by Rich Haag | Oct 22, 2020 | Commercial real estate, Economic Development
• Council also approves five rezonings for 1,020 townhomes and apartments. • Hearings held on proposals for offices, townhomes along Mallard Creek Road. Novant Health’s rezoning request for a 144,000-square-foot medical facility won unanimous approval from Charlotte City Council on Oct. 19. The council also unanimously approved five other rezonings across University City that would add more than 1,000 apartments, townhomes and one-floor attached homes. Two rezoning hearings also held on Oct. 19 were for two Mallard Creek Road tracts just west of West W.T. Harris Boulevard. One rezoning would allow up to 50,000 square feet of offices and similar uses while the other would permit up to 130 for-sale townhomes. Details are below. To watch a the meeting video, click here. A directory allows you to choose which items to watch. Charlotte City Council zoning decisions 1. Novant Health medical center on North Tryon Street Location: Western corner of North Tryon Street and West Mallard Creek Church Road Zoning change approved: 23.8 acres from mixed-use development, optional to mixed use development, optional, with site plan amendment Petitioner: Novant Health. Petition 2019-163 details Proposed uses: Up to 144,000 sf of medical and general offices uses with optional provisions for vacant land. Uses could include clinics, health institutions, surgery centers, and emergency rooms. Current zoning allows up to 1 million sf of general medical and office uses and other uses. Transportation improvements: Developer commits to provide numerous improvements both at the site and at the I-85 interchange with Mallard Creek Church Road. Other details: provide urban open space, plus 8-ft wide planting strip and 12-ft wide multi-use path along sites frontage...
by Rich Haag | Sep 30, 2020 | Business Growth, Commercial real estate, Economic Development, Events in University City, Job Growth in University City, Transit Oriented Development
October 2020 report on commercial real estate in University City – Charlotte 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...
by Rich Haag | Sep 23, 2020 | Business Growth, Commercial real estate, Economic Development, Neighborhoods, Retail Expansion, Transit Oriented Development
The construction crane swinging over Vue on University, a new apartment community rising near campus, is a clear sign that University City continues to grow even through the pandemic. In fact, Mecklenburg County has issued building permits for more than $125 million in new construction and renovations in University City’s central business district between June 1 and mid-September. Here’s a glimpse at the largest projects. Please note that the dollar figures shown here don’t necessarily capture the full cost, since large projects may get multiple permits over several months. Residential projects Tapestry University City, University City Apartments, LLC, 8235 Dave McKinney Ave. $46.5 million 2. Vue on University, Vue on University Phase 1 LLC, 9905 University City Blvd. $40.5 million 3. LIV North Tryon Station, PR 111/LIC UNCC Apartments, LP, 6820 N. Tryon St. $15.4 million Retail/Office 4. Lidl grocery store, 615 W. Mallard Creek Church Road, new building, $9.43 million. 5-6. The Pointe at University Place buildings E and B, CS Shoppes at University Place, LLC Building E, 8956 J M Keynes Drive; office, bank, medical offices; $333,600. Building B, 9832 J M Keynes Drive; stores, restaurant etc.; $615,400. Office/Research 7. TIAA, Andrew Carnegie Blvd; multiple permits for interior renovations; $8.15 million. 8. EPRi, 1200-1300 W. WT Harris Blvd, renovations, $826,000. 9. Proximity Park, 401 McCullough Drive, interior improvements, $471,000. 10. Lowe’s, 1100 Chancellor Park Drive, upfits, additions and/or repairs, $627,000. Institutional 11. Mallard Creek Wastewater Reclamation Facility RUVI, City of Charlotte, 12400 N. Tryon St. $1.16...
by Rich Haag | Sep 23, 2020 | Business Growth, Commercial real estate, Economic Development, Job Growth in University City, Retail Expansion, Transit Oriented Development
A major Novant Health medical center was among 9 proposed developments in University City reviewed or approved by Charlotte City Council at its Sept. 21 rezoning meeting. Altogether, the nine proposals would add nearly 2,000 housing units, 30,000 square feet of retail and offices, and Novant Health’s planned 144,000 square-foot medical center near UNC Charlotte. Rezoning petitions approved on Sept. 21 The council unanimously approved all four of these petitions. Click here to watch a video of the entire 4-hour-long City Council meeting. 1. Mixed-use residential community on NC 49 Location: University City Boulevard, north side, just west of the Mecklenburg-Cabarrus County line. Zoning change approved: 93.9 acres from MX-1 mixed residential to MX-2 mixed residential. This will allow more than half of the dwelling units to be multifamily. Petitioner: K Sade Ventures, LLC. Petition 2020-092 details Proposed uses: 250 single-family detached homes and 288 multifamily units. Other details: 8-ft planting strip and 12-ft multi-use path along University City Blvd frontage. 2. Retail center on NC 49 Location: University City Boulevard, north side, just west of the Mecklenburg-Cabarrus County line. Zoning change approved: 4.56 acres from neighborhood business to general business, conditional. Petitioner: K Sade Ventures, LLC. Petition 2020-021 details Proposed uses: Up to 20,000 square feet of general business uses. Other details. Adjoins 92 acres also being rezoned for residential uses. 3. Mixed-use development on Mallard Creek Church Road near I-85 Location: East side of John Adams Road, north of Mallard Creek Church Road and east of I-85 Zoning change approved: 24.6 acres from neighborhood business and office to Mixed-Use Development (optional) Petitioner: Flournoy Development Group. Petition 2020-048...
by Rich Haag | Sep 21, 2020 | Commercial real estate, Greenways, Light Rail, Transportation
Charlotte is seeking our ideas regarding two major initiatives: Protecting and expanding the city’s tree canopy, and deciding the future of transportation and mobility in Charlotte. In each case, the city invites us to complete an online survey. Here are details: Charlotte Tree Canopy Action Plan Learn about city policies to preserve trees on public and private property and share your ideas for improving those policies. The survey includes three short videos. University City Partners is part of a working stakeholder group that is helping develop the Charlotte Tree Canopy Action Plan. TAKE THE SURVEY Charlotte MOVES Mobility Plan The city is preparing the Charlotte MOVES Strategic Mobility Plan to guide the future of transportation and mobility in Charlotte. The survey seeks to learn how people currently drive, walk, bike and ride around Charlotte and get our ideas for making those choices better for all travelers. TAKE THE...
by Rich Haag | Sep 11, 2020 | Business Growth, Commercial real estate, Economic Development, Events in University City, Transit Oriented Development
September 2020 report on commercial real estate in University City – Charlotte Crescent Communities redefining creative office space at Escent Research Park Four-story, 159,000 SF Class A creative office community to open in 2021 near I-85 Two large courtyards include indoor and outdoor spaces for collaboration, respite, meetings Light-filled lobby and amenity center offer alternative workspaces for creativity, collaboration Efficient +/- 45,000 SF floor plans with virtually column-free layouts provide flexible interior design Connectivity is key. Crescent is seeking Wired Certification of Escent’s digital infrastructure Building’s topping-out milestone was celebrated Aug. 24, 3 months after first panel was set LEARN MORE ABOUT ESCENT RESEARCH PARK Take a virtual tour Download the brochure Visit the website For leasing information, contact Joe Franco or Stephanie Spivey at CBRE University City Wine Fest returns Sept. 16-20 Five days of wine-flavored events include the main festival on Sept. 19 Redefined Wine Fest will take place at Armored Cow Brewing Co. at University Place. MAP Sign up now for group tables offer seating for 10 and special services WEBSITE AND RESERVATIONS Panorama Holdings gets $44.5 million construction loan for Lumeo Apartments Broadshore Capital Partners of LA providing the senior construction loan 314-unit community is under construction near University City Blvd LYNX station Panorama also developed $70 million Blu at Northline Apartments nearby MORE 2 apartment communities near Harris Blvd & Davis Lake Pkwy have new owners Addison Park, with 426 units, bought by The Dermot Co. for $75.5 million. Map The Hamptons, with 180 units, bought by Covenant Capital Group for $31.5 million. MAP Last owner of Addison Park bought it for $51.9 million...
