Twelve03 at Centre South secures $100.5M in construction financing and equity

CHARLOTTE, April 30, 2026 –  JLL Capital Markets announced today that it has secured a senior construction loan and equity capital for Twelve03 at Centre South, a 329-unit mixed-income multifamily development in Charlotte, North Carolina.

JLL worked on behalf of the developer, The Fallon Company, in arranging the construction financing through TD and the equity placement from RXR Realty Investments.

Twelve03 sits at 1203 S. Caldwell St., where South End meets Dilworth and Uptown, three of Charlotte’s most dynamic and established neighborhoods. Residents will be within walking distance of the Bland Street light rail station and near convenient access to Interstate 77. The site is ideally positioned alongside The Pearl, Charlotte’s Innovation District anchored by Wake Forest University School of Medicine.

South End continues to attract a diverse mix of employers, residents and investment, driven by its urban fabric, transit connectivity and proximity to Uptown. The neighborhood’s walkability, lifestyle amenities and employment centers support sustained demand for high‑quality multifamily housing and reinforce Twelve03’s appeal within the broader Charlotte market.

Led by The Fallon Company in partnership with Inlivian, Twelve03 is the first phase of Centre South, a 16.7-acre mixed-use development. When complete, the project will include up to 975 apartments, 405,000 square feet of office space, 36,000 square feet of retail, a 180-room hotel and a 1.5-acre green space. Importantly, 20% of the project’s residential units will be deed-restricted affordable housing, adding much-needed inventory to the Charlotte market. 

Twelve03 is a six-story building that features 329 units: 263 market-rate and 66 affordable units. Amenities include a sky lounge with Uptown views, a rooftop saltwater pool, co-working spaces, pet spa and a fitness center.

JLL Capital Market’s Debt Advisory team was led by Managing Director Taylor Allison, Senior Director Alexis Kaiser and Associate Ryan Mueller.

“Twelve03 represents a rare opportunity to deliver a differentiated product at one of Charlotte’s most irreplaceable locations,” said Allison. “The Fallon Company’s track record in large-scale mixed-use development, combined with the supply-constrained dynamics of South End and the transformative impact of The Pearl next door, made this an exceptionally compelling story for both the equity and debt markets.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

The Fallon Company is one of the nation’s leading commercial real estate developers, creating transformative, mixed-use environments that revitalize urban areas and serve as catalysts for community growth. Founded in Boston in 1993 by Joseph F. Fallon, the company has developed over $6 billion in real estate representing more than six million square feet, with offices in Boston, Charlotte and Nashville. For further information, visit falloncompany.com.

TD Bank U.S. is a leading U.S. bank with more than 10 million clients and a network of approximately 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Carolinas and Florida. We support our clients and communities with a full range of retail, small business and commercial banking products and services. We also offer customized private banking and wealth management services, a comprehensive suite of credit card products for consumers and businesses and automotive vehicle financing and dealer commercial services.

TD Bank U.S. is one of the 10 largest banks in the U.S. by assets and is headquartered in Mount Laurel, N.J. To learn more, visit www.td.com/us.

TD Bank U.S. is a subsidiary of The Toronto-Dominion Bank, the sixth largest bank in North America by assets. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD."

RXR is an innovative real estate investment manager, operator, developer, and place-maker committed to applying a customer and community-centered approach to acquiring, operating, and building properties and to providing services and products that create enduring value for all stakeholders. Headquartered in New York with a nationally-scaled platform, RXR is an approximately 450 person, vertically integrated investment manager with expertise in a wide array of value creation activities, including acquisitions, asset and portfolio management, property operations, development, construction, leasing, and technological innovation. RXR is an active investor in real estate credit, rental housing, commercial property, and property technology through value-added and opportunistic investment strategies. The RXR platform manages 108 commercial real estate properties and investments with an aggregate gross asset value of approximately $16.4 billion, comprising approximately 30.9 million square feet of commercial properties, a multi-family residential portfolio of approximately 9,400 units under operation or development, and control of development rights for an additional approximately 3,000 multi-family and for sale units as of September 30, 2025. Gross asset value compiled by RXR in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.