Built on Bedrock

February 9, 2018 12:05 pm

 

 

On January 30, Charlotte Center City Partners unveiled the latest research and economic development data focused on the city’s urban core at its 2018 State of the Center City (SoCC). The data shows continued growth in Charlotte’s Center City thanks to talent in-migration and retention, expanded access to transit, upgrades to IT infrastructure, and continued investment in office and residential development.

Event attendees were the first to receive the eighth annual 2018 SoCC report, which provides a snapshot of the current development within Center City Charlotte. Produced by Charlotte Center City Partners, the report is intended to be a resource to brokers, prospects, investors, developers, real estate professionals and economic development professionals as they work to recruit and retain businesses and investors.

“The state of our Center City is strong and growing. Today Uptown is home to 50% of the region’s Class A office space and Charlotte ranks 7th in the nation for central business district office construction,” said Michael Smith, President & CEO of Charlotte Center City Partners and host of the event. “The growth we see all around our Center City did not happen by chance, it is the result of four decades of long-term planning and deliberate investment in our central business district. Today, the additive effects of this enduring commitment are producing strong returns across all sectors of development.”

During the event, facts and data covering everything from infrastructure growth, talent recruitment and retention, an expanding transit system, sustainability, and new retail opportunities were highlighted. A few data points were called out, including:

  • In 2017, Charlotte added 1.37M square feet of office space, 1,847 apartments, 713 new hotel
  • rooms
  • Charlotte Center City ranks seventh in the nation for downtown office construction, along with Philadelphia, Seattle, Denver, Chicago and Dallas, and fourth in the nation for downtown office absorption.
  • 50% of Charlotte’s leasable, Class A office is in the CBD
  • 276 restaurants (25 new in 2017), 164 shops (38% increase from 2010), 9 craft breweries and bottle shops in Center City
  • 84% population growth of residents ages 20-34
  • 131+ acres of ‘green’ space in Uptown, with parks, urban trails and greenways for active recreation

Charlotte Mayor Vi Lyles was the event’s special guest, and shared with attendees her vision of the future for Charlotte. “The work you do is critical to bringing jobs to our city. The city is a committed partner in the work of economic development,” Lyles said. “Center City is our region’s employment center. New office coming on line in 2018 – another 2 million square feet is under construction. Our developers are going to fill that space, our architects are going to design that space and you will all work to make that space amazing.”

 

The report is available now at www.charlottecentercity.org. Charlotte Center City Partners has produced an annual State of the Center City report since 2010. Contents of the report pertain to Uptown, South End, the Historic West End and a portion of the Midtown neighborhood.

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