Crescent Resources planning Uptown projectFebruary 6, 2013 11:36 am
Crescent Resources is in beginning stages of planning a signature property at South Tryon and East Stonewall streets in Uptown Charlotte. The location will predominantly feature office space, but also may include a mix of uses including hospitality, retail and multi-family.
Crescent Resources has selected Little, a diversified architectural consulting firm, to begin design and master planning for a signature property that Crescent has assembled at South Tryon and East Stonewall streets in Uptown Charlotte. Little has been asked to review a full range of options for the strategic location, which predominantly will feature office space but also may include a mix of uses including hospitality, retail and multi-family.
Uptown has only 9.8 percent of office vacancy, which is comparatively low and can serve as a strong indicator of the need for new development to support organic business growth and to facilitate corporate office relocations, according to Michael Smith, President and CEO of Charlotte Center City Partners.
“Crescent’s South Tryon property represents a unique opportunity for Charlotte and the dynamic southern portion of Center City,” Smith said. “In close proximity to the Levine Center for the Arts, the Convention Center, Duke Energy and Wells Fargo, this property also represents a gateway to South End and serves as a catalyst for several initiatives in our Center City 2020 Vision Plan.”
Crescent’s recently assembled site encompasses more than three acres bordered by Tryon, Stonewall, College and East Hill streets. Little and Crescent have begun a strategic collaboration that will include outreach to the city’s business, governmental and civic leadership to identify the most advantageous use for the property.
“We have an opportunity with our South Tryon Street property to launch what we believe will be a transformative development for Center City,” said Todd Mansfield, chief executive officer of Crescent Resources. “We have asked Little to consider every possibility with a vision of creating an office community that is authentic to Charlotte’s progressive heritage yet embraces how people live, work and play today and for the future. The guiding values for this development are community, sustainability and connectivity.”
“This site offers the potential for everything that tenants are looking for in office space today,” said Ned Austin, vice president of Crescent’s Charlotte Region Commercial Group. “This vibrant location is adjacent to residential areas and close to restaurants, shopping and entertainment, and it affords outstanding access and visibility to the I-277 beltway and Uptown.
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