Proffitt Dixon Brings Developing Transit-Oriented Apartments

CHARLOTTE, NC—Construction is underway on Fountains at New Bern Station, a 208-unit luxury multifamily community at the New Bern Light Rail station. Multifamily developer Proffitt Dixon Partners is investing $26.2 million to build the multifamily community on about five acres in Charlotte’s Historic South End.

“Some Charlotte submarkets demand high enough rent with strong enough occupancies to justify new development,” Stuart Proffitt, managing principal of Proffitt Dixon, tells GlobeSt.com. “The light rail line is a great location for new luxury apartments. People can take the LYNX Blue Line to work, which means fewer cars on the road and cleaner air. Plus, rents will be competitively-priced compared to older communities with fewer amenities.”