News Summary
Toll Brothers Apartment Living partners with International Capital to develop The Airedale, a luxury multifamily rental community in Charlotte, NC. Featuring 348 modern apartments, the project includes state-of-the-art amenities like smart home technology and a resort-style swimming pool. With a $56.8 million construction loan from TD Bank, Toll Brothers aims to enhance housing options in the expanding Steele Creek area, strategically located near shopping centers and major highways.
Charlotte, North Carolina – Toll Brothers Apartment Living has announced a joint venture with International Capital to develop The Airedale, a new luxury multifamily rental community comprising 348 units. This marks Toll Brothers’ inaugural multifamily project in North Carolina, a significant expansion for the company known primarily for its high-end single-family homes.
The Airedale will feature a three-story structure offering a diverse selection of floor plans, which will include one-, two-, and three-bedroom units. Each apartment is designed with sophistication in mind, boasting modern interiors that include quartz countertops, stainless steel appliances, soft-close cabinetry, under-cabinet lighting, and modular closets. Furthermore, every unit will be equipped with smart home technology, providing residents with contemporary conveniences.
The project has received a construction loan facility of $56.8 million from TD Bank, which facilitates the financial aspects of the development through equity and debt arrangements managed by Toll Brothers’ in-house Finance Department. After completion, Toll Brothers Apartment Living will oversee the management of the community.
The Airedale is strategically located at 13607 Choate Circle, approximately one mile away from the Rivergate shopping center, and only 15 miles from the bustling downtown area of Charlotte. For those traveling, the Charlotte Douglas International Airport is about 13 miles north of the site.
Planned Amenities and Community Features
The community is designed to offer a variety of common-area amenities aimed at enhancing residents’ lifestyles. These include a resort-style swimming pool, a sun deck equipped with cabanas, an indoor and outdoor fitness center, a pet spa and park, a coworking suite, a conference room, and a clubroom with private dining space. Additionally, a mini market will be available on-site for residents’ convenience.
Market Context
The Airedale is part of a broader development trend in Charlotte, with over 129 projects currently under construction, aimed at adding approximately 33,350 units to the housing market as of July. There are also plans for an additional 420 projects that could introduce around 92,720 units upon their completion.
Toll Brothers Apartment Living is focused on delivering a luxury living experience that aligns with the unique culture of South Charlotte. The Steele Creek area, where The Airedale will be located, is notable for its proximity to outdoor recreational opportunities and major thoroughfares such as I-77 and I-485. Residents will also benefit from nearby grocery options like Sprouts Farmers Market and Publix, as well as diverse dining and retail outlets available at the RiverGate Shopping Center, which includes nationally recognized brands such as Target and Best Buy.
Future Outlook
The enthusiasm surrounding developments like The Airedale highlights growing investor confidence in the Charlotte real estate market. Not only does the area appear to be expanding rapidly, but it is also attracting significant attention from developers seeking to accommodate increasing housing demands.
The completion date for the first apartments at another nearby development, Spectrum Indian Trail, is projected for early 2027. This indicates a long-term strategy by developers to engage with Charlotte’s evolving real estate landscape.
As Toll Brothers continues to integrate luxury living with innovative designs, the growth of The Airedale is positioned to contribute meaningfully to the housing options within one of North Carolina’s most vibrant cities.
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Additional Resources
- YieldPro: The Airedale
- Rebusiness Online: Coldwell Banker Brokers $3.4M Land Sale
- Globe Newswire: Toll Brothers Apartment Living
- Axios: Construction Development Market Predictions
- Encyclopedia Britannica: Charlotte, North Carolina
- Google Search: Toll Brothers Apartment Living
Author: HERE Charlotte
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