Charlotte, NC, October 23, 2025
News Summary
Charlotte welcomes the newly renamed luxury apartment community, Axis at the Park, after the acquisition of Elan Research Park by Sherman Residential. With 348 units built in 2023, this property offers a range of living spaces and upscale amenities, targeting professionals in the nearby Research Park. Amenities include a pickleball court, gated dog parks, and a resort-style swimming pool, all designed to attract residents seeking modern, convenient living near top office tenants like Wells Fargo and Atrium Health.
Charlotte has welcomed the newly renamed luxury apartment community Axis at the Park, following the acquisition of Elan Research Park by Sherman Residential. The multifamily property, which boasts 348 units, was built in 2023 and is situated in a vibrant suburban area adjacent to the University of North Carolina Charlotte submarket.
Axis at the Park is strategically located at the doorstep of Research Park, an area featuring 11 million square feet of office space. This prime location is home to significant office tenants, including Wells Fargo, Vanguard, TIAA, and Atrium Health, making it an attractive residence for professionals working in these companies.
The luxury apartment community offers a variety of living spaces, including studio to three-bedroom apartments, which can reach nearly 1,500 square feet. Residents can also choose from two-story townhomes with attached garages. Each apartment comes equipped with upscale finishes, such as quartz countertops and matte black fixtures, providing a modern and stylish living environment.
In terms of amenities, Axis at the Park provides distinctive offerings not typically seen in the area. These include a pickleball court, two gated dog parks, and a resort-style swimming pool complete with designated lap lanes. The property also features modern work and study spaces that offer private offices and groups work booths, catering to residents who may work or study from home.
Outdoor amenities include lounges, fireplaces, green spaces, and various outdoor areas designed for relaxation and socializing. For practical needs, Axis at the Park is equipped with three Level 2 EV chargers, in-unit washers and dryers, a 24-hour fitness center, flex workspaces, and private garages to enhance the convenience for its residents.
Sherman Residential, the company behind this acquisition, has over 100 years of experience in the real estate sector and is based in north suburban Chicago. The acquisition of Axis at the Park was financially backed by a five-year, fixed-rate loan amounting to $47.2 million from Jackson National Life Insurance Company.
This purchase marks Sherman Residential’s return to the Charlotte market after previously selling another property earlier in the year. The multifamily transaction volume in the Charlotte area has seen remarkable growth recently, with total transactions reaching $1.3 billion across 32 properties in the first three quarters of the year.
Property Overview
- Name: Axis at the Park (formerly Elan Research Park)
- Units: 348
- Year Built: 2023
- Location: Near University of North Carolina Charlotte
Key Features
- Apartments: Studio to three-bedroom, up to 1,500 sq ft
- Townhomes: Two-story with attached garages
- Luxurious Finishes: Quartz countertops, matte black fixtures
Amenities List
- Pickleball court
- Two gated dog parks
- Resort-style swimming pool with lap lanes
- Modern workspaces and study areas
- Outdoor lounges and green spaces
- 24-hour fitness center
- Three Level 2 EV chargers
- In-unit washers and dryers
Company Background
Sherman Residential is a family-owned enterprise with over a century of experience in real estate and is headquartered in north suburban Chicago. This latest acquisition highlights their commitment to expanding their portfolio in the thriving Charlotte market.
Market Context
The Charlotte multifamily segment is experiencing notable growth, with $1.3 billion in transaction volume recorded in the first three quarters of the year. The acquisition of Axis at the Park is a strategic move to capitalize on the increasing demand for quality rental spaces in the area.
FAQ Section
Frequently Asked Questions
What is the new name of Elan Research Park?
The property has been renamed Axis at the Park.
What type of living spaces does Axis at the Park offer?
Axis at the Park offers studio to three-bedroom apartments, as well as two-story townhomes.
What amenities can residents expect at Axis at the Park?
Residents can enjoy a pickleball court, gated dog parks, a resort-style swimming pool, modern workspaces, and much more.
Summary of Key Features
| Feature | Details |
|---|---|
| New Name | Axis at the Park |
| Units | 348 |
| Amenities | Pickleball court, gated dog parks, resort-style pool, fitness center |
| Completed | 2023 |
| Company | Sherman Residential, over 100 years in real estate |
| Market Volume | $1.3 billion in multifamily transactions in 2023 |
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Additional Resources
- Sherman Residential Returns to Charlotte Market
- Wikipedia: Sherman Residential
- Greystar Sells Charlotte Community for $68M
- Google Search: Charlotte Community Real Estate
- 5 Secrets of the Anti-Grid in Charlotte
- Google Scholar: Charlotte Traffic Anti-Grid
- Developments Construction Delivering in Charlotte 2025
- Encyclopedia Britannica: Charlotte Development
- Greystar and Blackstone Trade Nearly 1000 Units
- Google News: Greystar Blackstone Trade Units
Author: HERE Charlotte
The CHARLOTTE STAFF WRITER represents the experienced team at HERECharlotte.com, your go-to source for actionable local news and information in Charlotte, Mecklenburg County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Lovin' Life Music Festival, Charlotte Pride festival, and major sporting tournaments at Bank of America Stadium. Our coverage extends to key organizations like the Charlotte Regional Business Alliance and Foundation for the Carolinas, plus leading businesses in finance and entertainment that power the local economy such as Bank of America and NASCAR. As part of the broader HERE network, including HEREAsheville.com, HEREGreensboro.com, HERERaleigh.com, and HEREOBX.com, we provide comprehensive, credible insights into North Carolina's dynamic landscape.
