A $350 million proposed project could bring jobs and hundreds of homes to Charlotte
A Charlotte developer announced plans Tuesday for a $350 million redevelopment in north Charlotte, a move that could attract over 2,000 jobs and hundreds of homes to the area.
Childress Klein said in a news release that it is proposing building over 2 million square feet of industrial space for logistics, distribution and manufacturing, which the company anticipates will attract over 2,000 jobs. The plans also call for 700 multifamily units on the site near Concord Mills, but the company did not say yet whether it would build apartments or condominiums.
The 300-acre property, at the intersection of interstates 485 and 85, is made up of multiple parcels with a variety of owners.
Charlotte’s outskirts are seeing a flurry of development as the city expands.
In North Charlotte, the light rail’s northern expansion and job growth is fueling much of that change. And in Concord, redevelopment of the long-shuttered Philip Morris cigarette plant has lured major employers to the area, such as online used car retailer Carvana and cabinet maker GoldenHome International.
With all of that development, large swaths of land required for industrial uses are becoming harder to find.
For west Charlotte, city council narrowly approved a 156-acre industrial project last year despite concerns from residents over the environmental impacts. Several council members who voted for the project noted the dwindling supply of industrial land.
Making plans
The site Childress Klein is developing is suited for regional distribution because it is one of the few in Charlotte of its size and has access to the interstate, the firm said. The idea is to build a neighborhood where residents can work and live, as well as be near shops, restaurants and entertainment.
“The project will provide substantial new tax base, thousands of jobs, housing and mobility options for the area,” Landon Wyatt, a partner with Childress Klein, said in the release.
The company did not provide a cost for the homes, but said they would be offered at “accessible rents.”
The commercial real estate firm filed a rezoning for the project this week, and expects its proposal to come before city council in the third quarter of this year at the earliest.
This story was originally published January 12, 2021 at 4:31 PM with the headline "A $350 million proposed project could bring jobs and hundreds of homes to Charlotte."
