CHARLOTTE, NC – Housing & Neighborhood Services Director Shawn Heath, other community officials, and project partners, joined representatives of The NRP Group, a vertically-integrated, best-in-class developer, builder, and manager of multifamily housing, at a ribbon-cutting ceremony to celebrate the grand opening of Sundale Flats, the newest affordable housing community bringing 180 units to residents earning at or below 80% of the Area Median Income (AMI) in Charlotte, N.C.
Providing the residents of Charlotte with more quality affordable rental housing has been a top goal for the City as demand continues to rise, said Shawn Heath, Housing & Neighborhood Services Director, City of Charlotte. Sundale Flats, NRP s eighth community in Charlotte, will directly satisfy that need with conveniences and amenities that enable residents and families to thrive and experience the best of Charlotte. The community is the latest example of NRP s thoughtful and tailored approach to affordable rental housing and their ability to cater to the priorities of Charlotte residents. The City of Charlotte is thankful for affordable housing development partners like NRP that work with the City to make these opportunities.
Located at 2019 Aberdale Farm Lane, Sundale Flats is situated right off North Tryon Street on Eastway Drive in northeast Charlotte, just five stops north of Uptown and close to the Ancient Concord Station on the LYNX Blue Line Light Rail system. Residents also delight in convenient access to the light rail extension with the Ancient Concord Blue Line station less than half a mile away, and a 16-foot wide, multi-use path connecting the community to a larger network of trails. The multi-use path will be part of the 26-mile Cross Charlotte Trail (XCLT) that stretches from the City of Pineville through Center City and onto the UNC Charlotte campus and Cabarrus County Line.
The combination of the Blue Line and XCLT provides residents with convenient access to downtown Charlotte, major employment centers, and recreational opportunities without having to rely on a car. Also located within walking distance is the recently renovated Eastway Recreation Center, ample retail including a Compare Foods and Family Dollar, and Martin Luther King Jr. Middle School.
The need for affordable housing in Charlotte has only grown more acute as a result of the city’s primary location in a buzzing Sunbelt growth market, said Jason Mochizuki, Vice President of Development at The NRP Group. We re honored to help meet that demand with Sundale Flats, a community that will provide families with seamless access to Charlotte s submarkets like Uptown and University City, employment opportunities, retail, dining and more.
Sundale Flats comprises three identical, four-tale residential buildings utilizing a wood frame, elevator-serviced construction style with surface parking. The development also has a freestanding community building with a leasing office. Floor plans feature two-, three- and four-bedroom apartment homes purposefully designed for families with wooden cabinetry, walk-in closets, full size washer and dryer connections, dishwashers and more. Shared amenities include a fitness center, clubhouse and community lounge, business center, playground, outdoor grill and picnic area, on-site laundry room, and on-site parking.
Local and regional partners, including The City of Charlotte, The North Carolina Housing Finance Agency, Inlivian (formerly known as The Charlotte Housing Authority), and Bank of America, provided financing for Sundale Flats. Community Housing Resource Partners, Inc. is the project s not-for-profit development partner.

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INDIANAPOLIS, IN – Real estate private equity firm Gray Capital has closed on their acquisition of Echo Park Apartments, a 154-unit luxury multifamily apartment community located in Bloomington, Indiana.
Gray Capital’s business plot includes a core-plus strategy to improve onsite management and significantly reduce expenses through efficiencies with other Bloomington multifamily assets. Gray Capital’s property management company, Gray Residential, is now managing Echo Park as well as nearby apartment property Forest Ridge.
“Gray Capital is actively looking to expand our footprint in the Bloomington market, and Echo Park is an brilliant addition to our existing portfolio and for The Gray Fund. Bloomington is significantly underhoused with major deficiencies in A-class market rate apartments, so Echo Park is positioned extremely well. Coupled with our low fixed-rate financing terms that we were able to assume, the asset is set up for long term success ” says Spencer Gray, President and CEO of Gray Capital.
Echo Park is the fourth property within Gray Capital’s $100 million multifamily investment fund, The Gray Fund, and it follows the acquisition of Terre Haute-area Sycamore Terrace, Club Meridian in Lansing, MI, and Indianapolis apartment property Stonybrook Commons in 2022.
Gray Capital’s acquisitions in the past year, Echo Park, Sycamore Terrace, Club Meridian, and Stonybrook Commons, total over $155 million and are part of Gray Capital’s $775+ million in assets under management and more than $2 billion in commercial real estate transactions to date since its founding in 2015.

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FAYETTEVILLE, AR – Premiering in 2024, The Aronson, a much-buzzed-about multifamily, entertainment and retail destination will throw open its doors to Fayetteville and Northwest Arkansas. Starring over two hundred of the regions’ most desirable rental homes, this unique mixed use development will also feature restaurants and the world’s greatest movie theater – the Alamo Drafthouse Cinema + Drive-In. Produced by Catchlight Entertainment, a strategic partnership of the ITEX Group and Time Warp Enterprises, The Aronson will be an entertainment community like no other.
“The Aronson will be a beacon of community and fun for all of Fayetteville and Northwest Arkansas,” said Chris Akbari, Catchlight partner and CEO of ITEX. “Residents will be able to delight in the convenience of mortgage-and-maintenance-free living in an upscale bike and pedestrian friendly community filled with parks, green spaces and a host of modern amenities.”
The Aronson’s 214 residences will feature a vibrant mix of single, duplex, and triplex homes alongside several garden-style apartment buildings. With conveniences like bike parking, home offices and dedicated garages, the amenity-rich property will also feature a clubhouse, fitness center, pool, playgrounds and dog parks – all just steps from restaurants and movies.
With The Aronson, Fayetteville residents can look forward to exploring a bike-and pedestrian-friendly neighborhood that encapsulates the local penchant for community, excitement, and fun. The Aronson is truly One Blockbuster of a Neighborhood.
The commercial side of The Aronson will be anchored by Arkansas’s first Alamo Drafthouse Cinema + Drive-In. This will not only be the first Alamo Drafthouse in Arkansas, it will also be the company’s first permanent drive-in theater. The Austin-based cinema-eatery will open in 2024 with 798 luxury recliner seats across 8 indoor theaters equipped with 4kdigital projection, including The Huge Show, Alamo Drafthouse’s Premium Large Format theater with Dolby Atmos sound and 70mm projection capabilities. The drive-in screen will feature parking for cars and bikes and a view from the beer garden.
Like all Alamo Drafthouse cinemas, the new Fayetteville location will offer a scratch-made food menu, local beers on draft, and craft cocktails brought to guests in their seats by stealthy servers trained to not disrupt the movie experience. Speaking of not disrupting the movie, the cinema chain’s famed No Talking/No Texting policy will be in effect at the location to ensure guests can watch films free from annoying distractions.
Guests are encouraged to arrive up to 30 minutes early to screenings for an ad-free preshow with amusing clips, informative video essays, and more. Drafthouse is in the name for a reason, and guests will be able to delight in a cold drink and chatting with other movie fans at the cinema’s standalone bar and beer garden. The bar will have dozens of beers on tap, craft cocktails, and will be set up to host small events, parties, and screenings and the outdoor beer garden will have a view of the drive-in screen.
The Aronson is named for cinema pioneer, and Arkansas native, Max Aronson (screen name Gilbert “Bronco Billy” Anderson). Considered the first film star, Aronson had three roles in the early cinema hit, “The Fantastic Train Robbery” before going on to found Essanay Studios in 1906, where he was both a producer and star. Aronson grew well-known starring in hundreds of silent films as Broncho Billy, the first iconic onscreen cowboy. By 1914 he was dubbed “The King of the Movies” and the following year he recruited rising star Charlie Chaplin to Essanay, where he produced the early classic, “The Tramp,” among other Chaplin productions. Aronson also produced the first Laurel & Hardy title. While Aronson left the film world in the late 1910’s, he was recognized for his role as a film industry pioneer with a 1958 Academy Award.

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