Property: Zora University
Developers: Suncrest Real Estate, Pintar Investment Co.
Architect: The RBA Group
Location: Charlotte, North Carolina
Cost: $23 million
Pre-leasing is underway at Zora University, a gated development of 108 build-to-rent homes in Charlotte, North Carolina’s University City neighborhood, located near the University of North Carolina at Charlotte.
Zora University is the newest addition to Phoenix developer Suncrest Real Estate’s Zora Living build-to-rent property brand, joining Zora Wildwood in Wildwood, Florida, and Zora Encanto in Phoenix.
While new multifamily starts are declining overall, Charlotte has been an active market for new build-to-rent deliveries over the past several years. In 2022, the city saw 475 new units open — a 10-year high, and the fifth-highest level of completions by metro for that year.
Each of the homes at Zora University is a ranch-style duplex with private walk-up entrances, built-in doggy doors and fenced-in backyards. Homes range from one to two bedrooms in size, with open floor plans, large kitchen islands, smart thermostats and lights, and keyless entries.
A system of walking paths connects the homes to the neighborhood’s amenities, including a fitness center and yoga lawn, a swimming pool and sun deck, outdoor grills and courtyards. Lawn care is included as a property service.
In addition to UNC Charlotte, Zora University is also located within a 15-minute drive of Uptown Charlotte and University Research Park. The latter is home to multiple major employers, including Duke Energy, HP, Wells Fargo, AT&T, TIAA, IBM and Merck.
The property is expected to open for move-ins this spring, with RKW Residential as its manager.
Correction: The Zora University development is located near the University of North Carolina at Charlotte.