CONSTRUCTION BEGINS ON 336-UNIT SKYHOUSE UPTOWN IN CHARLOTTE

CHARLOTTE, N.C. — Novare Group, Batson-Cook Development Co. and Grubb Properties, all Southeast-based companies, have started construction on SkyHouse Uptown at the corner of 10th and Church streets in Charlotte's Fourth Ward neighborhood. The 24-story luxury apartment tower will feature one-, two- and three-bedroom units with high-end finishes and floor-to-ceiling windows. Additionally the building with offer a clubhouse, fitness area and outdoor plaza, including a swimming pool, fireplaces, covered outdoor lounges and bird's eye views of the city. The project is designed to meet environmentally sustainable standards and obtain Energy Star certification. This development is the 11th in the SkyHouse program in the Southeast, which involves a joint venture between Novare Group and Baston-Cook Development Co., general contractor Batson-Cook Construction and architectural firm Smallwood, Reynolds, Stewart, Stewart. BBVA/Compass Bank is providing construction financing for the project, and NGI Investments LLC and Baston-Cook Development Co. are providing equity. Robert LaChappelle, Jonathan Rice and Paul Berry of CB Richard Ellis' Atlanta office advised on financing, while Ryan Clutter, also of CBRE, represented the seller in the land transaction.