Author: Manager

Brownfield Redevelopment and Community Revitalization

Submitted by Diana Quarry

CREW Charlotte members gathered on November 14, 2017 for a discussion of the North Carolina Brownfields Program, and learned how developers are utilizing the program to restore and breathe new life into previously contaminated areas of Charlotte.  The panel of speakers included Joselyn Harriger, a project manager with the North Carolina Department of Environmental Quality, Susan Cooper, an environmental law attorney with Womble Bond Dickinson (US) LLP, and Brett Phillips, Executive Vice President with Lincoln Harris.  The panel was moderated by CREW Charlotte board member Christie Zawtocki, Principal at Hart & Hickman, PC.

The Brownfields Program serves as an effective tool in encouraging developers to undertake a clean-up of a contaminated site and redevelop the property to serve the needs of the Charlotte community. As Ms. Harriger discussed, developers who take advantage of the Program by entering into a Brownfields Agreement with the DEQ receive liability protection indefinitely (which passes along to future owners of the property, increasing the marketability of a property) and steep tax cuts for five years after development on the property begins. In exchange for these benefits, the developer agrees to remove contaminants for the property and complete an agreed-upon scope of remediation at the site to ensure it is safe for occupancy. The Brownfields Agreement will also impose certain land use restrictions on the property, which vary from site to site depending on the type of contamination that was present. For example, Ms. Cooper indicated that if a property has groundwater contamination, a Brownfields Agreement may likely state that the site cannot be used for a school, daycare facility, or certain residential uses, even once the developer completes the required remediation on the site. Despite these restrictions, Ms. Cooper discussed how the economic incentives can still make a project appealing to developers who may otherwise be deterred from assuming ownership of a contaminated property.

Mr. Phillips discussed how Lincoln Harris was recently able to leverage the benefits of the Program in connection with their new Legacy Union project, located at the old Charlotte Observer site. Having been used for printing operations for years, Lincoln Harris (which is redeveloping the site in partnership with Goldman Sachs) knew that there could be significant contamination from ink at the property.  Mr. Phillips and Ms. Harriger, who acted as the project manager for Legacy Union, worked together for nearly a year on the project.  They first established the project’s eligibility to participate in the Program, and worked through the terms of the Brownfields Agreement. Mr. Phillips discussed how the tax incentives that the Program offered made the redevelopment feasible and economically attractive.

Old Places, New Spaces: The Redevelopment of the North Tryon Corridor

On October 10, 2017, pioneers Matt Browder, Principal of Browder Group Real Estate and Jay Levell, co-founder of White Point Partners, held a lively discussion on their recent purchases of the 2205 N. Tryon building and Tompkins Hall.  They shared with us their initial vision, the challenges they faced, and the success they have had in activating the properties, both of which had long been vacant.

Specifically, Browder saw 2205 N. Tryon as an opportunity that couldn’t be passed up. The 85,000 square feet of vacant buildings sits in the center of the proposed North Tryon Street one-way corridor plan. With all of the growth in Charlotte, Browder really saw this area of North Charlotte as the last frontier. As surrounding rents continue to increase, 2205 N. Tryon has been able to accommodate tenants at lower rates.

White Point Partners had a unique vision for Tompkins Hall. The project started with an idea to turn an old textile mill, built in the 1890’s, into a food hall with additional space for restaurants, retail, and office. The project, when complete, will include all of the original pine and hardwoods. The food hall will be approximately 20,000 square feet with 19 separate stalls for food vendors and a 10,000 square foot seating area and terrace. In addition to the original food hall, the project also includes another 83,000 square feet of creative office that has already been leased to Duke Energy. The access to the light rail and the major highways made this an ideal location. Duke Energy's "forward-thinking vision" matched the firms' intention of creating a center of collaboration and innovation at Tompkins Hall.

Both projects have taken existing buildings and created a new sense of place. Pure Intentions Coffee, located in the 2205 N. Tryon building, will be the host for our December Before Hours event. Come join us in supporting this new business venture and concept on December 7^th.

August 2017 Luncheon – A Tour of 615 South College

At our August Luncheon we toured 615 South College – an 18-story, 371,000 square-foot Class-A office building in downtown Charlotte. The building is a tribute to the world-renowned John Portman & Associates and developed by Portman Holdings. The two-story corner balconies and floor-to-ceiling windows provide amazing views of Charlotte’s uptown skyline as well as nearby South End. Amenities include an outdoor green space that connects the building to Stonewall Station – downtown’s first light rail stop and also home to uptown’s first Whole Foods opening later this year.

John Ball, the leasing agent with Trinity Partners, spoke to the group about the building’s first tenants including Regions Bank, co-working giant WeWork, Eric Mower and Associates, Sitehands, and global accounting firm BDO. 615 South College is just steps away from the city’s professional sports arenas, parks, and the Charlotte Convention Center, and built atop the parking deck of the Portman-developed and owned Westin Charlotte.