Aspen Heights Partners, an Austin, Texas developer, plans to build nearly 400 townhouses at the corner of South Mint and West Morehead streets.  The site is located near Bank of America Stadium.

Aspen Heights Partners, an Austin, Texas developer, plans to build nearly 400 townhouses at the corner of South Mint and West Morehead streets. The site is located near Bank of America Stadium.

Construction began this month on a 12-story, $166 million residential tower in the shadow of Bank of America Stadium.

Developer Aspen Heights Partners plans to build 393 one- and two-bedroom townhouses and apartments with a five-story parking deck.

The large-scale site development near Interstate 277 follows a decision last year by the Charlotte City Council to rezone the nearby 55-acre Pipe and Foundry site. It paved the way for further development, including the possibility of a new stadium, as well as retail, hotels and restaurants.

An Austin-based Aspen Heights-related company recently closed on six parcels totaling about 1.4 acres around 315 W. Morehead St. The company paid $16.25 million, according to property records from the Mecklenburg county.

There are six existing buildings on the site, all of which have been vacant “for some time” and will be demolished, an Aspen Heights spokeswoman told The Charlotte Observer in an email.

The building will include a courtyard and pool on the fifth floor, according to Aspen Heights, a sky lounge with views of downtown, and the fitness center.

Leasing is expected to begin in fall 2023.

Other development near Bank of America Stadium

The site is approximately half a mile from the Carson stop of the LYNX light rail blue line.

It’s also near where Chicago developer Riverside Investment and Development plans to build a $750 million project at 1111 S. Tryon.

The Riverside project will include a 42-story glass office tower as well as two apartment towers, one 38-story and another 30-story.

This story was originally published April 21, 2022 4:47 p.m.

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Gordon Rago covers the growth and development of The Charlotte Observer. He was previously a reporter at the Virginian-Pilot in Norfolk, Va., and began his journalism career in 2013 at the Shoshone News-Press in Idaho.