Jefferson Apartment Group (JAG), a leading multifamily developer and operator specializing in premier apartment communities on the East Coast, is making its North Carolina debut in Charlotte with a just-closed land purchase and its expansion into the area with a new regional office.
JAG has purchased a 5-acre parcel at 200 Wadsworth Place in the Optimist Park neighborhood of
Charlotte along with its equity partner Cadre. Optimist Park is within a mile of uptown—Charlotte’s
central business district—and is situated among some of the area’s most sought-after neighborhoods,
including NoDa and Belmont. The site has been graded and full construction will start this summer on
this 350-unit Class A mid-rise with financing through United Bank.
Signaling a commitment to expand its 1,000-unit pipeline in the Carolinas, Washington, DC-based JAG
has established a Charlotte office, where it has several development projects in the planning stages. In
addition to their own pipeline, JAG Management will begin offering property management services to
third party regional owners.
“As our pipeline of projects in the Carolinas continues to grow, we knew it was the right time to plant
roots in Charlotte,” said Jim Butz, President and CEO of Jefferson Apartment Group. “The Queen City
is experiencing explosive growth, and we feel confident that it is not slowing down anytime soon. We’re
looking forward to investing more in the Carolinas region.”
As for JAG’s debut project in Charlotte, Senior Vice President and Development Partner Greg Van Wie
said, “200 Wadsworth Place has been a long-time in the making, and we’re excited to see it begin to
take shape. The industrial history around North Charlotte is rich, and we’ve worked hard to represent
the heritage of the Optimist Park neighborhood in our architecture and design.”
The exterior of the 6-story building will feature red brick and ironwork, and units will be a mix of studio,
one- and two-bedrooms ranging from 585 square feet to 1,027 square feet—some with private balconies and views of uptown. All units will feature top-of-the-line finishes, including plank flooring, quartz countertops, stainless steel appliances, and tile backsplashes. Additionally, 355 parking spaces will be available to residents, consisting of both garage and surface parking.
Amenities will include a lounge with double-sided fireplace, game room, fitness center, open coworking space, pet spa, and a bike storage room with maintenance bench. Outdoor amenities include a resort-
style swimming pool and two courtyards. The building’s interior assumes nostalgia meets vintage travel, inspired in a fresh new way through a Vestaboard in the lobby lounge adding a distinctive railway element to the atmosphere and with touches of Gingham patterns in the interior design as a nod to the
fabric mill that was previously located next door at what is now Optimist Hall.
In addition to its proximity to the uptown business district, 200 Wadsworth Place is convenient to
interstates 277 and 74 and is an easy walk (a little over six blocks) to the new Parkwood Station on the
Lynx Blue Line.
“Transit-oriented communities are very much in line with market demand across Charlotte,” said Ryan
Munoz, Cadre’s Director of Private Equity Real Estate. “The close proximity to uptown and the NoDa
arts district makes this project even more appealing. We are pleased to be partnering with Jefferson
Apartment Group on this premier property in Optimist Park.”
For more information about 200 Wadsworth Place and JAG, please visit jeffersonapartmentgroup.com.
