FORT WASHINGTON, PA — Toll Brothers, Inc. (NYSE: TOL), through its Toll Brothers Apartment Living® division, has announced a joint venture with International Capital, LLC to develop The Airedale, a 348-unit luxury multifamily rental community in Charlotte, North Carolina. The project is supported by a $56.8 million construction loan facility from TD Bank, with financing arranged by Toll Brothers’ in-house team.
The Airedale will include one-, two-, and three-bedroom apartment homes featuring quartz countertops, stainless steel appliances, soft-close cabinetry, under-cabinet lighting, modular closets, and smart home technology. Planned amenities include a resort-style pool and sun deck with cabanas, an indoor/outdoor fitness center, a pet spa and half-acre pet park, coworking spaces, a clubroom with private dining, and a grab-and-go mini market.
“The Airedale represents a milestone for Toll Brothers Apartment Living as we expand into North Carolina and underscores our commitment to delivering exceptional luxury multifamily communities in high-growth markets,” said John McCullough, President of Toll Brothers Apartment Living. “We are excited to bring a best-in-class living experience to South Charlotte with thoughtfully designed apartment homes and upscale amenities.”
Located at 13607 Choate Circle in the Steele Creek area, The Airedale offers quick access to I-77, I-485, South Tryon Street, and Charlotte Douglas International Airport. Nearby amenities include the Walker Branch Greenway, several grocery stores such as Sprouts Farmers Market and Publix, and retail destinations like RiverGate Shopping Center.
“International Capital is thrilled to begin development on The Airedale, sparking our first partnership with Toll Brothers Apartment Living. We have been searching for the right partner, location, and timing for our entrance into the Charlotte market and believe The Airedale checks all the boxes,” said Andrew Doster, Vice President of Investments for International Capital. “Toll Brothers Apartment Living’s focus on design, quality, and incorporating the local culture into the project will set The Airedale apart in this affluent area of South Charlotte. We’d like to thank the entire Toll Brothers Apartment Living team and our lending partner, TD Bank, for such a smooth and flawless closing process.”
The Airedale is designed to cater to professionals and families seeking luxury living in a thriving, well-connected area, reinforcing Toll Brothers’ ongoing expansion into fast-growing urban markets.
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