How the Charlotte Hornets development will transform Uptown
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Michael Jordan sold his majority stake in the Hornets to a group led by businessmen Rick Schnall and Gabe Plotkin in 2023. Photo: Ashley Mahoney/Axios
The Charlotte Hornets broke ground Wednesday morning on Novant Health Performance Center — the team's new practice facility.
Why it matters: Uptown's post-pandemic revival is ongoing. City leaders and team owners believe the team's new practice center will spur economic growth along Trade Street, creating a destination similar to Milwaukee's Deer District.
The district the team and the city hope to create doesn't have a name yet, but team owners Rick Schnall and Gabe Plotkin like the idea of The Hive District or maybe just The Hive as a nod to the Hornets.
- "We're working on it," Schnall said with a laugh.
Zoom out: Changes for the franchise are already underway, with a $245 million renovation at Spectrum Center across the street. The arena will close during the upcoming NBA offseason for the second and final round of renovations.
- The team's deal with the city keeps the Hornets in Charlotte through 2045.
Between the lines: When you leave the arena, you see parking lots, hotels, the transit center, the Blue Line and the Gold Line, plus Midnight Diner.
- Your options for what to do after an event at the arena are limited. The same can be said for many of Charlotte's professional sports and entertainment venues.
What they're saying: "This is a great city, a growing city," Schnall told reporters after the groundbreaking. "It needs a world-class Uptown."
The big picture: "There's obviously a lot of real estate development to be done here in Charlotte," Schnall said.
- The team owners aren't real estate developers, Schnall said, but their goal is to work with local real estate developers and contribute to Uptown's development.
- "We see the opportunity for hotels," Schnall said. "We see a lot of retail, restaurant type opportunity."
- Schnall says they're working with the city regarding what should happen with the Charlotte Transportation Center across the street, a previously proposed location for the project.
What to expect: The team's future 160,000-square-foot practice center is currently a parking lot on city-owned land. It will also include the team's headquarters, a Novant Health Orthopedics & Sports Medicine clinic, plus retail.
- The project is expected to open during the 2026-2027 NBA season.
By the numbers: The city will contribute $30 million to the project, which the team expects to cost more than $150 million. The team will cover the difference.
- "We're committed to the city, and we're committed to this area," Plotkin said. "This is just the perfect symbol of what we're trying to accomplish here."
What we're watching: Teams around the globe are fighting to have the best practice facilities to attract and retain players.
- "There's clearly an arms race in terms of practice facilities," Schnall said.
- Time will tell if these improvements will be enough to attract free agents the way Hornets owners expect them to. Facility upgrades aren't just expected to boost Uptown, but hopefully the team's record.
- Mecklenburg County Commissioner George Dunlap told the crowd Wednesday, "To the coaching staff, I think that I speak for all Hornets fans, I hope that this facility improves our chances of getting to the playoffs next season."
- The crowd laughed, but this team is 18-54 with a first-year head coach.
The bottom line: "We absolutely didn't buy this team to be average," Plotkin said. "We bought this team to be great."
