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2016 State of the Center City Report

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2016 State of the Center City Report OF THE 2016 STATE CENTER CITY Presenting Sponsor Sponsored by Sponsored by OVERVIEW CONTENTS The annual State of the Center City report highlights the 03 Creating Tomorrow’s Vibrancy growth and development of Charlotte’s urban core. This report is prepared by Charlotte Center City Partners (CCCP), a 501(c)4 not-for-profit corporation that envisions and implements strategies and actions to drive the economic, 04 Development Snapshot social, and cultural development of Charlotte’s Center City. The vision for Charlotte Center City is a viable, livable, 06 Work memorable and sustainable place with modern infrastructure, a tapestry of great urban neighborhoods, and a diversity of thriving businesses. As defined in this report, Center City includes Uptown, which is Charlotte’s Central Business 12 Live 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” 18 Shop at Trade and Tryon streets. 22 Play 26 On the Go 30 Sustainability 32 On the Horizon 85 85 J.T. J.T. Williams Williams Hills Druid Lincoln Lincoln Druid Hills University University North Heights Heights North Park Park Oakview Oakview Terrace Terrace Washington Washington Heights Heights Creek Sugar Sugar Creek Oaklawn Lakewood Lakewood Oaklawn Hills Druid Double Park Park Double Druid Hills South Oaks Oaks South McCorey McCorey Hills Tryon Heights 85 85 Heights Tryon Hills Enderly Enderly North Greenville Biddleville Smallwood Smallwood Biddleville Greenville North Charlotte Park Park Charlotte Lockwood WEST WEST Lockwood END END Seversville Seversville Villa Villa Heights Optimist Optimist Heights Park Ashley Ashley Park Plaza Park Heights Wesley Wesley Heights Park Plaza FOURTH FOURTH Hills WARD WARD Hills Mile 1 1 Mile Miles 2 2 Miles THIRD THIRD Belmont WARD Miles 3 3 Miles WARD Belmont FIRST UPTOWN Park Bryant Bryant Park UPTOWN FIRST Midwood Plaza WARD WARD Plaza Midwood Westover Westover SECOND Hills Boulevard West West Boulevard Hills SECOND WARD WARD Wilmore Wilmore 74 74 Commonwealth MIDTOWN MIDTOWN Commonwealth Revolution Revolution Elizabeth Brookhill Brookhill Elizabeth SOUTH Park Park SOUTH END END Chantilly Chantilly Cherry Cherry Dilworth Dilworth Coliseum Coliseum Drive Southside Southside Drive Park Partners’ City Center Center City Partners’ Park 74 Includes: Area Focus Focus Area Includes: 74 Central (Charlotte’s Uptown • • Uptown (Charlotte’s Central CBD) - District Business Business District - CBD) End South • • South End Eastover Eastover • West End End West • • West End Sedgefield town Mid • • Midtown Sedgefield Road/ Park Park Road/ Myers City Center term The The term Center City Myers Park Freedom Freedom Park Park Ring’ Mile ‘3 the to refers refers to the ‘3 Mile Ring’ Park the neighborhoods within within neighborhoods the or or the neighborhoods within at re” Squa he “T of miles 3 3 miles of “The Square” at streets. Tryon and ade Tr Trade and Tryon streets. il Ra ght Li Light Rail car Street Streetcar treetcar S d Planne Planned Streetcar Planned Streetcar Streetcar Light Rail Trade and Tryon streets. 3 miles of “The Square” at or the neighborhoods within Park refers to the ‘3 Mile Ring’ Freedom Park The term Center City Myers Park Road/ • Midtown Sedgefield • West End Eastover • South End Business District - CBD) • Uptown (Charlotte’s Central 74 Focus Area Includes: Center City Partners’ Park Southside Drive Coliseum Dilworth Cherry Chantilly END Park SOUTH Elizabeth Brookhill Revolution Commonwealth MIDTOWN 74 Wilmore WARD Hills West Boulevard SECOND Westover WARD Plaza Midwood Bryant Park FIRST UPTOWN Belmont 3 Miles WARD THIRD 2 Miles 1 Mile WARD Hills FOURTH Wesley Heights Plaza Park Ashley Park Optimist Heights Villa Seversville END Lockwood WEST Charlotte Park Smallwood Biddleville Greenville North Enderly Tryon Hills Heights 85 McCorey South Oaks Druid Hills Double Park Oaklawn Lakewood Sugar Creek Heights Washington Terrace Oakview Park North Heights University Druid Hills Lincoln Williams J.T. 85 85 J.T. Williams Lincoln Druid Hills University CREATING TOMORROW’S VIBRANCY Heights North Park Oakview Terrace Washington Heights Sugar Creek Lakewood Oaklawn Great cities create the context for tomorrow’s vibrancy through long-term visioning, strategic investments in infrastructure and public-private Park Double Druid Hills partnerships. Charlotte Center City is well positioned to serve this role for decades to come. Oaks South McCorey 85 Heights Tryon Hills There is a megatrend in the office market that employers are returning to downtowns and Charlotte is uniquely positioned to respond. A report published last year by Smart Growth America highlights this trend. In 1960, the report says, 63 percent of American jobs were within three Enderly miles of the center city. That number plunged to 16 percent in 1996. But today, it is on the rise: nearly 25 percent nationally and approaching Smallwood Biddleville Greenville North Park Charlotte 33 percent in Charlotte. WEST Lockwood END Seversville This movement is led by the most innovative companies that are choosing walkable, bikeable, transit oriented mixed-use environments. The Villa Smart Growth America report included interviews with 500 chief executives who were asked why they made the decision to return to the urban Optimist Heights core. Their overwhelming response was “to attract and retain the best talent.” Charlotte Center City offers just such a setting—one that is an Ashley Park Wesley Heights Park Plaza FOURTH asset to companies that are repositioning toward innovation, sustainability and the 21st Century economy. We are creating new office inventory WARD Hills 1 Mile for these companies, with more than 3 million square feet of office space planned or under construction in Center City, bringing our total to more than 26 million square feet, or almost 44 percent of the office space in Charlotte. 2 Miles THIRD 3 Miles WARD Belmont Bryant Park UPTOWN FIRST Center City is becoming a complete place in a myriad of ways. We continue to expand the light rail system another 9.3 miles (opening in 2017) Plaza Midwood WARD and to expand streetcar 2.5 miles (opening in 2019). More than 4,500 residential units are under construction. The 4-acre First Ward Park opened Westover in December, sewing together two great Uptown neighborhoods. We are enjoying a retail awakening with national and local shops opening West Boulevard Hills SECOND their doors in 2015. Additionally, more than 2,000 new hotel rooms, an increase of 49 percent, will be delivered in Center City, making it a more WARD Wilmore attractive destination for visitors. 74 MIDTOWN Commonwealth Major moves in 2015 are creating city-changing opportunities for the next year and beyond. In Third Revolution Brookhill Elizabeth Park SOUTH Ward, the federal government is helping fund the Charlotte Gateway Station project investing a END $25 million TIGER grant that will stimulate the transformation of underutilized acreage into a dense Chantilly Cherry employment, residential and retail center. The North Tryon Vision Plan articulates our aspirations Dilworth for a new development pattern and rich cultural activation of the 50 square blocks between 6th, Coliseum Poplar, Brevard and 12th streets. South End is preparing to welcome its first major mixed-use office Southside Drive project, thousands of new residents and innovative development around the Rail Trail. We have Center City Partners’ Park launched a new initiative in Historic West End where the business corridor and neighborhoods are Focus Area Includes: 74 well positioned for quality jobs, investment and development. These initiatives will create the context • Uptown (Charlotte’s Central Business District - CBD) for tomorrow’s vibrancy. • South End Eastover • West End • Midtown Sedgefield As we move into 2016, we enjoy a defining period of creation, with a collective opportunity and Park Road/ The term Center City Myers Pat Riley Michael J. Smith obligation to create Charlotte’s unique and beloved places. Join us on this journey. Freedom Park refers to the ‘3 Mile Ring’ Park Chairman, President & CEO or the neighborhoods within Board of Directors 3 miles of “The Square” at Trade and Tryon streets. Light Rail Streetcar Planned Streetcar 3 Planned Streetcar Streetcar Light Rail Trade and Tryon streets. 3 miles of “The Square” at or the neighborhoods within Park refers to the ‘3 Mile Ring’ Freedom Park The term Center City Myers Park Road/ • Midtown Sedgefield • West End Eastover • South End Business District - CBD) • Uptown (Charlotte’s Central 74 Focus Area Includes: Center City Partners’ Park Southside Drive Coliseum Dilworth Cherry Chantilly END Park SOUTH Elizabeth Brookhill Revolution Commonwealth MIDTOWN 74 Wilmore WARD Hills West Boulevard SECOND Westover WARD Plaza Midwood Bryant Park FIRST UPTOWN Belmont 3 Miles WARD THIRD 2 Miles 1 Mile WARD Hills FOURTH Wesley Heights Plaza Park Ashley Park Optimist Heights Villa Seversville END Lockwood WEST Charlotte Park Smallwood Biddleville Greenville North Enderly Tryon Hills Heights 85 McCorey South Oaks Druid Hills Double Park Oaklawn Lakewood Sugar Creek Heights Washington Terrace Oakview Park North Heights University Druid Hills Lincoln Williams J.T. 85 DEVELOPMENT FAST FACTS SNAPSHOT 2015 was a busy year for groundbreakings in Center City. More than 1,000 new apartments came on the MILLION market. Moving into 2016, construction is active on 1.34 8,772 Square Feet Of Office Space Under Housing Units In Planning 29 projects with an additional 25 planned projects. Construction Or Under Construction New Center City development opportunities include 2 “build to suit” and 3 speculative office towers under construction. This activity illustrates the 2.19 MILLION 53% growing demand for the Center City office market, Square Feet Of Office Space Multifamily Housing Units strong office building sales and the national trend In Planning In Planning Or Under Construction for businesses returning to the downtown core. Are In Center City Apartments are leasing at record high rents, meeting pent-up demand for people wanting to live in Center City.
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