Community Marks Second Venture in Six Months for Terwilliger Pappas and FCP
Terwilliger Pappas Multifamily Partners and Federal Capital Partners® (FCP) have started construction on Solis Ballantyne, a 194-home apartment development in South Charlotte’s Ballantyne community. Solis Ballantyne marks the second prominent development in South Charlotte in just six months for joint venture partners, FCP and Terwilliger Pappas. In April 2015, Terwilliger Pappas and FCP started construction on Solis Waverly, a 375-home apartment community next to a new Whole Foods Market in the Waverly planned development. Solis Ballantyne and Solis Waverly are the first equity investments in Charlotte for FCP, who has an existing strong presence in the Triangle, NC and Charleston, SC markets.
“The design of Solis Ballantyne reflects the demands and tastes of upscale renters in the South Charlotte area,” said Peter A. Pappas, chief executive officer of Terwilliger Pappas.
FCP Managing Partner, Lacy Rice, added, “FCP is excited to partner with Terwilliger Pappas on Solis Ballantyne and Solis Waverly, two well-designed communities located in one of the most compelling settings in the Charlotte MSA.”
Located at the corner of North Community House and Bryant Farm roads, Solis Ballantyne is convenient to the many restaurants, shops and recreational amenities that are a part of Ballantyne. Commercial amenities include Ballantyne Corporate Center, a nationally recognized corporate office campus containing more than 4 million square feet of Class A office.
Solis Ballantyne is comprised of a mix of one, two and three-bedroom floor plans with luxury appointments and finishes. Amenities range from a central courtyard with a resort style pool and grilling stations to an expansive fitness center and yoga room, pet walk, pet grooming station and clubrooms for gatherings, media and entertainment. Detached garages are offered as an option.
Fortune Johnson is the general contractor for the community and is expected to deliver occupancy beginning in August 2016. The design team includes Rule Joy Trammell Rubio Architecture and Interior Design and Cole Jenest Stone for landscape architecture and engineering.
About Terwilliger Pappas
Terwilliger Pappas, founded in 2013 by Peter A. Pappas and industry icon J. Ronald Terwilliger, has developed numerous apartment communities under the firm’s Solis brand. Completed projects include Solis Sharon Square in Charlotte’s SouthPark area, Solis Crabtree in north Raleigh and Solis Downwood in Atlanta. The company is currently developing four additional communities including Solis Dilworth, Solis Ballantyne and Solis Waverly in Charlotte; and Solis Ninth Street in Durham. Its project pipeline also includes new communities in Raleigh, Charlotte, Atlanta and Nashville.
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $4.0 billion in assets since its founding in 1999. FCP invests, owns, develops and manages a portfolio that includes all real estate asset classes in major East Coast Markets. In addition, FCP provides equity, preferred equity and structured debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets on the East Coast of the United States. For further information on FCP, please visit www.fcpdc.com