CHARLOTTE – Abacus Capital and Middleburg have acquired a 7.54-acre site near Camp North End for $16.5 million and plan to begin construction in October on a 365-unit multifamily development called 28G.
The off-market purchase covers two city blocks at 2426 North Graham Street in Charlotte’s North End. The sale closed Sept. 17, according to a Charlotte Business Journal report, which identified Starnes Commercial Properties LLC as the seller.
The planned community will include 246 one-bedroom apartments, 88 two-bedroom apartments and 31 two-bedroom townhomes across 12 buildings. The project will total approximately 325,592 rentable square feet, according to Abacus Capital’s Sept. 24 announcement.
The developers expect the first units to be available in mid-2028 and full construction to be completed in early 2029. The completed land acquisition moves a long-planned project toward an October construction start, adding 365 planned residences to Charlotte’s North End development pipeline.
The site is across North Graham Street from Camp North End and less than a five-minute walk from a planned station on Charlotte’s future Red Line commuter rail, Abacus said. The 28G name refers to the intersection of North Graham and 28th streets.
Abacus Capital and Middleburg are developing the project. Middleburg Construction is the general contractor, BB+M is the architect, McAdams is the civil engineer, Colony Construction Management is the construction manager and Middleburg Property Management will manage the community after delivery.
Featured image: Official rendering of the planned 28G apartment development. Credit: Abacus Capital.