A new build-to-rent community is underway in Matthews. The first residents there are expected to move in later this year.
South Carolina-based homebuilder Center Park Group has started construction on Marglyn at Matthews, a 73-unit rental townhome project. CPG is building the project on behalf of Canvas Residential Partners, which was formed by Charlotte-based Collett Capital in 2022 to develop BTR communities. Marglyn at Matthews will include a mix of three- and four-bedroom townhomes.
Preleasing at Marglyn at Matthews is expected to begin in August, with move-ins to start in September.
The project is at 1748 Marglyn Drive near the interchange of U.S. 74 and Interstate 485. The site was acquired for $3.65 million by an entity affiliated with Canvas Residential and Collett Capital in 2023, according to Mecklenburg County real estate records. It bought the site from The Leon Levine Foundation, records show.
Matthews town records show Canvas Residential received a preliminary plat approval last year for the Marglyn project.
CPG also partnered last year with Canvas Residential to build a 222-unit townhome project in the Mountain Island Lake area of Charlotte.
“Marglyn at Matthews represents our continued commitment to building high-quality, intentionally located rental communities that meet the growing demand for flexible living,” said Jason Esposito, CEO and managing partner of Center Park Group.
Collett Capital teamed with Creighton Call, formerly of Crescent Communities and Davidson Homes, to launch Canvas Residential three years ago. The company focuses on developing BTR communities with between 60 and 250 homes and a mix of floorplans with two to four bedrooms.
This article was originally published in the Charlotte Business Journal.
