Carolina Development Group is planning a 37-story residential tower for Uptown that will feature up to 350 units and 5,000 square feet of commercial space. It is currently undecided if it will be condos for purchase or apartments for rent.
The proposed tower is at 10th and North Smith streets — right off of Graham before the 277 underpass.
Brett Krueger, who represents the seller group, said they are “working with the seller and buyer to get the building approved with the city.”
Background: The property is currently a metal fabricating shop (industrial use) which Brett says isn’t the best fit for uptown. However, everyone he’s talked to about what should be there has voiced support for condos, he said.
“There’s demand for retail and condos. As developed as it is, there’s still a shortage of (residential) real estate in uptown,” Brett says.
What it means: If approved, and if the units are for sale instead of apartments, it will be the first major condo project Uptown since the recession.
Additionally, like the Vue, this tower will be offset from the rest to really provide incredible views and a great location with easy access to highways and the beautiful fourth ward.
“I am most excited as to the direct exposure this building will have on I-277 as well as residential and commercial opportunities I believe it to be the best investment in Uptown Charlotte,” Brett says.
He explained that at that particular location, it’ll be one if the first things you see driving into the city, so the potential for retail in that space makes a lot of sense.
When: The site still needs approval for rezoning before the design and timeline are firmed up. We will keep the story updated as those details become available.