Commercial Real Estate Roundup – October 2020

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

Novant Health rezoning

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

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

October Fast Fact

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

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