Walton Global Sells 57-Acre Parcel for Residential Development Outside Charlotte
Phase one of Sanctuary at Southgate sold as part of the Southgate master planned community.
SCOTTSDALE, Ariz. (OCT. 11, 2023) – Walton Global, a leading asset management and global real estate investment company, announces the successful sale of Sanctuary at Southgate, a 57-acre parcel located within the Southgate master planned community in the town of Indian Trail, North Carolina, just outside of Charlotte. Sold to homebuilder D.R. Horton, phase one of Sanctuary at Southgate includes 115 lots zoned for residential development. At full buildout, the property is expected to include 231 single-family homes and 52 townhomes for a total of 283 homes. Within the greater master plan, an additional 240 multifamily units and commercial use is planned for the future.
“We are pleased to announce the sale of the Sanctuary at Southgate property to D.R. Horton,” said Michael Slavotinek, Vice President of Asset Management for Walton Global. “This parcel is positioned in an opportune, growing corridor near Charlotte, with incredible untapped potential. The development of this land supports our commitment to building long lasting communities that meet the needs of the growing population in the area.”
Jim McKinney, City Manager for D.R. Horton’s Charlotte South division, said, “We are excited to have closed on our first site with the Walton Group in the greater Charlotte area and are looking forward to the success of the community, as well as future communities that we are working on together.”
Located at Poplin Road and North Rocky River Road, the community is conveniently situated within 2 miles of highly desirable schooling options and just 27 miles from the Charlotte Douglas Airport. The Southgate master planned community is within five miles of Interstate 485, providing easy access to Charlotte and is expected to benefit from the new Monroe Bypass which will run less than two miles west of the property. The new master planned community will offer pedestrian inter-connectivity between village components, as well as a 90,000 square foot commercial center with opportunities for retail and other commercial mixed-use purposes.
Plans for the first phase of 115 lots include a mix of 60 foot and 70 foot lots with single-family homes from our Traditions SeriesSM. Each lineup is expected to include both 2-story and ranch offerings with prices projected to start from the high-$400s to mid-$500s.
The Charlotte metropolitan area is the largest in the Carolinas and was ranked fifth for population growth in 2022. The region has become increasingly popular due to its perfect blend of charm, modern urban amenities and close driving distance to nature. According to Walton Global’s Q2 Regional Market Report, Charlotte had 28,000 jobs added in Q2 and now ranks sixth for the fastest growing large metro regions in the U.S.
Walton Global currently manages over 8,000 acres in the North Carolina and South Carolina region. This includes approximately 2,200 acres in North Carolina and 5,900 acres in South Carolina. Walton continues to seek out opportunities to work with homebuilders and developers to create sustainable communities that stand the test of time and support the regional population growth.