SunCap Property Group has acquired 1.64 acres in Charlotte’s Dilworth neighborhood for $13.75 million, with plans to develop a 300,000-square-foot mixed-use project. The purchase includes the building housing Starbucks at 1401 East Blvd., 4244 Scott Ave., 1405 E. Blvd., 1718 Fountain Drive and the Key Man Building at 1409 East Blvd.
The planned $90 million development will include up to 300 residential multi-family units plus 20,000 square feet of office space and 15,000 square feet of retail space upon completion estimated within 18 months after construction begins following approval of a rezoning application filed in March this year which was approved in May .
SunCap has made significant investments into Charlotte real estate market with projects such as Draper Place Townhomes , Draper Place , 550 South , MoRA Point among others .
