$235 million project near Dilworth begins construction. One tower will rise to 26 stories.

Construction is underway on what will become the tallest residential tower near Dilworth, a $235- million project that likely will rank among the biggest multifamily projects in Charlotte’s urban core.

Radius Dilworth will feature two apartment buildings at 615 E. Morehead St.: A 26-story tower called Overlook that will have 5,000 square feet of ground floor retail and a second, eight-story building called the Enclave. Overlook will have 352 apartments; Enclave will have 274.

The Enclave will sit on the back portion of the site, closer to Interstate 277.

A pair of New York-based firms, Spandrel Development Partners and Atalaya Capital Management, are behind the project, which is the latest development planned in the fast-changing area near Dilworth.

Just next door, construction is well underway on the Village on Morehead. That project is expected to be complete by spring 2023 and will feature around 200 senior housing units.

Hanover Company, a Houston-based developer, won approval two years ago for its rezoning to build up to 350 multifamily homes across Euclid Avenue from Spandrel’s site, The Charlotte Observer has reported.

Also nearby is the site for Atrium Health’s new $1.5 billion “innovation district” that will lead to the creation of a medical school, hotel, residential tower, offices and retail. Construction of The Pearl is expected to start by the summer.

Towers to have prime views of Charlotte

There will be an average of 300 workers on the site per day, said Emanuel Neuman, Spandrel’s co-founder. Radius Dilworth could be attractive to students and employees of the future medical school, Neuman said.

He also said the proximity to uptown, South End and Midtown plus the tree-lined streets and large, single-family homes of Dilworth, will attract future residents “looking for convenient living.”

The site will be able to accommodate at least two retailers in the Overlook building, but the developers haven’t brought the commercial side of the project to market yet. A sky bridge will connect the two buildings because parking will be located in the Overlook building, Neuman said.

Each building will have a pool, gym, co-working space and sky lounge with views of uptown and the more residential side of town in Dilworth.

“Any way you look, you have an ‘A’ view,” Neuman said.

There will be over 40,000 square feet of amenity space across the buildings, Neuman said. The apartments will include studios, one bedrooms, two bedrooms and three bedrooms.

Overlook will be done in late 2024. The Enclave building is expected to be done by early 2024.

Overlook will have a 13-story parking deck with the first seven floors wrapped with apartments.