Novi Rise at 30 Market St. in Concord, North Carolina — Courtesy: Denholtz Properties/Lansing Melbourne Group
By Joshua Burd
Preleasing is underway at a 167-unit luxury apartment building near Charlotte where Denholtz Properties has partnered with the boutique developer Lansing Melbourne Group.
The seven-story property, Novi Rise, is the largest of three mixed-use projects within a planned portfolio in downtown Concord, North Carolina, according to a news release. It’s slated to welcome its first residents on May 15, offering high-end rentals and spaces such as a lounge, a fitness center, work pods, a conference room and others that will make up many of the Novi portfolio’s shared amenities.
The milestone at 30 Market St. follows the joint venture’s completion last year of Novi Flats, a collection of 48 residences with 2,333 square feet of retail space less than a block from Novi Rise. Novi Lofts, the final community in the portfolio, will bring 89 units and 5,134 square feet of retail space to Concord in late 2024.
“The Novi portfolio was born from the belief that real estate investment should be a positive transformative force to draw new residents, visitors and economic activity to local communities like Concord,” said Peter Flotz, founder and CEO of LMG. “This latest milestone builds upon our success with Novi Flats, and we look forward to welcoming our newest community members to join our vision for Novi Rise in the coming months.”
Red Bank-based Denholtz and LMG also announced a lease with Salon Lofts, which will occupy 4,757 square feet of ground-level retail space at Novi Rise. They added that the three phases of the Novi portfolio will be the first midrise products of their kind in downtown Concord and signal the success of the town’s ongoing multimillion-dollar revitalization spearheaded by the Concord City Commissioners and the Cabarrus Economic Development Corp.
That process has also included the transformation of the town’s former Philip Morris plant into The Grounds at Concord, a 2,000-acre site soon to be anchored by a $2 billion Eli Lilly pharmaceutical plant and a $1 billion Red Bull manufacturing facility, the news release said. Also underway is the renovation and expansion of the Cabarrus County Courthouse, which is a few blocks from Novi Rise.
Denholtz joins partner LMG, local officials to debut 48-unit North Carolina rental property
