY STAR-rated appliances and wi-fi-enabled Smart thermostats.