Parkwood Station Development

Deal Summary:

2014 Vision Ventures assembled and purchased the 4 parcel NODA site
2017 Parcels were rezoned to TOD (Transit Oriented Development)-Mix Use
2017 Vision Ventures successfully sold the site to NRP Properties
2019 NRP completed a 307 unit apartment complex with a retail component

Vision Ventures acquired 4 parcels and 41,000 square feet of Industrial buildings totaling 3.05 acres via a loan foreclosure filed by Wells Fargo. Three additional adjacent parcels were assembled allowing for the closure of a shared alley way. A right of way was negotiated with the City of Charlotte for the purpose of a Light Rail stop beautification project. This all allowed for a greater density and more efficient 3.65 acre site. The assemblage was rezoned from I-2 to TOD-Mixed-use in 2017. The site presented an unparalleled opportunity to develop a Transit-Oriented, urban infill mixed use project. The site is directly abutting the Parkwood Avenue Station, which is the first station outside of uptown Charlotte and Blue Line Extension running to the UNCC Campus. Vision Ventures successfully sold the site to NRP Properties in April 2017 with plans to develop 300+ unit class A apartments and 7,000 sf of retail. 

308 E. Craighead Development

Deal Summary:

2014 Vision Ventures purchased the REO parcel
2015 Vision Ventures purchased 4 additional adjacent parcels
2015 Vision Ventures was granted a Brownfield Agreement for the assemblage
2017 the parcels were rezoned to TOD (Transit Oriented Development)-Mix Use
2018 Vision Ventures successfully sold the assemblage to Nashville based Stonehenge Development
2019 Stonehenge completed a 312 unit apartment complex

Vision Ventures purchased the 9.54 acre site from Community One Bank ,(REO). The site was formerly the Abernathy Lumber Company. The parcel sits at the intersection of Craighead and Davidson streets. This assemblage is the largest flat, cleared and developable track along the Light Rail in Charlotte’s NODA neighborhood. Vision assembled 4 additional adjacent properties. Because one of the parcels was formerly the site of Abernathy Lumber Company parcel, a Brownfield Agreement was needed and in 2016 Vision Ventures was successful in obtain one from the State of North Carolina,. Subsequently, a Brownfield Agreement was obtained for all associated parcels as well.. The property was successfully rezoned from I-1 and UR-2 to TOD-M in May of 2017