January 31, 2012

New Forum, Inc., the primary developer and property manager of the Town of Ayrsley, has announced the commencement of construction on its latest project, The Lofts at Charleston Row. The Lofts, a 98-unit apartment and retail complex, is the first phase of what will ultimately be 230 apartments and 8,902 square feet of retail space at Ayrsley.

Driven by Southwest Charlotte’s thriving job market, the first phase of The Lofts broke ground in November. The project will add much needed housing in Mecklenburg County’s largest employment district and provide additional ground floor retail to Ayrsley’s already diverse mix of offices, shops and restaurants. “Ayrsley has become the hub for SW Charlotte’s business growth. Our restaurants, hotels and other service providers have all done well during the recession. We are very fortunate that companies like Siemens, Time Warner, Maersk, Microsoft, and others have located around us,” says Charley Hodges President of New Forum, the project’s developer.

“The Lofts at Charleston Row is an exciting project and a truly unique concept offering both exceptionally designed interior and exterior spaces. The apartments have functional floor plans and the kind of upgraded fixtures you would expect to find in a custom home,” says Tonya Sciranko, Charlotte’s Regional Director for Northwood Raven, which will be managing the Lofts.

The Lofts will change the current dynamic of Ayrsley by adding a large number of residential units in the center of Ayrsley’s business and entertainment district. What has been a 7 AM – 9 PM environment at Ayrsley is becoming a 24-7 community with the addition of the Lofts as well as other urban lifestyle projects such as the Delicat Market, Harry’s Grille & Tavern and the Catwalk, an outdoor pedestrian walkway connecting various retail and outdoor uses at Ayrsley.

“Residents of The Lofts will open their front doors and find themselves in the middle of dining, shopping, entertainment and outdoor activities,” says Gene Bodycott, Executive Vice President and Broker-in-Charge at New Forum. “They will be able to live, work, shop and find leisure activities, all without ever using their car.”

Charles Hodges, added that “according to a recent Urban Land Institute study, our target tenants, Echo Boomers [born 1977-1995], select their residence by considering a variety of factors including its proximity to work, neighborhood walkability, price and amenities. Ayrsley is the epitome of what they are looking for.”

New Forum called upon Overcash & Demmitt to design The Lofts at Charleston Row. Concorde Construction is the general contractor on the project. The Lofts are slated to open in August 2012 but are now taking advanced apartment reservations. Preleasing information on The Lofts can be obtained by e-mailing loftsatayrsleypreleasing@gmail.com or calling 704-731-5538.

Based in Charlotte, NC, New Forum is a leading developer of sustainable, master-planned mixed-use and senior communities. www.newforum.net.

Concorde Construction Company is a full service general contractor providing construction, pre-construction, consulting and design-build services to a range of commercial, hospitality, urban mixed-use, medical office, industrial and multi-unit clients. Since its inception in 1994, Concorde has distinguished itself through the successful completion of many high-profile, complex projects throughout the Carolinas. Concorde is located in Charlotte, NC. www.concordeconst.com.

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New Forum is a Charlotte-based developer with an established track record of successful projects that benefit both the community and shareholders alike. With over $275 Million of office, retail, residential and special use projects, New Forum has become Charlotte’s leading provider of sustainable master-planned developments, focusing on urban mixed-use and retirement communities. New Forum’s portfolio consists of 20+ projects, each exhibiting an efficient use of resources and sensitivity to the issues of maintenance and management. It has a track record of delivering projects on-time and within budget with financial returns that meet or exceed projections.
New Forum has extensive experience in developing complex, community-based projects. Its expertise in up-zoning and master planning and its ability to select the right project at the right time has created strong investor returns despite a faltering economy.