A mixed-income, mixed-use development has opened to bring 353 units to the heart of Uptown Charlotte, North Carolina.
Trella Uptown was developed through a public-private partnership led by INLIVIAN, Urban Atlantic, and Horizon Development Properties (HDP), INLIVIAN’s development subsidiary.
Located in the central business district, the project brings together market-rate and attainable homes alongside retail and shared community spaces, creating a vibrant, inclusive destination.
The community includes one-, two-, and three-bedroom apartments, with 70% designated as market-rate and 30% as attainable homes. Thirty-five units are for residents earning up to 80% of the area median income (AMI), two units for residents at 60% of the AMI, 37 units for residents at 50% of the AMI, 32 units for residents at 30% of the AMI.
Officials said 69 of the affordable units are supported through project-based vouchers.
“Trella Uptown reflects what is possible when we are intentional about creating housing that welcomes everyone,” said Fulton Meachem, president and CEO of INLIVIAN, a nonprofit real estate holding company and Charlotte’s housing authority. “We are proud to introduce Charlotte’s first mixed-income and mixed-use community of this scale in North Carolina. This development delivers high-quality, affordable housing at the center of opportunity, where employment, transportation, and services come together.”
Financing for the approximately $137 million project reflects a strong commitment to inclusive growth, combining public and private resources, including low-income housing tax credits (LIHTCs), city and county housing investments, and private lending.
J.P. Morgan provided two separate construction loans, with $50.6 million for building 247 market units and an additional $16.3 million for the construction of 106 attainable units. The development team partnered with Red Stone Equity Partners as the LIHTC syndicator and Aetna as the investor.
HDP served as the market-rate limited partner. In addition, the city provided $3.2 million from its Housing Trust Fund and Mecklenburg County provided $6 million in an affordable housing grant. HDP provided a $7.8 million construction loan. Barings provided a combined $70.1 million forward permanent loan commitment bifurcated into an attainable and market-rate collateral structure.