Nearly 2,000 apartments are under construction in the NoDa area

CHARLOTTE — Since the beginning of 2023, developers have announced or broken ground on at least nine multifamily projects in NoDa and its surrounding neighborhoods. Several more are in very early planning stages.

Like the South End and lower South End corridor, NoDa has been an increasingly popular submarket for multifamily developers. Engle Addington, apartment market analyst at Real Data, said the submarket has nearly 2,000 units under construction with another 1,200 units proposed.

NoDa’s proximity to uptown and the Lynx Blue Line, as well as its unique, artistic atmosphere, make the neighborhood attractive to Charlotteans, especially millennials. This, in turn, draws in developers, Addington said.

Experts are forecasting continued growth in the multifamily sector in Charlotte and throughout the Southeast. Though apartment housing is expected to densify over the next few years, Addington said rents will begin to stabilize.

Check out the full story here for a look at what’s going up in the NoDa area.

(WATCH BELOW: Company pulls plan for apartments, shops at Johnston YMCA site in NoDa)

Company pulls plan for apartments, shops at Johnston YMCA site in NoDa

©2023 Cox Media Group