The State of Center City Charlotte: Boomtown in the Urban Core

January 24, 2015 1:04 pm

Charlotte Center City Partners unveiled the latest research trends and economic development data focused on Charlotte’s urban core today during the third annual State of the Center City event, held at the Foundation for the Carolinas. Event attendees were the first to receive the new State of the Center City (SoCC) report, which provides a snapshot of the current development boom 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 2015 SoCC report is the 5th report published.

North Carolina Governor Pat McCrory served as the event’s special guest, and shared with attendees about tools for keeping Charlotte’s urban core competitive and his plans for economic development in the state. “Charlotte’s growth didn’t happen on accident. It was thanks to hard decisions, partnerships and visionary leadership and today, Charlotte’s center city is booming,” said McCrory. “It was great to talk with Michael Smith, president & CEO of Charlotte Center City Partners Thursday night about how we are now getting all of North Carolina’s economy booming by getting government out of the way and competing for jobs.”

Michael Smith, President and CEO of Charlotte Center City Partners hosted the event. He says the state of the Center City is one of strength. “Commercial real estate development returned to Uptown and South End in a major way in 2014.  We are in a defining period of growth, building on the momentum of recent major public investment and strong investor and developer confidence in our market.”

During the event, facts and data covering everything from development to transit, sustainability and retail were highlighted. A few data points were called out, including:

 

  • Hotels: When the 1648 hotel rooms that are under construction or proposed are completed, we will have seen a 36 percent increase in our hotel rooms since just 2014…47 percent since 2004.
  • When the 6,899 housing units that are under construction or proposed are completed, we will have seen a 249 percent increase in the number of housing units since 2004.
  • As of today, 2.9 million sq. ft. of office space is under construction or proposed in Center City. Once complete, we will have seen a 12% increase in Class A office space Uptown.
  • Uptown Class A office space represents 48 percent of Class A office space in the county.
  • Since 2000, the population age 20-34 has grown by more than 300 percent in South End and Uptown.
  • 5,570 barrels of craft beer produced in South End in 2014.

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, and a portion of the Midtown neighborhood.

 

About Charlotte Center City Partners

Charlotte Center City Partners envisions and implements strategies and actions to drive the economic, social and cultural development of Charlotte’s Center City. The organization envisions a Center City in Charlotte that is viable, livable, memorable, and sustainable, with modern infrastructure, a tapestry of unique neighborhoods, and a diversity of thriving businesses. For more information, please visit www.charlottecentercity.org.

 

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