As part of an overall plan for developing and acquiring properties with a market value exceeding $4 billion by 2020, Indianapolis-based developer Milhaus is expanding into the Charlotte area, and throughout the Carolinas market. This growth comes as no surprise as Charlotte continues to see a rise in their population growth, companies like Milhaus are coming in to help support this. In fact, the U.S. Census Bureau reported that two-thirds of growth in North Carolina’s population took place in Charlotte and the Triangle.
Milhaus identified Charlotte as an extremely desirable market for expansion due to many factors, including the region’s strong job growth and high demand for multifamily and mixed-use properties in urban neighborhoods. They’ll focus their Charlotte properties to be urban and walkable.
Milhaus currently have a site under contract in Asheville, North Carolina and they’re eyeing markets all over the Carolinas.
Their newest hire, Rachel Russell, will be based in Charlotte. She’ll be responsible for managing the development lifecycle of each project in this new market, including land acquisition, financial analysis, market research, product visioning, construction management and transitioning to operations.
Prior to joining the company, she served as vice president, real estate development at Charlotte, North Carolina-based multifamily and mixed-use developer Grubb Properties. She brings extensive multifamily and mixed-use property development experience in the Carolinas to her new role at Milhaus.
“Milhaus shares my passion for designing thoughtful urban core properties that enhance the livability and vibrancy of its neighborhoods,” said Russell. “The company fills a unique need in urban housing by developing both small and large scale properties, and I look forward to bringing our mission of creating high-quality, timeless multifamily and mixed-use properties to Charlotte.”
For more information on Milhaus, visit www.milhaus.com.