CHARLOTTE, N.C. — A partnership between GMH Communities, AEW Capital Management and Wexford Science & Technology LLC has acquired land within The Pearl innovation district in Charlotte. The partners plan to develop ANOVA The Pearl, a 20-story, 382-unit luxury apartment tower. Completion is slated for summer 2028.
ANOVA The Pearl will encompass 1.3 acres and feature luxury residential accommodations alongside 6,621 square feet of ground-floor retail space. Of the 382 units, 5 percent will be reserved for affordable housing. Amenities will include a fitness center, clubhouse, golf simulator, sauna and cryotherapy chambers.
The developers say the project is designed to meet the growing demand for high-quality housing for professionals working in the life sciences, healthcare and technology industries. The Pearl innovation district, developed through a public-private partnership led by Atrium Health and Wexford Science & Technology, is anchored by Wake Forest University School of Medicine Charlotte, the city’s first four-year medical school.
“We are attracted to locations that we believe benefit from strong institutional anchors and create opportunities for residents to live near major centers of employment and innovation. ANOVA The Pearl reflects these characteristics and represents a residential development within a unique and evolving district in Charlotte,” says Sara Cassidy, portfolio manager at AEW Capital Management.
For 45 years, Boston-based AEW has provided real estate investment management services to investors worldwide. AEW and its affiliates manage $85.5 billion in private real estate equity, debt and listed securities across North America, Europe and Asia as of March 31.
Newton Square, Pa.-based GMH Communities is a privately held real estate company specializing in the acquisition, development and management of living communities throughout the United States. Since 1985, GMH has participated in over 300 transactions representing more than $9.5 billion of gross asset value.
Wexford Science & Technology is a Baltimore-based real estate company that partners with universities, healthcare systems, research institutions and companies to develop environments that catalyze innovation, attract talent and drive economic growth. The firm has delivered more than 10 million square feet nationwide in partnership with over 30 institutional partners.
— Kristin Harlow