Schlosser Development

City of Charlotte voted unanimously to approve The Colony redevelopment plans. Thank you to all neighbors and elected officials for your support! As part of long-term strategic planning for this property we've owned since 1976, we have rezoned the site for a mix of up to 990 new multi-family residences, up to 225 hotel rooms, up to 300,000 SF of re... tail, and up to 250,000 SF of office. This mix of uses allows residents to have a place to live within walking distance of their workplace and convenient shopping at The Colony, and around the SouthPark area. The higher density buildings and commercial component will be concentrated along Sharon and Colony Roads. The north side of the site towards Roxborough will see the lower-density residential buildings developed in three phases. For more information, visit our FAQ page . The earliest construction will occur is 3Q 2019, The second phase would include (based on market dynamics and demand) the office building, additional multi-family for-sale or rental units and the small hotel. Additional rental or for-sale residential units will be evaluated in later phases. In the meantime, that parcel will remain open space. Additional residential units will be evaluated in phases. We envision a redevelopment of this scale would take place over a period of 5-6 years. The development team proposed a makeover entirely at developers expense to key medians that now serve as ditches on Colony near Runnymede incorporating trees, shrubs, rebuilt stone headwalls, pedestrian refuge islands, etc. and the developer will agree to maintain those far above the Citys standard maintenance requirements. Synco Properties has been in business since 1971 and currently owns or operates 4,000 multifamily units in 23 properties across the Carolinas. Led by industry veteran Tim Hose (at the company since 1983 and an owner), they are a closely-held business and have owned and operated The Colony since 1976. Synco led the rezoning. In fact, Tim Hose stated he intends to live in The Colony in the future, ...Read More