FCP® and joint venture partner Crosland Southeast announce the acquisition and groundbreaking of The Exchange at Indian Land mixed-use development site at Charlotte Highway and Possum Hollow Road in Indian Land, SC within the Charlotte, NC MSA. The three- and four-story residential community will include 400 apartment units and 35,000 square feet of retail space. Additionally, a new shopping center, including a Lowes Foods grocer and 20,000 square feet of retail space, will be part of this master-planned development. First apartment units are anticipated to deliver in early 2024. Alongside FCP and Crosland Southeast, national homebuilder Taylor Morrison will also construct over 300 townhomes within the master plan.
“FCP is excited to partner with Charlotte-based Crosland Southeast on this very well-located and well-planned development,” said FCP Senior Vice President, Alex Cathcart, who heads the firm’s Raleigh office. “The Exchange at Indian Land will provide much-needed apartment living in a rare walkable environment, close to job centers and retail services.”
Indian Land is one of the fastest growing suburbs of Charlotte, featuring highly rated schools and an excellent quality of life. The Exchange at Indian Land apartments will offer direct access to major employers such as Red Ventures, Continental Tire, Movement Mortgage and the future MUSC Hospital, and the site lies just south of the Ballantyne area, home to more than 40,000 jobs. The community will be adjacent to a newly-opened YMCA that features an indoor pool, after-school child care, walking tracks, ballfields, and more.
“We’re eager to get dirt moving after nearly two years of planning,” said Yates Dunaway, Senior Vice President of Crosland Southeast. “Like with many of our past projects, we expect the mixture of uses to create an attractive environment for our future residents and neighbors.”
FCP® is a privately held real estate investment company that has invested in or financed more than $9.3 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.
About Crosland Southeast
Crosland Southeast has a long history of developing award-winning retail and mixed-use projects throughout the Southeast, with its founding members serving as former partners of the 74-year-old Crosland LLC. Today, Crosland Southeast strives to build on its legacy by investing in retail and mixed-use acquisitions and by developing grocery, single-tenant, market-rate and affordable multi-family communities and transformative mixed-use assets that epitomize placemaking at its finest. For more information, please visit www.croslandsoutheast.com.