Most anticipated developments set to break ground in Charlotte in 2024

• But looking ahead at 2024, new construction will slow down a bit amid market uncertainty and financing challenges, as Axios’ Alexandria Sands reported.

Zoom out: While 2023 saw the groundbreaking of large-scale, transformative developments throughout Charlotte, many of the projects we’re watching in 2024 are smaller-scale, including a few apartment towers.

• Timing for all sorts of developments throughout Charlotte hinges on several factors out of developers’ control, including capital market conditions and construction costs.

Why it matters: Though they may be smaller in scale, some of these projects coming up next year have the potential to transform their respective neighborhoods.

What we’re also watching: Officials behind other major previously announced projects have kept quiet about their next steps. Among them: Centre South (a $400 million mixed-use development on a 16.7-acre site on the edge of Dilworth that will include residential, commercial, hotel and retail).

• It’s unclear what the timeline on that is; a representative did not respond to a request for comment.

Southern Land Company’s Dilworth tower

The Nashville developer will tear down the building that’s currently home to Tyber Creek Pub. In its place will be an apartment tower with approximately 300 luxury rental units. A new and expanded Tyber Creek Pub will be a central part of the developer’s project as well, a representative tells Axios.

Timeline: Construction should wrap up in 2025, per the developer.

Why it matters: The development will mark a new chapter for the longstanding building, which sits at the edge of Dilworth and South End.

Northwood Ravin’s midtown apartment tower

The Charlotte apartment developers will build a 27-story, 283-unit luxury apartment high-rise in the grassy area adjacent to The Metropolitan shopping center, which is home to retailers like Trader Joe’s. The building will have multiple pools and a rooftop speakeasy, among other features.

Timeline: Groundbreaking is expected early next year. The building will open within three years or so.

Why it matters: The property aims to make the Metropolitan area the kind of high-end live-work-play destination that you’d find at places like Phillips Place in SouthPark, Northwood Ravin president and CEO David Ravin told Axios recently.

Carson & Tryon

This 31-story mixed-use development, by Crescent Communities and Nuveen Real Estate, will go up at the edge of Carson and South Tryon, on the property where the Enterprise Rent-A-Car is. The project will include:

• 565,000 square feet of office space and 10,000 square feet of retail
• A 200-room luxury boutique hotel with a restaurant and rooftop lounge
• 200 luxury apartments

Timeline: TBD

Why it matters: This multi-faceted project is the latest development bridging Uptown and South End, two of Charlotte’s hottest office submarkets.

Tower where Price’s Chicken Coop was

The timing is tentative for a groundbreaking for this project, which is a partnership between Charlotte-based Catalyst Capital Partners and Florida-based Stiles. “We continue to monitor the construction and capital markets closely and are targeting a late 2024, early 2025 timeline for a start,” Stiles’ VP of marketing Adrienne Zalkind told Axios.

• The a 30-story “ultra-luxury” tower will have 291 apartment units, 9,500 square feet of retail and restaurant space and about 10,000 square feet of office space that Catalyst will eventually occupy.

Timing: Late 2024/early 2025 groundbreaking

Why it matters: Price’s was iconic, and its closure marked the end of an era for a neighborhood where older, family-owned businesses were once prevalent.

VeLa Uptown

VeLa Development Partners is planning a 32-story, 379-unit apartment tower on the property where the Levine Museum of the New South building is Uptown. The building will also have 4,000 square feet of retail space, plus a range of amenities including a dog spa and a resort-style pool.

• The Levine Museum, meanwhile, reopened last year in a ground-floor space of the Three Wells Fargo Center.

Timeline: “As we look to take advantage of the improved capital markets and construction cost conditions in the first half of 2024, VeLa Uptown is slated to start in Q4 2024,” a spokesperson tells Axios.

Why it matters: Construction of an apartment tower marks a new chapter for the site of the Levine Museum, a longtime Uptown fixture that’s known for sharing Charlotte’s history. Over the years, it hosted everything from community events to a signature exhibit focused on police brutality.

Editor’s note: This story was corrected with the name of VeLa Uptown.