J.T. Williams Druid Hills North. Lincoln Heights. Oaklawn. Park. Double Oaks. Druid Hills South. McCorey. Heights. Greenville. Biddleville WEST UPTOWN
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2 85 Oakview Terrace University Park Washington Heights Lincoln Heights J.T. Williams Druid Hills North 85 Lakewood Oaklawn Park McCorey Heights Double Oaks Druid Hills South Tryon Hills Sugar Creek 1 Mile Ashley Park Enderly Park Smallwood Seversville Wesley Heights Biddleville WEST END Greenville FOURTH WARD Lockwood Optimist Park Villa Heights North Charlotte Plaza Hills 2 Miles 3 Miles Bryant Park THIRD WARD UPTOWN FIRST WARD Belmont Plaza Midwood West Boulevard Revolution Park Westover Hills Wilmore Brookhill SOUTH END Dilworth SECOND WARD MIDTOWN Cherry 74 Elizabeth Commonwealth Chantilly Center City Partners Focus Area Includes: Uptown (Charlotte s Central Business District - CBD) South End West End Midtown The term Center City refers to the 3 Mile Ring or the neighborhoods within 3 miles of The Square at Trade and Tryon streets. Southside Park Sedgefield Park Road/ Freedom Park Myers Park Eastover Coliseum Drive 74 Light Rail Streetcar Planned Streetcar
3 OVERVIEW CONTENTS The annual State of the Center City report highlights the 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, social and cultural development of Charlotte s Center City. 02 Changing Leagues 04 Development 06 Work 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. As defined in this report, Center City includes Uptown, which is 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. 12 Live 18 Shop 22 Play 28 On The Go 32 On The Horizon
4 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 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 Chairman, Board of Directors Michael J. Smith President & CEO 2
5 2016 Top Trends On The Map For Investors Growing Neighborhoods Discovered By Retailers Amenities For Everyone Well Connected 5.3 Million Square Feet of Office Planned or Under Construction $2.7 Billion Investment Planned in Stonewall Corridor 7% Uptown Office Vacancy 39% Lower Office Rent in Charlotte than U.S. Average 27,200 People Estimated to Live in Center City 12% Lower Central Business District Rents than Peer City Average 19% Increase in Average Home Sale Price Per Square Foot Over 5 Years in Uptown 17,500 New Degreed Residents Move to Charlotte Each Year 3.4 Million Square Feet Leasable Retail in Center City 6.2% Average Retail Vacancy Rate 847,000 Square Feet of Retail Planned or Under Construction $73,931 Average Uptown Household Income $105,305 Average Uptown Wage 18 Million Annual Visitors in Uptown 11% Increase in Hotel Occupancy Since in 9 Work in Hospitality 2 Million+ Seats Filled at Sporting Events 22,300 Pedestrians Daily at Trade and Tryon 4th Most Connected Airport in the World 40% of Charlotte s Population Linked by Public Transportation to Uptown 100,000 Charlotte Workers can be in Uptown within 15 Minutes 22.6 Miles of Light Rail and Streetcar Open or Under Construction 3
6 Development AN EXPANDING SKYLINE Development grows opportunity in 2016 The development boom continues at a brisk pace across all sectors. In 2017, two new high-rise office towers will open in Uptown adding needed product to the market. Delivering to a market where demand continues to exceed supply, 11 multifamily projects under construction will add to over 2,200 units already completed in Six hotels will open adding to a market with seven consecutive years of increasing occupancy and room rates. Retail space continues to be built including more than 70,000 square feet of ground floor conversions. FAST FACTS 5.3M Square Feet of Office Space Planned or Under Construction 777,392 Square Feet of Retail Space Planned or Under Construction 9,725 Housing Units Planned or Under Construction 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
7 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 ,432,139 SQUARE FEET ,937,986 SQUARE FEET ,429,847 SQUARE FEET Source: Charlotte Center City Partners 5
8 Work BUSINESS THRIVES Talent, infrastructure and investment come together in Center City. Center City offers a diverse business climate with a mix of international, national and regional firms. The financial services industry has been joined by a growing list of energy and technology firms. Health care, government and educational services also play a key role in Center City s economy. The attraction is a high quality work force, a central location in a robust region, and accessibility and knowledge-sharing among industries and firms. FAST FACTS 7.4% Office Vacancy Rate in Uptown $29.23 Average Rent in Uptown 729,000 Square Feet of Office Space Planned or Under Construction in South End $22.78 Average Rent Per Square Foot in South End PRESENTED BY cbi-nc.com 6
9 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% of the Jobs in Center City are in STEM Fields 4+ Providers Offering 1 GBPS in Uptown 50% Increase in Annual Rate of Venture Capital Funding in Charlotte since STEM Related Higher Education Programs 49% Growth in the Number of Residents with Computer and Math Degrees Since MBS Broadband Upgrade was Completed in State-of-the-Art Data Centers are Now Open in Uptown $236M of Venture Capital Funding was Invested in Charlotte Companies in Staffing Agencies with Concentrated Focus on IT 8 Major Tech Consulting Firms with Over $289 Million in Sales in % Lower Energy Costs than the National Average for Commercial Electric Rates 74 Wireless Communications Towers within 3 Miles of Uptown 40% of the State s Top 25 Equity and Capital Firms are in Center City Accounting for Almost $6.7 Billion 7
10 WORK CLASS A OFFICE SPACE IN CHARLOTTE 49% Central Business District Uptown ranks within the top 10 central business districts nationally for new office construction among Chicago, Atlanta, Denver and Seattle. PERCENT OF OFFICE SPACE UNDER CONSTRUCTION IN CHARLOTTE Uptown has almost half of the Class A office space in Mecklenburg County. There are also numerous Class B and C options and nearly 100,000 square feet of coworking spaces. In 2016, the Charlotte market offered affordable rents, 39% below the national average. 59% Central Business District 8 Sources: JLL
11 WORK The central business district commercial real estate market has matured with broad participation from institutional investors. 72% Increase In Institutionally-Owned Office Space In Uptown Since 2005 $247 Average Price Per Square Foot For Uptown Building Sales In 2016 Source: Charlotte Center City Partners 2016 MAJOR REAL ESTATE TRANSACTIONS PROPERTY NAME BUILDING CLASS SALES PRICE SQUARE FEET PRICE PER SQUARE FOOT One Wells Fargo Center A $284,000, ,000 $288 Carillon Building A $147,000, ,705 $289 South Tryon Square A $69,500, ,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
12 WORK Center City employment is set to increase 20% by 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% Professional, Scientific and Technical Services 34% Real Estate, Rental and Leasing 34% Finance and Insurance 16% Arts, Entertainment and Recreation 16% Educational Services 12% Health Care and Social Assistance Source: IMPLAN and NCESC NUMBER OF DEGREE PROGRAMS IN CENTER CITY BY TYPE Source: Charlotte Center City Partners 10
13 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 Square Feet Per Person 125 Square Foot Per Person 63% 5 Days a Week or More 64% Work in Open Plan 11% Work in Unassigned Space 78% Work in Open Plan 32% Work in Unassigned Space 23% 3-4 Days a Week 10% 1-2 Days a Week 4% Fully Remote Sources: Knoll and CBI 11
14 Live LIVING AT ITS BEST Center City offers everything you need With a mix of tree-lined single family neighborhoods, condominium towers, maintenance-free town homes and modern mid-rise apartments with resort style amenities, Center City offers residents an exciting array of living options. Transit options, sidewalks, parks and greenways and growing shopping and service amenities means residents can leave the car at home. The urban lifestyle is a strong draw in the region. Apartment rents and home prices reflect the high demand. In 2016, Charlotte Center City was one of the most active markets for apartment development in the U.S., with national investors seeing ongoing growth potential for the market. FAST FACTS 27,200 Estimated Population in Center City 16,500 Estimated Population in Uptown 9,113 Estimated Population in South End 3,278 Residential Units Under Construction or Completed 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
15 LIVE Charlotte is more affordable with home ownership attainable to 70% 55% Of The Region s Residents Source: NAHB VERSUS Across Peer Cities The average carbon footprint for an Uptown household is 30% lower than overall for Mecklenburg County MEDIAN HOME PRICE BY MARKET $700K+ $1.4M + MEDIAN RENT COMPARISON Source: Zillow Source: Zillow 13
16 LIVE UPTOWN 16 Coffee Shops 7 Places for Fitness 8 Schools and Daycares 35% Walk to Work 42 Acres of Parks 183 Restaurants 42% Residents Have a Dog Source: Charlotte Center City Partners 92% Enjoy a Cultural Event at Least Once a Year 88% Residents Regularly Go to a Park UPTOWN AVERAGE RENT PER SQUARE FOOT UPTOWN AVERAGE HOME SALES PRICE PER SQUARE FOOT 14 Source: Carolinas Real Data Source: Zillow
17 LIVE WEST END 3 Miles of Irwin and Stewart Creek Greenways 5 Churches 4 Schools and Daycares 74% Johnson C Smith University Students Live on Campus Source: Charlotte Center City Partners 5 Regional and Community Parks 40 Shops, Services and Restaurants WEST END AVERAGE HOME SALES PRICE PER SQUARE FOOT West End is filled with treelined 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
18 LIVE SOUTH END 7 Craft Breweries and Bottle Shops 13 Places for Fitness 2.25 Miles of Rail Trail In 24 months, more than 1,600 new apartments have been delivered in South End. During this time, reported vacancy rates at established complexes have stayed below 4%, indicating pent up demand. 8 Minute Average Commute 7 Spots to Spoil Fido 13 Gourmet Food Shops Source: Charlotte Center City Partners SOUTH END AVERAGE RENT PER SQUARE FOOT Source: Carolinas Real Data 16
19 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% of Uptown Residents Moved in From Out of State 36% of South End Residents Moved in From Out of State 32% of West End Residents Have Moved in Since % of People Who Have Moved to Uptown in 2015 Had a Bachelors or Graduate Degree 60% of South End Residents Have a College Degree 16% of West End Residents Moved in Prior to 1970 POPULATION GROWTH Source: Charlotte Center City Partners 17
20 Shop SHOPPING IS POPPING Retail is Growing All Over Center City Demand is high for shopping and dining opportunities in Uptown and South End. New concepts and established brands are flocking here as space becomes available. Real estate owners are responding to demand by reconfiguring lobbies and unused areas to accommodate ground floor retail. These investments will add 70,000 square feet to the 470,000 square feet of new space that is under construction or proposed in Uptown. South End has almost 250,000 square feet of space planned or under construction, including an expansion of the Atherton Market. FAST FACTS 1.31M Square Feet of Retail Space in Uptown 22,300 Pedestrians a Day at Trade and Tryon in Uptown 1.4M Square Feet of Retail Space in South End 1,256 Pedestrians a Day on the Rail Trail at Sycamore Brewing 18
21 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 $73,931 AVERAGE EMPLOYEE WAGE SOUTH END $65,225 MECKLENBURG COUNTY $56,472 In 2017, Whole Foods will open in Uptown at Stonewall Station, along with 440 residential units, additional retail space and a future hotel. UPTOWN $105,305 * Zip Code SOUTH END $55,275 * MECKLENBURG COUNTY $57,800 Source: U.S. Census YEARLY CENTER CITY SPENDING POTENTIAL YEARLY OVERNIGHT VISITORS WORKERS HOUSEHOLDS 1,400, ,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 Sources: ICSC and U.S. Census Total $188,314,000 $723,371,610 $274,845,792 19
22 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, Proposed 369, ,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
23 SHOP RETAIL BUSINESS BY TYPE UPTOWN UPTOWN SOUTH END 80% Locally-Owned Retail, 67% Locally- Owned Restaurants 20 Vendors at the Poptopia Holiday Market 19 New Restaurants Since New Local Coffee Shops Since 2014 $292 Sales Per Square Foot, 7th Street Public Market in 2015 SOUTH END 82% Locally-Owned Retail and Restaurants 32% Growth in Full Service Dining Since % Growth in Soft Goods Retailers Since Craft Breweries and Bottle Shops 2,600 Attendees at the Small Business Saturday By Design Pop Up Source: Charlotte Center City Partners 21
24 Play ENTERTAINMENT CAPITAL The Region s Hub for Hospitality and Tourism A packed events calendar, national sports teams, a wide variety of cultural and performance venues and highly regarded restaurants and entertainment venues draw in visitors from around the corner and around the globe. The largest segment of out-of-town visitors to Uptown Charlotte are those visiting friends and family in the region continued to be a strong year for hospitality with the seventh year in a row of increasing occupancy and room rates. This has prompted the development of new hotels eight in Uptown, two in South End and two in Midtown. FAST FACTS 18M Regional Visitors to Uptown Per Year 1,265 Hotel Rooms in Planning 1,406 Hotel Rooms Under Construction 72% Hotel Occupancy Rate 11% Increase in Occupancy Rates Since % Out of Town Visitors Would Recommend Center City to Other Visitors PRESENTED BY epicentrenc.com 22
25 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
26 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+ Events Produced by the Charlotte Center City Partners Events Team Each Year 700+ Volunteers for the Novant Health Thanksgiving Day Parade 30 Local Acts Performed at the 2016 Soul Junction Music Festival in West End 50 Food Trucks Competed at the Carolina Food Truck Challenge at the South End Art & Soul Festival Source: Charlotte Center City Partners 12 Minute Firework Show at the CLT New Year s Eve Celebration Presented By Ally Bank 130,000 People Attended the 2016 Charlotte Pride Festival The Novant Health Thanksgiving Day Parade is one of the largest in the nation. 24
27 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
28 PLAY Four Professional sports teams call Uptown Charlotte home, making it easy to cheer for the home team any time of year. HOME GAME ATTENDANCE CHARLOTTE KNIGHTS CHARLOTTE HORNETS CAROLINA PANTHERS CHARLOTTE HOUNDS Joining the roster of sporting events are college sporting championships, international soccer matches, cycling races, a regular schedule of running races and professional bull riding. For motorsports fans, Uptown is home to the NASCAR Hall of Fame and hosts Speed Street, the yearly celebration of stock car racing. 628,173 Total Yearly Attendance 70 Games 716,894 Total Yearly Attendance 41 Games 590,616 Total Yearly Attendance 8 Games 29,400 Total Yearly Attendance 7 Games 8,974 Average Attendance 17,485 Average Attendance 73,827 Average Attendance 4,200 Average Attendance 26
29 PLAY RAIL TRAIL 3.5 Mile Urban Linear Park 2,000+ Number of Users in a Day 62 Bike Share Bikes 16 Activities Along the Rail Trail 5 Run Clubs Use the Rail Trail The Rail Trail The Rail Trail is a 3.5 mile linear park that links Uptown to South End. 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 of art and activities to enjoy. 6,600 Residents Estimated to Live Along the Rail Trail With More on the Way 3,885 Homes Immediately Adjacent to the Rail Trail $450,000 Private Investment $463,050 In Grants Within a block of the Rail Trail With multiple public art and activity areas, the Rail Trail is more than just a walking path. 24 Shops 17 Restaurants 13 Bars and Craft Breweries 4 Coffee shops Source: Charlotte Center City Partners 27
30 On The Go WELL CONNECTED Uptown Charlotte Links the Region Charlotte Center City is at the heart of a robust transportation network. Charlotte Douglas International Airport offers 160 non-stop destinations. A robust public transportation network links 40% of the county s population to Uptown. Pedestrians find Uptown and South End walkable. For drivers, there is plentiful parking and easy access via two major interstates. Major investments are being made to transit, bikeability and walkability. These investments will link more people to the most employment and amenity rich center in North Carolina. FAST FACTS 45,000+ Professionally Managed Parking Spaces 51,000 Daily Blue Line Ridership by ,247 Daily Blue Line Ridership 1,748 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
31 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
32 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% Less Than 10 Miles 37% Miles 5.7% Miles 15% 50 Miles+ Source: U.S. Census TRANSPORTATION OPTIONS FOR COMMUTERS 47 CATS Park and Ride Lots Offering Free Parking for Transit Users 50 Electric Vehicle Charging Stations in Uptown and South End 8 Light Rail Stops, Gold Rush and 6 Streetcar Stops Serve Center City 18 Express Bus Routes and 26 Local Routes Serve 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
33 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 Pedestrians at Trade and Tryon Daily 2,000+ Pedestrians on Rail Trail Daily 4,959 Average Number of B-Cycle Trips in a Month SHOPS AND RESTAURANTS WITHIN WALKING DISTANCE OF TRADE AND TRYON 5 Minutes 10 Minutes 15 Minutes 148 Shops and Restaurants 217 Shops and Restaurants 233 Shops and Restaurants Source: Charlotte Center City Partners 31
34 On The Horizon VISION GROWING A Dynamic Central Business District Center City is currently in the midst of one of its most dynamic eras of growth. The convergence of public sector projects and private investment is reshaping the urban core to accommodate significant demand growth from residents, employers and visitors. The vision is to create a dynamic, vibrant and accessible place for people to flourish. Projects planned and currently underway support that vision. FAST FACTS 11.8 Miles of Light Rail and Street Car Network Under Construction 60 Blocks Strategically Planned in the North Tryon Area 26 Miles of Multi-Use Pathway 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
35 ON THE HORIZON Stonewall Corridor Cranes, bulldozers and construction fences lined Stonewall Street throughout 2016 and will continue to rise through 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
36 ON THE HORIZON Uptown Connects The Charlotte Department of Transportation is working on a project called Uptown Connects to link the city s greenway system and future 26-mile Cross Charlotte Trail for bicyclists and pedestrians. The project is in the planning stages gathering citizen input and identifying corridors that can accommodate protected and unprotected bikeways within Uptown. By 2019, it is anticipated that cyclists and pedestrians will be able to travel from just north of Uptown to Pineville on a protected trail. Gateway Station Planning continues for Gateway Station, Charlotte s future iconic multimodal transit terminal linking Amtrak, commuter rail, street car and bus service. The main station will be located between West Trade, Fourth and Graham Streets and the rail line. A mix of uses will also be developed around the station creating a new employment, residential and retail hub at the heart of the region s transit network. The city was awarded a $25 million grant from the U.S. Department of Transportation partially funding the station. Transit The Gold Line is a 10-mile streetcar system linking Uptown to neighborhoods to the east and west. The first 1.5 mile leg is operational from the transit center to Elizabeth. Construction has begun on the 2.5 mile leg linking the Transit Center to Historic West End. The 9.3 mile Blue Line extension is set to open in August 2017 and will link Uptown to the UNC Charlotte Campus. This will create 18.6 miles of light rail service and add 3,200 Park and Ride spaces for commuters. 34
37 North Tryon Vision Plan In 2017, the implementation of the North Tryon Vision Plan will begin. The plan covers almost 60 blocks of vacant or underutilized land in the northern end of Uptown. The transformative urban design plan recommends a mixed-use district that includes office, retail and housing, while making activities in the district s existing, extensive cultural resources more transparent and integrated. The ultimate goal is a district encouraging innovation and knowledge, while encompassing a diverse mix of people and businesses. South End Vision Plan The South End Vision Plan is a new effort lead by Charlotte Center City Partners and the Charlotte Planning Department focused on guiding future growth and development of the district. Between Fall 2016 and Spring 2017, South End stakeholders will work with urban design firm Stantec to prepare a community-driven vision for the area s future. ON THE HORIZON West End Capital Improvements There is incredible momentum with public and private investment in Historic West End, including the extension of the Gold Line Street Car. This $150 million investment will connect West End to Uptown. Construction is scheduled to complete in the first quarter of Additionally, the City s Comprehensive Neighborhood Improvement Program (CNIP) aims to strategically invest $20 million in infrastructure. There are a total of 23 recommended projects in this geography, five of which are directly in the West Trade corridor surrounding Johnson C. Smith University and Five Points. 35
38 Acknowledgments BOARD OF DIRECTORS CREDITS THANK YOU TO OUR SPONSORS BROUGHT TO YOU BY Pat Riley - Chairman Allen Tate Companies Dr. Claude Alexander The Park Church Jennifer Appleby Wray Ward Robert Bush Arts & Science Council Debra Campbell City of Charlotte Dr. Ronald Carter Johnson C. Smith University Ann Clark Charlotte-Mecklenburg Schools Jesse Cureton Novant Health Dr. Kandi Deitemeyer Central Piedmont Community College Thomas Finke Babson Capital David Furman Centro CityWorks Marcus Jones City of Charlotte Lynne Tatum Little Consultant Carol Lovin Carolinas HealthCare System Dr. Michael Marsicano Foundation For The Carolinas Melissa McGuire Sherpa James Mitchell Charlotte City Council Dr. Robert Mock Johnson & Wales University Tom Murray Charlotte Regional Visitors Authority Tom Nelson National Gypsum Mike Praeger AvidXchange Ernie Reigel Moore & Van Allen Pat Rodgers Rodgers Builders Ella Scarborough Mecklenburg County Board of Commissioners Terry Shook Shook Kelley Doug Stephan Vision Ventures Krista Tillman Consultant DESIGN Rachel Martin Design rachelmartindesign.com PHOTOGRAPHY Austin Caine austincaine.com Bella Loren bellaloren.com Patrick Schneider patrickschneiderphoto.com Laura Wolff lwolffphoto.com PRESENTING SPONSOR cbi-nc.com SECTION SPONSORS mvalaw.com elementuptown.com charlottecentercity.org historicsouthend.com Dena Diorio Mecklenburg County David Dooley CBI Dr. Phil Dubois UNC Charlotte Rob Engel Wells Fargo Bob Morgan Charlotte Chamber of Commerce Katie Morgan Bank of America Danny Morrison Carolina Panthers Lloyd Yates Duke Energy epicentrenc.com 36
39 American City Business Journal cbi-nc.com Charlotte, NC Raleigh, NC Piedmont-Triad, NC Greenville, SC Charleston, SC Knoxville, TN Chattanooga, TN Miami, FL Jacksonville, FL Fort Lauderdale, FL
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