Development

Get ready to see more construction and another high-rise on Stonewall Street

The Northwood Ravin site on Stonewall Street, with new construction fencing Tuesday.
The Northwood Ravin site on Stonewall Street, with new construction fencing Tuesday.

Construction fencing went up Tuesday around the site of the newest planned high-rise, mixed-use development uptown.

Located on Stonewall Street, Northwood Ravin is planning to develop a 20-story building and a mid-rise with up to 421 apartments, 12,000 square feet of office space and 8,000 square feet of retail for the site, as well as 558 parking spaces. The Charlotte-based company said last week that it plans to start work on the as-yet-unnamed Stonewall Street project this year.

With the fencing up, expect to see site work and preparation for construction on this site sooner rather than later. Before too long, another crane or two should be joining the city’s skyline.

Northwood Ravin bought the 3.76-acre parcel – which was left over after completion of the I-277 loop – from the city of Charlotte in February for $14.2 million.

The construction fencing is yet another sign of the ongoing Stonewall Street boom. Directly across from the Northwood Ravin site is Crescent Stonewall Station, a mixed-use development under construction that will feature 450 apartments, two hotels and a Whole Foods. Down the street, Proffitt Dixon is planning a new apartment building with 300 units on the former Actor’s Theatre site, while the Mecklenburg County-owned Bob Walton Plaza is set to be redeveloped as part of the Brooklyn Village project.

Crescent Communities is planning Tryon Place at Stonewall and Tryon streets, a mixed-use development with at least a 27-story office tower. And on the former Charlotte Observer site, Lincoln Harris and Goldman Sachs are planning a mixed-use development with at least 1 million square feet of office space.

Ely Portillo: 704-358-5041, @ESPortillo

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