SunCap Property Group has purchased 1.64 acres in Charlotte’s Dilworth neighborhood for $13.75 million, with plans to develop a 300,000-square-foot mixed-use project on the site. The purchase includes a 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 feature 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. SunCap previously filed a rezoning application in March which was approved in May allowing for the residential units; construction is expected to take about one and half years once underway .
SunCap has made significant investments into Charlotte’s real estate market including Draper Place Townhomes, Draper Place 550 South as well as MoRA Point developments .
