**Flournoy Development Breaks Ground on Fourth Rental Community in Charlotte**
Flournoy Development Group has received approval for a new mixed-use residential and commercial project in University City, Charlotte. Located at 2200 Electrolux Way, the development will be constructed in two phases.
The initial phase will consist of approximately 320 multifamily residential units distributed across seven buildings, along with 3,000 square feet of commercial space. The second phase plans call for 240 additional multifamily units and 20 attached townhomes spread across six buildings, complemented by 4,500 square feet of commercial space.
The project site is currently owned by Centene Corporation, which purchased the land for $9 million in July 2020, according to public records. Centene previously owned an adjacent 700,000-square-foot office facility, which has since been acquired by Vanguard. Vanguard is now consolidating its 2,400 Charlotte-based employees into the University Research Park building from several scattered locations throughout the city.
This latest development marks Flournoy’s fourth residential project in the Charlotte area, further expanding the company’s footprint in one of North Carolina’s most rapidly growing markets.
