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Toll Brothers Inc Breaks Ground on First Luxury Multifamily Development in North Carolina.
ByAinvest
Wednesday, Aug 6, 2025 3:04 am ET1min read
Toll Brothers Inc (TOL) has broken ground on its first luxury multifamily development in North Carolina, The Airedale. The 348-unit community in Charlotte is expected to open in fall 2026 and features upscale amenities and smart home technology. The project is a joint venture with International Capital, LLC and is financed by TD Bank. The strategic location and high-end amenities could appeal to modern renters, but the delayed opening and competitive market may pose challenges.
Toll Brothers Inc. (TOL) has initiated groundbreaking for its first luxury multifamily development in North Carolina, The Airedale. Located in Charlotte, the 348-unit community is expected to open in fall 2026. The project is a joint venture between Toll Brothers Apartment Living and International Capital, LLC, with financing provided by TD Bank.The Airedale is a three-story development featuring a mix of one-, two-, and three-bedroom floor plans. Each apartment will include luxury finishes such as quartz countertops, stainless steel appliances, and smart home technology. The community will also offer an extensive list of amenities, including a 24/7 fitness center, a clubhouse with a pool and sundeck, a pet spa, and a coworking suite.
The development is situated on a 19.75-acre site at 13607 Choate Circle in Charlotte, a vibrant area with ample dining, shopping, and outdoor recreation options. The strategic location near Interstates 77 and 485, as well as South Tryon Street, provides residents with easy access to South End, Uptown, and regional employment centers.
While the project's high-end amenities and strategic location could attract modern renters, the delayed opening and competitive market may pose challenges. Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers Inc., has a strong track record in luxury multifamily development, having been named to the National Multifamily Housing Council’s Top 25 Largest Developers list for the fifth consecutive year.
References:
[1] https://www.stocktitan.net/news/TOL/toll-brothers-apartment-living-breaks-ground-on-the-airedale-a-new-y88e9t8r52aw.html
[2] https://www.globenewswire.com/news-release/2025/08/05/3127694/0/en/Toll-Brothers-Apartment-Living-Breaks-Ground-on-The-Airedale-a-New-Luxury-Apartment-Community-in-Charlotte.html
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