**Developer Trio Proceeding with Brooklyn Village Affordable Apartments in Charlotte**
BK Partners, along with Peebles Corp and Conformity, is advancing its much-anticipated affordable housing development in Brooklyn Village, located in Charlotte, North Carolina. The $103 million project will feature 250 affordable multifamily units spread across two buildings. The development will also include 9,018 square feet of ground-floor retail space and 175 parking spaces. The apartment offerings will range from studios to one-, two-, and three-bedroom units.
In terms of affordability, the unit breakdown includes:
– 70 units priced for households earning 30% of the area median income (AMI)
– 30 units at 50% AMI
– 42 units at 60% AMI
– 108 units at 80% AMI
Future phases of the Brooklyn Village redevelopment are also in progress and are planned for a 5.43-acre site at Marshall Park (303 S. McDowell St.) and a 5.91-acre site formerly used by the Charlotte-Mecklenburg Schools Board of Education (701 E. Martin Luther King Jr. Blvd.). According to Mecklenburg County, BK Partners will pay $17.5 million for the land needed for Phase 2 and $5.9 million for Phase 3.
This development represents a significant investment in affordable housing in Charlotte, helping to increase access to housing options for residents across various income levels.
