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Mooresville north carolina 44 5m

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$46.3M

Mooresville, North Carolina

February 19, 2025

Loans

DLP Capital Announces $46.3 Million Loan to Falcone Group for the Development of Lumara Norman Village

DLP Capital is proud to extend $46.3MM in financing to Boca Raton, FL-based developer Falcone Group. The sponsor will use the acquisition and horizontal construction loan to develop Lumara Norman Village, an 86.27-acre, two-parcel land assemblage located in the Lake Norman corridor of Mooresville, NC.

Horizontal improvements—including engineering, permitting, entry signage, and amenities—are already underway to prepare the site for vertical construction. Initial lot deliveries are targeted for Q3 2025. Once complete, the development will bring 255 single-family residences to the Mooresville market, providing critically needed, attainable workforce housing to the state and country’s fastest-growing suburb.

 

A Strategically Located Project

Lumara Norman Village represents a rare development opportunity within one of Charlotte’s most dynamic submarkets. Located alongside Highway 115 and Highway 21 and situated just a stone’s throw away from I-77, the community is 30 minutes from downtown Charlotte, 10 minutes from downtown Mooresville, and 5 minutes from Lake Norman—the state’s largest man-made body of water. This prime location will give working families who call Lumara Norman Village home the freedom and flexibility to work, play, live, and explore.

Proximity to Amenities

Future residents will enjoy convenient access to a wide range of local amenities:

  • Restaurants: Nearby establishments include Olive Garden, Longhorn Steakhouse, Chick-fil-A, Field of Greens, McDonald’s, Wendy’s, China Express, and Jimmy John’s.
  • Groceries: Supermarkets in close proximity include Publix, Costco Wholesale, Harris Teeter, Walmart, Aldi, and Food Lion.
  • Schools: Public schools in the vicinity include South Elementary School, Mooresville Middle School, and Mooresville Senior High School.
  • Entertainment: Close by are Lake Norman, Fearless Entertainment Park, Josh’s Farmers Market, and the North Carolina Auto Racing Hall of Fame.

About Falcone Group

DLP Capital is proud to partner with Falcone Group, a nationally recognized real estate investment and development firm with over 40 years of operating history.

Headquartered in South Florida, Falcone has delivered transformative projects nationwide. Its diverse portfolio spans multifamily housing, mixed-use communities, hospitality, and commercial developments in Florida, North Carolina, Texas, California, and beyond.

Led by Founder, CEO, chairman, and namesake Art Falcone, the firm is known for its strategic focus on revitalizing underutilized land and delivering vibrant, high-impact, and attainable communities for residents, guests, and neighbors alike.

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