Construction crews have started setting up heavy equipment to tear down the former Charlotte Observer building at Stonewall and South Tryon streets.
The 360,000 square-foot steel-and-concrete building won’t be imploded, but will be torn down by a large piece of claw-like machinery. D.H. Griffin Wrecking Co. has been the main contractor for the demolition, which has a total cost of $3.5 million, according to building permits.
A partnership of Charlotte development firm Lincoln Harris and New York-based investment bank Goldman Sachs purchased the Observer site from the pension fund of Sacramento-based McClatchy, the Observer’s parent company, for $34.1 million. The Observer has relocated to offices two blocks away in the NASCAR Plaza office tower on Stonewall Street.
Lincoln Harris and Goldman Sachs are under contract to purchase the final piece of property, a sheet metal shop on South Mint Street, to create a contiguous 10-acre site. Covering two city blocks, the site runs along the south side of Stonewall Street between Bank of America Stadium and South Tryon Street.
Lincoln Harris has been tight-lipped about its plans for the parcels, which preliminary documents filed with the city indicate will be redeveloped as a large, mixed-use project. That could include office buildings, shops, restaurants, apartments or condominiums.