Laurel Street, a multifamily residential developer, has begun construction on Springhouse Square – a new mixed-income and multi-generational apartment complex located at 3800 Shamrock Drive in east Charlotte. The project is expected to be completed by the end of 2025 with the first units available by spring of that year.
Spanning over 10 acres, Springhouse Square comprises three distinct apartment communities offering diverse housing options for families and seniors across all income levels. With a total of 236 apartments, the development will feature 136 affordable units ranging from 30% AMI to80% AMI alongside100 market-rate units.
The estimated cost for developing Springhouse Square is $68 million. Financing for this project was made possible through various sources including City of Charlotte Housing Trust Fund, LISC Fund Management (managing two funds – Charlotte Housing Opportunity Investment Fund and Black Economic Development Fund), North Carolina Housing Finance Agency, Red Stone Equity Partners,Central Bank & Trust Co., Banc of America Community Development Corporation,Crescent Communities , Prudential,and TD Bank.Shook Kelley has been responsible for designing this project (photo).
Construction Progresses on Mixed-Age Apartments in East Charlotte
