Birkdale Village, among the area’s first mixed-use developments, to get new life
Birkdale Village, a mixed-use complex in Huntersville, was one of the first developments of its kind when it was built nearly two decades ago. Now, its current owners are re-imagining it as an outdoor entertainment destination.
Nuveen Real Estate, a subsidiary of New York-based TIAA, was previously part of a joint venture that owned the property with Ohio-based real estate investment trust, SITE Centers.
But in a deal that closed recently, Nuveen entered into a new joint venture partnership for ownership of Birkdale Village with Ohio-based North American Properties.
Tim Perry, managing partner at North American Properties, said they will focus on improving the outdoor area to make it a community space.
There were no public documents associated with the deal as of Tuesday afternoon, and Perry declined to state the price for the deal.
Birkdale Village was built in the early 2000s by prominent Charlotte development firms Crosland and Pappas Properties. It was designed to feel urban and walkable, with apartments on top of retail.
The complex has 250,000 square feet of retail, 320 apartments and 50,000 square feet of offices. It is home to a movie theater, shops like Banana Republic and Dick’s Sporting Goods, as well as restaurants like Red Rocks and eeZ Fusion & Sushi.
“Birkdale Village was ahead of its time, absolutely, when it was originally developed,” Perry said.
In announcing the deal, North American Properties, which will be managing and leasing the complex, said it is launching a series of drive-in concerts as well as photos and events with Santa.
Perry said the firms plan to renovate the apartments and amenities, as well as add lights and a more defined event space to the outdoor area. At a typical property, he said his company runs around 200 events a year.
And Perry said next year there will be an ice skating rink on site.
They are also adding a concierge and valet service, as well as making minor exterior improvements to the buildings, including a fresh coat of paint.
Perry would not say whether any new businesses would be brought in, but he cited the need to keep the tenant mix “fresh and relevant” depending on the demand.
Retail has been hard hit by the economic downturn caused by COVID-19, but Perry said the owners are confident about Birkdale’s future.
“That type of environment, which is outdoors, safe and really provides community experience, is really where we see success,” he said.
This story was originally published November 25, 2020 at 8:00 AM with the headline "Birkdale Village, among the area’s first mixed-use developments, to get new life."
