Twelve03 at Centre South Under Construction in Charlotte

Eight building permits, each valued at $7,791,995, were issued for Twelve03 at Centre South, a 329-unit apartment project at 1203 S. Caldwell St. The six-story building is developed by The Fallon Company. Construction began June 24, 2026.

Twelve03 is the first phase of Centre South, a long-planned development. The public-private partnership includes The Fallon Company, Inlivian (formerly the Charlotte Housing Authority), and Horizon Development Properties. The $100.5 million financing package includes a senior construction loan from TD Bank and equity, arranged by JLL Capital Markets.

Of the 329 units, 66 (20 percent) are reserved as affordable and workforce housing. Amenities include a sky lounge with Uptown views and a rooftop pool.

The $500 million Centre South build-out calls for three multifamily buildings.