September 28. By Dave Yochum. A new development team is taking over the Junker apartments project on West Catawba just down the road from Jetton.
Developer Jamie Rolewicz has partnered with Charlottesville, Virginia-based Castle Development Partners specializing in the development and acquisition of upscale apartment communities as well as moderately priced workforce housing .
Rolewicz and Castle succeed Jake palillo who is building the $ 90 million Symphony Park, an independent luxury resort for seniors on the highway. 73 in Huntersville. It is slated to open in fall 2022. Palillo is also the developer of Bailey’s Glen, which is still selling homes.
Palillo envisioned luxury apartments on West Catawba, theorizing they would exploit downsizing baby boomers in neighborhoods like The Peninsula.
According to Mecklenburg County records, the Junker property changed hands for $ 3.6 million yesterday.
Rolewicz and Castle will be 50-50 partners; Castle will take care of development and construction.
Former mayor on board
Former Cornelius Mayor Chuck Travis was hired to do the design work.
“He has a vested interest in the community,” Rolewicz said.
High Watermark in the Condo Market
The focus on the 195-unit Junker project has always been on luxury, Rolewicz said. He is the developer of Filigree co-ownership project less than a mile east where units sell for over a million dollars each.
Rolewicz expects construction on the new apartment complex to begin in 2023. At this time, there is no name for the apartments, which will include a clubhouse.
Rolewicz said he would contact neighbors at nearby townhouses, some of whom have objected to the apartment complex facing West Catawba. It was initially planned for 252 units.