How the Queen City has Grown in Ten Years
Over the past decade, Charlotte has seen astronomical, record setting growth in many arenas. Be it residential growth, corporate growth, or a population boom, the Queen City has moved from “up and coming” and has landed squarely in “made it!” Recently, Charlotte Observer journalist Danielle Chemtob covered that growth. Here are the numbers.
Center City (an area that includes Uptown, South End, midtown, and areas west of I-277) is gaining another 6.9 million square feet of office space. These offices are either planned for the near future or are already under construction. This is up from the 5.1 square feet added last year. With all the construction cranes around town, this should come as no surprise. The additional square footage is reflected in the current construction of the Legacy Union development, the Ally Charlotte Center, the FNB Tower on S. Graham Street, and the Duke Energy Tower on S. Tryon Street.
That’s the number of hotel rooms planned or currently under construction. This is impressive because only 1,495 were added between the years of 2000 and 2009. A number of high-profile hotels are opening up shop in the area which brings not only tourism revenue, but also, jobs.
The estimated residential population in center city has now reached more than 30,000, up 46% over the last 5 years. Charlotte Mayor Vi Lyles is quoted saying, “The sky is the limit now. We’re in a good place to really compete, to be a part of something that I think a number of communities haven’t been able to achieve: a place where people can live and afford to live here.”
And afford to live they can! $1,455 is the median monthly rent in Charlotte. This number is far more manageable than other cities of comparable size where rent starts at $2K and only goes up from there. Couple these fair rent prices with equally affordable home prices and it’s no wonder Charlotte has seen such cosmic growth over the last ten years.
What about you? Are you pondering a move to Charlotte, has a new job brought you here, or are you ready to list your in-demand home? Contact me today if you’re looking for a smooth transition in the Queen City!
To read the full article, visit Charlotte News & Observer!