Construction on a 335-unit community dubbed Residences at The Pass is well underway in Charlotte, North Carolina. Recently, Third & Urban received $65 million to build the 12-acre mixed-use project. However, it was the CBRE Vice Chairman Nate Sittema and Partner Elliott Voreis who procured the financing for the development. While Blueprint Local was the project’s primary Capital Partner, and CrossHarbor Capital served as the lender.
Third & Urban is building the Residences at The Pass as part of a multi-phase mixed-use development known as The Pass. This massive community will be situated at 530 E. Sugar Creek, 4100, and 4212 Raleigh St. It will include multifamily residences with studios, and one- and two-bedroom apartments. Additionally, The Pass will also have a 260,000 sq. ft. office and retail component.
Thus far, the Developers have begun the first phase, Pass41, which includes 80,000 sq. ft. for retail. They expect the first set of tenants, including Soul Gastrolounge to be open for business by this fall.
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Development plans for Residences at The Pass community
Construction on the Residences at The Pass is taking place within Charlotte’s NoDa Arts District. Its location is right next to the light rail station at Sugar Creek. Pixel Design Collaborative was responsible for the design plan which includes a mix of studios, and one and two-bedroom apartment options. It will include shared amenities such as a resident club room, work lounge and café. Residents will also have access to a rooftop terrace overlooking the courtyard and pool deck.
Furthermore, the Residences at The Pass will also offer easy accessibility to the Cross Charlotte Trail. Third & Urban expects the first set of move-ins to begin by the summer of 2025. The plan for the project also involves preserving the current warehouse facade and integrating it with new buildings. Additionally, the developer will create a “pocket park” beneath the overpass.
The design-build team working on The Pass will include architect Niles Bolton and civil engineer Thomas & Hutton. Meanwhile, NRP Group will be the project’s general contractor. Foundry Commercial will handle leasing arrangements for office spaces, and Thrift Commercial Real Estate will be in charge of leasing retail.
