Toll Brothers Apartment Living has broken ground on The Airedale, a new 348-unit luxury rental community in Charlotte developed in partnership with International Capital, LLC.
Highlights
- Toll Brothers Apartment Living and International Capital, LLC form a joint venture to develop The Airedale.
- The Charlotte-based community will feature 348 luxury apartment units.
- The partnership has secured a $56.8 million construction loan from TD Bank.
New Development in Luxury Multifamily Housing
A new luxury multifamily housing is underway as Toll Brothers Apartment Living teams up with International Capital, LLC for its first rental development in North Carolina. The joint venture recently secured a $56.8 million construction loan from TD Bank.
The project, named The Airedale, will bring upscale apartment living to Charlotte’s Steele Creek neighborhood. The three-story development will be located at 13607 Choate Circle in Charlotte’s Steele Creek area, near Charlotte Douglas International Airport. Residents will have easy access to the airport, the RiverGate Shopping Center, and local grocery options like Publix and Sprouts.
Major Financing Secured
This marks the first multifamily housing collaboration between Toll Brothers Apartment Living and International Capital. The project is backed by a $56.8 million construction loan from TD Bank.
“International Capital is thrilled to begin development on The Airedale, sparking our first partnership with Toll Brothers Apartment Living,” said Andrew Doster (Vice President of Investments for International Capital). “We have been searching for the right partner, location, and timing for our entrance into the Charlotte market and believe The Airedale checks all the boxes.”
The Airedale Project Details
The luxury extends beyond the units, with a suite of upscale community amenities. The community will offer 348 one-, two-, and three-bedroom apartment homes designed with upscale finishes.
Quartz countertops, stainless steel appliances, and soft-close cabinetry are just a few features. Modular closets and smart home technology also enhance the space. It is not just the apartments that bring a luxurious feeling; it is also the community’s amenities. Some of the amenities residents can expect include:
- A resort-style pool
- A sun deck with cabanas.
- A state-of-the-art indoor/outdoor fitness center.
- A pet spa, along with a pet park spread across a half-acre.
- Individual work pods and conference rooms at a designated coworking suite.
- A clubroom with a private dining room.
- A mini-market
“The Airedale represents a milestone for Toll Brothers Apartment Living as we expand into North Carolina and underscores our commitment to delivering exceptional luxury multifamily communities in high-growth markets,” said John McCullough (President of Toll Brothers Apartment Living). “We are excited to bring a best-in-class living experience to South Charlotte with thoughtfully designed apartment homes and upscale amenities.”
About the Partners in this Joint Venture
Toll Brothers, Inc. has grown into one of the nation’s top luxury homebuilders since its founding in 1967. It now operates in over 60 markets across 24 states. It has subsidiaries in architecture, mortgage, engineering, title, land development, smart home technology, and landscaping.
Their apartment development division, Toll Brothers Apartment Living, is handling this housing project. It merges quality and luxury in rental and mixed-use communities. It also blends vibrant locations with exceptional amenities. Through these efforts, the firm has developed over 10,000 units nationwide and more than 18,000 units in production.
International Capital, LLC, a Dallas-based real estate advisory firm, is partnering on the project. This Texas-based real estate advisory firm sources, acquires, and manages real estate. Over 45 years in the industry, it has successfully represented more than a hundred clients.
With this collaboration, both firms aim to deliver one of South Charlotte’s most thoughtfully designed luxury communities.
