Already, cranes crowd the Charlotte skyline despite the ongoing pandemic. Looking ahead, several other highly anticipated developments are expected to break ground this year.
Why it matters: Charlotte remains attractive to developers. The city was growing before the pandemic — leaders say another 385,000 could move here over the next two decades — and real estate trends locally last year suggest no slowdown.
This list is not exhaustive. To be sure, other significant projects are in their early stages around town.
- For instance, the Gateway Station project will bring an Amtrak train station and a transformative mixed-use development to Uptown. CBJ reports that the developer behind the project, Charlotte Gateway Partners, is a joint venture between The Spectrum Cos. (a Charlotte developer) and Republic (based in Washington, D.C.).
Yes, but: The timing of all of these projects below comes with a big disclaimer. A few of these developments have already faced significant delays, some because of the pandemic, some unrelated to it.
Central Square Plaza Midwood
Description: Crosland Southeast bought the 12-acre Central Square site in the middle of Plaza Midwood last year for nearly $50 million. The developer plans to turn it into a walkable hub filled with apartments, offices, and retail. According to Bobby Speir, SVP of acquisitions at Crosland Southeast, plans for the site include:
- A new “main street” running through the the middle of the property, which’ll be where the sprawling Central Square parking lot is now
- A six-story, 150,000-square-foot office building
- Up to 400 apartments
- Ground-floor retail
Timeline: Construction will begin around the middle of next year. [Go deeper]
Why it matters: A sweeping asphalt lot will turn into a little town center, of sorts, for the neighborhood. The challenge for Crosland Southeast is preserving the artsy character of Plaza Midwood.
Description: The 15-story mixed-use development on North Tryon has been in the works for years.
- Publix has a lease for a 28,000-square-foot space on the tower’s ground floor.
- The 215,000-square-foot building will have about 175,000 square feet of office space, plus room for other retail tenants on the ground floor and on the rooftop.
Timeline: Construction was supposed to begin in the middle of last year, but the pandemic scuttled those plans. The goal is to break ground sometime in 2021, says David Furman, the project’s architect.
Why it matters: 10 Tryon is expected to help connect Charlotte’s city center with other growth occurring along North Tryon, including the construction of a new main library nearby.
Description: Boston developer The Fallon Company last year unveiled plans for a mixed-use development on a 16.7-acre site on the edge of Dilworth, where Strawn Cottages stood years ago. Called Centre South, the $400 million project will include affordable housing, retail, a hotel, and office space. [Go deeper]
Timeline: Construction will begin in 2021.
Why it matters: A redevelopment of the Strawn Cottages site is years in the making. The single-story homes were built in the early 1970s as housing for elderly residents. Eventually, the cottages were torn down, and in 2010, Inlivian (formerly Charlotte Housing Authority) had the site rezoned, per CBJ. Inlivian selected The Fallon Co. to be the project’s master developer in 2016.
Description: Last year, Charlotte City Council approved plans to redevelop the 69-acre former Eastland mall site. It will be home to a blend of mixed-income housing, retail, offices, a grocery store, green space, and a Major League Soccer academy headquarters. [Go deeper]
Timeline: Construction should begin sometime in the first quarter of 2021.
Why it matters: The city bought Eastland two years after the mall, once Charlotte’s hottest shopping center, closed in 2010. Ever since, officials have been trying to decide what to do with the property. They considered a number of proposals over the years, but nothing stuck. The city hopes this latest proposal will help drive investment in east Charlotte.
Seventh and Tryon/Main Library
Description: This is a $600 million public/private partnership to redevelop 1.5 blocks on North Tryon bordered by Sixth, Seventh, and College, the area that includes Spirit Square. Eventually, the site will include restaurants and shops, a 25-30-story office tower, residences, a walkable plaza, sidewalk cafes, above-ground and underground parking, and a new main library building. [Go deeper]
Timeline: The current main library branch will close this summer, and construction on its replacement will begin in the fall. The city and county are expected to approve plans by the developer, Metropolitan Partnership, this year. The whole project will wrap up sometime in 2024.
Why it matters: Plans to build a new library, and to redevelop Spirit Square, have been in the works off and on for more than a decade.