2020 State of the Center CityFebruary 5, 2020 3:31 pm
State of the Center City: Leading the Way into a New Decade
Charlotte’s urban core is well positioned to enter a new decade thanks to the most prolific period of Center City office, residential and hotel construction in Charlotte’s history, according to data released this evening by Charlotte Center City Partners.
The 2020 State of the Center City report is the latest and most comprehensive data focused on the city’s urban core. This year’s report provides a snapshot of current and planned development within Charlotte Center City and reflects major wins in job growth and economic development.
From 2010 through 2019, projects completed within Center City, which is defined as Uptown, South End and Midtown, have created the space for an additional 41,300 workers, 81 shops and restaurants, 1 million overnight visitors and 19,500 new residents.
“Center City is strong and growing. Our accomplishments this decade took place against the backdrop of an evolving Center City that serves as a magnet for top talent and innovative companies,” said Michael J. Smith, president and CEO of Charlotte Center City Partners. “Now, as we enter a new decade, it is time for us to prepare for Charlotte’s next phase of growth.”
Among highlights from the report:
- 6M+ square feet of office space was absorbed in Center City last year
- 7M+ square feet of office space will exist in South End upon completion of all current projects
- There were more than 5,000 new jobs announced for Center City in 2019
- Charlotte is home to the 2nd largest population of computer related degrees on the East Coast
- 85% of people working in Center City highly value the availability of professional growth and diverse job opportunities
“It is an exciting time to be a part of city-building in Charlotte,” Smith said. “Twenty-first century jobs have a growing preference for the urban context, and we know that these investments in our Center City will strengthen the entire region.”
The past year included major community wins such as the advancement of the Silver Line light rail project, the announcement of a medical school partnership between Atrium Health and Wake Forest University, securing a Major League Soccer franchise and Center City’s growth as a destination. It also included significant job creation within the urban core by diverse, innovative companies such as AvidXchange, Better.com, Bank of America, EY, Honeywell, Krispy Kreme, LendingTree, Lowe’s, Truist and others.
The State of the Center City report, produced by Charlotte Center City Partners, serves as a resource for investors, brokers, economic development prospects, developers, real estate professionals and economic development professionals. Download PDF