Charlotte’s most anticipated developments break new ground in 2022
There are a handful of major developments poised to break new ground over the coming year that will change Charlotte’s appearance. We have gathered the biggest ones here.
But first, a caveat about roundups like this: Construction timelines change frequently. This is even more true during a pandemic, when developers face material shortages, shipping delays, and difficulty finding workers for the job.
Therefore, a few of the projects on this list might be the ones you saw in a version of this story that we released earlier. We’ll do our best to keep you posted on the schedule as we learn more.
Another remark: There are still a handful of big projects coming up that we don’t have a timeline for yet. For example, last year Cousins Properties acquired the 3.4-acre property on the South End Railroad Track that includes Slate (for $ 28.1 million). It’s going to be a kind of dynamic mixed-use project called South End Station.
- Cousins is still internally planning the project, says Mark Holomon, who heads the company’s portfolio of offices in Charlotte. “We’re looking at the market to make sure we’re really thinking,” Holomon told Axios. “It’s a very important field. It’s near the RailYard and next to the railroad track.
There are other projects with deadlines that have changed. One is 10 Tryon, the 15-story mixed-use development on North Tryon that will include a Publix. The developers hope this project will spur further development along North Tryon.
Here are the most important developments planned for 2022:
Faculty of Medicine campus and innovation district
The description: Atrium Health and Wake Forest Baptist are planning a medical school campus and innovation district on more than 26 acres in the downtown area. Among other features, it will include: four towers, a street-level commercial space for restaurants and other businesses, up to 1,000 apartments, a hotel, parking lots and an outdoor public space.
- The City of Charlotte and Mecklenburg County have approved a combined $ 75 million to help fund the project’s infrastructure.
Chronology: The groundbreaking ceremony will take place in early 2022.
Why is this important: Charlotte has long been the largest city in the United States without a four-year medical school. Local officials say this project will help position Charlotte as a research and innovation destination. Plus, it will create thousands of new jobs over time.
- Yes, but: Some neighbors said they were concerned about the spillover effects of the project, such as displacement. Some said they would like to see more residences on site reserved for affordable housing.
The description: Boston developer The Fallon Company is planning a $ 400 million mixed-use development called Center South on a 16.7-acre site on the outskirts of Dilworth, where Strawn Cottages was located years ago. It will include affordable housing, retail, a hotel and offices.
Chronology: The inauguration is expected to begin in 2022, the developer has confirmed.
Why is this important: Various plans have been in the works for years on what to do with the old Strawn Cottages site. Center Sud is a partnership with Inlivian, so a key component of the development is affordable housing. The property will have 145 residential units for households representing 60% and 80% of the region’s median income.
The description: Florida developer Stiles and California real estate company Shorenstein are behind the 23-story office tower at the East / West Station. This will be in the area which is currently a car park behind The Manchester. The 370,000 square foot building will include 11,000 square feet of retail space on the ground floor.
Chronology: The plan is to innovate on development next year. He’ll be ready to be busy in 2024, according to Adrienne Zalkind, vice president of marketing at Stiles.
Why is this important: This tower will add to the growing skyline of the South End, an area that is home to large office tenants like Lowe’s (which also has a 23-story tower nearby), Dimensional Fund Advisors (which is in the new Dimensional Place building) and LendingTree (which recently moved its new headquarters to the new Vantage South End property).
30-storey apartment tower on the Price site
The description: This fall, Charlotte-based Catalyst Capital Partners announced their partnership with developer Stiles on a 30-story ‘ultra-luxury’ apartment tower on the Camden Road site, which once housed the iconic Price’s chicken restaurant. . The building will have 300,000 rentable square feet with 291 apartment units, 9,500 square feet of retail and restaurant space and approximately 10,000 square feet of office space that Catalyst will eventually occupy.
Chronology: Construction will begin in the third quarter of 2022, the developers announced.
Why is this important: Tall buildings are rising all the time around Charlotte. But it will replace a local institution that had been operating there for nearly 60 years. This tower is the latest sign of the South End’s evolution from a manufacturing area to a grungy hub for local small businesses to a dense pedestrian precinct filled with sleek, tall towers.
Midnight dinner development
The description: Chicago developer Riverside Investment & Development plans three towers (totaling over 1.2 million rentable square feet) on the outskirts of Uptown and South End – where Midnight Diner and Uptown Cabaret are currently located. It will have at least one residential tower with 350 to 650 apartments. It will also have approximately 800,000 square feet of office space. Additionally, Riverside is considering installing a hotel on the site, according to Anthony Scacco, the company’s chief operating officer.
Chronology: Construction will begin by the end of 2022. The first building is expected to open in 2024.
Why is this important: The Riverside development is located in a crucial location connecting Charlotte’s Central Business District (Uptown) with an area that is quickly becoming one of the nation’s hottest office submarkets (South End).
The description: Developer Crosland Southeast is transforming the former 80-acre Eastland Mall site into a mixed-use center that will house restaurants and retail, residences, a park, a Charlotte FC youth football academy and Tepper Sports & Entertainment, parking and new infrastructure like roads and sidewalks.
Chronology: The goal is to lead the way in February 2022 with the first phase completed towards the end of 2023, Tim Sittema, managing partner of Crosland South East, told Axios.
Why is this important: Decades ago, Eastland was Charlotte’s coolest mall, complete with a food court and an ice rink. Since its closure in 2010, the city has been trying to figure out what to do with this vast site. Local leaders and developers say they anticipate the project will result in new investment in east Charlotte.