A Texas-based developer plans 221 rental homes on a former Harris Teeter site near the Stallings-Weddington border. The project on Matthews Weddington Road would also include 10,000 square feet of commercial space.
HMF Americana paid $6.7 million on Tuesday, Sept. 1, for 18.2 acres at the site, according to Union County property records cited by the Charlotte Business Journal. The company had already purchased an adjacent 19 acres for $1 million in March.
The development, called Boardwalk Village Stallings, will sit just south of the Matthews Weddington Road and Chestnut Lane intersection, the Charlotte Business Journal reported. Charlotte Media Group reported Monday, Sept. 7, that site work is expected to begin in October, with vertical construction starting in the first quarter of 2027 and resident move-ins beginning in the third quarter of 2027.
The mixed-use project will include cottage-style rental homes, a portion reserved for residents 55 and older, and multi-tenant commercial space with room for future expansion. HMF Americana calls the model its "Cottage Green" concept, blending build-to-rent housing with shared neighborhood spaces.
"Stallings continues to grow, Weddington is one of the area's most desirable communities and this location allows us to bring additional housing and commercial options to an area where we see significant long-term opportunity," Frank Warren, HMF Americana's regional director for the Southeast, said in a statement reported by Charlotte Media Group.
Dowell Finch of Charlotte-based New South Properties is leading commercial leasing for the project. The leasing effort will focus on attracting businesses that complement the surrounding community, according to Charlotte Media Group.
HMF Americana is active beyond the Charlotte region. The company secured $113.5 million in construction financing in late August for two build-to-rent communities totaling 575 units near Houston and Greenville, S.C., Multi-Housing News reported.
Zoning approvals and building permits for the Stallings site have not been confirmed in available public records. HMF Americana is pursuing additional land opportunities across the Charlotte region, according to Charlotte Media Group. Site work at Boardwalk Village Stallings is expected to begin in October, with the first residents moving in by the third quarter of 2027.
