Billy Packer outlines proposed housing plan

by Thomas Lark

CHARLOTTE – A proposed group of new homes will be rental units, not subsidized or Section 8 housing.

Real estate mogul Billy Packer explains his latest big plans to a roomful of people Oct. 16 at Cook’s Memorial Presbyterian Church in Charlotte. (Thomas Lark/MI Monitor photo)

That’s the word from retired college basketball color announcer Billy Packer of south Charlotte. Packer, 72, has in recent years devoted himself more to his real estate business, which he has been in for some 35 years.

On Oct. 16 at Cook’s Memorial Presbyterian Church in northwest Charlotte, Packer addressed a full fellowship hall about his latest real estate venture – 240 apartment units to be located in 10 three-story buildings of 24 units each, situated on 20 acres between Garron Point and Mount Holly-Huntersville roads in the Catawba River Plantation neighborhood.

Packer, a partner in C River, LLC, the site’s owner, stressed that the units would not be Section 8 projects, and no subsidized housing would be involved.

“I want to make that clear,” he said, adding that the apartments would “all be straight rental.”

Rent would start around $800 a month and top out at about $1,100 monthly for townhomes on the site, as Packer said. He projected that at least half the renters would eventually try to become homeowners in the surrounding neighborhoods, and thus property values would go up, not down.

Packer said he lives near Ballantyne and Morrocroft, and in the latter neighborhood, the average home costs $3 million. But these neighborhoods are flanked by less expensive apartment complexes, and he likened his own real estate proposal to this situation.

He told the audience that this 20-acre site would be their neighborhood, and they would be proud to live in it. The location, he said, was always designed to have something built on it, and he bought into this project early on.

“It was never designed to be an open piece of grass,” Packer said, adding that this would be “the worst thing that could happen to you, especially in this marketplace.”

The site would feature two entrances off Garron Point Road. There would be access availability for emergency vehicles, and only a minimal amount of trees would be cut, he said.

“We’re going to leave all that vegetation in place,” he said, noting that the site would contain a clubhouse and proper landscaping.

“I think it will go ahead and add to the look of the overall project,” he said.

Construction could begin as early as five months.

“We hope to be in a position next spring to be having activity,” Packer said.

The site would feature on-site management, full and part-time leasing agents and two full-time maintenance staffers. It will not be a gated community, said Packer. It may feature speed bumps.

The Charlotte City Council is expected to take up Packer’s real estate matter in November.

Did you like this? Share it:

Leave a Reply