Avison Young has been engaged to market Savoy Apartments, a 302-unit Class A multifamily community at 650 E. Brooklyn Village Ave. in Charlotte. The six-story property includes four ground-floor retail suites and is being positioned as an institutional-quality offering in the Uptown Charlotte neighborhood.
The marketing assignment is being led by an Avison Young team of James Nelson, Erik Edeen, James Hanson, Steven Peden and Steven Peden, along with Kim Troeller. The firm has been retained to solicit investor interest in the asset, which combines multifamily housing with a small retail component at the base of the building.
Savoy Apartments offers a mix of studio, one-, two- and three-bedroom floorplans. According to the marketing team, the property is currently more than 95% occupied, reflecting strong demand for Class A rental housing in Uptown Charlotte. Unit layouts and the range of floorplan types are aimed at serving a broad renter base, from single professionals to small households.
The community features an extensive amenity package, including a swimming pool, coworking-style spaces, a fitness center, pet-focused amenities, covered parking and ground-floor retail. These common-area offerings are intended to support resident retention and help the property compete with other top-tier multifamily assets in the urban core.
Background on the site and development timeline highlights the evolution of the asset. The Charlotte Business Journal reports that Creek Lane and Proffitt Dixon acquired the 2.6-acre site in January 2017 for $4,500,000. Construction on Savoy Apartments began shortly after that acquisition, and the property opened to residents in 2019, adding new Class A inventory to the Uptown Charlotte multifamily market.
The Charlotte Business Journal also notes that the county’s most recent assessment places the current value of Savoy Apartments at approximately $90,300,000. This assessment reflects both the stabilized occupancy and the property’s position among the premier multifamily communities in Uptown Charlotte, supported by its amenity set, location and ground-floor retail component.
With a stabilized, highly occupied profile and a downtown-adjacent address, Savoy Apartments represents a sizable, modern multifamily asset now being formally brought to market. The current marketing effort by Avison Young is expected to draw interest from a range of multifamily investors focused on high-quality urban product in Charlotte.
