A seven-story, 1,080-unit self-storage facility is planned for uptown Charlotte, the latest in a storage boom that goes along with the city’s apartment growth.
The CubeSmart-managed facility will be built on a 1-acre site on East Seventh Street, tucked between office condos and Interstate 277. A company affiliated with developer Proffitt Dixon bought the vacant land from Trinity Episcopal School for just under $2.5 million in December, property records show.
The self-storage facility is planned to open in early 2019, with almost 91,000 square feet of space for lease. The building will also include 2,150 square feet of other commercial space, the developers said.
“Uptown Charlotte is undergoing tremendous growth and we are excited to develop a state of the art self-storage facility that will serve as an amenity to all surrounding residents and business users,” said developer William Andrews, in a statement.
The building is expected to draw business from nearby apartment dwellers, a dynamic that’s playing out across rapidly growing neighborhoods in Charlotte. Self-storage facilities are under development next to Bank of America Stadium, east of uptown in Plaza Midwood, just north of uptown and in South End. Part of the reason for the growth is a recent change in city regulations that made it easier to build tall self-storage buildings in more urban settings, as opposed to traditional roll-up door facilities in industrial areas.
Brokerage firm HFF lined up construction financing for the facility.
“The project’s convenient location and accessibility will be attractive to the increasing number of renters gravitating toward uptown,” said HFF senior director Brent Bowman.
Elsewhere in uptown, Proffitt Dixon developed the Presley apartment building on Stonewall Street, and is building another apartment building on the former site of the Charlotte Actor’s Theatre two blocks away. The company is also developing apartments in Ballantyne.