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Core Vacancy Tightens While New Supply
and Job Access Divide Outer Suburbs
Life sciences bolster infill demand. As job growth and in-migration moderate, Charlotte’s apartment recovery should favor close-in submarkets where deliveries are receding and demand remains tied to core job nodes. Uptown-South End and nearby Myers Park posted the market’s sharpest vacancy declines over the year ended in March, each falling by at least 70 basis points. The Pearl, a life sciences innovation district in Midtown, will add another tailwind after Phase 1 opened last year. Anchored by the metro’s first four-year medical school, an expansion by Wake Forest University, the district is projected to create more than 5,500 on-site jobs and reinforce longer-term renter demand.