The Hornets are buying the old Epicentre in a joint venture
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The view of Queen City Quarter from South College and East Trade. Photo: Alexandria Sands/Axios
Hornets Sports & Entertainment is acquiring and plans to revitalize Queen City Quarter — aka the Epicentre — in a joint venture with two real estate firms.
Why it matters: The Hornets bring the built-in customer base, capital and literal buzz that may be necessary to revive Uptown's once-booming party central, right next to Spectrum Center.
- This could also be the missing piece to the Hornets' long-desired "entertainment district" along Trade Street.
Flashback: Before South End was cool, the Epicentre used to be the place to be for Charlotte's nightlife.
- After its initial owners filed for Chapter 11 protection in 2010, it turned into a ghost town during COVID. It gained a reputation for crime and went into foreclosure in 2022. Most of the popular bars and businesses shuttered.
- It hasn't been the same since, even after the new property managers CBRE promised to turn it into a family-friendly destination.
The latest: The Hornets' ownership is partnering with firms Lincoln Property Company and Vision Ventures. A sales price was not disclosed.
- A press release says they intend to "revitalize" and "reimagine" the property "as a vibrant destination," but it offered no specifics.
- Axios has reached out for comment.
The intrigue: Vision Ventures owned the property from 2010 to 2015 and says it boosted occupancy from about 50% to 95% during that time, according to the press release.
- Vision Ventures' managing principal Paul Picarazzi says they've "assembled a team built to deliver the next chapter and new vision for the site."
- Right now, there are fewer than 20 businesses listed in the Queen City Quarter directory map. The center has about 50 spaces.
The big picture: The Hornets have long envisioned a sort of "entertainment district" around Spectrum Center, comparable to Milwaukee's Deer District, with things to do before and after events.
- They've tossed around the name "Hive District."
- The venue has gone through $245 million in renovations, and the Hornets are building a $190 million practice facility across the street.
- The Spectrum Center has expanded its events lineup, with big-name concerts and star-powered tennis matches. It will host the WTA Finals starting in 2027 and is aiming for more than 150 events a year.
- Last season, the team broke its record for most sellout games at Spectrum Center.
📍 210 E. Trade St.
Editor's note: This story is developing and may be updated.