Proffitt Dixon Partners has acquired the site for its newest Charlotte-area apartment community, Fountains Uptown. The $40 million six-story community will have 230 luxury apartments and offer unparalleled views of the Charlotte skyline. It’s the third community the partnership has built since 2011. Click here for 3-D animation of the project.

Located in Uptown inside the I-277 loop, the apartment community will be located near Charlotte’s largest employers including Duke Energy, Wells Fargo, Bank of America, NASCAR and Chiquita, as well as Carolinas Medical Center, the Levine Cancer Institute, Levine Children’s Hospital, Presbyterian Hospital and Central Piedmont Community College.

“Uptown is one of the most attractive submarkets in the Charlotte area,” said managing principal Wyatt Dixon. “Thousands of people come through it every day to go to work, visit the restaurants, bars and cultural venues or to see a Bobcats or Panthers game. We know that a high-quality community in such a great Uptown location near Dilworth and Midtown will be well-received.”

They chose the site for lifestyle reasons as well. The completed 3.5-mile long section of Little Sugar Creek Greenway runs right by the community. The Greenway is the centerpiece of what will be a 15-mile pedestrian and bicycle trail from Uptown to the South Carolina line. Other nearby greenspaces include Pearl Street Park and Marshall Park. The Metropolitan and Myers Park areas are also nearby.

“This is a great location in terms of being convenient to the 79,000 jobs in Uptown and to lifestyle offerings – such as the Little Sugar Creek Greenway – that are important to our target renter,” said managing principal Stuart Proffitt. “Residents can easily access the Greenway to walk their dogs, or go on a jog or bike ride. We’ll have a bicycle workshop and storage area as well.”

The pet-friendly apartments will feature 10’ ceilings throughout the community, granite countertops, stainless steel appliances, built-in microwaves, ceiling fans, linen closets, high-quality cabinets, controlled-access entry, washers and dryers, and private patios or balconies. High-speed Internet access will be available. Select apartments will have oversized garden tubs, large master closets, movable kitchen islands and computer niches.

The almost 8,000 square foot clubhouse will have a private-club-quality fitness center, Wi-Fi, an entertainment area, pet spa and a rooftop patio with unobstructed views of the Charlotte skyline. Other amenities include a signature fountain on Stonewall Street, a saltwater swimming pool, a courtyard with gas grills, a bar and fire pit.

Energy efficiency will be another advantage; the developers plan to minimize environmental impact by building it to NAHB Green specifications. They will incorporate considerations such as energy efficiency, water conservation, resource conservation and indoor environmental quality into the process.

The land transaction closed on May 15. Construction is expected to start in early fall with the first resident move-ins in 2015. The property is located at 900 East Stonewall Street, Charlotte, N.C., 28202.

Proffitt-Dixon has closed transactions valued at over $88 million since 2011. Its current communities include Fountains South End, now under construction along the Lynx light rail line, and the recently-opened Fountains at Mooresville Town Square in Mooresville, NC. The Housing Studio is providing architectural services.

The firm also recently closed the books on the disposition of three Triangle-area apartment communities. The properties were purchased for $29.25 million in 2009 and 2010 with an institutional equity partner. Proffitt Dixon made property-level improvements and increased the net operating income each year, then sold the properties in 2012 for $35.1 million.