Just outside the I-277 loop, three new buildings have been announced. They will sit kitty-corner from the Business Journal Headquarters at South Tryon Street and East Morehead Street, a corner long known for spicy nightlife. The site currently is home to Uptown Cabaret, but the 3-acre parcel is also home to beloved 24-hour Midnight Diner. It has been announced that Midnight Diner will relocate during construction and it is unclear if they will return to the new buildings or if they will relocate permanently. No word on Uptown Cabaret at this time.
The entire project is expected to cost around $750 million and construction should commence before the end of 2022. The developer on the project is Riverside Investment and Development out of Chicago. This is their first project in the Charlotte area. Their plan is to help transform the area connecting Uptown and SouthEnd.
According to the Riverside Investment and Development website, the plan is for three towers with “a mix of commercial and residential uses, along with large, outdoor open spaces, dynamic retail, and cutting-edge sustainability, health and wellness features.”
Additional statements from Anthony Scacco, Chief Operating Officer for Riverside are [that] “We are very excited and honored to join the Charlotte business community and help transform the area between Uptown and South End, creating a world-class live-work-play environment that will contribute to the city’s already impressive growth story. We look forward to continuing our partnership with local officials to ensure thoughtful urban planning at this important location.”
This project will join a host of other projects in the area which has been booming ever since the construction of the pink building, which was the first tower in SouthEnd. When the light rail came through, the area had further investment to support commuters, and has continued to be popular since that time. The transformation is far from over, as another 30-story tower has been announced at the former site of Price’s Chicken Coop which closed earlier this year. There are also many other projects in various states of completion in the area with a mix of retail, offices, and homes.
Before this project can break ground however, developers are working hard with the Charlotte Transportation Department and the North Carolina Department of Transportation to do a traffic study to evaluate the entire street grid around the project. Each of the streets that surround the site are being studied for potential widening, improved turn lanes, and possible reconstruction of the College Street Connector. Bike lanes and pedestrian crossings are part of the study as well and these issues must be addressed before construction on the towers begins.
This site is sure to be popular as there will be a pedestrian connection to the Carson Boulevard light rail stop. The walkable location is sure to be a draw and with light rail right there, residents won’t even need a car. There is not yet word on when individual units will come up for sale or lease.