Charlotte Boomed with Construction in 2016
Charlotte was booming with new development projects all over town in 2016. Everywhere you looked, it seemed like a new project was in the works, and construction was everywhere. And now, while the Charlotte construction boom doesn’t seem to be slowing down, many of the projects that got underway in 2016 are nearing completion and getting ready to open for business (or tenants, or residents) in 2017.
There are quite a few noteworthy developments that are slated to open in the coming year that will change Charlotte’s urban landscape.
One of these developments is the 9.3-mile Blue Line Extension on the light rail that will connect uptown to UNC-Charlotte and the University City area. The $1.2 billion-project that is slated to open in August 2017 is hoping to spur a construction boom just north of Uptown. We’re already seeing major upward shifts in housing prices in historic Belmont, Villa Heights and The Arts District neighborhoods as this transportation game changer nears completion. With anticipation brewing, 2017 is the year when it all comes together.
Another major development set to open in 2017 is the first wave of new office towers to hit Charlotte since the recession. Three buildings in particular, 615 South College, 300 South Tryon, and 500 East Morehead are adding over one million square feet of new office space to the market. Following these openings, two more huge office projects also totaling more than a million square feet of space will be in the works.
Furthermore, four new hotels are slated to open this year, all of which are located in Uptown, providing an additional thousand rooms in the already booming city center.
There was another surge in Charlotte construction in 2016, and that was for mixed-use developments – – projects that combined residential as well as commercial space. Many of these projects include apartments, restaurants, retail and office space. These mixed-use development provide a kind of one-stop-shop for residents and patrons. One of the most notable of these is the Uptown Whole Foods mixed-use project. The development is adjacent to and directly connected to the light rail and will also feature 450 apartments.
For more details on these exciting new developments set to open in the coming year, be sure to check out the full article that CharlotteObserver.com.
If buying a house is on your 2017 radar, some terrific upcoming homes are underway, with a more professional approach to renovation in key Charlotte neighborhoods. To find out more and get a jump on the competition, give me a ring at 704-307-3369. I have the keys.