Charlotte Avenue is a 320-unit, Class A multifamily development located in the Sylvan Heights neighborhood of Nashville, TN, just 5 minutes west of downtown. Sylvan Heights has a unique industrial history and has seen rapid growth due it’s urban-suburban character, trendy retail developments, and high-end new homes. This $79.8 million build-to-core project – Origin’s first in Nashville – has already raised $10 million through a sidecar deal open exclusively to current IncomePlus Fund investors. The IncomePlus Fund is contributing an additional $11 million.
Key Deal Points
Our partner on this project is Price Development Group (PDG), a leading real estate company with a vertically integrated general contracting arm and over $500 million of successfully executed real estate development experience. Unlike many vertically integrated developers, PDG is not a merchant builder.
Nashville’s low cost of living and rapid long-term population growth make it an ideal market for a real estate investor. Nashville’s affordability ratio, the ratio between a household’s expenditure on rent versus its income, is a strong 22%, as compared to the national average of 30%.