Development Management Project in Charlotte Called “Best-Looking”

Posted on Mar 17 2017 - 4:45pm by Tony Gonzalez

Development Management

Historically, it hasn’t been terribly uncommon for a community to balk at a new self storage facility moving in. Not because there was aversion to the service—but instead because of the appearance of the facility. Companies began making concerted efforts to focus attention and resources to the design aesthetics. That is certainly the case with the latest project from Development Management Inc. in Charlotte, North Carolina.

The Charlotte Observer recently called artist renderings of the self storage facility the “best-looking development” in the city. The “industrial chic” Development Management project is a two-story, 120,000 square-foot building, with 98,000 square feet of storage space, including a wine cellar.

The company acquired the 3.5-acre plot of land on which they will build the facility at a bankruptcy sale last year for $1.5 million. Because of the low cost of the land, the company hopes to offer significantly lower rental rates than the nearby competition.

Though the building will be two stories, Development Management doesn’t intent to add stairwells or elevators—which will cut down on construction costs. The building design allows for a front entrance at the level of the first floor, and a back entrance directly into the second floor.

“With this rare investment opportunity, we will introduce a modern self-storage facility in Charlotte’s South End, one of the nation’s hottest submarkets for multifamily development, while providing highly competitive rates to our customers,” said Ivon Rohrer III, vice president of Development Management, to the Charlotte Observer.

Construction on the facility is slated for completion in 2018. When complete, it will be the sixth self storage facility developed by Development Management in Charlotte and its ninth across North and South Carolina.