An Arizona real estate firm entered the Charlotte market in 2019 and has been very active in acquiring land and leading the development of large residential projects. And that portfolio might soon be getting larger.
Suncrest is working with landowner HLG Capital LLC and seeking to rezone just over 35 acres in Gastonia to facilitate a new residential project, city documents show. The rezoning request includes a site at 3024 Beaty Road, which is southeast of Gastonia.
City documents show that the rezoning application is looking to allow for the development of up to 190 duplex units at the site. The request is scheduled for consideration by the Gastonia Planning Commission tonight.
Mark McAuley, Suncrest’s director of land development in the Carolinas, told the Charlotte Business Journal that the proposed Gastonia project is part of the company’s Zora duplex product line. Suncrest has a Charlotte project in that line called Zora University, which is advertised as a 108-unit luxury rental community off Rocky River Road.
Planning commission documents refer to the project as Zora Grove Duplexes. The project proposal includes 96 one-bedroom and 94 two-bedroom units. The city’s planning staff has recommended approval of the rezoning request to allow the Suncrest project, according to a staff report available in commission records.
Suncrest entered the Charlotte region in 2019 with a large project in Gastonia and has other developments in the area as well. Its portfolio in the region includes additional projects in Charlotte, Indian Land and Kannapolis. Suncrest is “qualifying, planning and rezoning an additional 2,000 residential lots” in the Charlotte area that can be ready for builders in the next 12 to 36 months, the company said.
The company has acquired about 1,200 acres in the Charlotte region since entering the local market. It works with homebuilders to develop the lots it owns.
