Crescent Plans Second Phase at The Village at Research Park
Crescent Communities has filed a rezoning petition for approximately 38 acres at The Village at Research Park, a mixed-use community in University City.
If approved, the rezoning would allow for up to 300 additional multifamily units at the community, located at the intersection of West Mallard Creek Church Road and Senator Royal Place. At completion, The Village at Research Park will also include up to 100,000 square feet of retail space and potentially a 200-room hotel.
“The Village will provide a walkable, connected community featuring a variety of living, shopping and gathering spaces to the Research Park and the area's 60,000 employees–Charlotte’s second-largest center of commerce,” said Brian Leary, president of commercial and mixed use at Crescent Communities.
The new multifamily units at The Village at Research Park will connect to the retail space through a network of sidewalks and walking trails, and Crescent is including needed offsite roadway and infrastructure improvements in its plans.
Crescent completed its first 320-unit phase of multifamily development at the development, formerly known as Alexander Village, in 2014. The nearby LYNX Blue Line Extension, scheduled to open in summer 2017, will allow residents of The Village at Research Park to ride the light rail to uptown Charlotte and to neighborhoods as far south as Pineville.
“Building upon the success of our first phase of development, The Village at Research Park is well positioned to meet the demand for new multifamily located within a mixed-use environment and in close proximity to mass transit,” said Michael Tubridy, director of development with Crescent’s multifamily group.
Crescent Communities is partnering with Crosland Southeast on the commercial portion of The Village at Research Park. The Crosland Southeast team has a long history of developing and leasing award-winning retail and mixed-use developments across the Southeast and is discussing the site with national and regional retailers, several of which would be new to the Charlotte market.
“Crosland Southeast is excited to be working on The Village at Research Park and we look forward to collaborating with Crescent to create a new destination for University City’s residents, employees and visitors” said James Downs, partner with Crosland Southeast.
A rezoning hearing is expected to take place during the fourth quarter of 2016.