Business

Construction begins on 29-story uptown bank tower. It will have more than offices.

Dominion Realty Partners on Wednesday broke ground on the latest uptown Charlotte tower, which will include a mix of office, residential and retail.

F.N.B. Corporation, the parent company of First National Bank, will be the anchor office tenant in the 29-story tower, at 401 S. Graham St. in Third Ward.

The $129 million tower will have a “sleek, reflective curtain wall exterior” and will be built to meet sustainable, green building certifications, according to a Dominion Realty news release.

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Construction began on the First National Bank tower in uptown Charlotte on Wednesday. This rendering shows what the building will look like when complete. Dominion Realty Partners

The tower will be the first office and residential tower in Charlotte, according to the news release.

“Millennials are wanting to live closer to work,” said Holly Williams, a national expert on multifamily real estate who is based in New York. “They’re wanting to have less of a commitment and then they want services and amenities around them.”

The new tower will have 196 apartments, 156,500 square feet of office space, 2,300 square feet of retail space, an eight-floor parking garage and a pool deck.

Living in the same building they work in is appealing to millennials, who Williams said, do not want to spend time in long commutes.

“They’re after more time of their own,” said Williams, the founder and CEO of MQ Ventures, a real estate investing company.

F.N.B. Corporation will consolidate its Charlotte region operations in the tower, according to the news release. The new tower will house the bank’s regional leadership and small business administration lending, commercial banking, mortgage banking, and builder finance.

Dominion said it is partnering with New York Life Real Estate Investors on the project. A similar tower is being built in Raleigh.

Cassie Cope covers business in Charlotte, with a focus on Charlotte Douglas airport, Duke Energy, Atrium Health and Novant Health. She previously covered politics at The State in Columbia, S.C., and is a graduate of the University of South Carolina.
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