Atlanta-based Blue River Development, LLC has expanded into Charlotte, N.C. Currently, with two developments are in process with other options in the works for a total of 500 lots, the company is excited to be a new part of the “Queen City.”  

With more than 6,000 total lots in some form of due diligence, entitlements and construction across the Southeast, the Blue River Development team has more than 20 years of experience in acquiring and developing nearly $2 billion in residential, multifamily and retail projects.

“Charlotte will be our second home,” Managing Principal Brad Cooper said. “Charlotte currently has a population of 2.9 million in its MSA. It has grown 20% in the last 10 years and is expected to grow another 15% by 2030.

“There are tremendous growth opportunities for builders and developers in the market,” Cooper added. “With massive job growth and infrastructure problems that have stalled the ability to build much-needed housing in the market, it has a lot of pent-up demand. Once the market starts moving forward, it will outpace Atlanta in terms of percentage of growth.” 

Blue River Development Strategic Partner Michael Meshkaty and Land Acquisition Manager Chase Mallein will team up to spearhead entry in Charlotte. Together, they will tag team finding organic leads and tracking the market effectively. 

Blue River Development will focus on multiple development corridors - the I-85 corridor from Kings Mountain, Gastonia and Belmont through to Harrisburg, Concord, Kannapolis, China Grove and Salisbury; the I-77 corridor from Rock Hill, Indian Land and Fort Mil up to Huntersville, Lake Norman, Davidson, Mooresville, Troutman and Stateville; the Hwy 321 corridor from York and Clover to Dallas, Lincolnton, Newton and Hickory; and the Hwy 16 corridor from Midland to Albermarle. 

These areas are well-established or are on the path of growth with a high ceiling. 

Charlotte is the second-largest financial capital in the country with high income, millennial-driven growth. Lots of technology, distribution and financial jobs are available. It is a well-educated, well-rounded market for anyone who wants to live or work there, not to mention a good value. 

Prices in Charlotte are not as inflated as other large markets on the West Coast and in the northeast. With the cost of living is more affordable, homebuyers get a better value for their money, which has been one of the primary drivers of growth in Charlotte. 

“There are lots of first-time and move-up buyers in the area. Basically, you can head in any direction in Charlotte and hit an established or a growing market,” Cooper said. “Millennials just starting to buy homes and will continue for next 10 years, especially along the burgeoning I-85 corridor.”