Crosland Southeast delivers affordable-housing development in Ballantyne

August 7, 2026 - 23:12

A new 60-unit affordable housing community is now open in Charlotte's Ballantyne area, marking a significant step for workforce housing in one of the city's more expensive neighborhoods. Crosland Southeast, working alongside Horizon Development, finished the project with backing from the city of Charlotte, LISC Charlotte, and Truist Financial.

The development targets households earning between 30 and 60 percent of the area median income, offering a mix of one, two, and three bedroom apartments. Rents are set to stay well below market rates for the Ballantyne corridor, where new construction has historically leaned toward luxury units.

City officials say the project fills a clear gap, as Ballantyne has seen strong job growth but limited options for teachers, nurses, retail staff, and other essential workers. The financing structure combined public funds, private investment, and philanthropic support, with Truist providing the construction loan and permanent financing through low-income housing tax credits.

LISC Charlotte helped coordinate community engagement and supportive services for residents, including financial coaching and after-school programming. The property includes a clubhouse, playground, and walking paths, and sits close to major employment centers and transit routes.

Crosland Southeast noted that the project faced rising material costs and supply chain delays, but the partners kept the timeline on track. The company says it plans to pursue similar developments in other high-demand Charlotte submarkets. The opening adds to a broader push by local leaders to add more than 5,000 affordable units across the city over the next several years.