85
J.T. Williams Lincoln Druid Hills University Heights North Park Oakview Terrace Washington Heights
Sugar Creek Lakewood Oaklawn Park Double Druid Hills Oaks South McCorey 85 Heights Tryon Hills
Enderly Smallwood Biddleville Greenville North Park Charlotte WEST Lockwood END Seversville Villa Optimist Heights Ashley Park Wesley Heights Park Plaza FOURTH WARD Hills 1 Mile 2 Miles THIRD 3 Miles WARD Belmont Bryant Park UPTOWN FIRST WARD Plaza Midwood
Westover West Boulevard Hills SECOND WARD Wilmore 74 MIDTOWN Commonwealth Revolution Brookhill Elizabeth Park SOUTH END Chantilly Cherry Dilworth Coliseum Southside Drive Center City Partners’ Park
Focus Area Includes: 74 • Uptown (Charlotte’s Central Business District - CBD) • South End Eastover • West End • Midtown Sedgefield Park Road/ The term Center City Myers Freedom Park refers to the ‘3 Mile Ring’ Park or the neighborhoods within 3 miles of “The Square” at Trade and Tryon streets.
Light Rail Streetcar Planned Streetcar OVERVIEW CONTENTS
The annual State of the Center City report highlights the growth and development of Charlotte’s urban core. 02 04 06 Development Work This report is prepared by Charlotte Center City Partners (CCCP), Changing a 501(c)4 not-for-profit corporation that envisions and implements Leagues strategies and actions to drive the economic, social and cultural development of Charlotte’s Center City.
The vision for Charlotte Center City is a viable, livable, memorable and sustainable place with modern infrastructure, a tapestry of great urban neighborhoods and a diversity of thriving businesses. 12 18 22 As defined in this report, Center City includes Uptown, which is Live Shop Play Charlotte’s Central Business District (CBD), South End and a portion of the Midtown neighborhood. Data associated with the term ‘3 Mile Ring’ pertains to the neighborhoods within 3 miles of “The Square” at Trade and Tryon streets.
28 32 On The Go On The Horizon Changing Leagues
Across Charlotte’s Center City you see transformation, growth, renewal and an overall heightening of the city and its national profile. We are more than merely one of America’s “cities to keep an eye on”. Charlotte’s Center City is one of the country’s fastest growing urban centers due to talent in–migration, transportation, investment, our quality of life, affordability and new development.
Looking beyond the cranes, and into the statistics, it is clear to see why Charlotte is changing leagues. Charlotte Center City ranks in the top 10 for U.S. downtown office construction, a list that includes Philadelphia, Seattle, Denver, Chicago and Dallas. In 2016, $2 billion in real estate projects were under construction, more than the entire period from 2010-2015. The cycle is far from complete, with another $2.7 billion of planned development.
Institutional investors have discovered Charlotte, driving the maturity of our office market. Since 2005, there has been a 72% increase in the amount of institutionally-owned office space in Uptown Charlotte, offering increased asset liquidity. This change has improved market fundamentals, making the city more attractive to a broader spectrum of investors and office developers.
As we have changed leagues, we have enjoyed an in-migration of diverse, educated talent that is outpacing our competitors. Professionals are moving here, particularly to our urban neighborhoods, drawn by the overall affordability of the city’s housing, the growing transportation network and our amenities. They stay for the quality of life they find from cycling to whitewater, breweries to ballet, and an opportunity to join us in shaping the city. This talent growth will continue to be strong within the financial services and fintech sectors, with rapid expansion of the professional, scientific and technical services jobs fueling Center City’s 20% employment increases projected over the next five years.
The eyes of the nation’s investors, businesses and talent are on Charlotte. Built on a foundation of game changing construction projects, peerless affordability and diverse urban amenities, it is easy to see why Charlotte Center City has changed leagues. Pat Riley Michael J. Smith Chairman, President & CEO Board of Directors
2 2016 Top Trends
On The Map For Growing Discovered By Amenities For Well Connected Investors Neighborhoods Retailers Everyone
5.3 Million Square Feet of 27,200 People Estimated 3.4 Million Square 18 Million Annual Visitors 4th Most Connected Office Planned or Under to Live in Center City Feet Leasable Retail in Uptown Airport in the World Construction in Center City 12% Lower Central 11% Increase in Hotel 40% of Charlotte’s $2.7 Billion Investment Business District Rents 6.2% Average Retail Occupancy Since 2010 Population Linked by Planned in Stonewall than Peer City Average Vacancy Rate Public Transportation Corridor 1 in 9 Work in Hospitality to Uptown 19% Increase in Average 847,000 Square Feet 7% Uptown Office Vacancy Home Sale Price Per of Retail Planned 2 Million+ Seats Filled 100,000 Charlotte Workers Square Foot Over 5 Years or Under Construction at Sporting Events can be in Uptown within 39% Lower Office Rent in in Uptown 15 Minutes Charlotte than U.S. Average $73,931 Average Uptown 22,300 Pedestrians Daily 17,500 New Degreed Household Income at Trade and Tryon 22.6 Miles of Light Rail Residents Move to and Streetcar Open Charlotte Each Year $105,305 Average or Under Construction Uptown Wage
3 Development FAST FACTS 5.3M Square Feet of Office Space Planned or Under Construction AN EXPANDING SKYLINE Development grows opportunity in 2016 The development boom continues completed in 2016. Six hotels 777,3 9 2 Square Feet of Retail at a brisk pace across all sectors. will open adding to a market Space Planned or Under In 2017, two new high-rise office with seven consecutive years of Construction towers will open in Uptown increasing occupancy and room adding needed product to the rates. Retail space continues market. Delivering to a market to be built including more than 9,725 where demand continues to 70,000 square feet of ground Housing Units Planned exceed supply, 11 multifamily floor conversions. or Under Construction projects under construction will add to over 2,200 units already 2,671 Hotel Rooms Planned or Under Construction
54% Multifamily Units Planned or Under Construction are in Center City
59% Square Feet of Office Space Under Construction is in Center City
PRESENTED BY
mvalaw.com
4 DEVELOPMENT
Upon completion, planned and under construction projects will yield enough space for 26,500 workers, 16,500 residents, 975,000 yearly overnight visitors and 88 new shops and restaurants.
Development in Center City accelerated in the second half of the decade. Driven by a strong economy, a solid talent pool and transportation infrastructure, developers have been eager to take on projects across all classes.
OFFICE RESIDENTIAL HOTEL RETAIL
2007 - 2011 2012 - 2016 2016 - 2020 8,432,139 5,937,986 13,429,847 SQUARE FEET SQUARE FEET SQUARE FEET
Source: Charlotte Center City Partners 5 Work FAST FACTS 7. 4 % Office Vacancy Rate in Uptown BUSINESS THRIVES Talent, infrastructure and investment come together $29.23 in Center City. Average Rent in Uptown
Center City offers a diverse services also play a key role business climate with a mix in Center City’s economy. The 729,000 of international, national and attraction is a high quality work Square Feet of Office regional firms. The financial force, a central location in a Space Planned or Under Construction in South End services industry has been joined robust region, and accessibility by a growing list of energy and and knowledge-sharing among technology firms. Health care, industries and firms. government and educational $22.78 Average Rent Per Square Foot in South End
PRESENTED BY
cbi-nc.com
6 WORK
“Center City Charlotte has been the perfect place for AvidXchange to thrive and develop into the largest software company headquartered in Charlotte. It combines everything we have needed to grow our business: access to talent, proximity to all of the amenities of Center City Charlotte and a unique real estate offering that appeals to our technical and creative workforce. This is why we are so excited about our move into our new corporate campus at the AvidXchange Music Factory.”
- Michael S. Praeger, Chief Executive Officer and Co-Founder, AvidXchange, Inc.
TALENT INFRASTRUCTURE INVESTMENT
15.6% 4+ 50% of the Jobs in Center City are in STEM Fields Providers Offering 1 GBPS in Uptown Increase in Annual Rate of Venture Capital Funding in Charlotte since 2010
44 49% 300MBS 4 $236M STEM Related Higher Growth in the Number Broadband Upgrade was State-of-the-Art Data of Venture Capital Funding was Invested in Charlotte Education Programs of Residents with Completed in 2015 Centers are Now Open Companies in 2015 Computer and Math in Uptown Degrees Since 2010
11 8 27% 74 40% Staffing Agencies Major Tech Consulting Lower Energy Costs than Wireless Communications of the State’s Top 25 Equity and Capital Firms are in with Concentrated Firms with Over $289 the National Average for Towers within 3 Miles Center City Accounting for Almost $6.7 Billion Focus on IT Million in Sales in 2015 Commercial Electric Rates of Uptown
7 WORK
CLASS A OFFICE SPACE IN CHARLOTTE
49% Central Business District
Uptown ranks within the top 10 central PERCENT OF OFFICE SPACE UNDER CONSTRUCTION IN CHARLOTTE business districts nationally for new office construction among Chicago, Atlanta, Denver and Seattle.
Uptown has almost half of the Class A office space in Mecklenburg 59% County. There are also numerous Class B and C options and nearly Central 100,000 square feet of coworking spaces. In 2016, the Charlotte Business market offered affordable rents, 39% below the national average. District
8 Sources: JLL WORK
The central business district commercial real estate market has matured with broad participation from institutional investors.
72% $247 Increase In Institutionally-Owned Office Space Average Price Per Square Foot For Uptown In Uptown Since 2005 Building Sales In 2016
Source: Charlotte Center City Partners
2016 MAJOR REAL ESTATE TRANSACTIONS
PRICE PER PROPERTY NAME BUILDING CLASS SALES PRICE SQUARE FEET SQUARE FOOT
One Wells Fargo Center A $284,000,000 986,000 $288
Carillon Building A $147,000,000 507,705 $289
South Tryon Square A $69,500,000 230,540 $301
Sources: Charlotte Center City Partners and County Tax Records
The 61 Uptown buildings participating in the Envision Charlotte program have seen a collective savings of over $17 million dollars from energy efficiency. 9 WORK
Center City employment is set to increase 20% by 2022.
The key to this rapid growth is concentration of high growth occupations centered within 3 mile radius of Trade and Tryon.
FASTEST GROWING EMPLOYMENT SECTORS IN CENTER CITY
50% 34% 34% Professional, Scientific Real Estate, Rental Finance and and Technical Services and Leasing Insurance
16% 16% 12% Arts, Entertainment Educational Health Care and and Recreation Services Social Assistance
Source: IMPLAN and NCESC
NUMBER OF DEGREE PROGRAMS IN CENTER CITY BY TYPE
Source: Charlotte Center City Partners
10 WORK
Center City provides an environment full of activity and amenities as well as the region’s most innovative and diverse selection of real estate, making it easy to attract talent.
The 5.3 million square feet of space being built in Center City is an ideal base for designing a modern, attractive, flexible work place while minimizing costs through reducing unutilized space. A movement toward open work spaces with less assigned seating can save on rent while creating a workplace that is more productive for modern work trends.
THE FUTURE OF WORK SPACE WORKING IN THE OFFICE
TODAY BY 2021 63% 156 125 5 Days a Week Square Feet Square Foot or More Per Person Per Person
23% 64% 78% 3-4 Days a Week Work in Work in Open Plan Open Plan 10% 1-2 Days a Week 11% 32% Work in Work in Unassigned Unassigned 4% Space Space Fully Remote
Sources: Knoll and CBI 11 Live FAST FACTS 27,2 0 0 Estimated Population in Center City LIVING AT ITS BEST Center City offers everything you need 16,500 With a mix of tree-lined single family The urban lifestyle is a strong Estimated Population in Uptown neighborhoods, condominium draw in the region. Apartment towers, maintenance-free town rents and home prices reflect the homes and modern mid-rise high demand. In 2016, Charlotte apartments with resort style Center City was one of the most 9,113 amenities, Center City offers active markets for apartment Estimated Population in South End residents an exciting array of development in the U.S., with living options. Transit options, national investors seeing ongoing sidewalks, parks and greenways growth potential for the market. and growing shopping and service 3,278 amenities means residents can Residential Units Under Construction or Completed leave the car at home. in Past 12 Months in Uptown 988 Residential Units Under Construction or Completed in Past 12 Months in South End
PRESENTED BY
elementuptown.com
12 LIVE
Charlotte is more affordable with home ownership attainable to
70% VERSUS 55% Of The Region’s Residents Across Peer Cities
Source: NAHB
The average carbon footprint for an Uptown household is 30% lower than overall for Mecklenburg County
MEDIAN HOME PRICE BY MARKET MEDIAN RENT COMPARISON $700K+ $1.4M +
Source: Zillow Source: Zillow 13 LIVE
UPTOWN
16 7 8 Coffee Shops Places for Fitness Schools and Daycares
35% 42 183 Walk to Work Acres of Parks Restaurants
42% 92% 88% Residents Have Enjoy a Cultural Event at Residents Regularly a Dog Least Once a Year Go to a Park
Source: Charlotte Center City Partners
UPTOWN AVERAGE RENT PER SQUARE FOOT UPTOWN AVERAGE HOME SALES PRICE PER SQUARE FOOT
Source: Carolinas Real Data Source: Zillow 14 LIVE
WEST END
3 5 4 Miles of Irwin and Stewart Churches Schools and Daycares Creek Greenways
74% 5 40 Johnson C Smith University Regional and Shops, Services Students Live on Campus Community Parks and Restaurants
Source: Charlotte Center City Partners
WEST END AVERAGE HOME SALES PRICE PER SQUARE FOOT West End is filled with tree- lined streets and inviting houses with front porches.
Interest in homes is high, as many are being renovated and restored. The community also offers affordable housing options and student housing to serve Johnson C. Smith University.
Source: Carolina MLS 15 LIVE
SOUTH END In 24 months, more than 1,600 new apartments have been delivered in South End. 7 13 2.25 Craft Breweries Miles of Rail Trail Places for Fitness During this time, reported vacancy rates and Bottle Shops at established complexes have stayed below 4%, indicating pent up demand.
8 7 13 Minute Average Commute Spots to Spoil Fido Gourmet Food Shops
Source: Charlotte Center City Partners
SOUTH END AVERAGE RENT PER SQUARE FOOT
Source: Carolinas Real Data
16 Source: Charlotte Center City Partners
LIVE
Center City is undergoing rapid growth, with much of it fueled by young, educated professionals eager to enjoy the opportunity to live in a vibrant place.
UPTOWN SOUTH END WEST END
24% 36% 32% of Uptown Residents Moved of South End Residents of West End Residents in From Out of State Moved in From Out of State Have Moved in Since 2010
74% 60% 16% of People Who Have of South End Residents of West End Residents Moved to Uptown Have a College Degree Moved in Prior to 1970 in 2015 Had a Bachelors or Graduate Degree
POPULATION GROWTH
Source: Charlotte Center City Partners
17 Shop FAST FACTS 1.31M Square Feet of Retail Space in Uptown SHOPPING IS POPPING Retail is Growing All Over Center City 22,300 Demand is high for shopping and These investments will add 70,000 Pedestrians a Day at Trade and Tryon in Uptown dining opportunities in Uptown square feet to the 470,000 square and South End. New concepts and feet of new space that is under established brands are flocking construction or proposed in here as space becomes available. Uptown. South End has almost 1.4M Real estate owners are responding 250,000 square feet of space Square Feet of Retail Space in South End to demand by reconfiguring planned or under construction, lobbies and unused areas to including an expansion of the accommodate ground floor retail. Atherton Market. 1,256 Pedestrians a Day on the Rail Trail at Sycamore Brewing
18 SHOP
Center City provides three unique markets for retailers: a rapidly growing group of affluent residents, a highly compensated workforce and business and leisure visitors.
MEDIAN HOUSEHOLD INCOME
UPTOWN SOUTH END MECKLENBURG COUNTY In 2017, Whole Foods will open $73,931 $65,225 $56,472 in Uptown at Stonewall Station, along with 440 residential units, AVERAGE EMPLOYEE WAGE additional retail space and a future hotel.
UPTOWN SOUTH END MECKLENBURG COUNTY $105,305 $55,275* $57,800
* Zip Code 28203 Source: U.S. Census
YEARLY CENTER CITY SPENDING POTENTIAL
YEARLY OVERNIGHT VISITORS WORKERS HOUSEHOLDS
1,400,000 116,850 15,276
Dining Out $82,320,000 $159,743,298 $46,866,768
Shopping $62,552,000 $445,567,746 $121,138,680
Groceries NA $97,097,676 $64,342,512
Entertainment $43,442,000 $20,962,890 $42,497,832
Total $188,314,000 $723,371,610 $274,845,792
Sources: ICSC and U.S. Census
19 SHOP
We are witnessing a truly exciting time for the “Center City. Retail and restaurant demand is limited by inventory rather than demand. The two biggest areas of opportunity are new development and site specific redevelopment.” - Adam Williams, Legacy Real Estate Advisors
RETAIL INVENTORY
UPTOWN SOUTH END MIDTOWN WEST END
Leasable Retail SF 1.31 M 1.44M 864,136 97,232
Vacant SF 44,312 50,814 8,933 5,377
Vacancy Rate 3.3% 3.7% 1.5% 5.5%
Under Construction 100,200 12,004 40,000 0
Under Renovation 70,476 0 0 0
Proposed 369,688 235,600 20,000 0
Average Asking Rent $32.85 $27.19 $23.71 $13.00
Source: Xceligent
The amount of renovated, under construction and proposed retail will increase retail space by 23% in Center City.
20 SHOP
RETAIL BUSINESS BY TYPE UPTOWN
UPTOWN SOUTH END
80% 20 19 5 Locally-Owned Vendors at the New Restaurants New Local Retail, 67% Locally- Poptopia Holiday Since 2014 Coffee Shops Owned Restaurants Market Since 2014
$292 Sales Per Square Foot, 7th Street Public Market in 2015
SOUTH END
82% 32% 14% 7 Locally-Owned Growth in Full Growth in Soft Craft Breweries Retail and Service Dining Goods Retailers and Bottle Shops Restaurants Since 2014 Since 2014
2,600 Attendees at the Small Business Saturday “By Design Pop Up”
Source: Charlotte Center City Partners 21 Play FAST FACTS 18M Regional Visitors to Uptown Per Year ENTERTAINMENT CAPITAL The Region’s Hub for Hospitality and Tourism 1,265 A packed events calendar, national 2016 continued to be a strong Hotel Rooms in Planning sports teams, a wide variety of year for hospitality with the cultural and performance venues seventh year in a row of increasing and highly regarded restaurants occupancy and room rates. This 1,406 and entertainment venues draw has prompted the development of Hotel Rooms Under in visitors from around the corner new hotels – eight in Uptown, two Construction and around the globe. The largest in South End and two in Midtown. segment of out-of-town visitors to Uptown Charlotte are those visiting 72% friends and family in the region. Hotel Occupancy Rate
11% Increase in Occupancy Rates Since 2010
95% Out of Town Visitors Would Recommend Center City to Other Visitors
PRESENTED BY
epicentrenc.com
22 PLAY
For the seventh consecutive year, Uptown hotels have seen growth in rates and occupancy.
The hospitality and leisure industry is the fourth largest employment sector in Charlotte, with more than 125,000 people, representing one in every nine employed residents of Charlotte.
UPTOWN HOTEL OCCUPANCY RATES AND AVERAGE DAILY RATES
Source: CRVA and STR 23 PLAY
Festivals and events activate Center City’s public spaces, creating lasting memories for residents, guests and workers.
Parades, cultural festivals and special events have turned Charlotte into a destination for guests from throughout the region. The diversity of Center City neighborhoods is reflected in celebrations and events like Taste of Charlotte, Soul Junction, Hola Charlotte, Speed Street, Charlotte Pride and CLT New Year’s Eve. All of these festivities heighten the fun, entertainment and enjoyment that can only be found in the urban core.
CENTER CITY FESTIVITIES
50+ 700+ 30 Events Produced by the Volunteers for the Novant Local Acts Performed at the Charlotte Center City Health Thanksgiving 2016 Soul Junction Music Partners Events Team Day Parade Festival in West End Each Year
The Novant Health Thanksgiving Day Parade is one of the largest in the nation.
50 12 130,000 Food Trucks Competed at Minute Firework Show at People Attended the 2016 the Carolina Food Truck the CLT New Year’s Eve Charlotte Pride Festival Challenge at the South End Celebration Presented Art & Soul Festival By Ally Bank
Source: Charlotte Center City Partners
24 PLAY
Yearly, over two million attendees experience the arts in Center City.
Performing arts and museums draw in people from around the region to Center City. World-class exhibits and performances can be enjoyed at state-of-the-art venues, bringing culture and creativity to our city. Programs such as the Bechtler’s “ArtBreak” program that encourages lunch hour visits and the “Piano Parking” program make art and music accessible to everyone.
YEARLY ATTENDANCE AT CENTER CITY ARTS, SCIENCE AND CULTURAL VENUES BY TYPE
Science 780,803
Art 208,057
Music 209,826
History 100,168
Theater 693,340
Dance 177,365
Source: ASC 25 PLAY
Four Professional sports teams HOME GAME ATTENDANCE call Uptown Charlotte home, making it easy to cheer for the CHARLOTTE CHARLOTTE CAROLINA CHARLOTTE home team any time of year. KNIGHTS HORNETS PANTHERS HOUNDS Joining the roster of sporting events are college 628,173 716,894 590,616 29,400 sporting championships, international soccer matches, Total Yearly Total Yearly Total Yearly Total Yearly cycling races, a regular schedule of running races and Attendance Attendance Attendance Attendance professional bull riding. For motorsports fans, Uptown is home to the NASCAR Hall of Fame and hosts Speed 70 41 8 7 Street, the yearly celebration of stock car racing. Games Games Games Games 8,974 17,485 73,827 4,200 Average Average Average Average Attendance Attendance Attendance Attendance
26 PLAY
RAIL TRAIL 3.5 Mile Urban Linear Park
2,000+ 62 16 5 Number of Users Bike Share Bikes Activities Along Run Clubs Use in a Day the Rail Trail the Rail Trail
6,600 3,885 $450,000 Residents Estimated Homes Immediately Private Investment The Rail Trail to Live Along the Adjacent to the Rail Trail With More Rail Trail $463,050 The Rail Trail is a 3.5 mile linear park that links Uptown to South End. on the Way In Grants It is a place to explore and enjoy, offering activities for all ages. Along the trail you can experience a musical park for children, an evening light show, a hexpong table and many other spots Within a block of the Rail Trail of art and activities to enjoy.
With multiple public art and activity areas, 24 17 13 4 the Rail Trail is more than just a walking path. Shops Restaurants Bars and Coffee shops Craft Breweries
Source: Charlotte Center City Partners 27 On The Go FAST FACTS 45,000+ Professionally Managed Parking Spaces WELL CONNECTED Uptown Charlotte Links the Region 51,000 Charlotte Center City is at the For drivers, there is plentiful Daily Blue Line Ridership by 2035 heart of a robust transportation parking and easy access via network. Charlotte Douglas two major interstates. Major International Airport offers investments are being made 160 non-stop destinations. to transit, bikeability and 15,247 A robust public transportation walkability. These investments Daily Blue Line Ridership network links 40% of the will link more people to the most county’s population to Uptown. employment and amenity rich Pedestrians find Uptown and center in North Carolina. 1,748 South End walkable. Weekday Gold Line Ridership 208 Bike Share Bikes at 25 Stations 15 Minute Drive to the Airport from Trade and Tryon 160 Non-Stop Domestic Destinations
28 ON THE GO
The Charlotte Douglas International Airport is considered the fourth most connected airport in the world.
The airport is convenient to Uptown — just a 15 minute drive and served by a direct CATS Sprinter bus. All of the major cities on the eastern seaboard can be accessed within two hours via air.
DIRECT FLIGHTS FROM CHARLOTTE
FLIGHT TIMES
UNDER 1 HOUR
UNDER 2 HOURS
UNDER 3 HOURS
3 HOURS OR MORE 8 Direct Flights to Europe
7 Direct Flights to the Caribbean, Central America, South America
29 ON THE GO
Over 475,000 workers live within a 30-minute commute of Uptown and more than 100,000 can arrive in Uptown within 15 minutes.
UPTOWN WORKER COMMUTE BY DISTANCE
42% 37% 5.7% 15% Less Than 10 Miles 10 - 24 Miles 25 - 50 Miles 50 Miles+
Source: U.S. Census
TRANSPORTATION OPTIONS FOR COMMUTERS
47 50 8 18 CATS Park and Ride Electric Vehicle Light Rail Stops, Express Bus Routes Lots Offering Free Charging Stations Gold Rush and 6 and 26 Local Parking for in Uptown and Streetcar Stops Routes Serve Transit Users South End Serve Center City Uptown
Sources: Charlotte Center City Partners and CATS
PUBLIC PARKING BY WARD
WARD SPACES AVERAGE RATE DAILY RATE
First 9,041 $103 $10
Second 17,950 $133 $15
Third 11,081 $146 $18
Fourth 8,502 $102 $12
Total 46,574 $122 $14 Source: CCCP. Does not include on street parking. 30 ON THE GO
Shaded sidewalks, bike infrastructure and greenways make walking and biking in Center City easy.
Uptown and South End score as a “Walker’s Paradise” on WalkScore.com. It is simple to park your car or hop off of transit and walk or bike to all of the amenities Center City has to offer. Walkable lifestyle ranks as one of the top three reasons people move to Uptown and South End.
PEDESTRIAN COUNTS
25,000 2,000+ 4,959 Pedestrians at Pedestrians on Average Number of B-Cycle Trade and Tryon Daily Rail Trail Daily Trips in a Month
SHOPS AND RESTAURANTS WITHIN WALKING DISTANCE OF TRADE AND TRYON
5 Minutes 148 Shops and Restaurants
10 Minutes 217 Shops and Restaurants
15 Minutes 233 Shops and Restaurants
Source: Charlotte Center City Partners 31 On The Horizon FAST FACTS 11.8 Miles of Light Rail and Street Car Network Under Construction VISION GROWING A Dynamic Central Business District Center City is currently in demand growth from residents, 60 Blocks Strategically Planned the midst of one of its most employers and visitors. The in the North Tryon Area dynamic eras of growth. The vision is to create a dynamic, convergence of public sector vibrant and accessible place projects and private investment for people to flourish. Projects is reshaping the urban core to planned and currently underway 26 Miles of Multi-Use Pathway accommodate significant support that vision. Will Connect to Uptown on the Cross Charlotte Trail 27 Acres for Mixed Use Development Around the Planned Charlotte Gateway Station 17 Acres Along Stonewall Street Corridor Being Developed
32 ON THE HORIZON
Stonewall Corridor
Cranes, bulldozers and construction fences lined Stonewall Street throughout 2016 and will continue to rise through 2017. The corridor is undergoing a massive transition into a street lined with an energetic mix of office, retail, residential and hotel. Eight unique projects are planned or under construction and will bring 2.7 million square feet of office space, 378,000 square feet of retail space, 850 hotel rooms and over 2,600 residential units. In 2017, Whole Foods at Stonewall Station will open, along with 440 residential units, additional retail space and a future hotel.
In addition to over $2.7 billion in private investment, the corridor is also benefiting from public investment. Current projects being considered include pedestrian and streetscape improvements and plans for a protected bikeway through the corridor.
33 ON THE HORIZON
Uptown Connects Gateway Station Transit
The Charlotte Department of Transportation is Planning continues for Gateway Station, The Gold Line is a 10-mile streetcar system working on a project called “Uptown Connects” Charlotte’s future iconic multimodal transit linking Uptown to neighborhoods to the east to link the city’s greenway system and future terminal linking Amtrak, commuter rail, street and west. The first 1.5 mile leg is operational 26-mile Cross Charlotte Trail for bicyclists and car and bus service. The main station will from the transit center to Elizabeth. Construc- pedestrians. The project is in the planning be located between West Trade, Fourth and tion has begun on the 2.5 mile leg linking the stages gathering citizen input and identifying Graham Streets and the rail line. A mix of uses Transit Center to Historic West End. corridors that can accommodate protected and will also be developed around the station unprotected bikeways within Uptown. By 2019, creating a new employment, residential The 9.3 mile Blue Line extension is set to it is anticipated that cyclists and pedestrians and retail hub at the heart of the region’s open in August 2017 and will link Uptown to will be able to travel from just north of Uptown transit network. The city was awarded a the UNC Charlotte Campus. This will create to Pineville on a protected trail. $25 million grant from the U.S. Department 18.6 miles of light rail service and add 3,200 of Transportation partially funding the station. Park and Ride spaces for commuters.
34 ON THE HORIZON
North Tryon Vision Plan South End Vision Plan West End Capital Improvements
In 2017, the implementation of the North The South End Vision Plan is a new effort There is incredible momentum with public Tryon Vision Plan will begin. The plan lead by Charlotte Center City Partners and and private investment in Historic West End, covers almost 60 blocks of vacant or the Charlotte Planning Department focused including the extension of the Gold Line underutilized land in the northern end of on guiding future growth and development Street Car. This $150 million investment will Uptown. The transformative urban design of the district. Between Fall 2016 and Spring connect West End to Uptown. Construction is plan recommends a mixed-use district 2017, South End stakeholders will work with scheduled to complete in the first quarter of that includes office, retail and housing, urban design firm Stantec to prepare a 2020. Additionally, the City’s Comprehensive while making activities in the district’s community-driven vision for the area’s future. Neighborhood Improvement Program (CNIP) existing, extensive cultural resources more aims to strategically invest $20 million transparent and integrated. The ultimate in infrastructure. There are a total of 23 goal is a district encouraging innovation and recommended projects in this geography, knowledge, while encompassing a diverse five of which are directly in the West Trade mix of people and businesses. corridor surrounding Johnson C. Smith University and Five Points.
35 Acknowledgments
BOARD OF DIRECTORS CREDITS THANK YOU TO OUR BROUGHT TO YOU BY SPONSORS
Pat Riley - Chairman Thomas Finke Tom Murray DESIGN PRESENTING SPONSOR Allen Tate Companies Babson Capital Charlotte Regional Visitors Rachel Martin Design Authority rachelmartindesign.com Dr. Claude Alexander David Furman The Park Church Centro CityWorks Tom Nelson National Gypsum PHOTOGRAPHY Austin Caine cbi-nc.com Jennifer Appleby Marcus Jones charlottecentercity.org Wray Ward City of Charlotte Mike Praeger austincaine.com AvidXchange Robert Bush Lynne Tatum Little Bella Loren SECTION SPONSORS Arts & Science Council Consultant Ernie Reigel bellaloren.com Moore & Van Allen Debra Campbell Carol Lovin City of Charlotte Carolinas HealthCare Pat Rodgers Patrick Schneider mvalaw.com System Rodgers Builders patrickschneiderphoto.com Dr. Ronald Carter Johnson C. Smith University Dr. Michael Marsicano Ella Scarborough historicsouthend.com Foundation For The Mecklenburg County Board Laura Wolff Ann Clark Carolinas of Commissioners lwolffphoto.com Charlotte-Mecklenburg Schools Melissa McGuire Terry Shook Sherpa Shook Kelley elementuptown.com Jesse Cureton Novant Health James Mitchell Doug Stephan Charlotte City Council Vision Ventures Dr. Kandi Deitemeyer Central Piedmont Dr. Robert Mock Krista Tillman Community College Johnson & Wales University Consultant
Dena Diorio Bob Morgan Lloyd Yates Mecklenburg County Charlotte Chamber Duke Energy epicentrenc.com of Commerce David Dooley CBI Katie Morgan Bank of America Dr. Phil Dubois UNC Charlotte Danny Morrison Carolina Panthers Rob Engel Wells Fargo
36 Charlotte, NC | Raleigh, NC | Piedmont-Triad, NC Greenville, SC | Charleston, SC | Knoxville, TN Chattanooga, TN | Miami, FL | Jacksonville, FL American City Business Journal cbi-nc.com Fort Lauderdale, FL PRODUCED BY CHARLOTTE CENTER CITY PARTNERS 200 SOUTH TRYON STREET, SUITE 1600 | CHARLOTTE, NC 28202 | 704.332.2227