Writer: Eleana Teran
2 min read May 2023 — Charlotte’s historic heart is experiencing a remarkable transformation. Its rapid growth, driven by public and private investment, is reshaping the city’s landscape, boosting the local economy and redefining the urban living experience.
Shining a light on these developments, Charlotte Center City Partners recently released the Center City Progress Report, offering a comprehensive overview of the remarkable transformation taking place in the region. The document highlights 61 projects that are in various stages of development, from the early phases to successful completion. The report demonstrates the support of investors who continue to fuel Center City’s development and recognize the quality of the space and the competitive edge its location offers.
The transformation touches all areas of City Center, capturing the essence of each unique neighborhood, from the First Ward all the way to the South End. First Ward is redefining mixed-income housing, harmoniously blending the old with the new, while Second Ward is bolstering Charlotte’s reputation as a hospitality hotspot. Third Ward presents a unique mix of leisure and urban living, with new apartment towers, stadiums and a bustling university campus. Fourth Ward, steeped in history, is reviving its charm with modern amenities and the rise of the new SkyHouse towers.
Taking a more detailed look at each neighborhood illustrates the depth of development:
In addition to its existing 1,521 mixed-income residential units in the First Ward, 458 new units are in the pipeline. Its 4.6 million square feet of office space has an additional 432,000 square feet planned or currently under construction.
Second Ward, which has emerged as a hotbed for hotels and leisure, is planning to add 661 rooms to its existing 4,243 rooms. Additionally, the office and retail sectors are expanding, with 2.3 million square feet of office space and 348,000 square feet of retail in the pipeline.
Third Ward blends leisure with urban living, featuring 8.5 million square feet of existing office space and 2,598 existing residential units. It is in the process of adding 440,000 square feet of office space and 550 housing units to further enhance its offerings.
Meanwhile, Fourth Ward is blending its traditional charm with modern amenities and the rise of the SkyHouse towers. As part of its growth, the neighborhood has plans to introduce 654 additional residential units, complementing the existing 3,259 units in the area.
Similarly, Midtown is emerging as a dynamic gateway, with plans to nearly double its existing 1.2 million square feet of office space and add 2,033 residential units. The retail scene in the area is also set to expand, with 25,000 square feet in the pipeline.
South End is also undergoing a remarkable transformation, turning its industrial roots into a trendy urban neighborhood. The goal is to augment its already impressive 5.1 million square feet of office space by an additional 3.3 million square feet. The residential growth in the neighborhood is noteworthy, with 6,105 residential units in development, adding to the existing 8,569 units.
Several public projects are also poised to enhance the quality of life in Center City. These projects encompass major transit and infrastructure initiatives as well as the introduction of new amenities and the revitalization of public parks.
The remarkable growth of the region is fostering an inclusive, vibrant and economically thriving urban environment. These projects not only contribute to redefining the urban landscape but also create a promising future for the city and its residents. As a result, Center City continues to attract a diverse population of young professionals, with 69% of its residents holding a bachelor’s degree and 27% possessing a graduate degree or higher. According to CBRE’s Tech Talent Report, the city ranks among the Top 10 cities for the expansion of millennial and Gen Z tech workers, further solidifying its appeal.
The revitalization of City Center is also changing the workforce dynamics. In the first quarter of 2023, the working frequency in Uptown and South End rebounded to 74% of pre-pandemic levels, according to Charlotte Center City Partners. The South End exceeded this rate, reaching 110% when considering those primarily working from the office or in a hybrid arrangement. These trends are a testament to the dynamic, flexible and resilient nature of the Center City environment as it navigates the new normal and creates the foundations for further development.
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