Alliance Residential Co. has opened Broadstone Optimist Park, a 323-unit luxury community in Charlotte, N.C. The developer broke ground on the project in October 2021 and financed its construction with a $43 million loan provided by Wells Fargo Bank, according to Yardi Matrix data.
The development team included Cline Design Associates as architect, McAdams Co. as the development’s civil engineer and LS3P as the interior designer—all Charlotte-based firms.
The community encompasses studio, one- and two-bedroom units and townhomes, ranging from 600 to 1,368 square feet. The asset also includes 1,250 square feet of retail space, the same data provider shows.
Common-area amenities of the 2.9-acre property consist of a swimming pool with cabanas, dining areas, a fitness center, a clubroom, coworking spaces, along with a podcast recording studio. In addition, the community has 410 parking spaces including 40 EV charging stations.
Located at 2010 N. Brevard St., Broadstone Optimistic Park is close to the NoDa neighborhood and Optimist Hall, comprising a host of dining options. Cordelia Park is within walking distance and downtown Charlotte is roughly 2 miles southwest.
Charlotte inventory remains solid
Alliance Residential Co. owns 129 multifamily properties across the U.S., in various stages of completion, the same data provider shows. This amounts to more than 38,500 units. In the Charlotte market, the company owns five properties—four of which under construction—totaling 1,531 units.
In the first half of the year, developers completed 21 projects in Charlotte, amounting to just under 4,600 units, according to a recent ranking by Yardi Matrix. Completions increased 33 percent year-over-year, highlighting that demand in the metro remains solid.
