October 2020 report on commercial real estate in University City – Charlotte

Novant Health’s proposal for a medical center on North Tryon Street includes several transportation improvements

Novant Health medical center among 9 developments proposed for University City

• City Council heard or approved 10 University City rezoning petitions at Sept. 22 meeting
• Novant Health plans 144,000 SF medical facility at N. Tryon and Mallard Creek Church Rd
• 8 other petitions would add nearly 2,000 housing units, 30,000 SF office/retail
• The owners of the closed Gray’s Bookstore near campus are requesting broader retail uses
• MORE

Recent building permits point to $125+ million in new construction

• Permits issued since June include three residential projects near LYNX, campus
• Lidl has started work on store on W. Mallard Creek Church Road
• Casto gets permits for two retail/office buildings at The Pointe at University Place
• MORE

Apartment sales in CLT and University City strong, Business Journal reports

• Journal credits better-than-expected rent collections, rebound in debt markets
• Increasing migration to Charlotte also buoying sales activity
• University City sales in 2020 include:
  • Addison Park Apartments – $75.5 million; 426 units; 6225 Hackberry Creek Trail; Aug. 17
  • The Hamptons – $31.7 million; 180 units; 8415 University Station Circle; Aug. 17
  • Magnolia Terrace – $40.7 million; 264 units; 8301 Paces Oaks Blvd. Sept. 1
  • Greenway at Mallard Creek – $49.55 milion; 266 units; 8230 Greenway Village Drive; Sept. 16
• MORE

Insurance and financial-services companies helping University City prosper

• Centene Corp’s East Coast HQ is the latest coup for University Research Park
• Business Journal says sector has grown this year while most others have shrunk
• TIAA and four other insurance, financial-services firms have major offices in park
• MORE

University City Partners events helping draw people to University Place

• 4th Annual University City Wine Fest sold out 4 of 5 events Sept 16-20. See the action on Facebook
• Weekly Farmers Market opening Oct. 3 along the lakefront for one-month autumn run
• University City Farmers Market to operate weekly from spring through fall 2021
• MORE

UNC Charlotte enrollment tops 30,000 while many colleges shrinking

• University’s enrollment is biggest ever, with both graduate and undergrad growth
• News reports say many schools nationwide seeing decline due to pandemic
• UNC Charlotte is now No. 2 in UNC system, second only to NC State
• MORE

Charlotte announces Thrive Hiring Grant to create new jobs

• Grants will be provided for full-time positions that offer benefits within first month
• Companies must commit to hire at least 5 people
• Companies to get $5,000 per hire if they meet all eligibility requirements
• SEE COMPLETE GRANT DETAILS

October Fast Fact

33% – Percent of new undergraduates at UNC Charlotte who are first-generation college students