A developer that focuses on master-planned residential projects appears primed to add to its Charlotte-area portfolio.
On July 11, Kannapolis City Council approved a development agreement and sewer allocation for an entity affiliated with Suncrest Real Estate & Land. City documents show that the Arizona-based developer plans to build 329 home lots on a 106.2-acre site in Kannapolis. The project site is off West 21st Street in the Rowan County portion of Kannapolis.
The development agreement shows the project would be built out across three phases over the course of several years. The first phase would allow 100 housing units, followed by up to 125 each in the final two phases. Kannapolis, like Concord, enacted a sewer allocation policy last year to combat capacity constraints in the area. Phasing large residential projects has been discussed as a plan to alleviate sewer capacity impacts.
The approved development agreement was between the city and Baker’s Creek Development LLC, which is affiliated with Suncrest. Baker’s Creek Development appears to be a nod to the name of the project, which is near Baker’s Creek Park.
The Kannapolis project would add to Suncrest’s steadily growing portfolio in the Charlotte area.
Earlier this year, the Charlotte Business Journal reported that Suncrest was seeking approvals for a large residential project in Gaston County with nearly 900 residential units. The developer initially entered the Charlotte market in 2019 when it began working on its Nolen Farm development, which is also in Gaston County and calls for hundreds of homes.
According to its website, Suncrest’s portfolio includes projects in North Carolina, Tennessee, Texas and Arizona. The developer is headquartered in Phoenix.