A real estate firm that’s recently been in the national spotlight is buying in Charlotte.
R Investments, based in Denver, is under contract to purchase the Independence Place property on Independence Boulevard in east Charlotte, which is in an opportunity zone. The firm expects to close on the property, which offers short- and long-term rentals, within 30 days, said Travis Steffens, CEO of R Investments.
R Investments will spend about $3.5 million renovating the 176-unit housing property after purchasing it. The plan is to rent units to homeless veterans, many of whom are expected to be employed on R Investments’ construction sites, a model the firm has used in other cities.
When President Donald Trump visited Charlotte earlier this month, he invited to the stage Tony Rankins, a formerly homeless vet now employed by R Investments. Rankins was also invited to attend Trump’s State of the Union address prior to the Charlotte visit. Rankins’ story has been used to support Trump’s opportunity zone legislation, which the president discussed in Charlotte.
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