There are many new projects coming to the Charlotte area in the next few months. Here are just a few of that we are most excited about:
- On the West side of town, off West Boulevard on the Catawba River, Crescent Communities bought another 7.8 acre parcel as part of River District. The parcel will be the gateway into River District as it sits on West Boulevard and will welcome you into the neighborhood. The entirety of River District in West Charlotte will eventually be 1,400 acres of master planned space. Crescent Communities currently owns 1,100 of those acres and expects to acquire the rest in the coming years. When fully built out, the plan calls for 8 million square feet of offices, 500,000 square feet of retail, 1,000 hotel rooms, 2,300 single-family homes, and 2,550 apartment units. At least 4.5 acres of the project will be dedicated to affordable housing. River District will eventually be the size of Ballantyne. Construction is expected to begin this year. The full project with all of the phases of construction is expected to be completed over the next 10 years.
- Savona is an adaptive reuse project that filed zoning petitions in January. If approved, the project will encompass over 30 acres of land and will contain offices, retail, and residential units. The project is located on the West side of Uptown, just a mile out from the business district. The over 100-year old mill building is to be retrofitted to become around 200,000 square feet of class A creative office, retail space, and 650 residential units. The project will include state-of-the-art amenities and access to 40 acres of adjacent parkland in addition to greenspace and gardens. The area is connected to Uptown via the Gold Line Streetcar making it a very popular area for adaptive reuse projects. Additionally Savona will be the home of Lakewood Trolley, a vintage rail line serving the 1.25-mile long corridor from the West End to Cedar Street and the Carolina Panthers stadium district.
- Developer Childress Klein filed for rezoning on 287.7 acres of land between Mecklenburg and Cabarrus Counties. This project would tentatively bring more than 2.2 million square feet of distribution and warehouse space in addition to 700 residential units.
- Two townhome projects are in the works by real estate firm Beauxwright on West Trade street near Five Points Park. The first, Greenway Townhomes will have 84 units with delivery by the end of 2021. The second, Five Point Townhomes will have 49 units expected in 2022. Units will have 3 or 4 bedrooms, garages, bonus rooms, and should start in the $300,000 range.
- Builder Stanley Martin is planning a new project in Pineville. The yet to be named project should bring 166 3-story Charleston style townhomes to the area. They will sit on a 26.8-acre parcel at the intersection of Downs and Rock Hill-Pineville roads.
These and many more projects are in the works in the area. Hopefully they will help with the lack of inventory we have been seeing and the trend for the past few years.