brightwalkheader
Slide background
Slide background
Slide background
Slide background

Double Oaks

Double Oaks Apartments is situated in the Greater Statesville Avenue Corridor. In September 2007, The Housing Partnership purchased Double Oaks.

Following behind the revitalization of two surrounding neighborhoods, the development of the Greater Statesville Avenue Corridor Plan, the Park at Oaklawn HOPE VI redevelopment, and the 1st phase of the revitalization of Druid Hills, the redevelopment of Double Oaks will greatly enhance the ability to complete the full revitalization of the Greater Statesville Avenue Revitalization Corridor.

brightwalk2At the time of purchase, Double Oaks consisted of 576 units in 165 barracks-style low-density single-story 4-6 unit buildings built in 1950. The 60 acres of land on which the apartments sit is a very strategic piece of land. The site is within 1 mile of downtown Charlotte and is a major part of the Greater Statesville Avenue Corridor, where The Housing Partnership has developed projects totaling $71 million over the last 15 years and other public bodies have invested $51 million on road improvements, new school construction, and water and sewer upgrades in just the 5 years since the Plan was developed.

 

The Housing Partnership demolished existing structures, combined the 60 acres with 10 adjacent acres already owned and is redeveloping the resulting 70 acres (98 with infrastructure) as a mixed-use, mixed-income development. The master plan contemplates combining affordable and market-rate rental housing, affordable and market-rate homeownership and retail and commercial uses with a completed value of over $120 million.

Our Redevelopment Role

The Housing Partnership acts in two roles in the redevelopment of Double Oaks. First, The Housing Partnership acts as the land developer which includes purchasing the property, master planning the development, demolishing the existing structures, building new infrastructure, and selling development parcels to component developers who will build the various components including market-rate apartments, condominiums, single-family homes and townhomes, and commercial uses. Second, The Housing Partnership retains development parcels on which it will build affordable rental developments utilizing low-income housing tax-credits along with other sources of funding. Three developments are currently underway.

 

Brightwalk is contractually obligated to include at least 51% affordable homes and apartments. It is  expected the full Brightwalk area will include at least 452 affordable and 334 market rate homes and approximately 100,000 sq. ft. of commercial development.  To learn more about the evolution of the Historic Double Oaks community visit BrightwalkCharlotte.com.