In November, well-known homebuilder Saussy Burbank announced that they would be building 43 new homes in the Cherry neighborhood near Uptown Charlotte.

Saussy Burbank has made a name for itself by constructing unique middle- to upper-middle-class subdivisions in the Southeast, and this new development plans to run along the same lines, with home prices reaching up to $600,000 and ranging in size from 2,900 to 3,500 square feet. You can even view a few of the available home plans on the Saussy Burbank website.

These new homes in Cherry are just one more addition to Saussy Burbank’s list of high-end homes in the Charlotte area. The homebuilder is also responsible for some of the homes in Baxter Village, Blakeney Greens, Dilworth, Myers Park, Sedgefield and South Park.

Unfortunately, this new housing development project is drawing considerable concern from the working-class residents in the Cherry community. Due to its prime location between Myers Park and the Metropolitan complex, this area has peaked the interest of real estate investors and developers. There is much talk about how the land was obtained and what is being done to accommodate displaced residents. We just hope to see some resolution on the situation that benefits both the residents of the current Cherry neighborhood and the Charlotte housing market.

We have talked a lot lately about the apartment construction boom in Charlotte, and that still remains the same. New apartment developments outnumber the amount of single-family homes being built in the Uptown Charlotte area. However, this new subdivision on the horizon does put another notch in the belt of homebuilders that are looking for residents who are more interested in buying than renting.

While this new luxury housing development coming to the Cherry neighborhood likely will not appeal to the influx of young millennials coming to the Charlotte area, this does provide a fantastic option for more established professionals and families who are looking to take advantage of the perks of buying a home near Uptown Charlotte right now, including the low interest rates.

The future remains to be seen with Saussy Burbank’s new project in Cherry, but we look forward to seeing it develop.