Development

Crews are tearing down the former Common Market building in South End to make way for offices

Demolition work on Friday, Nov. 4.
Demolition work on Friday, Nov. 4.

Demolition work is underway at the former site of the Common Market in South End, with crews tearing down the collection of brick buildings that housed several local retail shops.

Fencing has been up around the site for several weeks. In case you need a refresher, Austin-based Dimensional Fund Advisors is building an East Coast hub on the site, which was purchased for about $12.2 million in a deal that closed in April.

The company has said it plans to open its new Charlotte building in the fourth quarter of 2018.

The 2.3 acre, triangular site is bounded by Tryon Street, Park Avenue and Camden Road. Dimensional Fund Advisors is planning an eight-story building on the site, which will total 285,000 square feet. The building will feature at least 15,500 square feet of shops and restaurants, located at the building’s corners.

Dimensional Fund Advisors is bringing 316 jobs, and is receiving $18 million worth of state and local incentives.

Last week, the Common Market announced it will open a new South End location at 235 West Tremont Ave.

Ely Portillo: 704-358-5041, @ESPortillo

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