Development

Hundreds of new residences are planned just north of uptown

The vacant site on 24th Street.
The vacant site on 24th Street.

A developer is planning to build up to 343 new residential units between North Tryon and Graham streets just north of uptown, according to a recent rezoning petition.

The 11.4 acre site is between 24th and 26th streets, along both sides of North Pine Street (Yes, that is a plane in the Google Map satellite image captured below).

The land is part of a larger, 47-acre assemblage owned by Charlotte-based Vision Ventures. Real estate records show MREC Vision Northend LLC purchased the tracts for $2.45 million in August. The site is currently vacant. It was formerly occupied by one-story, vinyl-sided rental houses in the Tryon Hills development, which have been demolished.

The rezoning request, filed last week, shows townhouses running along Catalina Avenue. Other buildings on the site could include four-story buildings, which would larger accommodate multifamily buildings (apartments) to make up the bulk of the 343 residential units.

The rezoning request lists Todd Jackovich, a Nashville-based developer, as the petitioner. Jackovich’s firm, called Stonehenge Real Estate Group, has developed apartments and mixed-use projects in Nashville.

Jackovich couldn’t immediately be reached for more details on Friday. Charlotte City Council will hold a hearing on the rezoning plan and vote on it in the coming months.

The project would be the latest major change in a fast-evolving part of Charlotte. In August, Vision Ventures completed the sale of the nearby Hercules Industrial Park, a shuttered missile factory, to New York-based developer ATCO. Along with the former Rite Aid warehouse next door, ATCO – which bought the sites for $13.5 million – is planning a major mixed-use development. That could reshape 75 acres between Statesville Avenue and North Graham Street, three blocks from the Vision Ventures/Stonehenge project.

Ely Portillo: 704-358-5041, @ESPortillo

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