Office

Over 2.7 million square feet of new office space that is under construction in Uptown will be added to the existing 14.3 million square feet. There is an overall vacancy rate of 2.5% in Uptown's market which makes up 34% of the office space in the Charlotte.

Wachovia is building a new mixed-use project located at South Tryon and First Streets. Scheduled for completion in 2010, the complex will include a 48-story, 1.5 million square foot tower. The project will include Wake Forest University's MBA Program, joining Johnson & Wales and UNC Charlotte as higher education institutions making significant investments in Uptown. The project will also feature a $97 million investment in arts and cultural venues with the addition of new venues such as: the 1,200 seat Knight Theatre for the North Carolina Dance Theatre; the Mint Museum of Art; the Mint Museum of Craft & Design; the Gantt Center for African-American Art & Culture; and, the Bechtler Museum of Modern Art.

To complement a new Ritz-Carlton Hotel that is under construction, Bank of America is building a 32 floor, 700,000 square foot office complex to be located at the corner of Fifth and College Streets. Scheduled for completion in 2010, the $450 million office building is being designed to achieve LEED Gold Certification, making it one of the most environmentally-responsible towers in the Southeast.

• 14.3 Million Sq Ft
• 2.7 Million Sq Ft Under Construction
• Current Vacancy Rate: 2.5%
• 34% of all Mecklenburg County office space located Uptown
• 70,000 Employees
• 100,000 Employees by 2030

• Center City Office Development PDF
• Center City Office Market Inventory PDF
• Uptown Commuting Patterns PDF

Retail

Uptown Charlotte is in the early stages of welcoming retail back. The existing 1.67 million square feet of retail space in Uptown and Midtown comprises over 300 dining, grocery, service, and consumer goods establishments. An additional 1 million square feet of retail is either under construction or planned, mostly to be located on the ground floors of new office and residential projects. In late 2007 and early 2008, Target, Trader Joe’s, Best Buy, Staples, and an assortment of shops and restaurants totaling 420,000 square feet opened in the Metropolitan mixed-use development in Midtown.

On December 6, 2007, Charlotte Center City Partners released the results of a 14-month Uptown Retail Market Assessment performed by national expert H. Blount Hunter. The study results indicated that Uptown was ‘ready for retail’ and that, right now, over 240,000 square feet of soft goods shops could be added to the current mix of destination and entertainment venues as a ‘complementary’ use.

To find out more information on this study, click on the reports tab below.

• 1.67 Million Sq Ft in Uptown/Midtown
• 1 Million Proposed or Under Construction in Center City
• Over 100 Restaurants
• Over 50 Nightspots

• 2008 Pedestrian Count Study PDF
• Center City Retail Market Assessment Presentation PDF
• Charlotte Retail Strategy PDF
• Retail Market Assessment Executive Summary PDF
• Retail Press Release PDF

Housing

Housing development in Uptown has been prolific over the past decade. Between 2000 and 2010, 7,640 housing units will have been built. The units include single-family, mid-rise, and high-rise apartments and condominiums, some with prices in excess of $550 per square foot. The current Center City population of 13,420 is estimated to grow to 17,750 by 2010 and 25,000 by 2020. In addition to Uptown, significant residential growth has occurred in South End as it has evolved from mostly office and retail uses into a vibrant urban neighborhood.

• 13,420 Residents in Center City
• 11,000 Residents Uptown
• 17,750 Residents in Center City by 2010
• 25,000 Residents in Center City by 2020

• Center City Housing Development PDF
• Center City Resident Survey PDF

Hospitality & Tourism

With the opening of its first entertainment venues, Whiskey River, Suite and Howl at the Moon in the first half of 2008, EpiCentre has quickly become Uptown's marquee entertainment and retail destination. Completed in 2009, the project consists of a 265,000 square feet retail center, an 'aloft' Hotel, and 60,000 square feet of office space. EpiCentre also included a movie theatre, bowling alley, and other shops and dining options, providing synergy with neighboring Time Warner Cable Arena.

Construction of the NASCAR Hall of Fame is well underway. Designed by the architectural firm Pei, Cobb & Freed Partners, the project will include a new 44,000 square foot ballroom for the Charlotte Convention Center and a 19-floor, 390,000 square foot office tower. Scheduled for completion in 2010, the $195 million project is slated to generate nearly $62 million in annual revenue and attract over 400,000 visitors per year.

• 500,000 Annual Convention Attendees
• 15 Hotels (4,214 Rooms)
• 3 Hotels Proposed or Under Construction (425 Rooms)
• 48 Theatres, Galleries, Museums & Recreational Venues
• 2 Million Annual Visits to Sports Venues

Arts & Culture

Uptown is the nerve center of many of the city’s most prominent arts and cultural groups, including the symphony, ballet and theatre companies, museums of classical and contemporary art, and science and learning centers. Attendance at cultural venues during 2006 exceeded 2.5 million visits. With two new museums, a cultural center, and a dance theatre under construction, soon even larger crowds will experience all that Center City’s arts and cultural scene has to offer.

• 48 Theatres, Galleries, Museums & Recreational Venues
• 30 Yearly Events in Center City

Transportation

Great strides in improving public transit have been realized with the inauguration of light rail service and expanding the regional bus system. In 2007, the Charlotte Area Transit System (CATS) opened the LYNX Blue Line light rail, the first of five rapid transit corridors which will terminate in Uptown. Ridership on the Blue Line has exceeded expectations and is rapidly approaching its 2025 projections.

CATS is currently conducting preliminary engineering for the LYNX Blue Line extension to the northeast, as well as planning for the North Commuter Line, with both scheduled to open in 2015. A consultant team is currently conducting an economic impact study to determine the feasibility of alternative funding sources to build a new streetcar line. A new signature multimodal station will be built between West Trade and West Fourth Streets to serve Amtrak passenger rail, the North Commuter Line, the streetcar line, and local and inter-city bus service. Currently in design and planning, the station will be a catalyst for the development of a new employment and retail center in Uptown.

• Hub of $3 Billion Mass Transit System Now Under Construction
• 7 Miles from Charlotte Douglas International Airport
• LYNX Blue Line December Average Weekday Ridership: 15,400