Charlotte developer buys old Catawba Brewing spot in Belmont
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933 Louise. Photo: Courtesy of Ascent Real Estate Capital
A well-known Charlotte developer and a local investment firm have purchased the old Catawba Brewing and its neighboring retail spaces in the Belmont neighborhood.
Why it matters: Catawba Brewing was an anchor that drew hoards of customers to 933 Louise for more than seven years, but it abruptly closed in August. New owners Ascent Real Estate Capital and PointBlank Ventures are giving the property a fresh look that should attract a new "top-tier" food and drink business to the space.
- The prominent Belmont spot is home to Hygge Coworking, The Royal Tot, BATL Axe, Sandwich Max and Dortch Acting Studio.
Driving the news: Ascent Real Estate Capital and PointBlank Ventures closed this week on the roughly 63,000-square-foot mixed-use property for $11 million.
The intrigue: 933 Louise, a nearly 80-year-old property, was once a cookie bakery where iced animal crackers, Famous Amos and Austin Sandwich cremes were made.
- The firms will rebrand the building to reflect its past life as a cookie factory, according to a press release.
Zoom in: The new owners plan to start renovations next month and finish in early fall. Improvements include:
- A new patio and canopy in the center of the building.
- An exterior makeover with new design elements, colors and the touch of local artists.
- New lighting, flooring and wall coverings in the corridors to improve the experience for office workers.
- Fresh landscaping featuring river rock, ornamental trees, rose shrubs and grasses "to create a modern, clean aesthetic."
What they're saying: "Assets like 933 Louise with rich history and unique structural features are becoming fewer and fewer across Charlotte as the urban areas continue to densify with new development," Jared Londry of PointBlank Ventures, said in the release.