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Funded and Flipped - The Arches

Funded and Flipped - The Arches

In this episode of Funded & Flipped, we take you inside The Arches, a stunning real estate transformation made possible with funding from LYNK Capital. Originally envisioned as an event venue, this historic church was reimagined and converted into beautiful modern condos. Join us as we walk through the property with the investor behind this incredible project. Learn about the vision, the challenges, and the funding that made it all happen. If you're a real estate investor looking for financing on your next project, LYNK Capital is here to help.

Transforming a Historic Church into Modern Luxury Condos: An Exclusive Interview

In this exclusive interview, we chatted with Mark Bolous, the visionary developer behind one of Charlotte’s most unique residential projects—converting a historic church into modern luxury condos. We explore the journey, challenges, and triumphs of bringing this stunning property to life.

From Vision to Reality

LYNK Capital: What inspired you to take on this project, and how did you envision it when you first saw the property?

Mark: This was a unique one—it was a church that we transformed into condos. Initially, in 2019, our vision wasn’t for condos at all. We planned to turn the space into an event venue, but when COVID hit in early 2020, we had to pivot. Fortunately, the property was already rezoned for residential units, so we decided to move forward with that concept instead.

The original church had lost its parking, making residential use the highest and best option. The previous owners had already laid the groundwork for rezoning about seven or eight years before our purchase, which gave us a great head start.

LYNK Capital: With a historic structure like this, were there any major structural challenges you had to address?

Mark: Thankfully, no major structural issues. The biggest challenge was reinforcing parts of the attic and roof structure, but the core of the building was solid. Essentially, what we did was build a brand-new structure inside the historic shell. The brick facade remains, but inside, everything is newly constructed from the ground up. This ensured the integrity of the units while maintaining the historic charm of the exterior.

LYNK Capital: The design and layout are incredibly striking. How did you approach integrating modern elements while preserving the historical character?

Mark: That was one of the most exciting aspects of the project. The property consists of 16 units in total, 14 of which are part of the main project, plus two additional units in the adjacent parsonage. Most units are two-bedroom, two-bath, averaging around 1,300 square feet.

We incorporated high-end finishes, including quartz countertops, stainless steel appliances, and large-format tile in the bathrooms. Some of the units boast 16-foot ceilings with original arched wood ceilings from the sanctuary. We preserved original stained glass windows, exposed brick walls, and other unique architectural elements that add character to each space.

Five of the units even have balconies overlooking the city, offering stunning views of Charlotte’s skyline, which lights up beautifully at night during special events.

LYNK Capital: Working in a historic district must have posed some restrictions. How did you navigate those regulations?

Mark: Absolutely. The historic district has strict guidelines to maintain the integrity of properties. We couldn’t simply make aesthetic changes or paint the exterior however we wanted. Elements like the stained glass windows and brickwork had to remain untouched.

That being said, there’s a balance between practicality and preservation. The district’s regulations help maintain the character of the neighborhood while also protecting property values. It ensures that owners can’t make drastic changes that disrupt the cohesive look of the area.

A Lending Partner That Made It Possible

LYNK Capital: What do you feel is most important when partnering with a lender on projects like this?

Mark: I have to give a huge shoutout to LYNK Capital. We had some challenges with our previous lender, and LYNK stepped in seamlessly. Matt Brothers and the team worked with us to provide the financing we needed, and the process was incredibly smooth. Their underwriting was efficient, and they stayed with us throughout every step of the development.

Construction projects always have challenges—coordinating with builders and subcontractors isn’t always easy—but having a lending partner that truly understands the process made a huge difference. It was a mutual benefit, and I’m looking forward to working with LYNK on future projects.

LYNK Capital: Now that the project is completed, what’s next for you?

Mark: We’re always looking for the next great opportunity. This project reinforced my passion for revitalizing historic properties, and I’d love to take on another adaptive reuse project. The goal is always to create something timeless—something that not only enhances the community but also provides long-term value to residents.

This historic church-turned-condo development is a testament to vision, adaptability, and strong partnerships. With careful planning, a commitment to preservation, and the right financing, the team successfully transformed a historic landmark into a one-of-a-kind residential space.

 
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Funded and Flipped - The Arches