The NRP Group, Canyon Partners, CIBC Bank USA break ground on apartment community in Charlotte

The NRP Group, Canyon Partners, CIBC Bank USA break ground on apartment community in Charlotte, N.C.

The NRP Group in collaboration with Canyon Partners Real Estate and CIBC Bank USA, has officially broken ground on South Tryon, a market-rate community that will bring 310 apartments to the rapidly growing South End neighborhood of Charlotte, N.C.

The NRP Group expects South Tryon, its seventh community in the Charlotte area, to be completed in 2025.

Canyon has provided a preferred equity investment to support the development of 3310 S. Tryon St. in conjunction with a senior construction loan from CIBC. South Tryon will be Canyon’s seventh preferred equity transaction with NRP. The five-story development will include a mix of one-, two- and three-bedroom apartments. Floor plans that include a den will be available for one-bedroom units to accommodate post-pandemic work-from-home trends.

“We are thrilled to bring this community to the vibrant South End