A number of development projects are planned or underway in Charlotte’s SouthPark, a submarket that’s undergoing renewed real estate activity.
Many of the projects are repositioning dated office buildings and aging apartment properties into denser, more urbanized mixed-use developments. The new investment and redevelopment in SouthPark has even spurred a collective group of landowners, residents and real estate professionals active in the submarket to plan out a cohesive vision and plan for SouthPark’s future.
The Urban Land Institute studied SouthPark last year — its findings indicated that the area should become more pedestrian-friendly as denser development gets built. The area currently struggles with heavy car volume on its main arteries, and pedestrian safety has been cited as a key concern among SouthPark residents. ULI also recommended more active, public spaces throughout SouthPark and a more unified approach to development, rather than a slew of projects that lack connection or cohesiveness.
Here’s a breakdown of some projects approved or underway in SouthPark:
- Inspire SouthPark: Under construction now, this 369-unit apartment project on Sharon Township Lane will open in phases, according to Ryan Morgan of La Jolla, Calif.-based Morgan Holdings. The first apartments will open in late 2017 or early 2018, with the entire project delivering by summer 2018. The multifamily firm also developed Spectrum in South End.
- The Colony redevelopment: Potentially the most transformative project on deck for SouthPark, redevelopment of The Colony apartments won’t get started until next year. According to Tim Hose, president and CEO of Synco Properties, the 27-acre redevelopment won’t begin earlier than July 1, 2018. Synco Properties is developing the project with Schlosser Development Corp. At buildout, the project is expected to include up to 990 residential units (55 of which will be workforce-housing units), 250,000 square feet of office space, 225 hotel rooms and 300,000 square feet of retail. Hose said the initial phases will include all of the retail space, one of two office buildings, the hotel, and the first phase of residential (340 apartments). The second office building and remaining residential would be developed later.
- Hazel SouthPark: Approved for rezoning late last year by Charlotte City Council, the mixed-use project by ZOM Carolinas, part of Florida-based ZOM Development, will include 246 apartments and 15,000 square feet of ground-floor commercial space. The development will replace an old office building on Barclay Downs Drive. In addition to the building, ZOM has committed to $225,000 to sidewalk improvements on Barclay Downs. Anticipated groundbreaking of Hazel SouthPark project is in the fourth quarter of 2017. “Throughout our extensive planning process, it was clear to us that SouthPark wants to grow into a dynamic, walkable and pedestrian-friendly community,” said Darryl Hemminger, senior vice president of ZOM Carolinas. “We absolutely agree and have promised to deliver a project that helps to achieve that vision. We take that promise seriously and look forward to starting construction later this year and delivering a great project for the SouthPark community.”
- Sharon United Methodist Church redevelopment: Another significant redevelopment for SouthPark, Childress Klein and Sharon United Methodist Church are reimagining a 8.6-acre parcel at the intersection of Sharon Road and Morrison Boulevard. The “ski-slope” church and site will include a new 750-seat facility for the church, 490 residential units, a 175-room hotel, up to 170,000 square feet of commercial space and up to 20,000 square feet of indoor recreation space. The church is moving out in phases, according to Kyle Thompson, senior pastor at Sharon United Methodist, who said the last Sunday worshipping at the existing facility was this past Sunday. The temporary home for worshipping is at Regal Cinemas Phillips Place. Thompson said all other ministries have moved offsite and the church office will remain until early summer. Both Thompson and a spokeswoman for Childress Klein declined to estimate a starting time for development.
- Capitol Towers North: Construction on the second phase of Lincoln Harris’ project on Congress Street is wrapping up — the 10-story, 236,250-square-foot office tower is the twin to Capitol Towers South, which delivered in 2015. Campbell Walker, senior vice president at Lincoln Harris who is leasing the building, said the entire building continues to be marketed. In total, Capitol Towers will include 480,000 square feet of office space and 35,000 square feet of retail. Tenants like Dixon Hughes Goodman, Sterling Capital Management, Albemarle Corp., Baird and MassMutual Carolinas have taken space at the first tower but no tenants have yet been announced for the second.
- AC Hotel: To be developed on the same site as the Marriott SouthPark, an AC Hotel won rezoning approval from Charlotte City Council last year. The approved plan indicates a 170-room hotel at Roxborough and Rexford roads. A timeline for groundbreaking on the hotel was not immediately available Wednesday.
- Hilton Garden Inn/Homewood Suites: Crosland, Allen Tate and Chartwell Hospitality are developing a dual-branded hotel at the former Olde Towne Apartments site on Sharon Road. The six-story hotel will include a 160-room Hilton Garden Inn and a 110-room Homewood Suites. The project broke ground in October 2015. Reservations at the hotels are beginning Sept. 1, according to Hilton’s website.