NEWSTAR Unveils New Single-Family Rental Community in Charlotte Area

NEWSTAR's Exciting New Development in Charlotte

NEWSTAR has made a significant stride in the Charlotte housing sector by acquiring a nine-acre plot on Pleasant Grove Road, located in Northwest Charlotte. The company has initiated the development of a brand-new single-family rental neighborhood, which will consist of 58 homes designed to offer a blend of comfort and contemporary style.

The two-story homes in this new community will feature 100% end units, accompanied by one-car garages. The layout will include both front- and rear-loaded home designs, catering to a variety of lifestyle preferences. Each home will feature market-leading interior finishes, with Hardiplank facades complemented by elegant brick accents, creating a visually appealing exterior.

Inside, these homes will showcase high-quality materials such as Stone Plastic Composite (SPC) flooring throughout, facilitating durability and a modern aesthetic. The kitchens will be equipped with quartz countertops, stainless steel appliances, and soft-close cabinetry. Additional amenities include walk-in showers, framed mirrors, and exclusive sodded and fenced-in yards for every unit—adding a touch of luxury and comfort for residents.

To bring this project to fruition, NEWSTAR is collaborating with Red Cedar Homes, a partnership designed to enhance the development's quality and efficiency. Boone DuPree, Chief Executive Officer of NEWSTAR, expressed enthusiasm about adding this neighborhood to the company's growing portfolio under their Stella Homes brand. Currently, the Stella Homes portfolio boasts over 1,300 homes that span completed and operational communities, those under construction, and projects in pre-development phases.

Financing for the construction has been arranged through Patterson Real Estate Advisory Group, with Hancock Whitney Bank serving as the construction lender. This partnership underscores the financial and strategic backing that supports the ambitious development plans.

Site clearing and groundwork for the project are anticipated to commence in the third quarter of 2025, with the first homes ready for occupancy by Summer 2026. This timeline promises to provide prospective residents with modern, well-designed rental options in a burgeoning Charlotte neighborhood.

The inception of this rental community reflects NEWSTAR's commitment to addressing the housing demands in Charlotte, highlighting the increasing need for quality rental homes in growing urban areas. As more families seek rental options with upscale amenities, developments like this will play a pivotal role in providing suitable accommodations.

For further inquiries about the project and its offerings, potential renters and interested parties are encouraged to reach out via the official communication channels. NEWSTAR continues to evolve in the real estate landscape, bringing new opportunities for living spaces tailored to modern lifestyles.

This article covers NEWSTAR's new initiative and its implications for the Charlotte rental market, signifying a robust response to regional housing needs.