Frequently Asked Questions

Spotted us from the greenway? Curious about a listing? We believe in total transparency. Below are honest answers to the questions prospective residents — and current ones — ask most.

Where exactly is Franciscan Terrace, and what's nearby?

• Where is Franciscan Terrace located?

  We're at 4751 Hedgemore Dr, Charlotte, NC 28209 — at the quiet end of Hedgemore Dr, tucked alongside the Little Sugar Creek Greenway with no through traffic. The address puts you minutes from Uptown, South End, and the Dilworth/Montford corridor.

• Is the greenway access really that convenient?

  It's genuinely one of the most loved features of the community. Franciscan Terrace has a private, keyed entry and exit directly onto the Little Sugar Creek Greenway — resident access only. No driving to a trailhead, no parking. You walk out your building door, use your key, and you're on the trail. The greenway connects to Freedom Park, Uptown, and miles of paved trail in both directions.

  The City of Charlotte acquired a small sliver of land at the edge of the property years ago to extend the greenway corridor.

• How walkable is the neighborhood?

  Very. The Montford District — home to some of Charlotte's most popular restaurants, bars, and local shops — is an easy walk from our front gate. South End, Park Road Shopping Center, and Freedom Park are all within comfortable biking distance via the greenway.

  The 28209 zip code consistently ranks among Charlotte's most walkable for a reason: proximity to the trails, Montford, and the broader south Charlotte amenity belt without the South End price tag.

• What's the vibe of the community?

  Established and neighborly. Long-term residents who've been here for decades sit alongside newer owners who discovered us through the greenway or a friend. The community tends to attract people who value outdoor access, walkability, and a quieter setting without giving up proximity to the city.

  There's an active community Facebook group, and a volunteer board that genuinely cares — we hold monthly meetings, are actively investing in the grounds and common areas, and are committed to protecting property values for the long term.

• What schools serve Franciscan Terrace?

  Franciscan Terrace falls within the Charlotte-Mecklenburg Schools (CMS) district. Based on current attendance boundaries:

  Selwyn Elementary — Grades K–5 · approx. 0.8 mi
  Alexander Graham Middle School — Grades 6–8 · approx. 0.9 mi
  Myers Park High School — Grades 9–12 · approx. 1.0 mi

  School assignments are subject to change. Verify current attendance boundaries with Charlotte-Mecklenburg Schools at cms.k12.nc.us.

What are the units like?

• What unit sizes and layouts are available?

  Franciscan Terrace has three floor plans across its seven buildings:

  1 Bedroom / 1 Bathroom — approximately 700 sq ft (16 units)
  2 Bedroom / 2 Bathroom — approximately 1,076 sq ft (90 units, the most common)
  3 Bedroom / 2 Bathroom — approximately 1,300 sq ft (20 units)

  The 1969 construction means solid bones and generous room proportions that feel more like a home than a modern micro-unit. Many owners have updated kitchens, baths, and finishes — so interiors vary considerably by unit.

• What have condos been selling for recently?

  Recent sales have varied by unit size and renovation level. As a general reference from recent comparable sales:

  3-bedroom units have sold in the $290,000–$338,000 range
  2-bedroom units have transacted in the $215,000–$295,000 range
  1-bedroom units have started around $150,000–$197,000

  For current listings and up-to-date pricing, search for "Hedgemore Dr Charlotte NC 28209" on Zillow or Realtor.com, or work with a local Charlotte real estate agent — units here don't sit long when listed at the right price.

• Are pets allowed?

  Yes — Franciscan Terrace is a pet-friendly community. With direct greenway access right from the neighborhood, it's a particularly great place for dog owners. Please review the community Rules & Regulations (available through the Red Rock resident portal) for specific guidelines on leashes, waste cleanup, and any size or breed considerations.

What does the HOA cover, and what does it cost?

• What does the monthly HOA fee cover?

  More than most people expect. Your monthly assessment covers the full operating cost of the community — including items that would otherwise land as separate monthly bills:

  Water & sewer — paid directly to the City of Charlotte on behalf of every resident, meaning no separate water bill. Trash & sanitation. Electricity for all common areas. Gas via Piedmont Natural Gas for shared building systems. Landscaping and grounds upkeep across 7.5 acres. Pool and clubhouse operations. Repairs and maintenance across all seven buildings. Professional property management through Red Rock Management. Master insurance covering building structures and all common areas.

  And critically: a substantial portion of every assessment goes directly to the reserve fund — the community's long-term capital savings account. A well-funded reserve is what keeps surprise special assessments off the table.

• What are the monthly HOA dues?

  Monthly assessments vary by unit size:

  1 Bedroom / 1 Bathroom — $253.72/month
  2 Bedroom / 2 Bathroom — $337.90/month
  3 Bedroom / 2 Bathroom — $395.19/month

  Dues are paid through the Red Rock resident portal. For questions about your account or payment setup, contact Red Rock Management directly.

• What are owners responsible for themselves?

  Owners cover the interior of their unit — appliances, fixtures, and personal property. On utilities: electricity to your unit and internet and cable/TV are the two bills residents pay directly. Units use electric heat and AC — there is no gas service to individual units. Each owner is also required to carry an HO-6 homeowner's insurance policy covering unit interior and belongings. The HOA's master policy covers building structures and all common areas.

• Is there a reserve fund? Is the HOA financially healthy?

  Yes — Franciscan Terrace maintains an active reserve fund with a reserve study on file from 2019, conducted to assess long-term capital needs and guide responsible planning. The board monitors reserve adequacy and is actively investing in the property — including a multi-year roof replacement program across all seven buildings currently underway.

  For detailed financial information, current and prospective owners can access budget documents and reserve studies through the Red Rock resident portal.

• Can I rent out my unit?

  Franciscan Terrace has a 15% rental cap, established by a 2012 amendment to the community Declaration. This means no more than approximately 19 of the 126 units can be rented at any time — the community is currently right around that threshold, with roughly 18 units rented as of 2026.

  Units renting prior to the 2012 amendment were grandfathered in — but grandfathered status does not transfer on sale. When a grandfathered unit sells, it becomes an owner-occupied-only unit going forward.

  The rental cap is a positive for buyers: it protects owner-occupancy rates, community stability, and resale value — and is often required for conventional mortgage financing.

• Is this community FHA-approved?

  FHA condo approval status affects mortgage eligibility for individual buyers. Whether Franciscan Terrace holds current HUD condo project approval — and the specific status — is something you'll need to confirm with your lender or real estate agent, as it can change and varies by loan program.

  Your lender can search HUD's approved condominium database directly. A local Charlotte real estate agent familiar with this community can also help you navigate financing options for a specific unit.

What's it like to actually live here?

• Tell me about the pool.

  Our pool is a full-size, 10-foot-deep pool that gets excellent sun throughout the day — south-facing, which is a genuine rarity for a community pool. It's open each summer and available exclusively to Franciscan Terrace residents. There's nothing quite like walking out your building door and jumping into a pool that's actually worth swimming in.

• Is there a clubhouse?

  Yes — we have a community clubhouse at 4751 Hedgemore Dr, available to residents for gatherings and events. Shared laundry facilities are also located beneath the clubhouse for residents whose units don't have in-unit washer/dryer connections. Contact Red Rock Management for details on clubhouse availability and reservations.

• Is parking assigned?

  No — Franciscan Terrace has open parking throughout the community with no assigned spaces. It's first come, first served.

• How is the community managed?

  Day-to-day operations are handled by Red Rock Management, a professional property management company. Residents can pay dues, submit maintenance requests, and access community documents through Red Rock's online CINC portal. The elected HOA board provides strategic direction, sets policy, approves the budget, and meets monthly on the last Monday of each month.

  For maintenance emergencies, there's a 24/7 text line: 877-560-5134.

• What improvements is the community currently making?

  The board is actively modernizing the community's common areas and grounds. A recent landscaping overhaul transformed the front entrance and high-visibility areas — replacing overgrown and aging plantings with a professionally designed installation that sets a new standard for the community's curb appeal. This is part of an ongoing commitment to updating and improving shared spaces that every resident benefits from.

  We're also in the middle of a multi-year roof replacement program across all seven buildings — a major capital initiative to protect the structural integrity and long-term value of every unit in the community.

• I saw the community from the greenway — how do I learn more or see a unit?

  We love that the greenway brings curious neighbors to our door. For available listings, your best starting point is a Charlotte real estate agent or a search on Zillow or Realtor.com for "Hedgemore Dr Charlotte NC 28209."