The wave of redevelopment that's transforming areas along the Blue Line extension is set to continue, with almost 500 new apartments and a new, creative office space in an old mill.
The plans from a pair of developers are for sites facing each other at North Davidson Street and Jordan Place, in Optimist Park near NoDa. They're adjacent to the Blue Line to UNC Charlotte that opened last month, between the 25th and 36th street stations.
Both plans would add to the crush of almost 5,500 new apartments planned or underway along the $1.2 billion Blue Line extension. Just blocks away, construction has already started on a half-dozen other new apartment buildings, where wood-framed skeletons are bristling alongside the tracks.
Here's the latest on the plans for Jordan Place:
- Apartment development firm Bainbridge Companies plans to start construction in June on a project called Bainbridge Noda, which will include 277 apartments on a vacant site south of Jordan Place. The project is still in the permitting stage, vice president Ron Perera said. Bainbridge is also developing apartments in South End and University City.
- Faison has teamed up with a pair of other development companies for a project at Chadbourne Mills. Kris Fetter, managing director of real estate at Faison, said they plan to develop about 200 apartments on a vacant site next to the mill, opposite the Bainbridge project. He said the project is still in design, and they've teamed up with development firm Swinerton to form a joint venture for the apartments. Fetter said they originally had permits for a podium building, with apartments on top of a concrete base, but the pricing came back prohibitively expensive, prompting a redesign.
"We went back to the drawing board and we're looking for different options," said Fetter. "It's been a difficult market with construction pricing...We want to be sensitive to what's going on in the marketplace."
The project will also include about 7,000 square feet of retail space, Fetter said. It's too early to give a start date for the apartments.
Fetter said the company is working with developer White Point on the other part of its development, an office building in the former Chadbourne Mills building at Brevard Street and Jordan Place. Repurposing the old building will yield about 40,000 square feet of creative office space, Fetter said. White Point has seen success with its Tompkins Hall project, a redevelopment of an old mill at Parkwood Avenue and 16th street. There, the company signed Duke Energy as a tenant for 80,000 square feet of office space in a decrepit mill they're renovating.