Global real estate investment manager AEW Capital Management, L.P. (AEW) has completed the acquisition of a development site in Charlotte, North Carolina.

The site will house ANOVA The Pearl, a 20-story mixed-use tower planned for the city’s rapidly expanding innovation precinct. The scheme is being brought forward in partnership with real estate firms GMH Communities and Wexford Science & Technology. Construction plans target an official opening for residents in Summer 2028.

Located at the junction of South McDowell Street and Pearl Park Way, the high-rise will sit at the centre of The Pearl Innovation District. The wider precinct is anchored by the Wake Forest University School of Medicine and Atrium Health alongside a dynamic community of educational, research and technology institutions.

Plans for ANOVA The Pearl comprise 382 luxury residential apartments alongside 6,621 square feet of retail space on the ground floor. In line with local planning commitments, 5% of the total apartment count will be designated as affordable housing.

Future occupants will have access to a wide selection of leisure and wellness facilities on site. The proposed amenity package features a dedicated clubhouse, a fully equipped fitness centre, a golf simulator, a sauna and cryotherapy chambers.

The inclusion of residential property aims to provide urban housing within walking distance of major corporate, medical and educational employers across the district.

“We are attracted to locations that we believe benefit from strong institutional anchors and create opportunities for residents to live near major centers of employment and innovation,” said Sara Cassidy, Portfolio Manager at AEW Capital Management. “ANOVA The Pearl reflects these characteristics and represents a residential development within a unique and evolving district in Charlotte.”

The Pearl district continues to grow as an integrated hub combining healthcare services, scientific research, higher education and technology firms.