What’s new: Latest development, jobs growth, campus transformation, Topgolf

What’s new: Latest development, jobs growth, campus transformation, Topgolf

University City’s growth keeps making headlines. Here are some of the latest reports.   See the details on University City’s latest construction A new online report by University City Partners provides details on development and infrastructure projects “in the pipeline” as of February 2020, including nearly 4 million square feet of office space announced in 2019. The report is organized by development near our three LYNX stations; Innovation Park; and University Research Park. SEE THE REPORT   News report: University City’s primed to add jobs A news report by the Charlotte Ledger concludes that University City’s boom in office construction and renovations signals a parallel surge in employees. “We put a light rail line up there, we already have a lot of jobs up there, and we have the university up there, assistant city manager Tracy Dodson told The Ledger. “That area is ripe.” READ THE ARTICLE University report chronicles “era of unprecedented growth” under Chancellor Phil Dubois The crane towering over the future UNC Charlotte Hotel and Conference Center is the latest sign of the university’s transformation under Chancellor Phil Dubois, who’ll retire on June 30. A new online report highlights significant milestones during Dubois’s 15 years as chancellor, including more than $1 billion in construction and renovations. SEE THE REPORT   Topgolf to open next fall in Entertainment District Topgolf, the popular golf-oriented entertainment venue, has announced that it will open a new facility next fall near I-85 and University City Boulevard. The 60,000-square-foot venue will be a key piece in the University City Entertainment District being developed near the University City Blvd LYNX light-rail station by...
These buildings are reshaping UNC Charlotte

These buildings are reshaping UNC Charlotte

Construction projects totaling more than $300 million are reshaping our growing UNC Charlotte campus. Here’s a quick look:   UREC health and wellness center The ribbon cutting for the university’s 160,000 square-foot recreation center drew an exuberant crowd on Jan. 8. Located at 8827 Craver Road beside the Popp Martin Student Center, the newly named UREC features an indoor and outdoor pool, 4 multi-purpose courts, 5 multi-purpose studios, 80 group fitness classes a week and outdoor basketball, pickleball and volleyball court. Student fees will pay for the $66 million building. See a time-lapse video of the two-year construction project Get an inside look of the new facility courtesy of the Niner Times Take a one-minute video tour Visit the UREC website   Marriott Hotel and Conference Center The crane now towering over the future campus hotel and conference center’s construction site can be seen from miles around. The first two stories of the conference center and hotel are taking shape at the corner of North Tryon Street and J.W. Clay Boulevard – adjacent to the J.W. Clay Blvd LYNX light-rail station. The estimated completion date is spring 2021. See the latest construction update and photos Get an overview of the project and its significance   New Science Building Campus leaders see the $101 million future science building as transformational and vital to UNC Charlotte’s academic advancement. “This one-stop-shop for our chemistry, biology and physics programs is an indisputable necessity,” said Chancellor Philip L. Dubois. The building will replace the current Burson science building, built in 1985. The new science building will bring together instructional and research laboratories, faculty offices,...
These four projects will launch University Place transformation

These four projects will launch University Place transformation

The 2018 opening of the Blue Line Extension between UNC Charlotte and Center City launched a massive reshaping of the North Tryon Street corridor in University City. Look for these four public and private projects to focus that transformation on University Place over the next three to four years.   J.W. Clay Boulevard streetscape Construction of a major pedestrian- and bike-friendly overhaul of J.W. Clay Boulevard through University Place is expected to start in late summer of 2021. The $12.9 million streetscape project will significantly improve this key artery for all modes of transportation, including pedestrian, bicycle, vehicle and transit. Main improvements will include completing and widening sidewalks, redoing roadways and medians to accommodate bike lanes, adding a planting strip and street trees, and constructing a two-way separated cycle path between the JW Clay Blvd LYNX Station and Doug Mayes Place. For more streetscape details and updates, visit the project website. Watch a 2016 video showing the planned roadway transformation (some details have changed, but the video is still fascinating).   I-85 North Bridge and Barton Creek Greenway The cycle path, providing a bike lane in each direction, will continue across I-85 and into University Research Park via a related road project, the I-85 North Bridge. Construction on that project is expected to start in spring 2021. Meanwhile, Mecklenburg County is nearing completion on the long-awaited Barton Creek Greenway from JW Clay Boulevard to the Mallard Creek Greenway. Once the new greenway opens, University Place will have direct access to 9-plus miles of greenways through UNC Charlotte, University Research Park and several neighborhoods. Read our report on the I-85...
Major employer leases half of office building near LYNX

Major employer leases half of office building near LYNX

One of University City’s first office buildings has officially been reborn with the announcement on Jan. 14 that Principal Financial Group will occupy more than half of Proximity Park, at 401 McCullough Drive. Built in 1973 and renovated over the past year by new owner Tempus Realty Partners, the three-story office building holds about 205,000 square feet of space. Principal Financial Group, a major investment management and insurance company, will occupy the full third floor and part of the second floor, the Charlotte Business Journal reports. The company plans to begin moving in next summer. Based on industry averages, the 106,000 square feet of office space leased by Principal could accommodate roughly 600 people. Principal acquired Wells Fargo’s Institutional retirement and trust business last summer, including an employment center in Charlotte, The Business Journal reports. Read the full article   About Proximity Park Proximity Park is situated on a 32-acre campus beside I-85. Allstate had its Charlotte offices there until relocating to Innovation Park, the former IBM facility that now houses several major Charlotte employers. Tempus Realty Partners bought the property in 2017 and has spent more than $8 million on renovations. Colliers International is handling leasing. A big selling point is the property’s easy access to Uptown Charlotte via both I-85 and the LYNX light-rail line. Marketing materials say that the McCullough Drive LYNX Station on North Tryon Street is just a 7-minute, half-mile walk away. The property also has abundant parking and room for a second building. Jamie Boast, Chris Schaaf and Olivia Matthews with JLL represented Principal in leasing Proximity Park, and Brad Grow, Chandler Knox...
In a year of big sales, Innovation Park ranks 2 AND 1

In a year of big sales, Innovation Park ranks 2 AND 1

The sale of Innovation Park ranks as Charlotte’s No. 2 biggest commercial-real estate deal of 2019, says the Charlotte Business Journal. The former IBM plant-turned-mega-office center sold for $270 million, making it 2019’s No. 1 suburban office deal, as well. The region’s biggest deal was the sale of the 33-floor Bank of America Tower at Legacy Union, The Business Journal reported in its annual listing of the region’s top 10 deals. Both the Bank of America Tower, which sold for $441.6 million, and Innovation Park, at $270 million, sold for substantially more than the No. 1 sale of 2018, the Regions 615 office building in uptown Charlotte. That building sold for $222 million. Innovation Park, with 1.8 million square feet of offices and a 200-acre campus in University Research Park, was bought in October by Switzerland-based Partners Group and Accesso Partners of Florida. The center houses numerous companies including Allstate, Wells Fargo and AXA, and several thousand workers. The new owners plan to nearly double the amount of office space, add up to 1,000 residences and also develop retail space and other uses, the Charlotte Observer reported at the time of the sale. READ...
Solectron redeveloper adds Mallard Creek Road property

Solectron redeveloper adds Mallard Creek Road property

Shorenstein Realty Services, which announced plans in October 2019 to redevelop a massive former IBM office-warehouse facility on Solectron Drive, recently bought land that could provide a major entrance on Mallard Creek Road. Shorenstein acquired the longtime Flextronics facility and 51 acres at 6800 Solectron Drive in October for $10.5 million. In November, Shorenstein paid $1.84 million for a total of 12.1 acres plus two homes and a garage along Mallard Creek Road and Penninger Road. With the additional properties, the 6800 Solectron facility now has direct access to Mallard Creek Road. At the time of the purchase, Shorenstein said it planned to convert the 430,000 square-foot building and campus into high-quality Class-A offices with outdoor amenities. The company website says that the office redevelopment will be finished in 2021....