NEWSTAR Unveils Major Single-Family Rental Project in Charlotte

NEWSTAR Reveals Exciting Development Plans

NEWSTAR has exciting news to share as it embarks on a significant new project. The company has acquired 23 acres on Harrisburg Road in the vibrant city of Charlotte, where it plans to develop an innovative single-family rental neighborhood called Long Farm. This project will incorporate 159 beautifully designed homes, marking a substantial expansion of NEWSTAR's footprint in the Charlotte market.

A Closer Look at Long Farm

Long Farm will consist of two-story duplex and triplex homes, each thoughtfully designed with attached garages and premium finishes. Noteworthy features include Hardiplank facades, Stone Plastic Composite flooring, and Quartz countertops, ensuring a touch of luxury throughout. Additionally, the homes will boast walk-in showers, framed mirrors, and soft-close cabinetry. Residents can enjoy outdoor spaces with sodded and fenced-in yards, a reflection of the modern living standards expected in Charlotte.

Community Amenities and Lifestyle

The new neighborhood will not only focus on the homes but also enhance the community experience. Long Farm will include a resort-style pool, a clubhouse with a fitness center, and a well-maintained dog park for furry friends. These amenities are designed to foster a vibrant community atmosphere and cater to an active lifestyle.

Strategic Partnerships and Construction Plans

To bring this ambitious project to life, NEWSTAR is teaming up with Red Cedar Homes, known for being one of the fastest-growing private homebuilders in the region. The partnership aims to leverage both expertise and local knowledge, ensuring that Long Farm meets the high standards residents expect. Boone DuPree, the Chief Executive Officer of NEWSTAR, expressed enthusiasm about the development, noting that this is the company's largest neighborhood project to date.

Affordable Housing Solutions

One of the standout features of Long Farm is its commitment to affordability. NEWSTAR plans to offer homes at a significant discount compared to the current market rates for new constructions in the area, which often exceed $500,000. This initiative is critical, especially considering that there are over 115,000 residents within a 5-mile radius, averaging about $100,000 in household income. By providing affordable housing options, NEWSTAR hopes to cater to these excellent demographics.

Upcoming Milestones for Long Farm

The project is well underway, with clearing and sitework anticipated to commence in the first quarter of the upcoming year. The excitement around Long Farm continues to build, especially with the expectation of the first homes becoming available in the first half of the following year. Such timelines showcase the company's commitment to efficiency and rapid development in fulfilling housing needs.

Contact Information

For interested individuals wanting to learn more about the development or engage with NEWSTAR, contact details are readily available. NEWSTAR Asset Management remains available for inquiries regarding this transformative project.

Frequently Asked Questions

What is the Long Farm project?

The Long Farm project is a single-family rental neighborhood being developed by NEWSTAR, featuring 159 homes in Charlotte.

What amenities will Long Farm offer?

Residents can look forward to a resort-style pool, clubhouse with a fitness center, and a dog park, enhancing community living.

Who are the partners involved in the Long Farm development?

NEWSTAR is partnering with Red Cedar Homes, a prominent local homebuilder, to execute the project effectively.

What types of homes will be available at Long Farm?

The neighborhood will include duplex and triplex homes, with modern finishes and spacious designs to cater to families.

When is Long Farm expected to open?

Construction will begin soon, with the first homes anticipated to be available in the first half of the following year.

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