Charlotte, NC – Flournoy Development Group (FDG), in partnership with Keihanshin Building (Osaka, Japan) and The Japan Overseas Infrastructure Investment Corporation (Tokyo, Japan), has acquired a 30.7-acre development site for Declan Research Park, a new multifamily community located in Charlotte, North Carolina’s University Research Park. Flournoy has also acquired a second future development site. The project will be developed in two phases and will bring a total of 561 units, including apartment and townhome residences, to Charlotte’s growing University submarket. Rob Cochran and Bill Harrison with Cushman Wakefield represented the land sellers in the transaction.

Phase I will include 318 apartment homes, with first unit deliveries expected in 2027. A future Phase II is planned to add up to 243 additional apartments and 16 townhomes across the remaining 21 acres. Phase I of the development will be constructed by Harkins Builders, with architecture by Cline, civil engineering by LandDesign, Inc. and will be professionally managed by Flournoy Properties Group.

Declan residents will enjoy a collection of thoughtfully designed amenities intended to support both connection and everyday convenience. The community will feature a resort-style pool deck with inviting outdoor gathering areas, a modern fitness studio equipped for both cardio, wellness and strength training, and comfortable resident lounges designed for socializing or unwinding. Dedicated coworking spaces will provide flexible options for remote work, while a convenient grab-and-go market will offer quick access to everyday essentials. The community will also include a dog park and pet spa, creating a welcoming environment for residents and their pets.

The community sits within Charlotte’s University submarket, one of the region’s most active employment centers and home to more than 30,000 employees. Major employers nearby include Electrolux, IBM, Duke Energy, Wells Fargo, Allstate, TIAA, and Vanguard Group. Declan Research Park will be located directly across from Vanguard’s recently opened regional campus, which welcomed more than 2,500 employees in 2025.

The location offers convenient connectivity throughout the Charlotte region. The site is 1.2 miles from I-85 and 2.8 miles from I-485, providing easy access to Uptown Charlotte and surrounding submarkets. The community is also 3.0 miles from the University of North Carolina at Charlotte, which enrolls approximately 30,000 students, and 3.2 miles from the JW Clay light rail station, connecting residents to Uptown, South End, and Lower South End via the Blue Line. Daily conveniences and retail destinations are also close by, including Trader Joe’s, Harris Teeter, and The Shoppes at University Place.

“Declan Research Park represents the next step in FDG’s continued investment in the Charlotte market and its commitment to delivering thoughtfully designed communities in high-growth locations,” said Ryan Foster, Sr. Vice President of Development at Flournoy Development Group. “Following the success of Ellison Mallard Creek just 1.5 miles from the project, we’re excited to continue investing in this part of the city with a community designed for how people want to live today.”

Declan Research Park is designed to meet growing demand for high-quality rental housing in the University submarket while offering a mid-market alternative to traditional luxury apartments. Residences will feature upgraded finishes such as quartz countertops, tile-surround showers, modern plumbing fixtures, and smart door locks, delivering a refined living experience at a competitive price point.

About Flournoy Development Group
Founded in 1967, Flournoy is a residential real estate firm headquartered in Columbus, Georgia, specializing in the development and management of high-quality multifamily, active-adult, and build-to-rent communities across the Southeast, Mid-Atlantic, and Southwest. Through Flournoy Development Group (FDG) and Flournoy Properties Group (FPG), the firm has developed and managed more than 49,000 residential units nationwide. The firm currently has $1.8 billion AUM. Flournoy is a wholly owned subsidiary of Kajima USA. Learn more at flournoycompanies.com.