CHARLOTTE, N.C. — A 299-apartment community planned for the Piper Glen area of south Charlotte has its construction money lined up. Developer RK Investors and its partners secured an $81 million loan to build Sutherland at Piper Glen at 9621 Elm Lane.
Western-Southern Life Insurance Co. is the lender. A team from CBRE’s Debt and Structured Finance group, Nate Sittema, Kristen Reilley and Elliott Voreis, put the financing together for the investor group led by RK Investors.
Plans call for four apartment buildings, each five stories, sitting on top of structured parking. Residents would get a long list of shared spaces: a gym, bike storage, coworking rooms, a golf simulator, a game room, a pool, a fire pit and grills, a pet wash and a coffee bar.
Leasing is expected to open in fall 2027, and the first apartments should be ready in March 2028.
The complex is the rental piece of Greenway at Piper Glen, a larger master-planned project by RK Investors. Charlotte City Council approved a scaled-back version of that plan unanimously on June 17, 2024, after neighbors raised traffic and environmental worries. The revised plan allows 566 homes across three areas, mixing apartments with attached single-family houses, and says Elm Lane has to be completed before any new building in the final phase can be occupied.
The loan comes as apartment building across the region cools. Developers still finished 6,596 units in the Charlotte market in the first half of 2026, and average asking rent stood at $1,586 in June, down 1.4 percent from a year earlier.
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