Charlotte is preparing for a significant real estate development with its latest housing project. Through it, residents of the Enderly Park neighborhood can find access to posh housing units. Prices reaching up to $1 million for these homes have sparked debate within the Charlotte community.
Highlights
- The Enclave is a luxurious housing project in Enderly Park with houses ranging from $875K to $1 million.
- Existing residents are worried that they might get displaced from the Charlotte neighborhood through gentrification.
- Developers pitch for the need to have a mixed-income neighborhood for Charlotte’s long-term growth.
The Enclave Emerges as Charlotte’s Expensive Housing Project
A luxurious home under the Enclave project of Charlotte (Source: @the_enclave_at_enderly_parkinstagram)
Charlotte’s latest housing initiative by developer James Scruggs is set to bring 15 houses to the Black neighborhood at Enderly Park. Project developers have stated that the housing rates for ‘The Enclave’ range from $875K to $1 million.
Residents describe it as one of the most expensive Enderly Park projects, with such high prices. According to Redfin’s findings, The Enclave’s rates are almost triple the median home price of $350K for the last year.
Homes Sold Till Now
Bringing a modern farmhouse feeling, the houses of The Enclave are spread in about a 2,000 to 3,000 sq. ft. area. Aspiring homeowners of the Enderly Park neighborhood can get three-or four-bedroom apartments through the project.
As of now, four out of the 15 homes have been sold in the Enclave project. Whereas one is being completed and the other is under contract. The other remaining homes will come up in the next few weeks.
A community open house is being planned to showcase the development to Enderly Park residents.
Existing Enderly Park Residents Fear Gentrification
Although the Enclave project promises luxe apartments and amenities, some Enderly Park residents are concerned that its high housing costs might lead to gentrification.
Shamaiye Haynes, the co-director of QC Family Tree, a nonprofit organization described the housing project as a ‘double-edged sword.’ Longtime residents, who are mostly Black, in the Enderly Park neighborhood are worried that they might get pushed out like they had been in the past.
Even if some consider purchasing homes in The Enclave, the prospect of higher property taxes poses a concern. Failure to pay the same could result in the displacement of the people of Enderly Park.
Elderly people in the Charlotte neighborhood are also apprehensive about the project, as they too cannot handle the tax burden at a time when they think of their retirement plans. Another affected group is the single-family homes that cannot afford to pay high taxes for a luxury housing project.
The Enclave’s Developers Pitch for Mixed-income Neighborhoods
Developers of the newest Enderly Park housing project are aware of displacement concerns among the residents. However, they are emphasizing creating mixed-income neighborhoods, which would enhance economic mobility.
According to Scruggs, if different socioeconomic classes resided together in the Charlotte neighborhood, people would rise higher on the economic ladder.
He added that the Enclave is part of their strategy to balance affordable housing with market-rate housing across Charlotte. This could help them make sure that residents of Enderly Park have a clear path to long-term equity and homeownership.
Without both things, Charlotte residents could not achieve growth. Scruggs reiterated the need for a mixed-income environment in Enderly Park where different classes can stay and grow together.
The latest housing project at Enderly Park highlights the tension between development and gentrification. While the Enclave promises luxury housing and mixed-income living, concerns of longtime Charlotte residents will keep emerging. The biggest challenge for developers will be to bring a balance between community preservation and Charlotte’s growth.
