Recently, the Charlotte Business Journal highlighted East Charlotte’s new development The Village of Commonwealth as an exception to what seems to the be new normal for uninspired design for Charlotte’s apartment boom.
From the story:
In a story about Charlotte’s apartment market that appeared in Friday’s print edition of the CBJ, Ravin said his company spent extra time to come up with more creative floorplans at The Village of Commonwealth, and those units have leased the quickest. The first phase at the project in Plaza Midwood totals 401 units and is 20% leased and 15% occupied.
Ravin says his firm tries to deliver apartment projects that can’t be easily mimicked, and he believes that generically designed properties may soon start to suffer as renters migrate toward quality.
“Those things that were just put up with speed and not necessarily thought all the way through, one starts to differentiate those from other projects,” he says. “The renter starts to select projects on better corners that are designed and built better. I tend to want to see the competition for the product begin to materialize because I think we are positioned to do better just because of the history and the time we spend getting it done.”