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Charlotte NC Development Stonewall Street
A one-mile stretch of road along uptown’s southern edge is about to become the single busiest spot for development in uptown, with seven major projects underway or about to begin next year.
Stonewall Street, stretching from Bank of America Stadium to Interstate 277, is in the early stages of a complete transformation. While other development hotspots in the city might cover more area or include a higher total number of residences (Think of the cluster of three major mixed-use projects at Providence Road and Interstate 485, for example), nowhere else in the city will there be as many high-rise projects of different types underway at the same time.
Here’s a look at what’s coming:
(1) Former Observer site.
Charlotte-based Lincoln Harris and Goldman Sachs spent $37.5 million buying the 10-acre former Charlotte Observer site, spanning two blocks from Mint Street to Tryon Street. The companies moved fast, spending an extra $4.2 million to tear down the buildings.
Now, the site has been scraped clean, with workers crushing the last pieces of rubble into fine gravel for use in construction. Lincoln Harris has been tight-lipped about plans for the site so far, but preliminary documents filed with the city indicate the site will be home to a major new mixed-use development that will include at least 1 million square feet of office space. (For comparison, the Bank of America Corporate Center is about 1.4 million square feet.)
(2) Tryon Place.
Across the street, on the opposite corner of Stonewall and Tryon streets, Charlotte-based Crescent Communities has started site work for Tryon Place, another mixed-use development that will be anchored by an office tower. The company has torn down a former Goodyear auto shop on the site.
“While technically underway with the site’s demolition, and soon remediation, we are still on track to begin construction on Tryon Place early next year,” the company said in a statement.
The 700,000 square-foot building is projected to be complete in 2019.
(3) 615 South College.
Next to the Westin hotel on Stonewall Street, Atlanta-based Portman Holdings is building an 18-story office tower. The 372,000 square-foot building is set to open in the spring, with Regions Bank, the first tenant, leasing 64,000 square feet.
(4) Stonewall Station.
One block down the street, Crescent is well underway on Stonewall Station, set to open in 2017. The mixed-use project is anchored by a Whole Foods that will connect directly to the Stonewall Street light rail station. The development will also include 450 apartments, with one building reaching 22 stories, and a pair of hotels with 300 to 350 rooms (The brands haven’t been announced yet).
(5) Northwood Ravin apartments.
Across the street from that, Charlotte-based Northwood Ravin plans to start work later this year on a new development at Stonewall and Caldwell streets. The site, currently a blank mound of dirt, will include a 20-story high-rise and a mid-rise building totaling 421 apartments, 12,000 square feet of office space and 8,000 square feet of shops and restaurants.
(6) Actor’s Theatre apartments.
And next to that, Charlotte-based Proffitt Dixon is planning to start work in the first quarter of 2017 on a new, six-story apartment building at the site of the now-shuttered Actor’s Theatre. Early plans show the building would include 300 apartments and up to 10,000 square feet of retail space.
(7) Bob Walton Plaza and Brooklyn Village.
Adjacent to the Actor’s Theatre site, the Mecklenburg County-owned Bob Walton Plaza office building is set to be redeveloped. It’s part of the $683 million Brooklyn Village plan, in which the county is selling 17 acres in Second Ward to development group BK Partners. The Bob Walton Plaza building should be vacated by 2018, though that timeline could be sped up.
The 5-acre Bob Walton Plaza would become “Brooklyn Village South” under the preliminary plan submitted by BK Partners. That portion of the development would include 395 apartments, 506,600 square feet of office space, 106,800 square feet of shops and restaurants and 130 hotel rooms. BK Partners and the county are still negotiating the final terms of their agreement.
Photos: Ely Portillo; John D. Simmons/Charlotte Observer; Courtesy John Portman & Associates; Diedra Laird/Charlotte Observer; Front Top Graphics
33 years of Experience in Real Estate PROFESSIONAL EXPERIENCE Having a 22 year background in the Home Building industry and 14 years with RE/MAX, Karin has a strong knowledge of construction, mark....
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