Kairoi Residential has announced plans to invest $500 million in upcoming projects in Charlotte. The company currently has several properties at various stages of development.
One of these projects, 5Line, is already under construction and located in the lower South End area. This community will feature 434 apartment units and 82 townhomes. Kairoi acquired the property for $12.6 million in November 2020. Another project by Kairoi is a five-story apartment complex with 450 units on State St.
In addition to these developments, Kairoi is also planning projects in Matthews, University City, and Clanton Road areas. In June of this year, the developer purchased two properties – a Super 8 Motel and McLeod Addictive Disease Center – for $15 million on Clanton Road.
According to their website, since its establishment in 2003,Kairoi has successfully transacted over $9.7 billion across multiple cities and states around the country totaling approximately65 ,000 multifamily units.
