Kairoi Residential is expecting to invest $500 million on projects in Charlotte. So far, the company has a handful of properties in various stages of planning.

Its first, which is under construction now, is 5Line, a community in the lower South End that will have 434 apartment units and 82 townhomes. Kairoi acquired the property in November 2020 for $12.6 million. The Charlotte Business Journal reports the company’s second project is a five-story, 450-unit apartment community at 650 State St.

Additionally, Kairoi is in the planning phases for projects in Matthews and University City, as well as one along Clanton Road. The developer bought 505 and 515 Clanton, a Super 8 Motel and the McLeod Addictive Disease Center, respectively, for $15 million in June 2022.

On its website, Kairoi touts that since 2003, the partnership has transacted $9.7 billion across 65,000 multifamily units in many cities and states around the country.

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