April 2024 Luncheon: “Thriving Submarkets in Charlotte”
Submitted by Julie Pruett, Marlboro Development Team
CREW Charlotte’s April luncheon showcased Charlotte’s remarkable ascent to becoming the fifteenth largest city in the United States, with a particular focus on its most vibrant submarkets, including South End, University City, SouthPark, and Ballantyne.
Marguerite Novak, representing City Center Partners, provided insights into the staggering $41 billion investment within the City Center footprint. Among the notable current projects is McColl Park, paying homage to Hugh McColl’s legacy. The park’s design is currently being refined, with construction slated to commence in 2024 and an anticipated opening in the summer of 2025. City Center Partners also unveiled their ambitious long-term plan, featuring the North Tryon Tech Hub, a long range plan that will span two decades.
Keith Stanley of University City Center emphasized the unprecedented growth of the University City submarket. Encompassing 8 square miles in North Charlotte, the area boasts 4,700 businesses, a population of 150,000, and a workforce of 100,000. Future developments along the boardwalk, a $40 million library and a research park that will be linked by a pedestrian bridge to UNC Charlotte, promise to further elevate the area’s stature.
Adam Rhew, representing SouthPark Community Partners, revealed that SouthPark is experiencing a surge of $1 billion in new development. Encompassing just one square mile, SouthPark is home to 100,000 residents and a workforce of 32,000. Notably, the newly established municipal service district, including the highly successful SouthPark Mall, underscores the area’s economic vitality. With ongoing renovations at Phillips Place and plans for experiential retail, SouthPark Community Partners is spearheading the 2035 Vision Plan, envisioning enhanced walkability, green spaces, and a vibrant park-centric environment.
Lastly, Christina Thigpen, representing Northwood Office and a board member of South Charlotte Partners, provided insights into the transformation of Ballantyne’s campus. The former golf course is evolving into a dynamic mixed-use development. Groundbreaking in 2021, Ballantyne’s revitalization has been supported by the City of Charlotte and Mecklenburg County with assistance with road and water enhancements. The “New Heart” of Ballantyne, encompasses both indoor and outdoor spaces, with Olde Mecklenburg Brewery anchoring the development with a 1-acre beer garden set to open next month. With plans for a 26-story residential tower, a 6-acre stream park, Amp @ Ballantyne which will be an outdoor concert venue, and Greenway acres facilitating connectivity to uptown via bike, Ballantyne’s reimagination promises to redefine contemporary living in Charlotte.
As these ambitious projects take shape, Charlotte is poised to not only maintain its status a major metropolitan hub but also emerge as a beacon of urban excellence, offering its resident and visitors unparalleled opportunities for living and thriving in all areas of the Queen City.
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