GTIS Partners and Wood Partners form opportunity zone JV

GTIS Partners has formed a joint venture with Wood Partners.

The firms have broken ground on the development Alta West Morehead, a 308-unit, class A multifamily property located in one of the qualified opportunity zones in Charlotte, N.C., which is expected to cost approximately $72 million.

Once complete, the project will comprise five stories, more than 260,000 square feet of residential, 380 structured parking spaces and 49 surface parking spaces. The building will have a wide range of amenities, including a fitness center, clubroom, resort-style pool, passive courtyard, dog spa, and a virtual concierge.

The project is located within the emerging FreeMoreWest neighborhood within one mile of the Uptown Central Business District and walking distance to the Carolina Panthers' (NFL) stadium. The project will benefit from its proximity to Uptown while offering lower density living and at attractive relative pricing. There has been substantial new development in th