Madison Communities Secures $80MM Construction Loan for Multifamily Community in Charlotte’s Lower South End

Charlotte, N.C. (February 13, 2024) — Madison Communities, a vertically integrated real estate development and investment firm, has secured an $80 million construction loan for its latest project, a 320-unit multifamily community in the Lower South End (LoSo) neighborhood in Charlotte, N.C.

The financing provided by META Real Estate Partners and Bank of America underscores Madison Communities’ strong leadership and vision by securing debt amidst challenging market conditions. Patterson Real Estate Advisory Group served as the capital advisor and facilitated the sourcing of the loan, further demonstrating Madison Communities’ commitment to strategic partnerships.

“Completing a deal of this size in this current environment is difficult. But we are fortunate to have a great partner in META,” said Ryan Hanks, CEO of parent company Madison Capital Group. “The LoSo submarket continues to be an attractive place for residents to live, and we are excited to build what we think will be a signature community in the marketplace.”

Situated adjacent to Olde Mecklenburg Brewery, Charlotte’s oldest brewery, the new project will include dedicated parking to accommodate brewery patrons, enhancing the neighborhood’s vibrant social scene. The new community is strategically located at the intersection of S. Tryon Street and E. Peterson Drive.

Madison Capital Group will relocate its corporate headquarters to the property directly next to Olde Mecklenburg Brewery, underscoring its long-term commitment to the community and its strategic growth initiatives.

Lower South End offers excellent connectivity, with easy access to major transportation arteries, including I-77 and Billy Graham Parkway. The Scaleybark light-rail station, within walking distance of the community, provides convenient access to South End, Uptown Charlotte, and beyond. South End and Uptown Charlotte are two of the region’s largest employment centers.

Over the past decade, LoSo has emerged as a hub for innovation and economic growth, attracting diverse tech companies, financial institutions, and leading employers such as Lowes Tech HUB, USAA, and LendingTree. The adaptive reuse of historic warehouses into vibrant retail spaces has revitalized the neighborhood, transforming it into a dynamic live-work-play destination for young professionals.