Greystar, White Point Break Ground on Ascent South End

CHARLOTTE, N.C., March 3, 2022 /PRNewswire/ -- Greystar, a global leader in the investment, development, and management of high-quality rental housing properties, in partnership with White Point (WP), recently broke ground on a 24-story building that will have 324 apartment homes and approximately 15,000 SF of ground-floor retail.

"South End is one of the premier urban neighborhoods in the Southeast," Josh Glover, Senior Director of Development, said. "We're excited start construction on Greystar's second high-rise residential project in Charlotte, and the first institutionally-sized residential high-rise in the South End."

Ascent South End will feature floor plans ranging from microunits to three-bedrooms plus two- and three-bedroom penthouses. Apartment home finishes will have high-end features typically found in custom homes, including custom closets, elevated appliance and fixture packages and highly functional kitchens. The building will feature more than 20,000 sq. ft. of amenity space so that residents can work, relax and exercise or visit the rooftop deck and enjoy views of the Charlotte skyline.

WP is partnering with Greystar on the high-rise with the goal of creating a unique place at the heart of South End. Designed with South End's past as a warehouse district in mind, Ascent South End will feature a largely masonry exterior and oversized windows. The building is next door to WP's planned office tower and adjacent to Dilworth Artisan Station, a three-story WP adaptive re-use property.

"We are thrilled to be partnering with White Point on this transformational redevelopment project, and to work closely with them to bring new life to this key part of South End," said Glover.

"Ascent South End will bring highly sought after residential and retail space to South End, nicely complement our adjacent office tower development and Dilworth Artisan Station and will solidify this block as the premier live-work-play destination in Charlotte's hottest area," says Justin Trowbridge, Principal at White Point.

The development will focus on minimizing on-site waste and maximizing indoor environmental quality using smart thermostats, lighting control strategies and safer materials. Additionally, Ascent South End will feature EV charging stations and has a high walkability score with access to public transit.

In addition to Ascent South End, Greystar is working on several other developments in Charlotte, including Lower South End ("LoSo"), Indian Trail, Prosperity Village, Album Huntersville and a large two-phase project in University City.

WPP has $800+ million of mixed-use projects in planning or under development in Charlotte, Charleston, and Raleigh.

Ascent South End is slated to open in early 2024.

About Greystar 
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates approximately $230 billion of real estate in 215 markets globally including offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 754,000 units/beds, and has a robust institutional investment management platform with more than $49.9 billion of assets under management, including $22.6 billion of development assets. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.

About White Point
White Point is a private real estate investment firm that utilizes local market knowledge, an extensive network and entrepreneurial approach to pinpoint unique investment opportunities. The Charlotte, NC-based firm specializes in the acquisition and development of office, retail, mixed-use and multifamily properties across the Southeast. Since 2014, the team has developed or acquired over $900 million of real estate assets, with an additional $800 million in development. For more information on White Point, visit whitepointpartners.com.

SOURCE Greystar