Crescent Communities and GTIS Partners are working together on an industrial project planned in Huntersville. The local planning board is recommending approval of a rezoning request that would allow the duo to build 450,000 square feet of industrial space at 12705 Commerce Station Drive, which is called Axial Commerce Station. The buildings are slated to be 316,250 square feet and 136,5000 square feet. Crescent is hoping to start by the end of this year. The buildings will be delivered in late 2026.

The Charlotte Business Journal reports the developer said the total investment in the project would exceed $50 million. Crescent estimates that once the buildings are completed, the project will create over 250 jobs.

New York-based real estate investment firm GTIS also has several projects in the Charlotte area. The firm announced plans for a $27 million industrial project in Gaston County.

Levine Properties, Northwood Ravin and Horizon Development Properties are working together on a $500 million redevelopment of the former Providence Square shopping center (photo). The total site encompasses 113 acres at the intersections of Old Providence and Providence roads and Sardis Lane. Plans for the project call for a combined 2,200 apartments and townhomes, 180,000 square feet of retail and 45,000 square feet of office space.

The Charlotte Business Journal reports all three developers own separate parcels and each will be approved together. The City of Charlotte and Mecklenberg County have offered up tax incentives.

Horizon will redevelop Gladedale Homes with up to 350 multifamily units and up to 50 single-family homes, with no more than 380 total units. The residences will be a mix of affordable, workforce and market-rate housing.

Plans for Northwood Ravin’s 20 acres include 650 multifamily units, 80 single-family attached townhomes and 15 single-family lots.

Levine will redevelop 85 acres with a mix of single-family and multifamily residences, up to 1,112 units. The developer will also build a grocer store.

Lalani Ventures is working with Exact Capital on a mixed-use, mixed-income at Underground Atlanta, a project Lalani is developing. Underground Atlanta is a shopping and entertainment district located in the city’s Five Points neighborhood. The project has a price tag of $160 million.

Of the project’s 405 units, 163 will be deemed affordable. The city provided a $40 million incentive to provide affordable units.

The 30-story tower’s affordable units will be available to households at or below 60% of the area median income and will share the same amenities as the others. The project is expected to break ground by the end of next year.

Just last week, Lalani was listed as part of a joint venture that is turning an Atlanta office highrise into apartments, offices and retail space.

TA Realty and EdgeConneX are working together on a 324 MW hyperscale data center near Atlanta. Construction is set to start later this year, and the first phase is expected to come online by 2026. The campus is slated for Union City, southwest of Atlanta.

Microsoft is reported to be the end user for the future campus. The development will eventually measure about 2.1 million square feet and cost roughly $1.8 billion.

In addition to the first 612,000-square-foot building to be delivered in Phase 1, two more facilities of the same size are to be constructed in three phases, with the entire project set for completion by 2029.

Last month, the Development Authority of Fulton County approved $75 million in incentives over a 10-year period for EdgeConneX. The project is expected to create about 50 full-time jobs and 400 to 600 temporary construction jobs. The 10-year economic impact is estimated to be approximately $2.9 billion with about $200 million in tax revenues over the same period.

By now the duo of Novare Group and Batson-Cook should be pretty familiar with each other. A build-to-rent housing development in the works in Port Wentworth will be their 39th collaboration. The project will be on roughly 33 acres near State Route 21 and Interstate 95 near Savannah. This site is immediately adjacent to Wentworth Park Residences, a 328-unit multifamily community, which the joint venture partners also built.

Plans include five floor plans with three or four-bedroom units and attached one or two-car garages. Public amenities include an on-site clubhouse, pool and fitness center. 

The first phase of homes is scheduled for completion in late summer 2025. The project team includes ResiBuilt and Eagle Excavation as contractors. The development is capitalized by Ameris Bank as the lender, Marble Capital as the preferred equity provider, and BCDC and Novare Group as sponsors.