DEVELOPMENT REPORT SOUTH END

DEVELOPMENT REPORT SOUTH END May 2018

Overview South End Development Report The South End Development Report highlights private and public projects in Charlotte s South End that have been recently completed, are currently under construction, or have been announced and are in various stages of planning and development. Projects are reported on for up to six months following their completion. Charlotte Center City Partners is a 501(c)4 not-for-profit corporation. The organization s mission is to envision and implement strategies and actions to drive the economic, social and cultural development of Center City. Center City Partners jurisdiction includes Uptown, South End, and a portion of the Midtown neighborhood. The most recent version of this report and current information about Center City is available at charlottecentercity.org.

SOUTH END South End is located immediately south of Uptown and is well-served by the Blue Line light rail line with four stations at the heart of the neighborhood. Initially a bustling industrial zone trafficked by multiple freight lines and populated with textile factories and other warehouses, today South End is a dynamic urban neighborhood with a mix of rehabbed historic structures and new transit-oriented development first sparked by the re-introduction of the Charlotte Trolley in the 90 s and subsequent opening of the light rail line in 2007. South End is home to a burgeoning craft brewery scene, multiple art galleries and beloved local shops and restaurants. FAST FACTS: 2.8 MM SF existing office 1.6 MM SF existing retail 6,508 existing residential units 1 MM SF office planned/under construction 358 K SF retail planned/under construction 4,032 residential units planned/under construction 300 hotel rooms planned/under construction 4

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1 Marsh Properties Redevelopment 2701 South Boulevard Mixed-use 60 acres, 98,000 SF retail 1,200 units, 100,000 SF office Owner/Developer: Marsh Properties Phase 1 complete Marsh Properties and Aston Properties have begun work on a 60-acre mixed use redevelopment along South Boulevard at the current Sedgefield Shopping Center site. The site is also home to 303 existing apartment units. The completed first phase features a 68,000 SF Harris Teeter-anchored retail center. 2 Carson Boulevard Townhomes Carson Blvd. at South Tryon Residential.5 acres, 11 units 4 stories Owner/Developer: David Weekley Homes Under construction David Weekley Homes is developing 11 townhomes on Carson Boulevard. The units will have skyline views looking back towards Uptown and will be within one block of the the Carson Blue Line ation adjacent to the Rail Trail. 6

3 300 West Summit 300 West Summit nue Office.8 acres, 64,000 SF office 3 stories Owner/Developer: iles Under construction iles is building a mid-sized office building near the intersection Summit nue and South Church reet in the heart of South End. Florida-based iles hopes to began construction in late-2017 ith plans to open by late-2018. 4 Solis Southline South Blvd. at Remount Road Residential, Retail 3.5 acres, 313 units, 5,200 SF retail Owner/Developer: Terwilliger Pappas Complete Terwilliger Pappas recently completed a large multifamily development at the corner of Remount Road and South Boulevard. The group is working on similar projects in the Dilworth and South Park neighborhoods. This project contains 313 residential units wrapping a 415-space parking deck with 5,200 SF of ground floor retail at the corner of South Boulevard and Remount Road. 7

5 Dowd YMCA Renovation 400 East Morehead reet YMCA/Fitness 40,000 SF addition Owner/Developer: YMCA of Greater Charlotte Under construction The YMCA of Greater Charlotte has undertaken a $20 million overhaul at the Dowd YMCA on East Morehead reet. New features will include an additional 40,000 SF for expanded fitness space, new group studios, and upgraded locker rooms. To improve their parking issues, the YMCA has partnered with neighboring Pritchard Memorial Baptist Church to build a shared deck off site at the corner of Lexington nue and Caldwell reet which opened in early 2017. 6 Southpoint at South End Phase II 2821 Youngblood reet Residential 3.2 acres, 33 units Owner/Developer: Hopper Communities Phase I complete, Phase II under construction Hopper Communities is building an additional 33 townhomes adjacent to the 53 units recently completed along Youngblood reet. The second phase will share a similar design to the first, with two and three-bedroom units starting in the high $300,000s. Preleasing has begun, with nearly all of the first 53 units being sold prior to completion. Demolition of the existing commercial buildings on site has begun, with construction to begin soon after. 8

7 West Tremont Townhomes West Tremont reet Residential.75 acres, 16 units 3 stories Owner/Developer: Frank Martin / New Carolina Properties Planning stage New Carolina Properties is developing a 16-unit townhome project on West Tremont nue a few blocks away from the Blue Line. The development will contain two, three-story buildings with construction to begin in mid-2018. 8 Dunavant Apartments West Tremont reet Residential, Retail 2 acres, 368 units, 6,600 SF retail Owner/Developer: White Point Partners Site preparation A 368-unit apartment project is being planned for a light industrial site on Dunavant reet that will include both retail and office space. The site is currently occupied by a few small warehouses. The project will include a structured parking deck. 9

9 Dimensional Place South Tryon & Camden Road Office, Retail 2.3 acres, 200,000 SF office, Owner/Developer: Cousins Properties, Dimensional Fund Advisors Under construction Cousins Properties is developing a new building for the East Coast regional headquarters of Dimensional Fund Advisors (DFA) in Charlotte. Construction has begun and could be complete as early as late 2018. 10 Atherton Mill & Market 2140 South Boulevard Retail, Residential 10 acres, 371 units, 65,000 SF retail Owner/Developer: Edens Under construction Edens has confirmed a nearly $100 MM investment in the Atherton Mill and Market that will add an additional 65,000 SF of retail space and up to 371 residential units. This follows the well-received recent opening of Anthropologie in summer 2015. Construction began in early 2017, targeting an early-2019 completion date. 10

11 New Bern ation 2820 South Boulevard Residential, Retail, Office 4.5 acres, 375 units, 26,000 SF retail Owner/Developer: Lennar Multifamily Under construction Lennar Multifamily has secured a rezoning from industrial to TOD to develop the Pepsi Bottling site into a mixed-use project that will include residential, office, and retail. The site lies immediately adjacent to the New Bern light rail station, multiple recent multifamily projects, and across the street from the major Marsh Properties Sedgefield Shopping Center redevelopment. 12 Bainbridge Apartments Poindexter Drive & South Boulevard Residential 1.6 acres, 200 units 7 stories Owner/Developer: Bainbridge Companies Under construction Florida-based Bainbridge Companies is building a 7-story, 200-unit apartment project at the intersection of Poindexter Drive and South Boulevard across from Colonial Reserve at South End. This would be the firm s first project in the Charlotte area. They specialize in the construction and management of high end apartment communities. 11

13 Camden Grandview Townhomes South Boulevard & I-277 Residential 2 acres, 28 units Owner/Developer: Camden Properties Under construction Camden Properties is building a 28-unit for-rent townhome project adjacent to the Camden Grandview apartment complex along South Boulevard. The two-acre property was purchased from the City of Charlotte for $2 MM and is one of several municipal parcels created through the realignment of the South Boulevard/I-277 interchange. 14 Holiday Inn Express Kingston nue & South Tryon reet Hotel.9 acres, 120 rooms 5 stories Owner/Developer: Divine South End LLC Under construction Divine South End LLC is developing a limited service hotel on the corner of Kingston nue and South Tryon reet. Located between the Bland and East/ West Blue Line stations, this is the first hotel to be developed in South End. 12

15 Pollack Shores South End Apartments Tremont nue Residential 8.4 acres, 350 units Owner/Developer: Pollack Shores Under Construction Pollack Shores is building a 350 unit apartment complex on Tremont nue in South End. They hope to open the first apartments by late - 2018 and finish the entire project sometime in 2019. The building will also include 2,500 square feet of office or retail space on the ground floor. 16 Broadstone Apartments West Morehead & South Tryon reets Residential 1.9 acres, 260 units 6 stories Owner/Developer: Alliance Residential Site preparation Alliance Residential has filed plans for a 260-unit apartment complex at the corner of South Tryon and West Morehead reets. This project is adjacent to the recently-opened Loft 135 apartments. The building is expected to open in spring of 2020 and will feature studio, one and two-bedroom units with on site bike storage, pool and skyline-facing sun deck. 13

17 Tremont Apartments Phase II South Tryon & West Tremont reets Residential, Retail, Office 2.4 acres, 104 units, 10,000 SF retail, 2,000 SF office 4 stories Owner/Developer: 2001 South Tryon LLC Planning stage Preliminary plans call for multiple buildings on this site at the corner of West Tremont and South Tryon reets. The 2.4-acre site will contain on 4-story apartment building with 104 units, a smaller 10,000 SF retail or restaurant building as well as a 2,000 SF office and retail building. This project is adjacent to Three30Five Apartments and joins a handfull of other West Tremont projects announced in the past year. 18 rawn Cottages Redevelopment South Bouevard Mixed-use 16.2 acres, 745 units, 57,000 SF retail, 330,000 SF office, 180 hotel rooms Owner/Developer: Charlotte Housing Authority, Horizon Development Properties, The Fallon Group Site preparation Boston-based Fallon Company was selected as the master developer for the rawn Cottages site along South Boulevard. The site straddles Dilworth and South End and offers one of the largest TOD sites in the region. 145 of the housing units will be affordable with plans calling for a public park and other amenities on site. 14

19 2100 South Tryon South Tryon & West Tremont reets Office 2.8 acres, 83,000 SF office 4 stories Owner/Developer: Vision Ventures Planning stage Vision Ventures is developing a 4-story, 83,000 square foot office building at the corner of South Tryon and West Tremont nue. The building will include ground floor retail space with views of the Uptown skyline from the offices above. No construction timeline has been set. 20 Design Center Renovation South Tryon & West Tremont reets Retail 4.5 acres, 100,000 SF retail 2 stories Owner/Developer: Asana Partners Ongoing Asana Partners recently purchased the Design Center of the Carolinas along Camden Road and plans to convert nearly 100,000 square feet of space to retail and restaurant uses over the next few years. Atlantabased Tex-mex restaurant Superica recently opened a new 7,000 sf location here in spring 2018. 15

21 RailYard at Southend South Tryon & Bland reets Office, Retail, Residential 3.5 acres, 290,000 SF office 30,000 SF retail, 100 units 8 stories Owner/Developer: Beacon Partners Under costruction Beacon Partners is developing a 3.5-acre mixed use project in the heart of South End at South Tryon and Bland reets. The Rail Yard will include two 8-story office towers with ground floor retail fronting South Tryon reet and four stories of residential wrapping a 1,000 space central parking deck. There will be a central courtyard between the two towers as well as a rooftop park for tenants and residents. 22 Summit Square Townhomes Summit & Church reet Residential 36 units 3 stories Owner/Developer: Ryan Homes Complete Ryan Homes is building 36 townhomes in the heart of South End just one block from the Bland reet light rail station. The three-story homes will have 3 and 4-bedroom units each with a two-car garage. Unit size varries from 1,700-2,000 sf with prices starting in the low $400s. 16

23 Domain Townhomes 2418 Dunavant reet Residential.6 acres, 20 units 3 stories Owner/Developer: Revolve Residential Under construction Revolve Residential is building 20 townhomes along Dunavant reet on a site previously marked for a boutique office development. The 2-bedroom units will average 1,200 sf with prices starting at $274,900, and will include single car garages and private rear courtyards. Pre-sales have begun with completion estimated to be late-2018. 24 Tremont Music Hall Townhomes West Tremont reet Residential 4.4 acres, 74 units 3-4 stories Owner/Developer: Carolina Capital Investment Partners Site preparation Carolina Capital Investment Partners are developing an up to 74-unit townhome development on the site of the former Tremont Music Hall. Demolition and site work has begun with vertical construction to begin soon. A total of 18 row-buildings are planned for the site, with a density of 17 units per acre. 17

25 RAM Realty Residential Tower Hawkins & Doggett reets Residential, Retial 1.4 acres, 71 units, 11,000 sf retail 15 stories Owner/Developer: RAM Realty Services Planning stages Florida-based RAM Realty is developing a residential project immediately behind the Design Center at the corner of Hawkins and Doggett reets. The site is adjacent to a recently completed parking structure that will suport the tower and Design Center. RAM secured a rezoning that will allow the project to be up to 165 feet high, describing the building as a boutique housing option with retail along the base of the tower. 18

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