New $200M Townhome Project Kicks Off in South Charlotte

A major housing venture is taking shape in Charlotte's Steele Creek area. Three firms will build 187 rental units on a 23-acre plot, with work finishing in August 2027.

"Sterling's new luxury townhome development with EDEN and PREF will be a prominent addition to our development portfolio as we expand our presence in the Southeast," said Todd Katz, Partner at Sterling Equities, per CityBiz.

The new site, Eden Steele Creek, offers two and three-bedroom options. Each unit includes a parking space. At its center stands a 5,000-square-foot social hub.

Residents will find a pool, workout space, and spots to work remotely. Outside, paths wind through green spaces, with areas set aside for pets to run and play.

Scott Phillips, Eden Senior Vice President Mid-Atlantic Development, spoke about market trends. "The demand for luxury housing products in Charlotte remains strong, and this new development will be a showcase of the Sterling and EDEN joint venture's ability to deliver superior residential communities in high-growth markets," Phillips said.

The site sits at the meeting point of Steele Creek and South Tryon roads, beside Atrium Emergency Hospital. Downtown Charlotte lies 12 miles away, while the airport is just 9 miles from the property.

The builders joined forces in 2022 to grow their Southeast presence. This marks their first major Charlotte project.

A team from JLL Carolinas — Taylor Allison, Casey Sherman, and Alexis Kaiser — managed the financial aspects.

Sterling brings five decades of building expertise to the table. Based in New York, their work spans homes, warehouses, storage units, shops, and offices. They've also put money into media and sports, owning part of the New York Mets.

Eden builds where others don't. They're working on over 1,130 units across Florida now. Peakline adds strength to the team, having handled $1.7 billion across six investment pools.