### Taylor Morrison Purchases $58M Lakefront Property Near Charlotte
Homebuilder Taylor Morrison has acquired a 162-acre lakefront property near Charlotte for $58 million. The company plans to develop **The Coves at Lake Wylie**, a residential community within *The Palisades* neighborhood.
The project will feature a mix of townhomes, single-family homes, and lakefront properties, with approvals for up to 499 housing units. As part of a larger master-planned community, the development will include retail spaces, grocery stores, and a variety of dining options, all located just 30 minutes from Charlotte’s city center.
Cushman & Wakefield’s Alex Phillips, Andy Slowik, Battle Smith, and Sparling Davis represented the seller, Drapac Capital. Phillips highlighted the extensive work undertaken by Drapac Capital Partners to secure full project approval, ensuring a low-risk investment for Taylor Morrison.
With approvals in place, the developer is set to begin construction immediately.
