Looking to the Future
It’s no secret that Charlotte has become one of the nation’s fastest-growing metro areas, and North Carolina is riding a wave of economic development. Although inflation remains persistent and high, it hasn’t stopped Charlotte from adding 32,300 jobs last year and 115 people moving here daily. People are taking jobs in the financial and tech sector and industries that struggled to rehire post-pandemic, namely leisure & hospitality, health care, and local government. While single-family homebuilding has slowed, apartment construction remains strong, with plenty of projects in the pipeline. How will Mecklenburg County rental housing providers keep up with the increased demand for housing?
Thankfully, the City Council is proactive about adding the necessary apartments by unanimously voting to approve a 12-story apartment community with commercial space on the ground level. The 175-unit apartment community in Plaza Midwood will help ease Charlotte’s housing crisis. Mayor Pro Tem Dante Anderson didn’t shy away from expressing her view that growth is inevitable and thoughtful development will take Plaza Midwood to new heights. “As we move forward with development in Plaza Midwood and the adjacent neighborhoods, there will be more projects that bring more density,” Anderson said. Having a pro-development mindset will continue to bring the needed housing Charlotte must have to keep up with the increased migration. The Greater Charlotte Apartment Association applauds City Council members for understanding how rental housing benefits the community.
The mixed-use development will provide housing, and the future Silver Line will have two light rail stops nearby. Last year, the City Council approved a $13.5 billion transportation plan for the Silver Line. It’s no secret that public transportation and housing go hand in hand. This strategic location will open the Plaza Midwood neighborhood to essential workers who might not otherwise be able to afford the rent. Their proactive mindset is crucial for setting Charlotte up for long-term success. As migration trends push thousands of people a year to North Carolina, our elected officials must provide the necessary housing needs.