A real estate investment firm is planning to develop dozens of townhouses in South End, on the site of the shuttered Tremont Music Hall.
Carolina Capital Investment Partners, a Charlotte-based company, filed plans recently to rezone about 4.4 acres on the north side of Tremont Avenue, just off South Tryon Street. The plans call for up to 74 townhouses, built on a network of internal streets and alleys accessed from Tremont Avenue.
An executive with CCIP couldn’t immediately be reached for more information. Charlotte City Council will hear and consider the rezoning petition in the coming months.
Tremont Music Hall closed in December 2015 after two decades. During the locally run music venue’s lifetime, South End changed drastically, with the opening of the Blue Line light rail, thousands of new apartment units, an influx of affluent young residents and an explosion of breweries transforming the area.
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All around the Tremont site, change is accelerating. Brookhill Village, a privately owned, low-income housing development, is being torn down for possible redevelopment. Pollack Shores, an apartment developer, is building 350 apartments across South Tryon Street, on the south side to Tremont Avenue. And about 100 more apartments are planned across the street, at the northeast corner of Tryon and Tremont.
CCIP is a private equity firm that invests in commercial real estate in the mid-Atlantic and Southeast. The company focuses on multifamily, residential, industrial and other commercial properties.